New York, USA, Oct. 19, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global disaster recovery as a service market is forecasted to reach $57,133.1 million at a CAGR of 42.9% by the end of 2026, from $3,332.2 million in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19 of the Global Disaster Recovery as a Service Market
The report reveals the real-time CAGR registered by the disaster recovery as a service market during the pandemic. According to the report, the market is expected to record a CAGR of 42.9% during the forecast period, while it was expected to be only 40.6% from 2019-26 in the pre-COVID-19 scenario. The main factor behind this growth is the unprecedented emergence of coronavirus pandemic. Because of the pandemic, many organizations shifted to ‘work from home’ culture which has increased the chances of disaster at workplace. This is the main reason enhancing the growth of the global disaster recovery as a service market during the pandemic.
Check out How COVID-19 impacts the Global Disaster Recovery as a Service Market: https://www.researchdive.com/connect-to-analyst/186
Factors Impacting the Global Disaster Recovery as a Service Market Size in the Pre-COVID and Real-time Scenario
The main attributor of this growth of the market is the rising chances of cyber-attacks and security breach in small and medium businesses. During the pandemic, most of the companies around the world have chosen to work from home as a safety precaution. These are the factors enhancing the growth of the market during the pandemic period.
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Post Pandemic Insight of the Global Disaster Recovery as a Service Market
The global disaster recovery as a service market is expected to sustain its growth post the pandemic as most of the companies are still working on hybrid and remote mode. The market will experience steady growth in upcoming years as the organizations are likely to invest more in the industry for superior safety cautions during any disaster. The most significant players of the disaster recovery as a service market include
1. VMware Inc.
2. Amazon Web Services, Inc.
3. HP Development Company, L.P.
4. RACKSPACE US, INC
5. Microsoft
6. Cable & Wireless Communications Limited.
7. NTT Communications Corporation
8. IBM Corporation
9. TierPoint, LLC.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
In May 2020, Microsoft, the global leader in computer software production launched the Back2Business Solution Boxes with a mission to help the small and medium businesses (SMBs) of India in maintaining the continuity of their business and enhance the rate of implementation of cloud technology. These boxes are curated for particular scenarios in diverse organization sizes. These solution boxes bring together their services in Azure and Modern Workplace.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth. The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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