Disaster Recovery as a Service Market Share, Size, Trends, Industry Analysis Report, By Service (Real-time Replication Services, Recovery & Backup Services, Data Protection Services, Professional Services); By Deployment; By End-Use Industry; By Region; Segment Forecast, 2024- 2032
- Published Date:Jan-2024
- Pages: 118
- Format: PDF
- Report ID: PM1775
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
The global disaster recovery as a service (DRaaS) market was valued at USD 11.27 billion in 2023 and is expected to grow at a CAGR of 27.0% during the forecast period.
Disaster Recovery as a Service (DRaaS) is a cloud computing service that provides an organization with a comprehensive solution for data backup, recovery, and continuity in the event of a disaster or disruptive event. DRaaS is designed to ensure business continuity by allowing businesses to recover their IT infrastructure and data quickly and efficiently following a natural or artificial disaster, cyberattack, or any other disruptive incident.
DRaaS solutions are highly scalable, allowing organizations to adapt to changing data volumes and business requirements without investing in new infrastructure. This flexibility is particularly valuable for companies experiencing growth or seasonal fluctuations. The cloud-based nature of DRaaS allows for remote accessibility. Organizations can initiate data and system recovery processes from anywhere with an internet connection, making it an ideal solution for remote work scenarios.
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Automation is a key feature of many DRaaS solutions. This streamlines backup, replication, and recovery processes, reducing the dependence on manual intervention. Automated processes improve the speed and reliability of disaster recovery.
In addition, companies operating in the market are introducing new products with enhanced capabilities to cater to the growing consumer demand.
For instance, in October 2021, Cohesity unveiled its latest 'as a service' solution, making disaster recovery as a service (DRaaS) widely accessible. This new offering expands upon Cohesity SiteContinuity's existing disaster recovery capabilities. It introduces the option of utilizing Amazon Web Services (AWS) as a recovery destination for seamless failover and failback operations within a Software as a Service (SaaS) framework.
Rapid recovery is a priority for organizations looking to minimize downtime and maintain business continuity. DRaaS solutions are designed to quickly restore data and systems, ensuring minimal disruption to operations. DRaaS providers implement comprehensive security measures to protect backed-up data. These include data encryption, access controls, and threat detection systems to safeguard data both in transit and at rest.
Growth Drivers
Cybersecurity Concerns and the Greater Need for Data Protection and Resilience are Factors Projected to Spur the Market Demand
The continuous growth of sensitive and crucial data emphasizes the essential need for strong data safeguarding and resilience strategies. Disaster recovery as a service plays a critical role in ensuring organizations can swiftly recover their data and systems in the face of data loss or system breakdown, thus mitigating the potential fallout of disasters, cyberattacks, or hardware failures.
With the escalating prevalence of cyber threats, notably ransomware attacks, organizations are increasingly acknowledging the imperative nature of comprehensive disaster recovery solutions. DRaaS not only facilitates data and system recovery post-cyber incidents but also acts as a defensive shield against data loss or corruption resulting from these attacks.
Additionally, rigorous regulatory standards and data protection laws like GDPR, HIPAA, and CCPA mandate that organizations establish effective data protection and disaster recovery measures. DRaaS service providers excel at crafting solutions that seamlessly align with these regulations, simplifying the path to regulatory adherence for organizations.
Report Segmentation
The market is primarily segmented based on service, deployment, end use industry, and region.
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By Service |
By Deployment |
By End-Use Industry |
By Region |
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By Service Analysis
Recovery & Backup Services Segment Accounted for the Largest Market Share in 2023
Recovery & Backup Services segment accounted for the largest market share in 2023. Recovery and backup services are driving forces in the expanding disaster recovery as a service (DRaaS) market . They ensure data resilience against cyber threats, hardware failures, and natural disasters. They also minimize downtime by enabling swift recovery of critical data and systems, directly impacting productivity and revenue. These services provide comprehensive data protection, including regular backups and version control, simplifying management for organizations with limited IT resources. Furthermore, they enable efficient data recovery, testing, and validation of disaster recovery plans, helping mitigate the impact of ransomware attacks. Recovery and backup services also offer scalability and cost-efficiency, backed by robust security measures and compliance adherence.
By End-Use Industry Analysis
The Bfsi Segment Held a Significant Market Share in 2023
The BFSI segment held a significant market share in share in 2023. Disaster Recovery as a Service is vital for the Banking, Financial Services, and Insurance (BFSI) sector. It ensures data security, compliance, and continuous operations for institutions dealing with sensitive financial and customer data. DRaaS mitigates risks posed by cyberattacks, natural disasters, and system failures, safeguarding customer trust. It enables efficient resource management, scalability, and resilience against cyber threats. Regular testing and training are facilitated, and its global presence suits multinational operations. Meeting regulatory requirements is simplified, and it supports the increasing trend of remote work. DRaaS is an integral part of risk management and operational excellence in the BFSI industry.
Regional Insights
North America Region Accounted for the Largest Market in 2023
In 2023, the North American region accounted for the largest market and is expected to continue throughout the forecast period. The growing awareness of the potential risks and consequences of data loss and downtime has led businesses in the region to seek DRaaS solutions proactively. This awareness is driven by real-world instances of data breaches, natural disasters, and other incidents that have disrupted operations. The U.S. has witnessed a rapid migration to cloud computing. As businesses move their applications and data to the cloud, the need for cloud-based DRaaS has surged. This approach offers scalability, cost-efficiency, and seamless recovery in the cloud environment. Strict regulations in industries like healthcare (HIPAA) and finance (Sarbanes-Oxley) require data protection and disaster recovery planning. DRaaS providers tailor their solutions to ensure that organizations can meet these regulatory requirements.
The Asia-Pacific region is anticipated to experience fastest growth during the projected period. The market is rapidly expanding due to diverse influences. The region's digitalization surge fuels the demand for DRaaS as businesses strive to secure critical data and ensure uninterrupted operations. Frequent natural disasters, coupled with escalating cybersecurity threats, underscore the necessity of DRaaS for data recovery and resilience. Cloud adoption is on the upswing, aligning with Asia's cloud-first strategies. Government initiatives, cross-border operations, remote work trends, and the growth of digital services further drive DRaaS adoption. The competitive landscape and the need for regulatory compliance emphasize innovation and cost-effective solutions, fostering market growth.
Key Market Players & Competitive Insights
The disaster recovery as a service market is fragmented and is anticipated to witness competition due to several players' presence. Major market players are constantly introducing new products to strengthen their position in the market. These players focus on collaboration, product advancements, and partnership to achieve a competitive advantage over their peers and capture a significant market share.
Some of the major players operating in the global market include:
- 11:11 Systems, Inc.
- Acronis International GmbH
- Amazon Web Services, Inc.
- Dell Technologies, Inc
- IBM Corporation
- Infrascale, Inc.
- InterVision Systems, LLC
- Microsoft Corporation
- NTT Communications Corporation
- Recovery Point Systems, Inc.
- TierPoint, LLC
- VMware, Inc.
- Unitrends
- Zerto
Recent Developments
- In October 2022, Persistent Systems introduced a solution in partnership with Google Cloud that accelerates an organization's recovery from cyberattacks. The solution, known as Persistent Intelligent Cyber Recovery (PiCR), offers a robust and scalable approach to cyber recovery. It empowers organizations to mitigate data loss and limit damage to their brand reputation resulting from extended periods of downtime.
- In July 2023, SIOS Technology Corp. unveiled a range of new professional services designed to assist customers in guaranteeing the dependable high availability and disaster recovery of their critical applications.
Disaster Recovery as a Service Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 14.31 billion |
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Revenue forecast in 2032 |
USD 96.60 billion |
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CAGR |
27.0% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019-2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Service, By Deployment, By End-Use Industry, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
Explore the 2024 market share, size, and revenue growth rate statistics in the field of Disaster Recovery as a Service (DRaas) Market, meticulously compiled by Polaris Market Research Industry Reports. This comprehensive analysis encompasses a market forecast outlook extending to 2032, along with an insightful historical overview. Experience the depth of this industry analysis by obtaining a complimentary PDF download of the sample report.
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FAQ's
The global disaster recovery as a service market size is expected to reach USD 96.60 billion by 2032
Key players in the market are Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation
North America contribute notably towards the global disaster recovery as a service market
The global disaster recovery as a service (DRaaS) market is expected to grow at a CAGR of 27.0% during the forecast period.
The disaster recovery as a service market report covering key segments are service, deployment, end use industry, and region.
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