DRaaS Market Insights by Emerging Trends, Growth Forecast With Revenue Analysis

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The global DRaaS market size is expected to grow from USD 5.1 billion in 2020 to USD 14.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. COVID-19 has globally changed the dynamics of business operations. Though the COVID-19 outbreak has thrown light on weaknesses in business models across sectors, it has offered several opportunities to DRaaS vendors to expand their business across enterprises as the adoption of cloud has increased in lockdown caused due to COVID-19. Amidst lockdown, many companies are reducing their IT spending in 2020.

They are strategically reconsidering their Capital Expenditure (CAPEX) spending. According to one of the primary respondents, companies are showing a keen interest in investing in CAPEX models if they are persistently needed; otherwise, they are opting for Operating Expenditure (OPEX) models. To achieve these strategies and avoid capital spending in these difficult financial times, organizations are moving to public cloud for backup and DRaaS.

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The Final Report will cover the impact analysis of COVID-19 on this industry: DRaaS Market Insights by Emerging Trends, Growth Forecast With Revenue Analysis – Global Forecast to 2025

Backup and restore services to help enterprises in achieving easy data recovery
Backup is the process of copying data in cloud computing environments. It enables the retrieval of duplicate sets in case of data loss during downtime or failures, such as power outages, human errors, and natural catastrophes. Recovery refers to the restoration of deleted or damaged files from storage media in the event of disasters. The data recovery process refers to the state of the recovery of specific data that becomes inaccessible because of logical or physical damages to targeted storage devices. The need for backup is increasing among businesses due to the rising amount of data. Backup offers various benefits to enterprises, including increased agility, data retention, lower costs, faster deployments, and improved data protection. It provides cost-effective, automated, reliable, secure, and scalable solutions. These solutions ensure business continuity in the event of disasters. Enterprises with low budgets can outsource their data and applications to DRaaS vendors who provide specialized backup and restore services, and help enterprises reduce their CAPEX and OPEX.

IT and ITeS vertical to grow at the highest rate during the forecast period
The IT and ITeS vertical is referred to as the back office. As businesses evolved, the scenario has changed, and the IT and ITeS vertical has steadily evolved. Digital transformation is a must to survive in a globally connected and competitive environment. IT and ITeS companies invest in new technologies, such as smart computing products, IoT, cloud computing, mobility, and analytics, to gain efficiency, innovation, and attract consumers. The increasing amount of documentation work is creating a huge demand for cloud-based storage, backup, and related services to keep confidential data secure and available on-demand. Hence, the IT and ITeS vertical is expected to grow at a significant growth rate during the forecast period.

North America to hold the largest market size and Middle East and Africa (MEA) to grow at the highest rate during the forecast period
North America is the most mature market in terms of DRaaS solutions adoption, due to several factors, such as the presence of many enterprises with advanced IT infrastructure, and availability of technical expertise. APAC is expected to offer significant growth opportunities for DRaaS solutions vendors during the forecast period. Rapid advancements in emerging technologies, IT infrastructure services, and the Internet of Things (IoT) have led many organizations to adopt DRaaS solutions.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with the key people. The breakup of the profiles of the primary participants as follows:

• By Company Type: Tier I: 34%, Tier II: 37%, and Tier III: 25%
• By Designation: C-Level: 35%, D-Level: 25%, and Others: 40%
• By Region: North America: 46%, Europe: 28%, APAC: 18%, and RoW: 8%

Research Coverage
The report segments the global DRaaS market by service type, the DRaaS market has been segmented into backup and restore, real-time replication, and data protection. By the deployment model, the DRaaS market has been segmented into public cloud and private cloud. Based on organization size, the market has been classified into Small and Medium-sized Enterprises (SMEs) and large enterprises. By vertical, the DRaaS market has been classified into Banking, Financial Services and Insurance (BFSI); telecommunications; IT and Information Technology-enabled Services (ITeS); government and public sector; retail and consumer goods; manufacturing; energy and utilities; media and entertainment; healthcare and life sciences; and others (education, travel and hospitality, and transportation and logistics). By region, the market has been segmented into North America, Europe, APAC, MEA, and Latin America.

Key Benefits of Buying the Report
The report will help the market leaders/new entrants in the DRaaS market with information on the closest approximations of the revenue numbers for the overall DRaaS market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

TABLE OF CONTENT

1 INTRODUCTION 25
1.1 INTRODUCTION TO COVID-19 25
1.2 COVID-19 HEALTH ASSESSMENT 25
FIGURE 1 COVID-19: GLOBAL PROPAGATION 25
FIGURE 2 COVID-19 PROPAGATION: SELECT COUNTRIES 26
1.3 COVID-19 ECONOMIC ASSESSMENT 27
FIGURE 3 REVISED GROSS DOMESTIC PRODUCT FORECASTS
FOR SELECT G20 COUNTRIES IN 2020 27
1.3.1 COVID-19 ECONOMIC IMPACT—SCENARIO ASSESSMENT 28
FIGURE 4 FACTORS IMPACTING GLOBAL ECONOMY 28
FIGURE 5 SCENARIOS IN TERMS OF RECOVERY OF GLOBAL ECONOMY 29
1.4 OBJECTIVES OF THE STUDY 30
1.5 MARKET DEFINITION 30
1.5.1 INCLUSIONS AND EXCLUSIONS 31
1.6 MARKET SCOPE 32
1.6.1 MARKET SEGMENTATION 32
1.6.2 REGIONS COVERED 32
1.6.3 YEARS CONSIDERED FOR THE STUDY 33
1.7 CURRENCY CONSIDERED 33
TABLE 1 UNITED STATES DOLLAR EXCHANGE RATE, 2017–2019 33
1.8 STAKEHOLDERS 33
1.9 SUMMARY OF CHANGES 34

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