Global Disaster Recovery as a Service Market Insights, Opportunity Analysis, Market Shares and Forecast 2016 – 2022
The global disaster recovery market is estimated to grow around $2.33 billion in 2016 and it is forecasted to reach around $33.64 billion by 2022 growing at a CAGR of 57% during the forecast period of time. Disaster recovery as a service market is basically a type of cloud computing which helps in protecting and recovery of data from any natural and human disaster. Increasing usage of this technology, in various applications like BFSI, retail etc., helps in fuelling the global disaster recovery market.
The disaster recovery market is forecasted to grow at higher rate in future due to rapid growth and rising IT sector across the world. Wide usage of applications in global disaster recovery market is another factor which helps in fuelling this global disaster recovery market. Although, there are many factors which drive this market, but still there are various challenges which are faced by the market such as lack of infrastructure and more, which immensely affects the growth of the market. There are also some restraints which are faced by global disaster recovery market such as minimal plans for disaster recovery in organizations etc. These are the major factor that hinders the growth of the market.
The global disaster recovery market is segmented on the basis of product, deployment model, company, application and by geography. On the basis of product, the market is segmented into software, hardware, servers, switches/routers and others. Among all product, software segment dominates the market due to increasing number of new entrants in the market. On the basis of deployment model, the market is segmented into To Cloud DraaS, In Cloud DRaaS and From Cloud DRaaS etc. On the basis of companies, the market is segmented into small companies, mid-sized companies and large companies etc. Among all companies, small and medium sized companies are expected to experience robust growth during the forecast period of time. On the basis of applications, the market is segmented into e-commerce/retail, banking and financial institutions (BFSI), government and public sector, manufacturing sector, telecommunication sector, and others. Among all applications, banking and financial institutions is considered as leading segment in terms of revenue, which also helps in propelling the growth of the disaster recovery as a service market. On the basis of geography, Asia Pacific, Europe, ROW, and North America are the major segments of this global disaster recovery market. North America is the leading market in disaster recovery due to technological advancements all across the world. Asia Pacific is forecasted to be the fastest growing region in next 6 to 7 years due to increasing manufacturing sector in the Asian region that also helps in propelling the growth of the global disaster recovery market.
Some of the major players of the market include Google, Microsoft Corporation, Axcient, Acronis international Gmbh, Agility recovery, Amazon.com, Inc., Cisco Systems, Inc., Columbus Business Solution/Cable & Wireless Communications Plc.), Barracuda, Geminare, Incorporated, Hewlett- Packard company, IBM Corporation, Cosentry, NTT Communications Corporation, Rackspace Hosting Inc and so on. Mergers, expansion, acquisition etc. are some of the key strategies adopted by the market players. On 19th July 2015, Adallom was acquired by Microsoft for around $ 320 million.
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