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The Global Disaster Recovery as a Service Market Size is expected to reach a market size of $15.1 billion by 2022, rising at a growth rate of 44.7% CAGR during the forecast period.
Disaster recovery (DR) was previously viewed as an all-or-nothing? case -- the control key was pushed for the reason that organization had encountered a significant tragedy in the IT services that had been implemented on the monolithic infrastructure such as the mainframe. The conventional DR model was structured on tape backup, with supplementary data backup tapes stored off-site. This model can incur considerable downtime, as tapes will have to be restored before data and applications could be restored. Businesses that needed speedier restore times replicated data to in their own individual secondary establishments, or employed shared expert services made available from DR experts that offered on-demand recovery functionality. Nonetheless, these versions ended up being extremely expensive.
The report highlights the adoption of Disaster Recovery as a Service. Based on the service type, the Disaster Recovery as a Service market is segmented into Backup Solutions, Real-Time Replication, Data Security and Professional Services. In 2015, Backup solutions have dominated the Disaster Recovery as a Service market by service type with market revenue of $ 491.3 million. However, Professional Services is witnessing a promising growth during the forecast period (2016-2022). The provider?s type highlighted in the report includes Cloud Service Providers, Telecom and Communication Service Providers and Managed Service Providers. Among the three provider type, cloud service providers have dominated the market with market revenue of $ 532.2 million in 2015. Two types of Organization size the market is segmented into large Enterprises and Small & Medium sized Enterprises.
The verticals discussed in the report include BFSI sector, Retail, IT & Telecom, Manufacturing, government, Education, Media & entertainment, Transportation and others. BFSI sector is among the highest revenue contributor to Disaster Recovery as a Service market in 2015 with revenue of $ 236.9 million in 2015. Maximum growth is witnesses in Media & Entertainment sector. Based on region, Disaster Recovery as a Service market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Disaster Recovery as a Service market in 2015. Asia-Pacific would witness highest CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Disaster Recovery as a Service market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Google, Inc., HP Enterprise Company, Amazon.com, Inc., Verizon Communications, Inc., Barracuda Networks, Inc. and Cisco Systems, Inc.