Disaster Recovery as a Service Market Size Worth $96.60 Billion By 2032 | CAGR: 27.0%

The global disaster recovery as a service market size is expected to reach USD 96.60 billion by 2032, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The core objective of DRaaS is to maintain business continuity. It involves ensuring that critical business functions can continue even in the face of disruptions. DRaaS enables organizations to develop and implement robust business continuity strategies.

The complexity of IT environments has grown with the adoption of hybrid and multi-cloud strategies. DRaaS solutions that support these diverse architectures are in high demand. Hybrid cloud DRaaS solutions offer organizations flexibility by allowing them to blend on-premises and cloud-based resources. This flexibility is crucial for organizations with specific requirements or legacy systems that need to be integrated into the disaster recovery plan.

The COVID-19 pandemic accelerated the adoption of remote work. DRaaS is vital for ensuring that employees working from various locations can access critical data and applications with minimal disruptions. Many organizations prefer to offload their disaster recovery responsibilities to expert-managed service providers. This trend simplifies the implementation and management of DRaaS solutions. Established companies and startups are constantly innovating to offer features like automated failover, continuous data protection, and faster recovery times.

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Managed DRaaS services are increasingly popular as they offload the burden of disaster recovery management from internal IT teams. Managed service providers take care of the monitoring, maintenance, and management of disaster recovery solutions, allowing organizations to focus on their core operations.

Businesses expanding globally require disaster recovery solutions that can operate across borders. DRaaS providers are capitalizing on this need by offering services that align with international data protection and security standards, enabling international businesses to ensure data protection and business continuity as they grow.

Disaster Recovery as a Service Market Report Highlights

• The recovery and backup Services segment accounted for the largest market share in 2023, owing to data resilience, minimized downtime, and comprehensive data protection.
• The BFSI segment held a significant market share in 2023, mainly due to the greater need for data security and compliance and the ability to offer uninterrupted services.
• In 2023, the North American region accounted for the largest market and is expected to continue throughout the forecast period, owing to cybersecurity concerns, greater cloud adoption, and mandates for regulatory compliance.
• The global key market players include Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation, Recovery Point Systems, Inc., and VMware, Inc., among others.

Polaris Market Research has segmented the Disaster Recovery as a Service market report based on service, deployment, end-use industry, and region:

Disaster Recovery as a Service, Service Outlook (Revenue - USD Billion, 2019 - 2032)

• Real-time Replication Services
• Recovery & Backup Services
• Data Protection Services
• Professional Services

Disaster Recovery as a Service, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

• Private Cloud
• Public Cloud
• Hybrid Cloud

Disaster Recovery as a Service, End-Use Industry Outlook (Revenue - USD Billion, 2019 - 2032)

• Government
• BFSI
• Retail
• IT & Telecommunication
• Manufacturing
• Healthcare
• Others

Disaster Recovery as a Service, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Disaster Recovery as a Service Market Report Scope