Global Disaster Recovery as a Service (DRaaS) Market Is Boosted By Increase In Adoption Of Cloud Based Services

Global Disaster Recovery as a Service (DRaaS) Market Report, published by Variant Market Research, forecast that the global market was valued at $2 billion in 2016 and expected to reach $19 billion by 2024; growing at a CAGR of 34.7% from 2016 to 2024. In geographical segments, Asia-Pacific and Rest of the World (RoW) anticipated to grow at a CAGR of 37.2% and 34.3%, respectively, over the forecast period 2016 – 2024.
The factors driving the growth of the global disaster recovery as a service market are increase in adoption of cloud based services, increase in preference for commoditized IT services, and legislation of stringent disaster recovery regulations globally. Though, lack of compliance & security, and high network bandwidth requirements may hamper the market growth. Growing awareness about virtualization technologies and increasing trends of managed services among enterprises would unfold attractive business opportunities for the market in the coming years.
The global DRaaS market is segmented on the basis of service type, application, service providers, cloud type, deployment model, and company size. The service type segment contains backup, professional services, real time protection, and data security. Application segment is further bifurcated as IT & telecom, government, education, retail & e-commerce, manufacturing & logistics, media & entertainment, BFSI, and others. The service providers segment contains managed service provider (MSP), cloud service provider (CSP), and telecom & communication service provider. Cloud type segment contains public cloud, private cloud, and hybrid cloud. The market by deployment model is further segmented into in cloud DRaaS, to cloud DRaaS, and from cloud DRaaS. The company size segment contains small companies, mid-sized companies, and large companies. Mid-sized companies sub segment accounted for the major market share in 2016, while, small companies segment is projected to grow at the fastest CAGR during the forecast period.
North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. North America accounted for the largest market share of 34.5% in 2016, and it will continue to lead over the forecast period. The growth would be mostly driven by deployment of DRaaS by public and government sectors in countries such as the U.S..Europe accounted for the second major market share of 29.2%, driven by technological advancement and growing deployment of DRaaS across various application areas. In terms of growth, Asia-Pacific is predicted to grow at a fastest CAGR of 37.2% over the forecast period 2016-2024. Increase in manufacturing industries and rise in awareness regarding cloud based recovery solutions have supplemented the growth of the market in the region.
The major key players operating in the global disaster recovery as a service market comprises Cisco Systems, Inc., HP Enterprises Company, Cisco Systems, Inc., Symantec Corporation, VMWare, Inc., Amazon Web Services, IBM Corp., Microsoft Corporation, NTT Communications Corporation, TierPoint, LLC, and SunGard Availability Services, among others.
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com
You can connect with us on LinkedIn here @ https://www.linkedin.com/company/variant-market-research

Contact Us:
Variant Market Research
Web: https://www.variantmarketresearch.com
Tel: +1-415-680-2785
Tel: +91 20 65337795
Fax: +1-415-680-2786
Email: help@variantmarketresearch.com
Email: sales@variantmarketresearch.com
at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Global Depression Drug Market Is Boosted By Growing Awareness Regarding Depression

Global Depression Drug Market  Report , published by Variant Market Research, forecast that the global market was valued at $15 billion...