The Disaster Recovery-as-a-Service Market was assessed at $6.5 billion in 2021 and is anticipated to increase to $60.4 billion by 2031, with a compound annual growth rate (CAGR) of 23.9% from 2022 to 2031.
The market for disaster recovery as a service is expanding quickly since it is a crucial component for ensuring company continuity. In the event of natural or man-made disasters including hurricanes, earthquakes, wildfires, power outages, and cyberattacks, disaster recovery as a service supports the organization. A business can back up its data and IT infrastructure using the cloud computing service model known as “Disaster Recovery-as-a-Service” on a different company’s cloud computing platform.
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The Disaster Recovery-as-a-Service (DRaaS) market is witnessing transformative trends driven by the growing importance of data protection, the shift towards cloud-based solutions, and the need for enhanced business continuity strategies. One significant trend is the adoption of hybrid DRaaS solutions. Organizations are leveraging a combination of on-premises infrastructure and cloud resources to create flexible and resilient disaster recovery environments that can adapt to changing business needs.
Moreover, the rise of ransomware attacks and cyber threats is reshaping the DRaaS landscape. As cyber incidents continue to pose significant risks to data and operations, DRaaS solutions are evolving to include cybersecurity features such as threat detection, data encryption, and rapid recovery protocols. This trend addresses the critical requirement of safeguarding business data against evolving cyber risks.
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Multi-cloud strategies are also gaining traction in the DRaaS market. Organizations are utilizing multiple cloud providers to ensure redundancy and mitigate the risk of vendor lock-in. This approach enables seamless failover between cloud platforms, enhancing the availability and reliability of disaster recovery processes.
Additionally, proactive testing and automation are emerging as key trends. DRaaS solutions are incorporating automated testing processes that simulate disaster scenarios, ensuring that recovery procedures are effective and reliable when needed. This trend minimizes downtime and reduces the likelihood of errors during actual recovery events.
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The global disaster recovery-as-a-service market analysis is segmented based on operating model, service type, deployment mode, organization size, end-use industry, and region. By operating model, the market is classified into managed DRaaS, assisted DRaaS, and self-service DRaaS. By service type, the market is segmented into real-time replication, backup & restore, data protection, and others. By deployment mode, the market is divided into public cloud and private cloud. By organization size, the market is divided into large enterprise and small & medium-sized enterprises. By end-use industry, the market is analyzed across banking, financial services, and insurance (BFSI), IT & telecommunication, government & public sector, healthcare, retail & consumer goods, media & entertainment, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the disaster recovery-as-a-service market report include IBM Corporation, Axcient, Sunguard, Amazon Web Services, Inc., Cable & Wireless Communications Limited., TierPoint, LLC., Microsoft Corporation, VMware Inc., NTT Communications Corporation, and Rackspace Technology.
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