DR as a Service Market worth $5.7 Billion by 2018 at a CAGR of 55.2%

MarketsandMarkets is pleased to announce its Analyst Briefing on the “DR as a Service Market [RaaS; Cloud DR; Disaster Recovery as a Service; Business Continuity as a Service] – Worldwide Forecasts and Analysis (2013 – 2018)” The briefing will cover an overview of drivers, restraints and opportunities that impact cloud based disaster recovery. It will also cover an adoption trend analysis on this market.

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Despite making huge infrastructure investments, the process of storing, recovering and running applications is still challenging. Even though organizations survive from disasters at a reasonable cost, the loss of data incurred can be unavoidable. Sectors expected to get affected by downtime are Banking & Finance, E-commerce, manufacturing, media and entertainment. Revenue loss is expected to build up every few minutes, during downtime. Hours of downtime can do considerable damage.

The need for IT based DR infrastructure is expected to reduce drastically, due to the impact of cloud based DR. However, several organizations, despite considering cloud based DR as the best option for DR, are hesitant to completely convert to DR. The conversion rate is slow because cloud based DR is seen as an immature technology. Customers are not sure of the security and privacy afforded to them in the cloud infrastructure. RaaS vendors and consultants play a vital role in understanding the requirements and objectives of organizations in order to achieve effective business continuity plan (BCP).

The market for cloud based DR will make rapid strides in the APAC, European and NA markets, whereas it will evolve gradually in MEA and LA markets. Over the next five years, cloud based DR is expected to minimize revenues from traditional IT infrastructure. It is expected to spread across various organization types and verticals, as the impact of downtime and revenue loss can bring unexpected business breakdown.

MarketsandMarkets forecasts the DR as a Service Market to grow from $640.8 million in 2013 to $5.77 billion by 2018. The major forces driving the market are factors such as low cost, high automation, dynamism, 24*7 support, secure storage and backup, location independence, virtualization, easy deployment, recovery, management and control, along with high utility based business continuity. At the same time, customers are concerned about security and privacy in terms of cloud based DR implementation.

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