The increasing level of competition among businesses has created a need to ensure protection, mending, and backing up & recovery to prevent loss or theft of vital data, and is a primary factor anticipated to drive the Disaster Recovery as a Service (DRaaS) Market demand. Faster recovery, greater flexibility, and cost-effectiveness are also potential market drivers. DRaaS enables faster recovery of data by minimizing downtime. Modern-day technology does not employ any hardware component to execute the process due to the integration with cloud services, thereby providing a cost-effective method. High flexibility is ensured as DRaaS involves no hardware, staff, or training for execution. The solution solely works on a cloud platform, which automates the operations efficiently.
Potential services offered by DRaaS include DR planning, testing, backup solutions, data compliance, real-time replication, data security, system integration and consultation, maintenance, and support. DRS can greatly provide financial benefits through reduction in installation cost, buying, upgrading, and maintenance of services and tools. The industry is witnessing a paradigm shift with the adoption of cloud-based services that are flexible and scalable, providing easy entry and per person access costs. Large-scale utilization of hybrid cloud DRaaS and increasing usage among mobile service providers are expected to provide avenues for industry growth.
The DRaaS market is essentially bifurcated on two main parameters that are Recovery Point Objective (RPO) and Recovery Time Objective (RTO). RTO calculates the amount of downtime a business can afford without any prominent loss and RPO enables the system to figure out which recovery process would maneuver the process after predicting the amount of downtime. Large-scale usage of cloud recovery solutions and services substantially reduces the operational cost. Cloud-based DRaaS enables the enterprise and customer to store and execute the system processes on the cloud platform. Employing cloud services largely reduces cost, frees up the in-system resources, and speeds up the recovery process of the system. High-scale usage of cloud service shortens the recovery process which in turn provides savings. Disaster management on cloud platforms must incorporate networking, testing, and failovers to guarantee business continuity in the scenario of any man-made or natural disaster.
The industry is majorly segmented into categories such as solutions, which include real-time replication, cloud service provider, disaster recovery service provider, data security & compliance, and planning & testing. DRAS is used across healthcare, government, telecommunication, BFSI, retail & wholesale, information technology, media & entertainment, transportation & logistics, and manufacturing sectors. Based on service, the market is segmented into consulting & system integration, managed service, and support and maintenance.
Large deployment models are used by system integrators and solutions vendors to execute the DRaaS disaster recovery solutions. High-end organizations incorporate this service to capture better recovery mechanisms and save upfront investments. Significant factors which are expected to upsurge the market demand include a high preference for incorporating IT services to automate the businesses, increased penetration of cloud computing. Integration of big data applications, adoption of virtualization technologies coupled with growing awareness of the potential offered by these services is anticipated to elevate product demand over the forecast period. A major challenge faced by the industry includes platform-dependent cloud services and the non-existence of disaster recovery programs among small and medium-scale businesses.
Budget constraints prevent SMEs from using cloud-based services and thereby lead to loss of crucial information and legal documents due to the occurrence of a failure. Further, the security of data over the channel, location, and compliance with existing systems may pose a hindrance in terms of adoption to several companies. A few applications do not support platform-dependent cloud-based services, which may pose a challenge to the market demand. The market is witnessing a trend where vendors are shifting their setup from on sight to the cloud, which provides faster deployment, more scalability & flexibility, and effectively stores crucial data.
Key players in the market include Acxiom Corporation, Amazon Web Services Inc., Columbus Business Solutions, Acronis International GmbH, Axcient Inc., DataGardens Inc., Hewlett-Packard (HP), Databarracks Ltd., Geminare Incorporated, International Business Machines (IBM) Corporation. Netmagic Solutions Private Ltd, Persistent Systems Ltd, Phoenix IT Group PLC, Zetta Inc., VMWare Inc., Seagate Technology LLC, SunGard, Verizon Enterprise Solutions, and Windstream Communications.
Research Support Specialist, USA
FREE sample contains market data points, ranging from trend analyses to market estimates & forecasts. See for yourself...