Disaster Recovery as a Service Market – Government, IT and Telecom Sectors to Continue to be Most Lucrative

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Disaster Recovery as a Service (DRaaS) is the duplication of physical or virtual servers by a third-party to provide failover in the event of a man-made or natural data failure. Data has become one of the primary concerns for organizations. In the present scenario, the world is running on the basis of data, across all sectors. DRaaS is primary implemented to protect resources and data from disruption in the event of disaster.

In terms of company size, the global DRaaS market is segregated into small companies, mid-sized companies and large companies. Mid-sized companies held the largest market share in 2015, with the increasing popularity of cloud based DRaaS, this market segment is forecast to grow at a significant rate during the forecast period 2016 to 2024.

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Additionally the, global DRaaS market is divided into cloud type which includes private cloud, public cloud and hybrid cloud. In terms of service providers, the global DRaaS market is bifurcated into cloud service providers (CSP), managed service providers (MSP) and telecom & communication service provider. Furthermore, the DRaaS market has the following divisions on the basis of service type – Real Time Protection, Backup, and Professional services.

The major drivers driving the global DRaaS market includes rise in adoption of virtualization technologies, and increasing investments in disruptive cloud technologies, among others. As the cost of ownership of data recovery services is increasing, organizations are shifting towards virtualization and cloud. This is due to the fact that, these technologies are safe, easy to use, cost effective, and can be managed easily.

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