The Disaster Recovery As A Service (DRaaS) Global Market Report 2023 by The Business Research Company, provides disaster recovery as a service (DRaaS) market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Disaster Recovery As A Service (DRaaS) Global Market Report 2023, the market size will grow from $8.08 billion in 2022 to $11.07 billion in 2023 at a compound annual growth rate (CAGR) of 37.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global disaster recovery as a service (draas) is expected to grow to $34.99 billion in 2027 at a CAGR of 33.3%.The rise in need for backing up public and private data drives the growth of the disaster recovery as a service (DRaaS) market. There is 2.5 quintillion bytes of data created every day and a major factor contributing to the loss of this data is unplanned downtime of systems which further results in the shutdown of various companies. The potential losses and damage due to the system downtimes are huge and hence there is a need for backup services. These backup services would insure companies of any unforeseen disasters and hence drive the growth of the disaster recovery as a service (DRaaS) market.
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The disaster recovery as a service (DRaaS) market is segmented:
1) By Service Type: Backup & Recovery, Real-Time Replication, Data Protection
2) By Application: Banking, Financial services and insurance (BFSI), Government, IT and Telecom, Media And Entertainment, Manufacturing And Logistics, Education
3) By Deployment Model: Premises-to-Cloud, Cloud-to-Cloud
4) By Size of Enterprise: Large Enterprises, Small & Medium Enterprises
5) Cloud Type: Public, Private, Hybrid
Due to rise in the number of cyber threats, companies started using AI and Machine Learning in DRaaS solutions to detect threats and unusual behavior in advance. There are predictive learning algorithms that are being developed to differentiate between real and false disaster recovery situations. These learning algorithms can automatically perform proactive recoveries, eliminating outages before they are detected. For example, Unitrends, a US-based company offers a variety of business continuity and backup services. The company has developed the use of artificial intelligence (AI) in its services which runs during every backup in order to identify backups that are affected by ransomware. Once data threats are identified, the company with the help of AI and new technologies immediately informs about the same making data more secure.
The disaster recovery as a service (DRaaS) market report table of contents includes:
1. Executive Summary
2. Disaster Recovery as a service (DRaaS) Market Characteristics
3. Disaster Recovery as a service (DRaaS) Market Trends And Strategies
4. Disaster Recovery as a service (DRaaS) Market – Macro Economic Scenario
5. COVID-19 Impact On Disaster Recovery as a service (DRaaS) Market
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26. Africa Disaster Recovery as a service (DRaaS) Market
27. Disaster Recovery as a service (DRaaS) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Disaster Recovery as a service (DRaaS) Market
29. Disaster Recovery as a service (DRaaS) Market Future Outlook and Potential Analysis
30. Appendix
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