Global Disaster Recovery as a Service (DRaaS) Market Report, published by Variant Market Research, forecast that the global market is forecasted to reach $19 billion by 2024 from $2 billion in 2016; growing at a CAGR of 34.7% from 2016 to 2024. The disaster recovery as a service (DRaaS) market is majorly driven by the following driving factors such as rising demand for commoditized IT services, growing adoption of cloud based services and stringent regulations for disaster recovery. However, lack of security & compliance and need for high network bandwidth might hinder the growth of the market. Furthermore, rising demand for managed services among enterprise and growing awareness of visualization technologies would provide growth opportunities for the market.
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Service providers, company size, deployment model, cloud type, service type, application and geography are the key segments of the global disaster recovery as a service (DRaaS) market. Service providers segment has been segmented into cloud service providers (CSP), telecom & communication service providers and managed service providers (MSP). Additionally, Application segment includes BSFI, government, manufacturing & logistics, IT & telecom, retail & e-commerce, media & entertainment, education and others.
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The global disaster recovery as a service (DRaaS) market by geography is bifurcated into North America, Europe, Asia-Pacific and RoW. North America held the highest market share of 34.5% in 2016 and is anticipated to grow at the fastest CAGR during the forecast period. Europe accounted for the second largest market share.
Various strategies have been adopted by the market players to boost their geographical presence and product portfolio. The major players in the disaster recovery as a service (DRaaS) market include IBM Corp., HP Enterprises Company, Amazon Web Services, TierPoint, LLC, Cisco Systems, Inc., SunGard Availability Services, Symantec Corporation, Microsoft Corporation, NTT Communications Corporation, and VMWare, Inc., among others.

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