Market Overview:
The DRaaS market size is expected to grow from USD 5.73 billion in 2022 to USD 24.17 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 30.8% during the forecast period. DRaaS stands for Disaster Recovery as a Service, which is a cloud-based solution for protecting and recovering data and applications in the event of a disaster. It provides businesses with a cost-effective and flexible way to ensure business continuity by replicating critical data and applications to an off-site location. The DRaaS market is driven by the increasing adoption of cloud-based solutions and the growing need for disaster recovery services to minimize downtime and ensure business continuity in the event of a disaster. The key trends driving the growth of the DRaaS market include the increasing demand for hybrid cloud solutions, rising awareness about the benefits of DRaaS, and the growing adoption of IoT and edge computing technologies. The adoption of DRaaS is also being driven by the need to comply with regulations and standards, such as GDPR and HIPAA, which require businesses to have effective disaster recovery plans in place.
Driver: Growing adoption of cloud-based solutions is propelling DRaaS Market growth.
One driving factor of the DRaaS Market is the increasing adoption of cloud-based solutions for disaster recovery. As businesses rely more and more on digital systems and data, the need for reliable backup and recovery in the event of a disaster becomes paramount. DRaaS offers a cost-effective and scalable solution for businesses of all sizes to protect their critical data and applications. With the cloud-based DRaaS model, businesses can avoid the high costs of on-premises disaster recovery infrastructure and the need for specialized IT staff to manage it. The ease of deployment and management, as well as the ability to scale resources up or down as needed, make DRaaS an attractive option for businesses seeking reliable disaster recovery solutions.
Segmentation:
By Service type
• Backup and Recovery
• Data Replication
• Real-Time Replication
• Others
By Deployment mode
• Public
• Private
• Hybrid cloud
By Organization size
• Small and Medium-Sized Enterprises
• Large Enterprises
By Vertical
• BFSI
• IT and Telecom
• Healthcare
• Government
• Retail
• Others

Geographical Analysis:
The DRaaS Market is dominated by North America, followed by Europe and Asia-Pacific. The high adoption rate of cloud-based services, the presence of major DRaaS providers, and the increasing demand for efficient and secure disaster recovery solutions are some of the key factors contributing to the dominance of North America in the DRaaS market.
Recent Development: Global DRaaS Market
• In November 2019, DRaaS provider, Unitrends, acquired virtual backup provider, PHD Virtual Technologies, to strengthen its DRaaS solutions.
• DRaaS provider, Agility Recovery, announced in December 2019 that it had secured USD 117 million in funding from private equity firm, LLR Partners, to support its growth and expansion plans.
• In May 2020, Druva, a cloud data protection and management company, announced the acquisition of sfApex, a leading Salesforce consulting partner. The acquisition aimed to expand Druva's offerings in Salesforce data protection and enhance its DRaaS capabilities.
• In July 2020, Acronis, a global leader in cyber protection, announced the acquisition of DeviceLock, a leading provider of endpoint device/port control and data leak prevention software. The acquisition aimed to enhance Acronis' DRaaS offerings and strengthen its position in the cyber protection market.
• In September 2020, Zerto, a leading provider of cloud data management and protection solutions, announced the acquisition of Continuous Data Protection (CDP) provider, Backupify. The acquisition aimed to strengthen Zerto's DRaaS offerings and expand its reach in the cloud data management market.
• In December 2020, Arcserve, a leading provider of data protection and availability solutions, announced the acquisition of StorageCraft, a leading provider of data backup and disaster recovery solutions. The acquisition aimed to enhance Arcserve's DRaaS capabilities and expand its reach in the data protection market.
Impact of COVID-19 on the global DRaaS Market:
The DRaaS Market has seen an increase in demand since the onset of the COVID-19 pandemic. With businesses forced to shift to remote work, there has been a greater need for cloud-based disaster recovery solutions. However, DRaaS Market also experienced some challenges due to supply chain disruptions and reduced IT spending by companies facing financial strain. Despite these challenges, the DRaaS market is expected to recover and grow in the post-pandemic period. The increasing trend towards cloud-based solutions, along with the need for secure and efficient disaster recovery, is expected to drive the growth of the DRaaS market. Additionally, as businesses become more aware of the importance of disaster recovery solutions, there is likely to be an increase in demand for DRaaS services.
PEST Analysis: Global DRaaS Market:
• Political factors: Government regulations and policies can impact the DRaaS market, such as data protection and privacy laws. Government funding and investment can support the development of DRaaS solutions and infrastructure. International political tensions and conflicts can create risks to data centers and impact the DRaaS market.
• Economic factors: Economic growth and stability can drive the adoption of DRaaS as companies invest in business continuity and disaster recovery solutions. The cost of DRaaS solutions can affect their adoption, especially for small and medium-sized businesses. The availability of financing options, such as leasing or subscription models, can impact the growth of the DRaaS market.
• Social factors: The increasing reliance on digital technology and data can drive the demand for DRaaS solutions. The growing concern about data privacy and security can impact the DRaaS market, as customers look for secure and compliant solutions. The remote workforce trend can increase the need for DRaaS solutions that support remote access and work-from-home scenarios.
• Technological factors: The evolution of cloud computing and storage technologies is driving the growth of the DRaaS market. The development of artificial intelligence and machine learning can improve the efficiency and effectiveness of DRaaS solutions. The emergence of new technologies, such as 5G and edge computing, can create new opportunities for DRaaS providers.
Company Profiles:
• IBM Corporation
• Microsoft Corporation
• Amazon Web Services, Inc.
• Acronis International GmbH
• Infrascale Inc.
• Carbonite Inc.
• Axcient Inc.
• Druva Inc.
• Sungard Availability Services (Sungard AS)
• Iland Internet Solutions Corporation
• Bluelock LLC
• Recovery Point Systems Inc.
• Tierpoint LLC
• NTT Communications Corporation
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