Disaster Recovery Solutions Market is estimated to be US$ 104.15 billion by 2030 with a CAGR of 36.7% during the forecast period
Disaster Recovery Solutions Market accounted for US$ 4.44 billion in 2020 and is estimated to be US$ 104.15 billion by 2030 and is anticipated to register a CAGR of 36.7%. In the event of a system failure or disaster, disaster recovery solutions assist businesses in retrieving data. DRaaS is a cloud computing and backup service paradigm that protects data and applications from many types of disasters by utilizing cloud resources. It provides a complete system backup to an organization, allowing for business continuity in the case of a system failure or outage. Because data does not need to be restored via the internet, disaster recovery as a service reduces the time it takes to return apps to production. Small and medium-sized enterprises that lack the competence to design, setup, and test an efficient disaster recovery plan may benefit from DRaaS.
The report " Global Disaster Recovery Solutions Market, By Service Type (Data Protection, Backup and Recovery, and Real-time Replication), By Organization Size (Small and Medium Enterprises (SMEs) and Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, IT and Telecom, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2029’’
Key Highlights:
· In March 2021, Proact is launching a new version of its managed disaster recovery service, which allows customers to continue operating their businesses following disruptive events, regardless of where their data is located. Proact’s new and updated disaster recovery solution protects data from customers’ data centers, from Proact’s newly updated PHC (Proact Hybrid Cloud) platform and from business servers sitting in public cloud platforms, such as AWS and Azure.
· In March 2021, Infrascale today announced the launch of Infrascale Backup and Disaster Recovery (IBDR), the next generation of the Infrascale Disaster Recovery (IDR) product sold to MSPs and VARs servicing SMB and mid-market. IBDR is a Disaster Recovery as a Service (DRaaS) hybrid cloud solution: one part software/hardware on-premises with customers’ data and servers and one part service infrastructure in the cloud. Together, these components are an insurance policy to prevent data loss and minimize downtime by providing quick recovery from crashes, ransomware/malware, natural disaster, human error, and all other forms of business disruption.
Analyst View:
The target market is predicted to increase throughout the forecast period, driven by rising demand for disaster recovery solutions across various companies due to rising data security concerns, increasing virus and malware attacks, and the desire to minimise operational costs. The global disaster recovery solutions market, on the other hand, is expected to be constrained by high initial capital expenditure. Nonetheless, the global market is likely to see lucrative growth possibilities during the forecast period due to rising use of cloud-based solutions and increased awareness about the benefits of using such solutions.
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Key Market Insights from the report:
The Global Disaster Recovery Solutions Market accounted for US$ 4.44 billion in 2020 and is estimated to be US$ 104.15 billion by 2030 and is anticipated to register a CAGR of 36.7%. The Global Disaster Recovery Solutions Market is segmented based on the service type, organization size, vertical and region.
· By Service Type, the Global Disaster Recovery Solutions Market is segmented into Data Protection, Backup and Recovery, and Real-time Replication.
· By Organization Size, the market is segmented into Small and Medium Enterprises (SMEs) and Large Enterprises.
· By Vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), Government, Healthcare, IT and Telecom, and Others
· By Region, the Global Disaster Recovery Solutions Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is anticipated to expand at the highest CAGR over the forecast period.
Competitive Landscape:
The key players operating in the global Disaster Recovery Solutions market include International Business Machines Corporation, Microsoft Corporation, Sungard Availability Services, iland Internet Solutions Corporation, Infrascale Inc., Bluelock, LLC, Recovery Point Systems, Inc., Amazon Web Services, Inc., Acronis International GmbH, and TierPoint, LLC.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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