Disaster Recovery as a Service (DRaaS) Market Analysis

Disaster Recovery as a Service (DRaaS) Market Analysis

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Based on organization size, the large enterprises segment held over 74% of the market share in 2022. Collaborations are fostering substantial growth in the large enterprises segment. By partnering with specialized DRaaS providers, enterprises are gaining access to advanced technologies & expertise, enabling them to significantly enhance their disaster recovery strategies.
 

For instance, in September 2022, Perpetuuiti in collaboration with SoftwareONE, a prominent software & cloud technology solutions provider, launched the Perpetuuiti Hybrid Disaster Recovery Service. This joint initiative targets Microsoft Azure customers in India, thereby aiming to reduce recovery time, minimize data loss, and mitigate the downtime cost for enterprises. These collaborations result in tailored solutions that minimize downtime, reduce data loss, and ensure seamless business continuity. The shared expertise & resources between enterprises and DRaaS providers contribute to the market's lucrative expansion.
 

Based on industry vertical, the BFSI segment accounted for 25% of the disaster recovery as a service market share in 2022. Financial institutions are increasingly collaborating with DRaaS providers to fortify their organization sizes, thereby driving the BFSI segment growth in the market. These partnerships empower banks and other financial entities to ensure the security & continuity of their critical organization sizes.
 

For instance, in September 2023, IBM partnered with Indian Bank, a leading public sector bank, to expedite the bank's modernization journey. The collaboration aims to provide a flexible and secure computing infrastructure, thus facilitating the deployment of new front-end banking organization sizes. Indian Bank aims to enhance its manageability and availability in both Data Centers (DC) and Disaster Recovery (DR) centers by consolidating its front branch servers.
 

North America disaster recovery as a service market recorded more than 34% of revenue share in 2022, propelled by the robust technology infrastructure in the U.S. The country's advanced IT framework facilitates the widespread adoption of DRaaS solutions. With a focus on seamless business continuity and data security, businesses in the U.S. are increasingly investing in DRaaS. This surge in demand reflects the region's commitment to resilient disaster recovery strategies, making North America a key region in the market.