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Mandatory Implementation of DR Plans Boosts Global DRaaS Market

Article Description

Disaster recovery as a service or DRaaS is a solution that helps the information technology enabled services (ITes) industry and the overall information technology sector to overcome challenges such as loss of data, downtime, and lack of a continuous service to the clients. Its ability to solve big problems through cloud-based applications has made it a popular option amongst several players.

Advantages of DRaaS Accelerate Market’s Growth

The primary growth drivers for the global DRaaS market are its advantages such as improved flexibility, quick recovery, cost-effectiveness, automation, and ease in testing. The growing IT sector across the globe is also driving the DRaaS market. Furthermore, the emergence of micro, small, and medium enterprises (MSMES) has also led to increased usage of DRaaS. This service has provided many users with an effective solution to achieve efficient recovery after disasters across various sectors.

The global DRaaS market is segmented on the basis of deployment model, product, company size, sector, and geography. On the basis of the model, this market is segmented into cloud DRaaS, in cloud DRaaS, and from cloud DRaaS. The products sold in this market are hardware and software. DRaaS is deployed in companies that are small, mid-sized, and large. The application of DRaaS is seen in sectors such as banking and financial institutions (BFSI), the telecommunication sector, the government and public sector, e-commerce or retail, the manufacturing sector, and others. Geographically, this market is segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America.

BFSI Segment to Dominate Global DRaaS Market

A research study suggests that the banking and financial institutions segment held the lion’s share in the global DRaaS market. The factors responsible for the success of the DRaaS market in the BFSI segment are the mandatory measurements suggested by governments to implement DR backups in case of a calamity to prevent loss of information and transactions. This has given the DRaaS market a massive boost. Furthermore, as the e-commerce sector is finding its space with several startups and online-based services, most of these will use cloud or DR plans to ensure continuity in case of a catastrophe.

North America to Lead Global DRaaS Market

Geographically, North America was the topmost contributor to the global DRaaS market in terms of revenue in 2013. The ubiquitous presence of SME enterprises and a large number of leading DRaaS service providers in North America have become the primary driving force behind the success of this regional segment. In the same year, Europe was the second largest revenue earner in the overall DRaaS market. However, in the forecast period from 2014 to 2022, Asia Pacific is expected to grow significantly due to the presence of several large, small, and mid-sized enterprises in the manufacturing, IT, and ITes sectors. The demand for DRaaS will mainly stem from the emerging economies of Japan, China, South Korea, India, Australia, and Singapore in the Asia Pacific region. Additionally, several opportunities from regions such as the Middle East and Africa and Latin America will also help the DRaaS market grow stupendously.

Browse the full Global DRaaS Market report at http://www.mrrse.com/disaster-recovery-a-service-market

The companies leading the global disaster recovery as a service market are Columbus Business Solutions, NTT Communications, HP Co., IBM Corp., Amazon.com, Inc., Geminare, Inc., EMC Corp., VMWare, Inc., Cisco Systems, Inc., SunGard Data Systems, QuorumLabs, Inc., NetApp, Inc., Windstream Communications, Verizon Communication, Inc., Databarracks Ltd., and Rackscale s.r.o.