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

The Disaster Recovery-As-A-Service (DRaaS) Market is being driven by Improvements in manageability and protection

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. In the rapidly advancing business landscape, Disaster Recovery-as-a-Service (DRaaS) is an essential component for ensuring business continuity. With the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies, DRaaS providers are revolutionizing data protection and recovery processes. UNITRENDS, a leading backup services company, is a prime example. Their innovative solutions, such as Unitrends Backup software and Recovery Series backup appliances, leverage AI and ML to proactively identify ransomware threats and offer advanced features like post-mortem identification and recovery. By automating intelligent tasks, these technologies significantly enhance labor productivity and enable businesses to mitigate potential disasters more effectively. The integration of AI and ML in DRaaS is a game-changer, ensuring uninterrupted business operations and economic growth in an increasingly competitive market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • Public cloud
  • Private cloud
  • Hybrid cloud
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • India
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Improvements in manageability and protection
• Increasing adoption of cloud-based disaster recovery solutions
• Need to meet RTO and RPO objectives of enterprises

However, the market also witnesses some limitations, which are as follows:

• Availability of open-source disaster recovery tools
• Instilling confidence within a target customer group
• Data privacy and security concerns

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Market Scope in Disaster Recovery-As-A-Service (DRaaS) Market Research Report

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Research Analysis Overview

The Disaster Recovery-as-a-Service (DRaaS) market offers virtual machine backup solutions with data encryption methods to ensure security. Site recovery managers and orchestration platforms facilitate geo-redundancy setup and multi-cloud strategies for business continuity. Application downtime is minimized through data center migration, recovery time analysis, and business impact analysis. Disaster recovery audits, incident response plans, and compliance frameworks address regulatory compliance and security vulnerabilities. Backup storage solutions and data retention policies manage cost-effective data protection. DRaaS provides disaster recovery exercises, service restoration time, system resilience, data integrity checks, application failover, network bandwidth optimization, and latency reduction. Performance optimization, security hardening, and recovery process automation enhance the overall effectiveness and scalability of the service.

Market Research Overview

The Disaster Recovery-as-a-Service (DRaaS) market is a segment of the larger IT consulting and other services market, which encompasses companies providing IT consulting, system integration, application services, business process outsourcing, infrastructure services, and Internet services. According to Technavio, the global IT consulting and other services market, which includes DRaaS providers, will experience growth due to several factors. These include increasing government investments in advanced IT infrastructure to address skills gaps among public sector employees, as well as the growing adoption of replication technologies for backup and recovery, and the importance of meeting both Recovery Time Objectives (RTOs) and Recovery Point Objectives (RPOs) in disaster recovery planning.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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