The global DRaaS market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period, to reach USD 14.6 billion by 2025 from USD 5.1 billion in 2020. Increased adoption of cloud, reduced time and costs, and enhanced focus on business continuity are expected to spur the demand for DRaaS offerings across the globe.
The market is expected to be driven by the need of backup and restore services
Backup is the process of copying data in cloud computing environments. It enables the retrieval of duplicate sets in case of data loss during downtime or failures, such as power outages, human errors, and natural catastrophes. Recovery refers to the restoration of deleted or damaged files from storage media in the event of disasters. The data recovery process refers to the state of the recovery of specific data that becomes inaccessible because of logical or physical damages to targeted storage devices. The need for backup is increasing among businesses due to the rising amount of data. Backup offers various benefits to enterprises, including increased agility, data retention, lower costs, faster deployments, and improved data protection. It provides cost-effective, automated, reliable, secure, and scalable solutions.
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Increased security capabilities and customized costing in private cloud-based services is driving the adoption of private cloud-based deployment
As security is the most important concern, many organizations are in favor of adopting the private cloud deployment model within corporate firewalls. This would help companies have better control over data, reduce the risk of data loss, and avoid issues related to regulatory compliance. Due to these benefits, many enterprises prefer private cloud to ensure safety and security. Private cloud deployment models are created for specific groups or organizations that require customization and control over their data. Enterprises opt for the implementation of DR services over private cloud, as it provides a highly secure and centralized storage infrastructure that can only be accessed by authorized users. Private cloud is a secure, cloud-based environment with high security, enabling end-users to store and process critical data.
The DRaaS market includes major vendors, such as Microsoft (US), IBM (US), VMware (US), iland (US), Recovery Point (US), Sungard Availability Services (US), InterVision (US), AWS (US), TierPoint (US), Infrascale (US), Acronis (Switzerland), Axcient (US), BIOS Middle East (UAE), C&W Communications (UK) Carbonite (US), Daisy (UK), Databarracks (UK), Datto (US), Evolve IP (US), Expedient (US), Flexential (US), Geminare (Canada), NTT (Japan), Quorum (US), SorageCraft (US), Unitrends (US), RackWare (US), Druva (US), Aptum (US), DARZ (Germany), Zettagrid (Australia), PhoenixNAP (US). The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Microsoft, IBM, VMware, iland, and Recovery Point have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the DRaaS market.
Microsoft is one of the leading players in the DRaaS market. The company has achieved growth in the global DRaaS market with the help of organic and inorganic growth strategies. As part of its organic growth strategies, the organization focuses on product innovations to gain an advantage over its competitors. The company constantly upgrades its key offering Azure Site Recovery to provide better disaster recovery and business continuity to its customers. It is strategically entering untapped markets, such as India, with its business continuity solutions. It easily expands its reach worldwide through its robust ecosystem of partners. It provides a wide range of benefits to its partners who help grow its market share. As a part of its inorganic growth strategies, Microsoft is focused on partnering with other DRaaS providers with an intention to offer combined solutions to customers for efficient disaster recovery and reduced downtime. It is also keen on offering joint solutions with its partners to improve business scenarios in COVID-19.
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IBM is an eminent player in the DRaaS market, as it provides strong cloud-based offerings. The company is currently focusing on catering to its customers with highly competent technology-enabled products and services in cloud, analytics, mobile, social, and security to sustain competition. With the growing demand for cloud-based solutions and services for disaster recovery, the adoption of cloud-based resiliency is gaining traction and benefitting strong players such as IBM. The organization aims at delivering innovative solutions and improved business continuity while planned and unplanned IT outages, thereby satisfying its customers. The key factors responsible for major shares in the market are wide geographic reach, strong distribution channels, and enhanced DRaaS offerings. The company focuses on strengthening its organic growth strategies, such as constant product enhancements and new product launches. These growth strategies have helped IBM hold its position in the DRaaS market, while they have also helped the company contentiously offer improved DRaaS solutions.
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