A report on the Global Disaster Recovery as a Service (DRaaS) Market has been published by Contrive Datum Insights. The report provides clients with the latest trending insights into the Disaster Recovery as a Service (DRaaS) market. It can be seen that the report includes market value and growth rate, size, production consumption and gross margin, pricing and other influencing factors. Along with this, in the report, you will get detailed information about every distributor, supplier, and retailer in the market. The competitive scenarios of all industry players are mentioned in detail in the report. The pandemic has caused market participants to strategically change their business plans.
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Today’s world is increasingly relying on the connected, multicloud environment, where cloud is emerging as a significant data security platform. According to IDC research, about 90% of enterprises are using cloud infrastructure for deploying some type of data protection strategy. In most of the cases, data protection as a service (DPaaS) solutions are being utilized to provisions the security of a particular application, data type, or compliance necessity. Growing risks of data loss due to natural disasters or machinery disasters are escalating demand for the disaster-recovery-as-a-service (DRaaS) solutions. DRaaS is a cloud-based model that allows organizations to back-up or recover their crucial data that have been kept in a third-party cloud environment.
Growing malicious data attacks is the key factor that drives Disaster Recovery as a Service (DRaaS) market growth. The BFSI, healthcare, IT, Telecommunication, and many more industries are increasingly adopting data recovery and back-up services to safeguard crucial information. Apart from this, capabilities to reduce downtime, decrease operational cost, maximize profit, and effective resource management are also promoting the demand for DRaaS solution. The DRaaS solution providers continuously strives to upgrade the DR (Disaster Recovery) planning solution to offer easy to go implementation solutions and reduce the operational cost. The Disaster Recovery as a Service (DRaaS) is helping organizations to address existential risks to recover data loss hence, these services are rapidly growing all across the world.
The report also covers the complete competitive landscape of the worldwide market with company profiles of key players such as Alps Electric, Atmel, Cirque, Cypress Semiconductor, Synaptics, Wintek, Neonode, Samsung Electronics, LG Display, Sharp, Chimei Innolux, TPK Holding. Geographically, this market has been segmented into regions such as North America, Latin America, Europe, Asia Pacific and Rest of the World. The study details country-level aspects based on each segment and gives estimates in terms of market size.
North America held major share of the overall disaster recovery as a service (DRaaS) market, followed by Europe, in 2021. These two regions are expected to retain their positions throughout the forecast period due to the increase in digital transformation in BFSI, IT & telecom, government, and media & entertainment, telecommunication, among other sectors. Increase in demand for best disaster recovery as a service (DRaaS) solutions can be ascribed to the rise in risk of data loss and downtime leading to business losses. Rise in demand for DRaaS in North America and Europe can be ascribed to the growth in need to secure data and accelerate restoration in data centers, especially in the U.S. and U.K.
The Asia Pacific market is projected to grow at the fastest CAGR during the forecast period. China and India are the major disaster recovery service provider countries in Asia Pacific, offering vast scope for disaster recovery companies operating in the market. The popularity of DRaaS in Asia Pacific can be ascribed to the increase in natural calamities such as floods, earthquakes, and human errors, which in turn lead to data leaks. This is estimated to drive the Disaster Recovery as a Service (DRaaS) market in the region during the forecast period.
Disaster Recovery as a Service (DRaaS) Market Segmentation:
By Type:
- Private Cloud
- Public Cloud
- Hybrid Cloud
- Other
By Applications:
- BFSI
- Consumer Goods and Retail
- Government and Public Sector
- IT and Telecom
- Media and Entertainment
- Manufacturing and Logistics
- Healthcare and Life Sciences
- Other
Frequently Asked Questions (FAQ):
- What is the growth rate predicted for the Global Disaster Recovery as a Service (DRaaS) Market?
- Who are the top performing companies in Disaster Recovery as a Service (DRaaS) Market?
- Which region dominated the worldwide market for Disaster Recovery as a Service (DRaaS) in 2022?
Related Sources:
- https://www.digitaljournal.com/pr/global-driver-assistance-system-das-market-is-expected-to-grow-at-a-cagr-of-16-6-during-forecast-period
- https://www.openpr.com/news/2863184/mobile-phone-insurance-market-to-signify-strong-growth
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