Cloud based environment needs a potentially strong cloud-based disaster recovery solution. Third party vendors often come to rescue in such situations. Disaster recovery-as-a-service or DRaaS is a set of similar processes that help in the implementation of DRP or disaster recovery plans. DRaaS is one of the fastest growing segments of the cloud based service market, which is evolving at a rapid pace. These services offer reliable business continuity based on pay-as-you-go model. User-friendly and flexible nature of this service is responsible for the growing DR as a service market.
Disaster Recovery as a Service Market Overview
Conventional disaster recovery techniques lack complete reliability for cloud-based services. Conventional services are also costly, which hampers the annual expenses of the IT department. These reasons are significant enough for many businesses to make a switch to DRaaS. DR as a service market is diverse with variety of applications and types. As long as a disaster is identified the recovery process start its applications to fix it. This process takes place without affecting the regular workflow of cloud-based services, which helps the motive of business continuity.
Segmentation in DRaaS Market
Segmentation in the DRaaS market is very interesting, which is based on the types of recovery services, storage capacity, size of organizations, types of business verticals, service providers and the pattern of geographical demands for these services. Detailed study of these segments provides information about the market trend and forecasting reports for this industry. Following are the details of this segmentation:
- Recovery systems: cloud-to-cloud DR (C2C), hardware to cloud DR (H2C) and self disaster recovery (SD)
- DRaaS providers: cloud service, disaster recovery service, technology partners, suppliers, telecom and communication service (TSP)
- Storage capacity: 10TB and above, 1TB to 10TB, 1 TB and below
- Organization size: home offices, small offices, enterprises, small-medium businesses (SMB)
- Business verticals: academia and government, BFSI, e-commerce and web, healthcare, manufacturing and others
Trends and Forecasting Reports
Increasing IT infrastructure costs, impact of downtime and loss of revenue are the basic driving factors for the DRaaS market. Advanced cloud-based DR systems are expected to replace conventional DR. according to research reports, the DR as a service market is anticipated to grow at an expected CAGR of 55.2%. This massive rise in the market is expected to take the market to $5.77 billion by 2018, which is poised at $640.8 million in 2013. With around 57.39% of market share, North America is leading the market, followed by Europe (57.20%) and Asia Pacific (56.56%). According to the reports, improved utilization, lowering costs and technological advancements will gain more clientele and maximum business in this industry.
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