improvements in manageability and protection is driving the Disaster Recovery-As-A-Service (Draas) Market

Latest News:- Disaster Recovery-As-A-Service (Draas) Market: Public cloud is expected to lead the Deployment segment during 2024-2028

Technavio analyzes that the Disaster Recovery-As-A-Service (Draas) Market is expected to grow at a CAGR of 70.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 171389.9 million.There are various factors that contribute to the growth of the market. The Disaster Recovery-as-a-Service (DRaaS) market has witnessed significant advancements, offering enhanced manageability and robust protection for businesses. DRaaS solutions enable organizations to replicate and store data in the cloud, ensuring business continuity during disasters. These services provide automated failover and rapid recovery, reducing downtime and minimizing data loss. Additionally, DRaaS solutions offer flexible scalability, allowing businesses to easily adjust resources based on their needs. Overall, DRaaS provides a cost-effective and efficient disaster recovery solution for businesses of all sizes.

In today's business landscape, organizations seek reliable and cost-effective solutions for their IT operations, particularly in disaster recovery. Amazon Web Services (AWS) and other cloud providers offer Disaster Recovery-as-a-Service (DRaaS) on a public cloud, providing several advantages. These include cost savings through on-demand billing and eliminating capital expenditures. Additionally, public cloud-based DRaaS offers customizable solutions to accommodate evolving business requirements. With managed, assisted, and self-service DRaaS options, planning and backup management software for virtual machines are seamlessly integrated. Public cloud DRaaS allows organizations to maintain business continuity while optimizing resources and reducing costs. 

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Disaster Recovery-As-A-Service (Draas) Market Segmentation

• Deployment
  • Public cloud
  • Private cloud
  • Hybrid cloud
• Geography
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa

Top Performing Companies

As per our research findings, here are some of the key competitors that are leading the industry

• 11 11 Systems Inc.
• 2nd Watch Inc.
• Acronis International GmbH
• Amazon.com Inc.
• Broadcom Inc.
• Cisco Systems Inc.
• Citrix Systems Inc.
• Commvault Systems Inc.
• Dell Technologies Inc.
• Fidelity National Information Services Inc.
• Hewlett Packard Enterprise Co.
• International Business Machines Corp.
• InterVision Systems LLC
• IPC Systems Inc.
• Liberty Latin America Ltd.
• Microsoft Corp.
• Nippon Telegraph and Telephone Corp.
• Oracle Corp.
• Rackspace Technology Inc.
• Recovery Point System
• TierPoint LLC
• VMware Inc.

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Research Analysis Overview

In the event of a natural disaster or power outage, Disaster Recovery-as-a-Service (DRaaS) offers businesses a third-party solution for safeguarding their physical and virtual servers. Through hosting and replication in a remote vendor's data center, businesses can ensure business continuity with failover capabilities. DRaaS utilizes a globally distributed architecture for uninterrupted access to computing resources. Customer support and on-demand billing are key benefits, making it an attractive alternative to on-premise solutions. DRaaS offers various operating models, including managed, assisted, and self-service, catering to different planning needs. Backup management software, virtual machines, and remote data centers are integral components of this cloud-based solution.

Market Research Overview

The Disaster Recovery-as-a-Service (DRaaS) market is a segment of the larger IT infrastructure services sector, which encompasses third-party providers offering disaster recovery solutions. DRaaS includes services such as replication, hosting, and failover for physical and virtual servers. The market's expansion is attributed to several factors, including the increasing prevalence of natural disasters and power outages, the need for business continuity plans, and the growing recognition of the benefits of outsourcing disaster recovery to specialized service providers. As per Technavio's market research, the global IT consulting and other services market, which includes IT consulting and information management firms, is expected to grow due to rising government investments in modernizing IT infrastructure and the subsequent demand for expert IT services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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Technavio Research
Jesse Maida
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