DRaaS enables replication of data and application to ensure business continuity in the event of a disaster. The demand for DRaaS is majorly driven by increased flexibility and automation capabilities. With an increase in the adoption rate of cloud-based solutions among Small and Medium-sized Enterprises (SMEs), the Disaster Recovery as a Service market is expected to grow rapidly.

Disaster Recovery as a Service Market begins with capturing data on key vendors’ revenues through secondary research, such as Cloud Computing Association, Associations of Financial Professional, and Information System Security Association. Vendor offerings were also taken into consideration to determine the market segmentation.

 Major Drivers for Disaster Recovery as a Service Market :

1 Cost-Effective and Fast Recovery of Data
2 Greater Flexibility and Automation Capabilities
3 Increasing Focus on Automated Change Management

Asia Pacific (APAC) is projected to be the fastest-growing region in the DRaaS market due to the increasing adoption of cloud technologies and growing data generation in APAC countries. The vast and diverse geographies, and increasing customer expectations and competition are the 2 major factors leading to intense operational complexities for enterprises in the region.

DRaaS is increasingly adopted by companies in various verticals, such as media & entertainment, government & public sector, and others, which have led to the growth of the market across the globe. The media and entertainment vertical is expected to grow at the highest rate from 2017 to 2022 in the Disaster Recovery as a Service market, whereas the Banking, Financial services, and Insurance (BFSI) vertical is estimated to dominate the market with the largest share in 2017.

Major vendors providing DR services are Amazon Web Services (Washington, US), Cable & Wireless Communications Limited (London, UK), IBM Corporation (Armonk, New York, US), SunGard Availability Services (Pennsylvania, US), Microsoft Corporation (Washington, US), iland Internet Solutions (Texas, US), Infrascale, Inc. (California, US), Bluelock, LLC (Indiana, US), Recovery Point Systems (Maryland, US), Acronis International GmbH (Massachusetts, US), TierPoint, LLC (Missouri, US), and Geminare Incorporated (California, US).

Forecasts

The Disaster Recovery as a Service (DRaaS) market size was USD 1.72 Billion in 2016, which is projected to reach USD 12.54 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 41.8% during the forecast period (2017–2022).