Pune, July 29, 2024 — Meticulous Research®, a leading global market research company, has published a new report titled, "Disaster Recovery-as-a-Service Market by Operating Model (Managed DRaaS, Assisted DRaaS), Function, Organization Size, Sector (IT & Telecommunications, BFSI, Retail, Healthcare), and Geography - Global Forecast to 2030."
According to this latest publication from Meticulous Research®, the Disaster Recovery-as-a-Service market is projected to reach $31.6 billion by 2030, growing at a CAGR of 20.5% from 2023 to 2030. The growth of the Disaster Recovery-as-a-Service market is primarily driven by the increasing demand for data security and scalability, rising incidents of data breaches and ransomware attacks, and the growing adoption of Disaster Recovery-as-a-Service in the BFSI sector. However, the complexity of deployment and setting terms restrains market growth. The growing adoption of advanced technologies such as AI and machine learning and the increasing adoption of cloud-based solutions among SMEs are expected to create significant growth opportunities in the market. One of the major challenges for players operating in this market is the lack of awareness and misconceptions regarding disaster recovery service solutions among potential customers.
Market Segmentation and Key Findings:
Operating Model:
• The market is segmented into managed DRaaS, assisted DRaaS, and self-service DRaaS.
• In 2023, the managed DRaaS segment is expected to hold the largest market share due to its rising adoption in the IT & telecommunications sector and the need for business continuity across organizations. This segment is also projected to register the highest CAGR during the forecast period.
Function:
• Segments include data protection, backup & recovery, and other functions.
• The data protection segment is anticipated to dominate the market in 2023, driven by the increasing number of data breaches and ransomware attacks. Meanwhile, the backup & recovery segment is expected to witness the highest CAGR due to the rising adoption of cloud data backup and growing demand in the BFSI sector.
Organization Size:
• Divided into large enterprises and small & medium-sized enterprises (SMEs).
• Large enterprises are expected to account for the larger market share in 2023, attributed to their strong IT infrastructure and the management of disaster recovery platforms by skilled IT personnel. However, SMEs are expected to register the highest CAGR during the forecast period.
Sector:
• Segments include BFSI, IT & telecommunications, retail, manufacturing, healthcare, government, energy & utility, and other sectors.
• The IT & telecommunications sector is anticipated to hold the largest market share in 2023 due to the need for business continuity and the adoption of cloud solutions. The BFSI sector is projected to register the highest CAGR during the forecast period, driven by the rising need for fraud prevention and business agility.
Geography:
• The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
• North America is expected to hold the largest market share in 2023, attributed to the presence of prominent players and the growing adoption of advanced technologies. The Asia-Pacific region is projected to register the fastest growth rate during the forecast period due to regional economic growth and expanding awareness about disaster recovery services.
Key Players: The report profiles major players in the Disaster Recovery-as-a-Service market, including IBM Corporation (U.S.), Microsoft Corporation (U.S.), Sungard Availability Services LP (U.S.), VMware, Inc. (U.S.), Axcient, Inc. (U.S.), Cloudian Inc. (U.S.), Acronis International GmbH (Switzerland), Oracle Corporation (U.S.), TierPoint, LLC (U.S.), Datto, Inc. (U.S.), Unitrends, Inc. (U.S.), Cloud4C Services Pte. Ltd (Singapore), Recovery Point Systems, Inc. (U.S.), Infrascale Inc. (U.S.), and InterVision Systems, LLC. (U.S.).
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Key Questions Answered in the Report:
• What are the high-growth market segments in terms of operating model, function, organization size, and sector?
• What is the historical market size for Disaster Recovery-as-a-Service across the globe?
• What are the market forecasts and estimates for 2023–2030?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global Disaster Recovery-as-a-Service market?
• Who are the major players in the global Disaster Recovery-as-a-Service market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global Disaster Recovery-as-a-Service market?
• What are the different strategies adopted by major market players?
• What are the geographic trends and high-growth countries?
• Who are the local emerging players in the global Disaster Recovery-as-a-Service market, and how do they compete with other players?

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