According to a new report, published by KBV research, The Global Disaster Recovery as a Service Market size is expected to reach $70.53 billion by 2031, rising at a market growth of 25.7% CAGR during the forecast period.
The Public Cloud segment captured the maximum revenue in the Global Disaster Recovery As A Service Market by Deployment in 2023, thereby, achieving a market value of $44.2 billion by 2031. The public cloud segment is driven by cost-effectiveness, scalability, and the growing adoption of cloud-first strategies across industries. Businesses, particularly startups and SMEs, prefer public cloud DRaaS solutions due to their low upfront investment, pay-as-you-go pricing models, and ease of deployment.
The Recovery & Backup Services segment is experiencing a CAGR of 25 % during the forecast period. This lead can be ascribed to the increasing demand for automated and economically efficient backup solutions, which guarantee that enterprises can recover essential data and applications in the event of system malfunctions or cyber incidents. Organizations increasingly prioritize disaster preparedness, and recovery & backup services provide a scalable and flexible approach to maintaining business continuity.
The Cloud Service Providers segment led the maximum revenue in the Global Disaster Recovery As A Service Market by Provider in 2023, thereby, achieving a market value of $35.9 billion by 2031. The widespread adoption of cloud computing, hybrid IT environments, and multi-cloud strategies drives this dominance. Prominent cloud service providers, including Amazon Web Services (AWS), Microsoft Azure, and Google Cloud, deliver cost-effective, scalable, and artificial intelligence-enhanced disaster recovery solutions, rendering them the preferable option for enterprises of varying sizes.
The BFSI segment is growing at a CAGR of 23.3 % during the forecast period. Banks and financial institutions manage sensitive customer information and engage in real-time transactions, rendering them frequent targets for cyberattacks, fraudulent activities, and ransomware threats. Regulatory frameworks such as PCI DSS, GDPR, and Basel III mandate robust disaster recovery strategies to ensure business continuity, data protection, and risk mitigation.
Full Report: https://www.kbvresearch.com/disaster-recovery-as-a-service-market/
The North America region dominated the Global Disaster Recovery As A Service Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $25.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 25.3% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 26.4% during (2024 - 2031).
By Deployment
By Service Type
By Provider
By End-use
Unique Offerings 
