DRaaS functions as a cloud computing and backup service model that uses cloud resources to protect data and applications from the disruption caused by various types of disasters. It gives an organization a complete system backup, which allows for business continuity in the event of any system downtime or failure.

- Since computing applications are gaining significance across organizations, cloud technology contributes to market growth. Enterprise IT investments in cloud computing are expected to account for almost one-fourth of the IT expenditure by the end of the forecast period, representing a considerable increase over the last few years.

- The DRaaS market has been gaining momentum, owing to the improved functionality of the increasing number of small and medium enterprises. A majority of the market share is observed to be accounted for by the hybrid configuration (including both physical and cloud-based servers), owing to the increased flexibility of cloud services by cloud service providers, such as AWS and Microsoft.

- It gives huge flexibility and agility to businesses that are dependent on service for a major portion of their revenue. The emergence of 24x7 services providers, especially in small and medium scale business, has further strengthened the demand for the market in order to maintain the competitive edge.

Key Market Trends

Increasing Adoption of Cloud Based Application across the IT Sector

- The cloud-based disaster recovery solutions are found in various applications, of which, the most significant is the inherent benefit of flexibility and cost-effectiveness. Cloud-based disaster recovery leads to faster data recovery, and hence attains the recovery goals of the company.

- With an increase in the adoption of hybrid cloud, SMEs found various benefits to protect them from certain disasters. The adoption of hybrid cloud disaster recovery by businesses helps to eliminate the need for a secondary disaster recovery site. Furthermore, the hybrid cloud also reduces the expenses and complexities of managing and maintaining a system.

The United States is Expected to Hold a Significant Market Share

- Enterprises across the United States have been early adopters of software to manage business operations and customer care. SAP, a market leader in enterprise application solutions, reported that the United States accounted for EUR 7.1 billion of its overall sales. Canada benefitted from being the neighboring nation as many businesses in the country serve the demands generated in the US-based industries.

- With the rising number of SMEs, the data center market in the country witnessed a healthy growth. Furthermore, due to exponential growth in data generation volume, a shift of data has been observed from private servers to cloud networks. This trend entails resilient and reliable backup and recovery solutions, as disruption of services are resulting in huge losses for the service providers.

Competitive Landscape

The DRaaS market is moderately competitive and consists of several major players. In terms of market share, few of the players currently dominate the market. However, with innovation in the field of data storage and security system, the companies are increasing their market presence by securing new contracts and tapping the emerging markets.

- August 2018 - IBM announced that Persistent Systems, Invest India, Wipro Limited, Capgemini, and NASSCOM joined the multi-year Call for Code Global Initiative to create a better future. Call for Code, announced in May 2018, is an ambitious effort to bring startup, academic, and enterprise developers together to solve one of the most pressing issues: preventing, responding to, and recovering from natural disasters.

- July 2018 - Sirius Computer Solutions Inc. and Recovery Point Systems Inc. expanded their partnership to offer a set of packaged, multi­platform Disaster Recovery-as-a-Service (DRaaS) solutions.

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