Disaster Recovery as a Service (DRaaS) Market: More Flexible and Cost-effective DRaaS Solutions to Witness Continuous Rise in Demand

 

Global DRaaS Market: Snapshot

The market for traditional disaster recovery systems (DR) has witnessed vast changes over the past decade. The advent and rising adoption of cloud-based disaster recovery services (also formally referred to disaster recovery as-a-service or DRaaS) has transformed the market and has significantly resulted in the replacement of traditional DR systems with the former. The drastic change in the growth dynamics of the traditional DR market has compelled many leading players in this field to make the move to cloud-based DR systems and services. This has introduced a large number of companies in the market, significantly intensifying competition as well as providing consumers a vast number of options to choose from.

The market is expected to exhibit a remarkable 35.7% CAGR over the period between 2016 and 2024, states Transparency Market Research. If the prediction holds true, the market, which had a valuation of US$1.29 bn in 2015, is expected to rise to US$21.55 bn by 2024, in terms of revenue.

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North America to Continue to Account for Significant Chunk in Revenue

Geographically, North America is the leading revenue generator in the global market and is expected to remain the dominant application segment over the forecast period as well. In terms of end-use applications, the market earned the dominant share in revenues owing to business across the government sector in 2015. Over the forecast period, however, the IT and telecom sector will lead in terms of growth rate.

More Flexible and Cost-effective DRaaS Solutions to Witness Continuous Rise in Demand

Traditional disaster recovery systems require setting up servers with the same configuration as that of the primary site. The configuration of the server at a disaster recovery site must match the one at the primary site for smooth transition of applications and processes. Many times, the consumer is required to purchase both servers at the same time because if the configurations do not match, chances of an outage significantly rise.

Usage of technologies such as converged infrastructure allow DRaaS solutions to eliminate this difference between the primary and secondary sites, allowing little scope for issues associated with synchronization. This makes DRaaS a more flexible as well as a much more cost-efficient disaster recovery solution compared to traditional disaster recovery solutions. These factors have been central to the vast level of adoption witnessed by DRaaS solutions in the past years and will continue to remain a significant force driving the market over the forecast period.

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Security and Compliance Issues to Continue to Hinder Adoption

Some of the key factors hindering the growth of the global DRaaS market are the concerns related to the security and compliance of critical business data, which disaster recovery systems are bound to handle during the replication of systems and data onto public/private cloud, and complexities related to the deployment of DRaaS solutions. Backing up processes and systems on cloud can lead to additional technical hitches owing to the complex nature of existing or conventional IT/system infrastructure of the clients.

Majority of small- and medium-sized companies tend to implement DRaaS solutions during the process of setting up new infrastructure, mitigating the need for surplus charges that large corporations might need to incur to make the move from conventional infrastructure to a DRaaS compliant one. This lack of a complex redundant solution for the deployment of DRaaS solution is one of the key restraints of the global DRaaS market.

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