New York, USA, Nov. 17, 2021 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global disaster recovery as a service market is expected to generate a revenue of $ 57,133.1 million by 2026, growing rapidly at a CAGR of 42.9% during the forecast period 2019-2026. 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 Influencing the CAGR Figures Pre and Post COVID-19 Outbreak
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the market is predicted to grow at a CAGR of 42.9% during the forecast period, while it was anticipated to be 40.6% in the pre-COVID-19 scenario from 2019 to 2026. Increasing use of disaster recovery as a service solution in numerous organizations across the globe, owing to its cloud services that favors companies to work remotely during the pandemic is expected to drive the growth of the market. In addition, its seamless operation and quick data recovery is further projected to bolster the growth of the disaster recovery as a service market during the forecast period.
Factors Influencing the Market Size Pre and Post COVID-19 Outbreak
According to the report, the real-time market size of the market has significantly increased compared to the pre-COVID-19 estimations. The real-time market size reached a revenue of $6,777.3 million in 2020, while its estimations were $6,587.1 million during the pre-COVID scenario. Economical properties and enhanced flexibility provided by DRaaS is expected to accelerate the growth of the market during the forecast period. In addition, persistent technological advancements in cloud computing are further expected to accelerate the growth of the disaster recovery as a service market during the forecast period.
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Post-Pandemic Insight
The disaster recovery as a service market is expected to grow tremendously in the post pandemic era, owing to the expanding rate of adoption of cloud-based services by numerous companies across the globe due to the immaculate automation provided by them in an economical way. In addition, increasing implementation of automation with the help of artificial intelligence is further expected to create massive opportunities for the growth of the market in the post-pandemic era.
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Key Players of the Market
The prominent players of the market include
- Amazon Web Services, Inc.
- HP Development Company
- IBM Corporation
- Cable & Wireless Communications Ltd.
- TierPoint LLC
- Microsoft
- NTT Communications Corporation
- L.P., VMware Inc.
- RACKSPACE US, INC., and many more.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in December 2020, Google LLC, an American multinational technology company that specializes in Internet-related services and products, acquired Actifio, a data management company focused on backup and disaster recovery, in order initiate backup and disaster recovery services to Google Cloud.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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