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The disaster recovery-as-a-service (DRaaS) market share is expected to increase by USD 57.76 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 44.36%.
This disaster recovery-as-a-service (DRaaS) market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers disaster recovery-as-a-service (DRaaS) market segmentation by deployment (public cloud, private cloud, and hybrid cloud) and geography (North America, Europe, APAC, South America, and MEA). The disaster recovery-as-a-service (DRaaS) market report also offers information on several market vendors, including 11 11 Systems Inc., 2nd Watch Inc., Acronis International GmbH, Broadcom Inc., Cisco Systems Inc., Citrix Systems Inc., Commvault Systems Inc., Dell Inc., Fidelity National Information Services Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., InterVision Systems LLC, IPC Systems Inc., Liberty Latin America Ltd., Microsoft Corp., Nippon Telegraph and Telephone Corp., Oracle Corp., Rackspace Technology Inc., Recovery Point System Inc., TierPoint LLC, VMware Inc., and Amazon.com Inc. among others.
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The improvements in manageability and protection are notably driving the disaster recovery-as-a-service (DRaaS) market growth, although factors such as the availability of open-source disaster recovery tools may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the disaster recovery-as-a-service (DRaaS) industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Disaster Recovery-as-a-Service (DRaaS) Market Driver
The improvement in manageability and protection is a major factor driving the global disaster recovery-as-a-service (DRaaS) market share growth. DRaaS ensures continuity of business operations in case of an outage. A web-based control panel improves the security and visibility of networks and servers with real-time activity and system health monitoring and reporting. DRaaS solutions offer full control and support manual and automatic failure. Additionally, they also provide customer information on the state of health of the entire IT estate. Application and data are saved through real-time, bandwidth-efficient continuous replication over an encrypted virtual private network (VPN) tunnel. This protects businesses from the impact of unplanned server outages. Small and medium-sized enterprises need an extra data center of their own or should have enough budget to afford a secondary hot site for managing backup in critical situations. Moreover, these replicated data centers should meet the RPO and RTO objectives, and the backup should be done quickly. Therefore, improved manageability and data protection from DRaaS vendors allow businesses to focus on their core competencies and aid in the growth of the market.
Key Disaster Recovery-as-a-Service (DRaaS) Market Trend
The adoption of AI for disaster recovery is another factor supporting the global disaster recovery-as-a-service (DRaaS) market share growth. With constantly evolving technologies that are intended to ease human effort intellectually and physically, the growth of AI and its subset of machine learning will drive the economic growth of all countries, especially developed economies, in the future. Although AI is still in the testing phase, its impact on labor productivity will increase during the forecast period. As DRaaS solutions manage corporate data and applications, DRaaS providers are focusing on automatically performing tasks that require human intelligence with the help of AI and machine learning. For instance, UNITRENDS, a company that provides backup services, offers solutions such as Unitrends Backup software and Recovery Series backup appliances that deploy AI and machine learning to identify ransomware in advance and offer features such as post-mortem identification and recovery and enable deflection. Due to technological innovations, Technavio expects the market to continue to grow significantly during the forecast period.
Key Disaster Recovery-as-a-Service (DRaaS) Market Challenge
The availability of open-source disaster recovery tools will be a major challenge for the global disaster recovery-as-a-service (DRaaS) market share growth during the forecast period. The availability of open-source disaster recovery tools is a challenge for the growth of the global DRaaS market. Such tools enable the setting up of a single master backup server to multiple backup hosts over the network. Open-source solutions can be downloaded and run on all platforms. The popularity of such solutions is growing in developing countries such as China and India, as enterprises are still wary of hosting their data on the cloud. Most small-scale companies cannot afford to invest in expensive on-premises and cloud-based recovery backup solutions. Consequently, they use open-source disaster recovery tools that do not require capital investments. In addition, small companies that do not have a high load of tasks can use open-source solutions. Essentially, due to such obstacles, market growth will continue to be hindered.
This disaster recovery-as-a-service (DRaaS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global disaster recovery-as-a-service (DRaaS) market as part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the disaster recovery-as-a-service (DRaaS) market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the disaster recovery-as-a-service (DRaaS) market encompasses successful business strategies deployed by the key vendors. The disaster recovery-as-a-service (DRaaS) market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The disaster recovery-as-a-service (DRaaS) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the disaster recovery-as-a-service (DRaaS) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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30% of the market's growth will originate from North America during the forecast period. The US is the key market for disaster recovery-as-a-service (DRaaS) market in North America. Market growth in this region will be slower than the growth of the market in all other regions.
The increasing adoption of advanced technologies, such as artificial intelligence (AI), machine learning (ML), virtualization, and cloud computing will facilitate the disaster recovery-as-a-service (DRaaS) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The COVID-19 pandemic had a favorable influence on the DRaaS market in this region in 2020. Owing to the pandemic, governments in many nations, such as the US, Canada, and Mexico, around North America, imposed lockdowns in 2020, forcing people to stay at home to prevent the virus from spreading. As a result, industries across the region were forced to undertake numerous trade activities online, leading to widespread use of DRaaS for data backup and recovery, in North America, in 2020.
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The disaster recovery-as-a-service (DRaaS) market share growth by the public cloud segment will be significant during the forecast period. Organizations are working on cost-cutting without compromising on business efficiency, and public cloud-based DRaaS provides this option by creating a mirrored environment as resources can be scaled on demand. Public cloud-based DRaaS can virtually fit any form of IT environment and reduce enterprises' data center investments and the cost of data recovery.
This report provides an accurate prediction of the contribution of all the segments to the growth of the disaster recovery-as-a-service (DRaaS) market size and actionable market insights on the post-COVID-19 impact on each segment.
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Disaster Recovery-as-a-Service (DRaaS) Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 44.36% |
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Market growth 2022-2026 |
$ 57.76 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
41.11 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 30% |
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Key consumer countries |
US, China, India, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
11 11 Systems Inc., 2nd Watch Inc., Acronis International GmbH, Broadcom Inc., Cisco Systems Inc., Citrix Systems Inc., Commvault Systems Inc., Dell Inc., Fidelity National Information Services Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., InterVision Systems LLC, IPC Systems Inc., Liberty Latin America Ltd., Microsoft Corp., Nippon Telegraph and Telephone Corp., Oracle Corp., Rackspace Technology Inc., Recovery Point System Inc., TierPoint LLC, VMware Inc., and Amazon.com Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Deployment
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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