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Global Disaster Recovery as a Service (DRaaS) Market to Expand at 36.0% CAGR 2014-2022 Fueled by Growing Demand from BFSI Sector : Transparency Market Research

Albany, NY, March 17, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research, in a report titled “Disaster Recovery as a Service (DRaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” states that the global disaster recovery as a service (DRaaS) market is anticipated to expand at an astounding 36.0% CAGR from 2014 to 2022, rising from a value of US$621.3 mn in 2013.On the basis of deployment, the DRaaS market is divided into in cloud DRaaS, to cloud DRaaS, and from cloud DRaaS. Accounting for a 51.30% share in 2013, the to cloud segment dominates the overall market in terms of revenue.

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By product, the DRaaS market is bifurcated into hardware and software. Making up 60.80% of the overall revenue earned in 2013, the software segment dominated the market thanks to the entry of new vendors from across the globe.By company size, the DRaaS market is categorized into mid-sized, small, and large companies. Mid-sized companies held the largest share in the overall DRaaS market in 2013 owing to the growing popularity of cloud-based services.

On the basis of application, the DRaaS market is categorized into the government and public sector, e-commerce and retail, banking, financial services, and insurance (BFSI), telecommunications, manufacturing, and others. Accounting for a share of almost 33% in 2013, BFSI has emerged as the leading segment in terms of revenue. The use of DRaaS in the BFSI sector is driven by the need for constant and mandatory back-up of critical economic and financial data to avoid losses. The e-commerce segment is projected to witness remarkable growth in the coming years due to the surge in new online-based services and the rise in the number of startup companies.

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The global DRaaS market is geographically segmented into Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa. Accounting for 36.80% of the overall market revenue in 2013, North America has been one of the most prominent contributors to the global DRaaS market owing to the presence of leading DRaaS providers and the growing demand from small and medium enterprises. The DRaaS market in Asia Pacific is anticipated to witness strong growth in the coming years owing to the flourishing manufacturing sector in countries such as India, Japan, Singapore, China, Australia, and South Korea and the presence of several large as well as small and medium enterprises in the IT sector. Latin America and the Middle East and Africa regions possess strong potential for future growth, according to the TMR report.

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The leading players profiled in the DRaaS market report include Windstream Communications, SunGard Data Systems, Verizon Communication, Inc., Geminare, Inc., IBM Corp., Databarracks Ltd., Amazon.com, Inc., QuorumLabs, Inc., Columbus Business Solutions, NTT Communications, EMC Corp., HP Co., Rackscale s.r.o., NetApp, Inc., VMWare, Inc., and Cisco Systems, Inc.

DRaaS Market, by Deployment Model

  • To Cloud DRaaS
  • In Cloud DRaaS
  • From Cloud DRaaS

DRaaS Market, by Product

  • Software
  • Hardware

DRaaS Market, by Company Size

  • Small Companies
  • Mid-sized Companies
  • Large Companies

DRaaS Market, by Application Sector

  • Banking and Financial Institutions (BFSI)
  • Government and Public Sector
  • Telecommunication Sector
  • E-Commerce/Retail
  • Manufacturing Sector
  • Others

DRaaS Market, by Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Source:Transparency Market Research