Disaster Recovery-as-a-Service Market is Expected to Grow at a CAGR of 38.5% By the End of 2028 – Future Market Insights

Future Market Insights

FMI delivers key insights on the global disaster recovery-as-a-service market in its report titled “Disaster Recovery-as-a-Service Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028.” Disaster recovery-as-a-service has witnessed an upsurge in the past four years owing to an increase in the number of small- and medium-sized enterprises across the globe, growth in the number of cybercrimes & threats, increase in ransomware, rise in awareness in countries that have the resources to implement disaster recovery-as-a-service effectively and an increase in the transition towards digitalization in developing countries. As time progresses and advanced technologies are implemented, the demand for disaster recovery-as-a-service is also expected to increase. As a result, the market is expected to exhibit a high double-digit growth rate during the forecast period.

The global disaster recovery-as-a-service market is expected to register a significantly high global CAGR during 2018 – 2028, with Western Europe and North America accounting for approximately 50% market value shares by the end of the forecast period. The market was valued at US$ 2,457.3 Mn in 2017, and is projected to grow significantly to reach US$ 8,417.0 Mn by 2021.  The disaster recovery-as-a-service market is classified on the basis of type of service, service provider, vertical, end user and regions.

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In this report, FMI has segmented the global disaster recovery-as-a-service market on the basis of type of service, service provider, vertical, end-user and regions. On the basis of the type of service, the market is segmented into recovery & backup services, real-time replication services, data protection services, professional services and managed services. Among the above-mentioned services, the recovery & backup services segment has witnessed the maximum preference. The solution disaster recovery-as-a-service is available in a suite that includes multiple solutions, such as backup, recovery and data protection. However, as recovery & backup services are the primary requirements of most organizations, the data protection services segment holds a comparatively lower market share in the global disaster recovery-as-a-service market.

On the basis of service provider, the market is segmented into cloud service provider, telecommunication service provider, managed service provider and others.

On the basis of vertical, the market is segmented into BFSI, IT & telecommunication, retail & consumer goods, public sector, healthcare, media & entertainment, defense and others. Since its inception, the BFSI and IT & telecommunication verticals have been the major adopters of these services. These segments are also expected to be among the most attractive segments in terms of incremental opportunity in the global market. Hence, it is recommended for solution providers to target the above-mentioned segments owing to the high growth opportunities associated with the same.

On the basis of end-user, the disaster recovery-as-a-service market is segmented into large enterprises and small & medium enterprises. The large enterprises segment is witnessed to hold a higher market share in the global disaster recovery-as-a-service market. However, the small and medium enterprises segment is expected to dominate the market in countries such as South Africa owing to the presence of a larger number of small and medium enterprises in the region.

Furthermore, on the basis of geography, the disaster recovery-as-a-service market is segmented into various regions, which include North America, Latin America, Europe, China, Japan, SEA & Others of APAC and the Middle East & Africa. The North America disaster recovery-as-a-services market is expected to dominate the global market due to high awareness, the presence of a large number of Tier-1 disaster recovery-as-a-service providers and the high demand for the implementation of the same in the region in 2017. However, when considered in conjunction, Asia Pacific, China and Japan are expected to dominate the global disaster recovery-as-a-service market by the end of the forecast period due to the high growth rate expected across the respective regions.

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Vendors in the disaster recovery-as-a-service market are now focusing on partnering with various solution providers in the industry to enhance their solutions and expand their sales channels across the globe. Some of the key vendors included in this study of the global disaster recovery-as-a-service market include Citrix Systems; IBM Corporation; Microsoft Corporation; NTT Communications; Acronis; Amazon Web Services, Inc.; Axcient, Zerto; ContinuitySA; Sungard Availability Services; DATORA; Disaster Recovery South Africa (PTY) Ltd.; Message Labs Africa and Node Africa.

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