Global Disaster Recovery-as-a-Service Market report from Global Insight Services is the single authoritative source of intelligence on Disaster Recovery-as-a-Service Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Disaster Recovery-as-a-Service (DRaaS) is a cloud-based service that provides organizations with a comprehensive disaster recovery solution. DRaaS includes all the necessary components for a successful disaster recovery plan, including backup, storage, replication, and recovery. DRaaS is designed to help organizations recover from a disaster with minimal data loss and downtime.
Key Trends
There are three key trends in Disaster Recovery-as-a-Service (DRaaS) technology: 1) the move to the cloud, 2) the rise of artificial intelligence (AI), and 3) the use of blockchain.
The move to the cloud is a major trend in DRaaS technology. More and more businesses are moving their disaster recovery systems to the cloud in order to take advantage of the flexibility, scalability, and cost-savings that the cloud offers.
The rise of AI is another major trend in DRaaS technology. AI can be used to automate many of the tasks involved in disaster recovery, such as identifying which systems need to be backed up, when to perform backups, and how to restore data.
The use of blockchain is another trend that is gaining traction in the DRaaS space. Blockchain is a distributed database that can be used to store data in a secure and tamper-proof manner. This makes it ideal for use in disaster recovery, as it can help to ensure that data is not lost or corrupted in the event of a disaster.
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Key Drivers
The key drivers of Disaster Recovery-as-a-Service market are:
- The increasing dependency of organizations on IT systems for critical operations: In today’s business environment, organizations are increasingly relying on IT systems for mission-critical operations. This has made IT systems a key part of the business continuity planning (BCP) of organizations.
- The need to reduce recovery time and minimize business disruption: The goal of disaster recovery is to minimize the downtime of an organization’s IT systems in the event of a disaster. This is important because downtime can lead to lost revenue and productivity, as well as damage to an organization’s reputation.
- The increasing cost of traditional disaster recovery solutions: Traditional disaster recovery solutions, such as on-premises backup and recovery, can be expensive to implement and maintain. This is one of the key factors driving the adoption of Disaster Recovery-as-a-Service (DRaaS) solutions.
- The need for enhanced flexibility and scalability: Disaster Recovery-as-a-Service solutions offer enhanced flexibility and scalability compared to traditional disaster recovery solutions. This is because DRaaS solutions are typically delivered as a cloud-based service, which makes it easier to scale up or down as needed.
Restraints & Challenges
The key restraints and challenges in Disaster Recovery-as-a-Service market are:
- Lack of awareness: There is lack of awareness about disaster recovery-as-a-service (DRaaS) among small and medium businesses (SMBs). This is because most of the DRaaS providers focus on large enterprises.
- High cost: DRaaS is a expensive solution as it requires additional hardware, software, and services. This makes it unaffordable for SMBs.
- Complexity: DRaaS is a complex solution and requires expert knowledge for its implementation. This makes it difficult for SMBs to implement DRaaS.
- Limited availability: DRaaS is not widely available as it is still in its early stages of development. This limits the choice of DRaaS providers for SMBs.
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Market Segments
The Disaster Recovery-as-a-Service Market is segmented by service type, deployment mode, vertical and region. By service type, the market is divided into real-time replication, backup & restore, data protection and professional services. Based on deployment mode, it is bifurcated into public and private. On the basis of vertical, it is classified into banking, financial services & insurance, telecommunications, IT & ITes, government & public sector and others. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
Key Players
The Disaster Recovery-as-a-Service Market includes players such as Amazon Web Services, Axcient, Citrix, IBM, Microsoft, NTT Communication, Sunguard,Cable & Wireless Communication, TierPoint, LLC and Recovery Point Systems.
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