Dublin, Dec. 15, 2022 (GLOBE NEWSWIRE) -- The "Global DRaaS Market by Service Type (Backup and Restore, Real-Time Replication, and Data Protection), Deployment Model (Public Cloud and Private Cloud), Organization Size, Vertical, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global DRaaS market size to grow from USD 8.8 billion in 2022 to USD 23.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 21.6% during the forecast period.
In an age where data protection is increasingly important, DRaaS offers a more secure infrastructure backup, especially if organizations seek service providers who provide encrypted data storage that they can rely on.
DRaaS utilizes a cloud-based disaster recovery solution that provides infinitely more scalability and flexibility in terms of what, where, and how much data organizations can store offsite. It offers a highly secure environment that protects sensitive organizational data while allowing for complete control and transparency to boost business workflows.
By Organization Size, the SMEs segment to grow at the highest CAGR during the forecast period
The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher growth rate during the forecast period. SMEs face greater resource crunch than large enterprises and require better methods to resolve complexities for the improved cost optimization of their business processes.
SMEs adopt the pay-as-you-go model to ensure they are not tied to contracts that have tedious provisions. Reliability, scalability, user-friendly capabilities, easy integration, increased agility, and increased efficiency are the main factors that encourage SMEs to adopt DRaaS at a rapid pace.
By Deployment Mode, the public cloud segment to hold a larger market share
The public cloud segment is expected to hold the largest market size. Public cloud services are offered free and based on pay-per-usage modes, depending on the requirements of end users. In public cloud platforms, services can be accessed by multiple clients as they share the same infrastructure. Public cloud platforms are mainly preferred by organizations that are less expected to need the level of infrastructure and security offered by private cloud platforms.
By Vertical, the IT & ITeS segment to grow at the highest CAGR during the forecast period
The IT & ITeS segment is projected to grow at the highest CAGR during the forecast period. IT & ITeS companies invest in new technologies, such as smart computing products, IoT, cloud computing, mobility, and analytics, to gain efficiency, innovation, and attract consumers. The increasing amount of documentation is creating a huge demand for cloud-based storage, backup, and related services to keep confidential data secure and available on-demand.
| Report Attribute | Details |
| No. of Pages | 242 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $8.8 Billion |
| Forecasted Market Value (USD) by 2027 | $23.5 Billion |
| Compound Annual Growth Rate | 21.6% |
| Regions Covered | Global |
Premium Insights
- Increase in Disasters and Growing Availability of Low-Cost Disaster Recovery as a Service Offerings to Drive Market Growth
- Backup & Restore Services to Account for the Largest Share During the Forecast Period
- Public Cloud Deployment to be the Larger Market During the Forecast Period
- Large Enterprises to Account for Larger Demand During the Forecast Period
- Banking, Financial Services, and Insurance Segment to be the Largest Vertical During the Forecast Period
- Asia-Pacific to Emerge as the Best Market for Investments in the Next Five Years
Market Dynamics
Drivers
- Need to Lower TCO, Save Time, and Allow IT Teams to Shift Focus to Higher-Value Tasks
- Increased Need for Data Security and Scalability
- Rise in Draas Utilization to Mitigate the Risk of Cyberattacks on Data Centers
- Increased Need for Business Continuity Across SMEs
Restraints
- Concerns Over Dependency on Service Providers
- Reluctance of Enterprises Toward the Adoption of Cloud-Based Dr Over Traditional Methods
Opportunities
- Rise in the Adoption of Cloud due to the COVID-19 Pandemic
- Emergence of Ai and Ml in Draas Solutions to Strengthen the Dr Strategies of Enterprises
Challenges
- Difficulty in Achieving Security and Compliance in Cloud Environments
- Potential Performance Issues with Applications Running in the Cloud and Bandwidth Challenges
Case Study Analysis
- Case Study 1: Allegany Insurance Group Simplifies Its Disaster Recovery Strategy with Iland
- Case Study 2: Manufacturing Company Transitions to Draas for Greater Resilience with Intervision
- Case Study 3: Computer-Driven Solutions Deployed Infrascale Backup and Disaster Recovery (Ibdr) to Protect SME Clients' Data and Prepare for Disasters
- Case Study 4: Rms Uses Tierpoint's Hybrid Cloud & Draas to Improve Performance and Reliability
Company Profiles
Key Players
- Microsoft
- IBM
- Vmware
- Aws
- Sungard As
- Iland
- Recovery Point
- Intervision
- Tierpoint
- Infrascale
Other Players
- Acronis
- Axcient
- Bios Middle East
- C&W Business
- Carbonite
- Daisy
- Databarracks
- Datto
- Dxc
- Evolve Ip
- Expedient
- Flexential
- NTT Data
- Quorum
- Unitrends
SME/Startups
- Arcserve
- Rackware
- Druva
- Aptum
- Darz
- Zettagrid
- Phoenixnap
For more information about this report visit https://www.researchandmarkets.com/r/4moby7
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