Triton Market Research presents the Global disaster recovery as a service (DRAAS) Market report segmented by Deployment Mode (In Cloud, To Cloud and From Cloud), by Organization Size (Mid-sized, Large and Small), by Service Type (Real-Time Replication, Backup, Professional and Data Security), by Industry Verticals (E-commerce & Retail, Banking & Financial Institutions, Media & Entertainment, Healthcare, Transportation & Logistics, Telecommunication & IT, Manufacturing, Education, Government Organization and others), by Geographical Region (North America, Europe, Asia Pacific and rest of world), discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).
The disaster recovery as a service (DRAAS) is a sub-field of cloud computing equipped to safeguard the data from any human or natural disaster. DRAAS has become an essential service, and many software organizations are providing these services together with smaller niche companies. The advent of enterprise trends like Bring Your Own Device has also risen the demand for DRAAS to manage the content effectively. Moreover, increase in big data, constant concern of data center breakdown are also some vital reasons for the rapid rise in the adoption of DRAAS market across the globe.
Triton Market Research has depicted that the global DRAAS market is anticipated to rise at 36.67% of CAGR during the forecast period of 2019-2027. The surge in the application of cloud technology, growing awareness regarding varied advantages of DRAAS and rapidly rising demand from diverse industrial sectors are few of the contributing factors for the growth of the DRAAS market globally. However, privacy concerns, compatibility issues and security are the reasons that are responsible for restraining the market growth. In addition, the requirement of high bandwidth for the application of DRAAS is also challenging the market growth drastically.
US, France, Spain, Japan, India, Africa and Saudi Arabia are key investment countries for the DRAAS market during the forecasting years. The development of the DRAAS is responsible for the implementation of cloud computing services such as SaaS (IT services market) and cloud software (IT software market). Also, in terms of application, social media marketing, lead nurturing & lead scoring, and mobile witnessed the highest growth numbers throughout the forecast period. Investments from SME’s in DRAAS would be higher than large enterprises for the forecasting period as DRAAS can provide security for SME’s in business.
North America’s growth pace in terms of revenue has led to dominating the DRAAS market in the global scenario. The steady economic environment is majorly attributing the adoption of software services in the North America region throughout the forecasting years. Also, rising risk for data theft, demand for data integration services, growth in the adoption of cloud computing and surge in the usage of SaaS services are the considered as the key dynamics in flourishing the DRAAS market in the region.
The top companies in the Disaster recovery as a service market are Verizon, VMWare, IBM, Iland and Microsoft. The company’s operating in the market are involving in the constant advancement of developing new technologies to boost the market growth and expanding its application in diverse sectors. For instance, SunGard Availability services in 2016 made a partnership agreement with VMware to fabricate an advanced disaster recovery as a service. Also, in the same year in Europe Microsoft funded $3 billion to promote their geographical presence in cloud footprint.
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