A latest report on the global Disaster Recovery as a Service (DRaaS) market has been added by Research Dive to its offerings. As per the report, the market is projected to rise with a remarkable CAGR of 40.6% from 2019 to 2026. The report offers an all-inclusive lookout of the present scenario and future scope of the global industry. The report is drafted by expert market analysts and guarantees to be a trustworthy source of data and all-inclusive market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
A considerable surge in the implementation of DRaaS technology in organizations owing to its various benefits such as reduces cost for purchasing or leasing server, network, and storage equipment, provides a space for secondary data centers, and many more is boosting the growth of the global DRaaS market. Also, DRaaS facilitates easy and quick recovery of data (depending on the server) without causing any disturbances in business processes in case of any disaster. This factor is anticipated to unlock profitable opportunities for the market growth during the forecast period. However, the risk of data breach in DRaaS systems is expected to impede the market growth.
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The report segments the global DRaaS market into component, provider, organization size, vertical, and region.
Solution Sub-Segment to Grab Leading Market Share
The solution sub-segment of the component segment is expected to grab leading share of the market by growing with a 35.4% CAGR in the estimated period. This growth is mostly attributed to the rising implementation of DRaaS solutions in various enterprises.
Cloud Service Provider Sub-Segment to Dominate the Market
The cloud service sub-segment of the provider segment is projected to dominate the market by rising with a CAGR of 38.2% in the projected period. The growth of this sub-segment is mostly attributed to the growing prevalence of companies offering cloud based DRaaS solution.
Small and Medium Businesses Sub-Segment to Lead the Market
The small and medium businesses sub-segment of the organization size segment is expected to lead the market by growing with 48.2% CAGR in the estimated period. This growth is mostly attributed to the benefits of DRaaS solutions to small and medium businesses such as ease of use, reduced operational cost, pay-as-you-go payment model, and flexibility.
Telecommunication and IT Sub-Segment to Dominate the Market
The telecommunication and IT sub-segment of the vertical segment is projected to offer profitable opportunities for the market in the projected period. The growth of this sub-segment is mostly attributed to the growing adoption of DRaaS solutions in telecommunication and IT sectors.
Asia-Pacific Region to Lead the Market
The report analyzes the global DRaaS market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is expected to lead the market by growing with 46.2% CAGR in the estimated period. The growth of this region market is mostly owing to the growing economy and massive investments by the major companies in the implementation of DRaaS technology in this region.
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Major Players in the Market:
The report lists some of the leading players functioning in the global DRaaS industry including
- IBM Corporation
- HP Development Company, L.P.
- Amazon Web Services, Inc.
- Cable & Wireless Communications Limited.
- TierPoint, LLC.
- Microsoft
- VMware Inc.
- NTT Communications Corporation
- RACKSPACE US, INC.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in December 2020, Flexential, a company offering information technology solutions, launched a new Disaster Recovery as a Service (DRaaS) offering called, Flexential DRaaS. This new service is scalable and can be modified as per every business's individual requirements and supports all types of environments including cloud, on-premises, colocation, and hybrid. It also enables customization to technical and business needs.
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