Market Highlights: —
Disaster recovery as a service is basically replication and hosting of physical or virtual servers by a third party to provide failover in the event of a manmade or a natural catastrophe. It is cost effective and provides faster data recovery along with great flexibility.
The latest report published by Market Research Future (MRFR) reveals that the global Disaster Recovery as a Service (DRaaS) Market will surge at 44% CAGR during the forecast period (2017-2023). Towards 2023 end, the market is likely to surpass a valuation of USD 21 Bn. Disaster recovery as a service can be referred to as duplication and hosting of data on virtual or physical server by a third-party entity, which uses it in event of catastrophe.
Major factors driving the global disaster recovery as a service market include the rapid adoption of cloud-based solution and generation of high volume of real-time data for any event. Such technologies are being leveraged by DRaaS providers for delivering insights into catastrophic situation (manmade or natural). Providing credible, secure and scalable solution, DRaaS providers ensure that businesses remain active in the event of a disaster.
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Major Key Players
• Amazon Web Services (U.S.),
• IBM Corporation (U.S.),
• Microsoft Corporation (U.S.),
• Sungard Availability Services (U.S.),
• VMware Inc. (U.S.),
• Cable & Wireless Communications (U.K.),
• Cisco Systems (U.S.),
• HP Enterprises Company (U.S.),
• Treo Information Technology (Turkey)
• NTT Communications (Japan)
According to Market Research Future Analysis, Disaster Recovery As A Service Market has been valued at approx. USD 21 Billion by the end of forecast period with 44% of CAGR during forecast period 2017 to 2023.
The embryonic market of Disaster Recovery as a Service appears to be fiercely competitive and fragmented. Several large and small key players are churning the competition to gain competitive edge accounting for a substantial market share. Collaboration, Acquisition, partnership, product/ technology launch & expansion, remain the prevailing strategies of market players.
Industry/Innovation/ Related News:
InterVision Systems, LLC (US), a leading global provider of IT solutions, infrastructure, and services for the cloud ecosystem announced acquisition of Bluelock (US), a notable company for DRaaS & Managed Hosting The deal intent to enable organizations to thrive with next-generation IT, which will allow InterVision to expand its DRaaS with an industry leader, Bluelock.
MRFR’s report include an in-depth segmental analysis of the market based on service provider, service type, vertical and deployment.
Based on service provider, the market has been segmented into telecom & communication service provider, managed service provider, cloud service provider and others. On the basis of service type, the market has been segmented into professional services, support & maintenance, training & consulting, backup service, system integration, data security service, and real-time replication. The backup service segment is accounts for highest market share in terms of value. Backup services are targeted towards proving scalable and credible solutions for disaster recovery. The professional service segment is expected to remain highly attractive during the forecast period. In addition, the segment is projected to witness a strong CAGR during the forecast period. Growing business requirements such as consultation and training, maintenance and support and system integration. On the basis of vertical, the market has been segmented into Information Technology (IT), government, telecommunication manufacturing, Banking, Financial Services and Insurance (BFSI), retail, healthcare, media and others. By deployment, the market has been segmented into public cloud, private cloud and hybrid cloud.
The regions covered in the report include North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA). North America is expected to spearhead the global disaster recovery as a service market. Technologically advanced countries in the region presents exciting opportunities. Moreover, investment in cloud-based solutions in the U.S. and Canada facilitates a faster adoption of advanced disaster recovery systems. Moreover, many prominent DRaaS providers are based in the region, which give North America an edge.
The market in APAC is projected to witness the highest growth rate during the forecast period. Increased adoption of DRaaS in countries such as India, Japan and China is supporting the market growth in the region. Europe is also expected to remain a key market for DRaaS over the next several years. In terms of adoption, countries such as Germany, France, the U.S. among others will remain at the forefront.
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• Technology investors
• Integrated device manufacturers (IDMs)
• Research/Consultancy firms
• Government agencies
• Software providers
• Cloud Service providers
• Professional Service providers
• Solution providers
• Integration service providers
LIST OF TABLES
Table 1 Disaster Recovery As A Service Market, By Service Type
Table 2 Disaster Recovery As A Service Market, By Service Provider
Table 3 Disaster Recovery As A Service Market, By Deployment
Table 5 Disaster Recovery As A Service Market, By Vertical
LIST OF FIGURES
Figure 1 Research Type
Figure 2 Disaster Recovery As A Service Market, By Service Type (%)
Figure 3 Disaster Recovery As A Service Market, By Service Provider (%)
Figure 4 Disaster Recovery As A Service Market, By Deployment (%)
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Name: Abhishek Sawant
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Organization: Market Research Future
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Release ID: 505765