The disaster recovery as a service market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to rapid urbanization, increasing spending on advances technologies, and rising adoption of work from home model.
In a third-party environment of cloud computing, the disaster recovery as a service is a cloud computing service system that creates backup of its IT infrastructure & data and provide all the DR orchestration, by giving permission to organization to regain functionality and access to IT sector in disaster time and after disaster. For business continuity the disaster recovery planning is important. The disaster recovery as a service comes under the cloud computing services.
The COVID-19 pandemic has disturbed many sectors on an exceptional ratio. However, disaster recovery as a service sector has emerged stronger from this incident. While many other sectors are finding it hard to run easily, the companies that selected disaster recovery as a service infrastructure are operating fine. Cloud-based database security assists in backup and trouble-free data storage because of its scalability. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increase in use of disaster recovery as services in healthcare sector is projected to boost the market.
- Rising usages of biometrics in smartphones is the major factor fueling the market.
- Lack of awareness about the disaster recovery as a service is projected to restrict the market expansion during the forecast period.
- High price of services is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in disaster recovery as a service market is projected to offer lucrative opportunities for the market players
Key Players
- BIOS Middle East group
- C & W Business Ltd.
- IBM Corp.
- Bluelock LLC
- Microsoft Corp.
- TierPoint LLC
- iLand Internet Solutions Corp.
- Sungard Availability Services LP
- Expedient Holdings USA LLC
- Recovery Point Systems Inc.
Competitive Landscape
Key players competing in the disaster recovery as a service market include BIOS Middle East group; C & W Business Ltd.; IBM Corp.; Bluelock LLC; Microsoft Corp.; TierPoint LLC; iLand Internet Solutions Corp.; Sungard Availability Services LP; Expedient Holdings USA LLC; and Recovery Point Systems Inc.
Some of these players are using several market strategies such as collaborations, acquisitions, partnerships, merger, product launches, and capacity expansion to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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