Disaster Recovery as a service (DRaaS) Global Market Report 2024

The disaster recovery as a service (draas) market size has grown exponentially in recent years. It will grow from $9.6 billion in 2023 to $12.23 billion in 2024 at a compound annual growth rate (CAGR) of 27.4%. The expansion witnessed in the historical period can be attributed to a heightened reliance on data, escalating scalability requirements, a surge in data vulnerabilities, the intricate nature of IT infrastructure, and an upswing in cyber threats.

The disaster recovery as a service (draas) market size is expected to see exponential growth in the next few years. It will grow to $33.48 billion in 2028 at a compound annual growth rate (CAGR) of 28.6%. The projected growth is fueled by AI and machine learning integration, continuous data protection (CDP), edge computing resilience, ransomware mitigation, multi-cloud adoption, and interoperability. Major trends include cost optimization, scalability, resilience against disasters, automation, real-time recovery, and the shift to remote work.

The surge in demand for safeguarding both public and private data is fueling the expansion of the Disaster Recovery as a Service (DRaaS) market. With a staggering 2.5 quintillion bytes of data generated daily, unplanned system downtime emerges as a significant contributor to data loss, leading to the shutdown of various companies. The potential losses and damages resulting from system downtimes are substantial, necessitating the provision of backup services. These services play a crucial role in assuring companies against unforeseen disasters, consequently propelling the growth of the DRaaS market. For instance, as per a study by invenio IT, fewer than 10% of companies survive a disaster without a comprehensive recovery plan. This statistic includes not only small market players but also major corporations such as FedEx and Nissan, underscoring the universal need for backup services.

The escalating threats posed by cyber-attacks are anticipated to drive the future growth of the Disaster Recovery as a Service (DRaaS) market. A cyber-attack encompasses any attempt to gain unauthorized access to a computer, computing system, or network with the intent of causing harm. DRaaS serves as a crucial mitigating factor against cyber threats by facilitating data recovery from secure offsite backups and ensuring swift, automated system failover to maintain business operations with minimal downtime. For example, in June 2022, the Anti-Phishing Working Group, a US-based organization, reported a total of 1,025,968 phishing attacks in the first quarter of the same year. This marked a 15% increase from the fourth quarter of 2021, when 888,585 attacks were recorded. Consequently, the rising risks associated with cyber-attacks are steering the growth trajectory of the Disaster Recovery as a Service (DRaaS) market.

Companies have embraced the integration of AI and Machine Learning into their Disaster Recovery as a Service (DRaaS) solutions to proactively identify and address potential risks due to the increasing prevalence of cyber threats. Predictive learning algorithms are being developed to discern between genuine and false disaster recovery scenarios. These algorithms have the capability to autonomously execute proactive recovery measures, preventing outages before they become apparent. For instance, Unitrends, a US-based company, incorporates artificial intelligence (AI) in its services, actively running during every backup operation to detect backups affected by ransomware. Upon identifying data threats, the company promptly notifies stakeholders, leveraging AI and advanced technologies to enhance data security.

Leading enterprises in the disaster recovery as a service (DRaaS) market are innovating technological solutions, exemplified by the introduction of Verinext DRaaS Managed Service, to strengthen their global footprint. The Verinext DRaaS Managed Service provides secure, compliant, and flexible DRaaS managed services, catering to customers seeking ransomware resistance, continuous data protection, and availability with minimal data loss or downtime. For instance, in July 2023, Verinext Corporation, a US-based IT service management company, launched a disaster recovery-as-a-service (DRaaS) solution on HPE GreenLake. Deployed in dedicated Verinext data centers, this solution incorporates disaster recovery software from Zerto, a Hewlett Packard Enterprise company, capitalizing on the agility of the HPE GreenLake platform for swift customer onboarding and scalability.

In August 2023, First Onsite Property Restoration, a US-based company specializing in disaster recovery and restoration services for commercial businesses, disclosed its acquisition of Case Restoration for an undisclosed sum. This acquisition aligns with First Onsite's strategic goal of enhancing customer experiences through an expanded range of crucial services and swift responsiveness. Case Restoration, also based in the US, offers commercial services in mitigation, general contracting, fire and water restoration, demolition, and roofing.

Major companies operating in the disaster recovery as a service (draas) market report are Amazon.com Inc., Microsoft Corporation, Verizon Communications Inc., NTT Communications Corporation, Dell Inc., The International Business Machines Corporation, Cisco Systems Inc., The Hewlett Packard Enterprise Company, VMWare Inc., Geminare Incorporated, Windstream Holdings II LLC, Symantec Corporation, Cable& Wireless Communications Limited, Sun Gard Availability Services, Commvault, Datto Inc., TierPoint LLC, Acronis International GmbH, 11,11 Systems Inc., Node Africa, Evolve IP LLC, Insight Partners, Axcient, Infrascale Inc., Recovery Point Systems Inc., Treo Information Technologies, Disaster Recovery South Africa PTY. Ltd., Bluelock, Quorum Business Solutions Inc., Cloud Software Group Inc.

The Asia-Pacific was the largest region in the disaster recovery as a service (DRaaS) industry in 2023. Asia-Pacific is expected to be the fastest-growing region in the global disaster recovery as a service (draas) market analysis report during the forecast period. The regions covered in the disaster recovery as a service (draas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the disaster recovery as a service (draas) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary service categories within disaster recovery as a service (DRaaS) encompass backup and recovery, real-time replication, and data protection. Real-time replication involves the continuous synchronization of data between a source and a destination database whenever a change occurs in the data source. The clouds utilized in DRaaS include public, private, and hybrid options, adhering to deployment models such as premises-to-cloud and cloud-to-cloud. Enterprises of various sizes, including large enterprises and small & medium enterprises, can benefit from DRaaS. Application areas span across banking, financial services and insurance (BFSI), government, IT and telecom, media and entertainment, manufacturing and logistics, as well as education.

The disaster recovery as a service (DRaaS) market research report is one of a series of new reports that provides disaster recovery as a service (DRaaS) market statistics, including disaster recovery as a service (DRaaS) industry global market size, regional shares, competitors with a disaster recovery as a service (DRaaS) market share, detailed disaster recovery as a service (DRaaS) market segments, market trends and opportunities, and any further data you may need to thrive in the disaster recovery as a service (DRaaS) industry. This disaster recovery as a service (DRaaS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The disaster recovery as a service (DRaaS) market includes revenues earned by entities by providing cloud-based disaster recovery as a service for protecting applications and data from the disruption caused due to disaster. DRaaS helps in business continuity in any event of system failure. Some features of these solutions are hybrid cloud availability monitoring, cross-cloud infrastructure management, and cross-platform health monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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