Disaster recovery as a service (DRaaS) is one of the cloud computing service model. With the help of DRaaS, organizations can back up their data and IT infrastructure. DRaaS provides fail-safe mode on virtual servers, including computer, storage, and networking functions. One of the crucial advantages of DRaaS cloud over physical is that its on-premises infrastructure is quicker, easier, and offer cheaper scalability. Cloud-based disaster recovery system provides more secure data infrastructure backup offering encrypted data storage as a standard.
Rising popularity of attacks such as, credential stuffing attacks is expected to increase the DRaaS market. Also, increasing demand for the effective DRaaS solutions to address the threats, and increasing demand for the cloud based DRaaS services, these are the major driving factors for the growth of the DRaaS market. Furthermore, number of organizations around the world are adopting digitization and wide use of DRaaS in diverse sectors such as banking, financial services, and insurance (BFSI), IT & telecommunication, healthcare, etc., is contributing towards surge of market.. Along with that, disposable income of consumers across cloud technologies and others. All these factors create the market for DRaaS in up-coming years.
Leading companies operating in information technology industry have been working towards advanced development, thus, offering various advance features in DRaaS. Additionally, concerns related to security breach, less technological awareness among people and strict government regulations for data breach may restrain the market valuation for DRaas Market. . Some of the key players in the market include Microsoft Corporation, IBM Corporation, AWS, VMware, iLand Internet Solution Corporation, Recovery Point Systems Inc., Bluelock LLC, Sungard Availability Services, Axcient, Quorum, and others.
Trends and Future Outlook:
- Growing technological advancements in BFSI sector creates the demand for DRaaS.
- Increasing overall expansion of the telecommunication sector
- Increasing implementation of DRaaS solution for enabling data security, protecting cyber-attacks in online businesses.