Disaster Recovery-as-a-Service Market Research & Forecast: Evaluating DRaaS Adoption by Country | Growing at 23.9% CAGR

July 28, 2023 03:28 AM PDT | By EIN Presswire

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Disaster Recovery-as-a-Service Market Research & Forecast: Evaluating DRaaS Adoption by Country | Growing at 23.9% CAGR — Image source: EIN Presswire

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Cloud adoption, cybersecurity concerns, automation demand, and global market expansion drive the Disaster Recovery-as-a-Service market.

PORTLAND, OREGON, UNITED STATES, July 28, 2023/EINPresswire.com/ -- The Global Disaster Recovery-as-a-Service Market was assessed at $6.5 billion in 2021 and is anticipated to increase to $60.4 billion by 2031, with a compound annual growth rate (CAGR) of 23.9% from 2022 to 2031.

The market for disaster recovery as a service is expanding quickly since it is a crucial component for ensuring company continuity. In the event of natural or man-made disasters including hurricanes, earthquakes, wildfires, power outages, and cyberattacks, disaster recovery as a service supports the organization. A business can back up its data and IT infrastructure using the cloud computing service model known as "Disaster Recovery-as-a-Service" on a different company's cloud computing platform.

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One of the prominent trends is the increasing adoption of cloud-based DR solutions. Organizations are embracing DRaaS to leverage the scalability, flexibility, and cost-effectiveness of the cloud. This trend allows businesses to have off-site data replication, ensuring data availability and faster recovery in the event of a disaster.

With the rise in cyber threats, DRaaS is evolving to include robust cybersecurity features. The market has seen a surge in demand for DR solutions that can protect against ransomware attacks and secure data during transit and storage. Ensuring data integrity and confidentiality has become a crucial aspect of modern DRaaS offerings.

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Another trend is the integration of automation and orchestration capabilities in DRaaS solutions. Automated failover and failback processes enable faster recovery times and reduce downtime during disaster scenarios. Orchestration allows businesses to define recovery workflows and streamline the restoration process, enhancing overall business resilience.

The DRaaS market is witnessing global expansion, with more vendors offering DR solutions tailored to specific industries and regions. The demand for reliable DRaaS services is growing across various sectors, including healthcare, finance, and government, as businesses recognize the need for comprehensive disaster recovery plans to safeguard critical data and ensure uninterrupted operations.

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The key players profiled in the disaster recovery-as-a-service market report include IBM Corporation, Axcient, Sunguard, Amazon Web Services, Inc., Cable & Wireless Communications Limited., TierPoint, LLC., Microsoft Corporation, VMware Inc., NTT Communications Corporation, and Rackspace Technology.

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