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Global Disaster Recovery-as-a-Service Market Expected to Grow Substantially Owing Various Benefits of Cloud Computing Service Model of Disaster Recovery | Defined by Research DiveThe global disaster recovery-as-a-service market is expected to grow primarily due to various benefits of cloud computing service model of disaster recovery. Public cloud sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031. NEW YORK, April 3, 2023 /PRNewswire/ -- Global Disaster Recovery-as-a-Service Market Forecast Analysis: As per the report published by Research Dive, the global disaster recovery-as-a-service market is expected to register a revenue of $60,404.3 million by 2031 at a CAGR of 23.9% during the forecast period 2022-2031.  Segments of the Disaster Recovery-as-a-Service Market The report has divided the disaster recovery-as-a-service market into the following segments: Operating Model: managed DRaaS, assisted DRaaS, and self-service DRaaS Service Type: real-time replication, backup & restore, data protection, and others Deployment Mode: public cloud and private cloud Organization Size: large enterprise and small & medium-sized enterprises End-use Industry: Banking, Financial Services, and Insurance (BFSI), IT & Telecommunication, government & public sector, healthcare, retail & consumer goods, and media & entertainment, and others Region: North America, Europe, Asia-Pacific, and LAMEA To get access to the Complete PDF Sample of Disaster Recovery-as-a-Service Market Click Here!
Dynamics of the Global Disaster Recovery-as-a-Service Market The various benefits, such as cost-effectiveness, offered by the cloud computing service model of disaster recovery is expected to become the primary growth driver of the disaster recovery-as-a-service market in the forecast period. Additionally, growing expanse of large-scale internet services such as data backup and information recovery is predicted to propel the market forward. However, according to market analysts, data breach and security issues due to increasing data volumes might become a restraint in the growth of the market. The flexibility offered by disaster recovery-as-a-service in facilitating efficient recovery of crucial data during different disasters such as floods, hurricanes, earthquakes, and wildfires is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, the growing popularity of cloud-based services is expected to propel the market growth in the coming period. COVID-19 Impact on the Global Disaster Recovery-as-a-Service Market The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The disaster recovery-as-a-service market, however, was positively impacted due to the pandemic. Lockdowns and travel restrictions during the pandemic led to an increase in online transactions which caused a growth in demand for data security solutions. This helped the market register a positive growth rate during the pandemic Key Players of the Global Disaster Recovery-as-a-Service Market The major players of the market include
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth. For instance, in January 2022, Dataprise, a leading IT service management firm, announced the acquisition of Global Data Vault, a disaster recovery-as-a-service (DRaaS) and Backup-as-a-service (BaaS) provider. This acquisition is expected to expand the market share of the acquiring company, i.e., Dataprise in the coming period. What the Report Covers Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.) More about Disaster Recovery-as-a-Service Market:
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About Research Dive Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge. Contact: Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg
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