The global disaster recovery as a service market size is expected to reach USD 74.34 billion by 2030, registering a CAGR of 27.2% from 2023 to 2030. The growing adoption of hybrid and multi-cloud environments has emerged as a prominent driver for the DRaaS market. DRaaS providers offer comprehensive solutions that safeguard data and applications across diverse cloud platforms and on-premises infrastructure, delivering a seamless and adaptable experience for businesses with varied IT ecosystems, further propelling the DRaaS market growth.
Several companies operating in the Disaster Recovery as a Service (DRaaS) market are focused on launching new products and platforms to cater to the larger customer base and strengthen their foothold in the industry. For instance, in February 2023, Veeam Software Group GmbH, a U.S.-based IT company, launched the Veeam Data Platform, a single platform that offers enhanced data security, recovery, and hybrid cloud features. This comprehensive solution, encompassing Veeam Backup & Replication (VBR) v12, delivers exclusive secure backup and speedy, dependable recovery to ensure uninterrupted business operations. Such advancements are poised to fuel the market's growth in the coming years.
The key players continuously collaborate with other organizations to provide enhanced products to cater to the growing need for DRaaS globally. For instance, in May 2022, FalconStor Software, Inc., a data protection software provider modernizing disaster recovery and backup operations in the hybrid cloud era, formed a strategic partnership with IBM Corporation. This partnership aims to validate solutions personalized for IBM Power Systems collaboratively. These solutions are purpose-built to assist enterprise clients and Managed Services Providers (MSPs) in addressing their cloud-enabled backup and cloud migration requirements. Such strategies by key players are expected to boost the market growth over the forecast period.
Several companies operating in the Disaster Recovery as a Service (DRaaS) market are focused on launching new products and platforms to cater to the larger customer base and strengthen their foothold in the industry. For instance, in February 2023, Veeam Software Group GmbH, a U.S.-based IT company, launched the Veeam Data Platform, a single platform that offers enhanced data security, recovery, and hybrid cloud features. This comprehensive solution, encompassing Veeam Backup & Replication (VBR) v12, delivers exclusive secure backup and speedy, dependable recovery to ensure uninterrupted business operations. Such advancements are poised to fuel the market's growth in the coming years.
The key players continuously collaborate with other organizations to provide enhanced products to cater to the growing need for DRaaS globally. For instance, in May 2022, FalconStor Software, Inc., a data protection software provider modernizing disaster recovery and backup operations in the hybrid cloud era, formed a strategic partnership with IBM Corporation. This partnership aims to validate solutions personalized for IBM Power Systems collaboratively. These solutions are purpose-built to assist enterprise clients and Managed Services Providers (MSPs) in addressing their cloud-enabled backup and cloud migration requirements. Such strategies by key players are expected to boost the market growth over the forecast period.
Disaster Recovery As A Service Market Report Highlights
- Based on service, the recovery & backup services type segment accounted for the largest market share of around 45% in 2022. This is attributed to the rising adoption of automated backup and recovery services by numerous organizations
- Based on deployment, the hybrid cloud deployment segment is expected to grow at the fastest CAGR of over 32% over the forecast period. Hybrid cloud solutions are driving the adoption of Disaster Recovery as a Service (DRaaS) by offering a cost-effective approach
- Based on end-use, the BFSI segment accounted for the largest revenue share of over 22% in 2022, as the BFSI organizations operate non-stop without downtime
- The North America regional market captured the highest revenue share of over 34% in 2022. The substantial market share is primarily the result of substantial investments and technological advancements within the disaster recovery industry
Table of Contents
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
Chapter 4 Service Type Estimates & Trend Analysis
Chapter 5 Deployment Estimates & Trend Analysis
Chapter 6 End-use Estimates & Trend Analysis
Chapter 7 Regional Estimates & Trend Analysis
Chapter 8 DRaaS Market - Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Acronis International GmbH
- Amazon Web Services, Inc.
- IBM Corporation
- InterVision Systems, LLC
- Infrascale, Inc.
- Microsoft Corporation
- Recovery Point Systems, Inc.
- Sungard Availability Services LP
- TierPoint, LLC
- VMware, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 10.62 Billion |
| Forecasted Market Value ( USD | $ 74.34 Billion |
| Compound Annual Growth Rate | 27.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
