Overview and Scope
Disaster recovery software refers to a specialized type of software designed to help organizations recover data, applications, and systems in the event of a disaster or disruptive event. This software is used to minimize downtime and data loss by facilitating the rapid recovery of critical IT infrastructure components.
Sizing and Forecast
The disaster recovery software market size has grown rapidly in recent years. It will grow from $9.32 billion in 2023 to $10.93 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to increasing data breaches, growing reliance on digital infrastructure, rising frequency of natural disasters, regulatory compliance requirements, and business continuity planning emphasis.
The disaster recovery software market size is expected to see rapid growth in the next few years. It will grow to $20.90 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. The growth in the forecast period can be attributed to cloud adoption, cybersecurity threats, data protection regulations, and business continuity awareness. Major trends in the forecast period include rising adoption of AI-driven automation, emphasis on data resilience and security, growth in demand for integrated backup and recovery solutions, and expansion of disaster recovery as a service (DRaaS) offerings.
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Segmentation & Regional Insights
The disaster recovery software market covered in this report is segmented –
1) By Deployment Type: On-Premise, Cloud
2) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
3) By Application: Application Backup, Email Backup, Media Storage Backup
4) By Vertical: Telecommunication And Information Technology (IT)-Enabled Services, Banking, Financial Services, And Insurance, Media And Entertainment, Other Verticals
North America was the largest region in the disaster recovery software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the disaster recovery software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in concern for data security among organizations is expected to propel the disaster recovery software market going forward. Data security refers to the protection of digital data from unauthorized access, disclosure, alteration, or destruction throughout its lifecycle. The surge in data security among organizations can be attributed to the growing volume of sensitive data and the rising awareness of the potential financial and reputational damage caused by data breaches. Disaster recovery software ensures data security by facilitating swift restoration of critical information in cases of emergencies. For instance, in April 2023, according to the Department for Science, Innovation, and Technology, a UK-based government body, cybercrime affected 11% of businesses and 8% of charities in total over the past 12 months, this number increased to 26% of medium-sized businesses, 37% of large businesses, and 25% of high-income charities. Additionally, it is estimated that, across all UK businesses, there were approximately 2.39 million instances of cyber crime and approximately 49,000 instances of fraud as a result of cyber crime in the last 12 months. Therefore, the increase in concern for data security among organizations is driving the growth of the disaster recovery software market.
Key Industry Players
Major companies operating in the disaster recovery software market are International Business Machines Corporation, VMware Inc., Veritas Technologies LLC, Veeam Software, Commvault Systems, Rubrik Inc. , Acronis International GmbH, Actifio Inc., Carbonite Inc., Zerto, Arcserve, Druva Inc., StorageCraft Technology Corporation, HYCU Inc., Axcient, iLand Internet Solutions Corporation, Vembu Technologies, Nakivo Inc., Altaro Ltd., Bacula Systems SA, Storix Inc., PhoenixNAP, Asigra Inc., Recovery Point Systems Inc., Bluelock LLC
The disaster recovery software market report table of contents includes:
1. Executive Summary
2. Disaster Recovery Software Market Characteristics
3. Disaster Recovery Software Market Trends And Strategies
4. Disaster Recovery Software Market – Macro Economic Scenario
5. Global Disaster Recovery Software Market Size and Growth
…
32. Global Disaster Recovery Software Market Competitive Benchmarking
33. Global Disaster Recovery Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Disaster Recovery Software Market
35. Disaster Recovery Software Market Future Outlook and Potential Analysis
36. Appendix
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