Global DRaaS market analysis and insights
The global market for Disaster Recovery as a Service (DRaaS) estimated at US$7.2 billion in the year 2023, is projected to reach $26.5 billion by 2030, driven by the need to preserve digital assets in this information driven world.
Key benefits of DRaaS include lower costs, CAPEX and complexity; faster deployment; 100% recovery in as less a time frame as possible; ability to recover even applications and run IT systems in the cloud; high security and resilience; and compliance to PCI, HIPAA, and SOX regulations. In light of the widely reported natural disasters in recent years, enterprise perception about cloud-based disaster recovery at the corporate board level has evolved from that of an ‘option’ to that of a ‘necessity’.
The market is forecast to benefit from the growing investments in disruptive cloud technologies. With the recession breaking down institutional rigidity and forcing companies to adopt fundamentally different approaches to value creation, poised to benefit is DRaaS. As a disruptive form of cloud computing, DRaaS in the current changing social, political, and technological scenario, is more than just recovery, it is migration to a platform that offers long-term sustainability.
Major factors expected to spur growth in the DRaaS market include rising preference for commoditized IT services to run businesses; evolution of cloud computing into specialized clouds; promised emergence of cloud exchanges and the ensuing boost to customer confidence in the DRaaS cloud service model; growing awareness over the true cost of IT outages; increased adoption of virtualization technologies; mainstream use of big data applications; growing need for BYOD disaster recovery; and legislation of stringent disaster recovery regulations worldwide.
DRaaS regional market insights
North American DRaaS market is expected to grow significantly over the forecast period 2023-2030. This growth can be attributed to the rising adoption of cloud-based technologies and need for business continuity planning among organizations. United States contributed around 79% of the total North American DRaaS market, with a market size of US$2.1 billion in 2023. Among the other noteworthy geographic markets are Canada and Mexico, each forecast to grow at 14.9% and 12.3% respectively over the forecast period.
Asia-Pacific DRaaS market is anticipated to witness an upsurge owing to the rapid industrialization and urbanization in the region. Moreover, the market is being driven by widespread adoption of cloud-based services and the emerging trend of digitization in developing countries like China and India. China is expected to dominate the Asia-Pacific market and reach a market size of US$4.7 billion by 2030.
Within Europe, Germany, France, Italy and the U.K. are the key countries responsible for the significant growth of the regional market. Germany is expected to grow at a fastest CAGR of 15.8% over the forecast period.
Meanwhile, the Middle East & Africa is expected to show limited growth due to the strong presence of under-developed countries in Africa who are still struggling to meet technology standards. However, any growth that the region experiences is expected to come from developing Middle Eastern nations such as Qatar, U.A.E, and Oman due to a similar growth pattern as the Asia Pacific.
Key players
Key players profiled in the report include Acxiom Corporation; Amazon Web Services, Inc.; Axcient; CA Technologies, Inc.; CenturyLink, Inc.; Datto, Inc.; Equifax, Inc.; Hewlett-Packard Development Company LP; IBM Corporation; iland Internet Solutions; Microsoft Corporation; Rackspace; Veeam; Verizon Communications, Inc.; Vmware, Inc. and Windstream Communications, among others.
Competitive Landscape
April 23, 2024 – Veeam Software, the #1 leader by market share in Data Protection and Ransomware Recovery, announced the acquisition of Coveware, a leading provider in cyber-extortion incident response. It brings best-in-class ransomware recovery and first responder capabilities to further strengthen Veeam’s radical resilience solutions for customers.
April 16, 2024 – Commvault, a leading provider of cyber resilience and data protection solutions for the hybrid cloud, announced the acquisition of Appranix, a cloud cyber resilience company. Commvault is making this acquisition to help enterprises get up and running even faster after an outage or cyberattack.
DRaaS market scope
- By service type
- Backup and recovery
- Real-time replication
- Data security
- Professional services
- Consulting
- Training and education
- Support and maintenance
- Others
- By deployment model
- Public cloud
- Private cloud
- Hybrid cloud
- By operating model
- Managed DRaaS
- Assisted DRaaS
- Self-service DRaaS
- By organization size
- Small and medium-sized enterprises (SMEs)
- Large enterprises
- By industry vertical
- Banking, financial services, and insurance (BFSI)
- IT and Telecom
- Healthcare and life sciences
- Retail and ecommerce
- Government & public sector
- Energy and utilities
- Manufacturing
- Media and entertainment
- Transportation
- Others
- By region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
| Report Attribute | Details |
| No. of Pages | 258 |
| Published | May-2024 |
| Forecast Period | 2023-2030 |
| Estimated Market Size in 2023 | US$7.2 billion |
| Forecasted Market Size by 2030 | US$26.5 billion |
| CAGR | 20.5% |
| Regions Covered | North America, South America, Europe, Asia Pacific, Middle East and Africa |
| Companies Mentioned | Acxiom Corporation; Amazon Web Services, Inc.; Axcient; CA Technologies, Inc.; CenturyLink, Inc.; Datto, Inc.; Equifax, Inc.; Hewlett-Packard Development Company LP; IBM Corporation; iland Internet Solutions; Microsoft Corporation; Rackspace; Veeam; Verizon Communications, Inc.; Vmware, Inc. and Windstream Communications, among others. |
The research report provides a comprehensive review of market trends (Technology, Product and Application analysis), market growth drivers, PEST Analysis (Political, Economic, Social and Technological Analysis) Market growth inhibitors, and strategic industry activities and SWOT Analysis of key players in the market. The report provides market estimates and forecast for geographic markets such as the North America (United States, Canada, Mexico and Rest of North America), South America (Brazil, Argentina Chile Colombia Peru Venezuela Ecuador and Rest of South America), Europe (Germany, France, U.K., Russia, Italy, Spain, Sweden, Netherlands, Poland, Austria, Belgium, Finland, Norway, Switzerland, Denmark, Czech Republic, Portugal and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Philippines, Malaysia and Rest of Asia-Pacific), Middle East (Iran, Turkey, Kuwait, UAE, Israel, Oman, Bahrain, Saudi Arabia, Qatar, Egypt and Rest of Middle East) & Africa.
Research Methodology
