Disaster Recovery As A Service (DRaaS) Market: By Service Type (Recovery & Backup Services, Data Protection Services, Real-time Replication Services, Professional Services, Managed Services), By Service Provider (Cloud Service Providers, Telecommunication Service Providers, Managed Service), By Deployment (Public Cloud, Private Cloud, Hybrid Cloud), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Verticals (BFSI, Telecommunications, IT and Ites Government and Public Sector, Retail and Consumer Goods, Manufacturing, Energy and Utilities, Media and Entertainment, Healthcare and Life Sciences, Others), and Geography

Disaster Recovery as a Service Market size was valued at USD 9,287.1 million in 2023 and is poised to grow at a CAGR of 19.1% from 2024 to 2030.  Disaster recovery as a service market provides organizations a lifeline to ensure business continuity and data resilience in times of difficulty. DRaaS serves as an important tool during natural catastrophes like hurricanes, floods, wildfires, earthquakes, power outages, and other or artificial crises such as hardware failure, cyberattacks, blackouts, data breaches, and others. DRaaS permits organizations to copy their critical data and IT infrastructure offsite in secure data centers or the cloud which helps in the growth of the market. It ensures that even if the primary infrastructure is affected the data will remain intact and accessible.

During heavy disasters organizations can quickly trigger their DRaas solutions to continue operations from the replicated environment. This will reduce downtime and avoid catastrophic data loss allowing businesses to maintain the necessary functions and services that drive DRaaS market. The leading players in the industry are investing a lot of effort in the research and development of smart and unique strategies such as product launches, mergers & acquisitions, collaborations, partnerships, and technological advancements to withstand their growth in disaster recovery as a service market in the forecast period. For instance, on October 15, 2020, IBM has created a disaster recovery site using IBM Cloud infrastructure to support KAZ Minerals, a major copper producer in Kazakhstan, in protecting and retaining operations even in the circumstance of a disaster.

Disaster Recovery As A Service Market Key Developments:

• In August 2023, Azure Site Recovery service was updated and improved by the Microsoft to help users stay up to date. It provides information to the users about the latest releases, new features and new content.
• In July 2023, VMware updated its product’s security features to prevent and alleviate ransomware attacks. The security features include enhanced access controls, network segmentation, encryption, and integration with the third party security tools.
• In February 2023, LEMOINE acquired Macro Companies, one of the biggest emergency fuel and water suppliers in the world. The business functions and sustains the largest fleet of company-owned, specialized gasoline delivery and transportation vehicles in the sector.