New York, USA, Dec. 07, 2020 (GLOBE NEWSWIRE) -- According to a Research Dive published report, the global disaster recovery as a service market valued for $3,332.2 million in 2018 and is estimated to surpass $57,133.1 million by 2026, exhibiting a CAGR of 42.9% from 2019 to 2026.
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Organizations across the globe are increasingly adopting disaster recovery as a service (DRaaS) as it helps them to work remotely and enables them to recover data within few minutes. This is a significant factor expected to drive the global DRaaS market growth over the forecast period. However, the risk of data breaching and security related issues are anticipated to hamper the market growth in the coming future.
Highlights of the Report
• The CAGR of the global disaster recovery as a service market, as estimated before the outbreak of the COVID-19 pandemic, was 40.6% over the forecast period.
• The CAGR of the global industry, as estimated post the onset of the coronavirus crisis, is expected to be 42.9% during the forecast period.
• The market size of the global disaster recovery as a service market in 2020, as estimated before the COVID-19 pandemic began, was $6,587.1 million.
• The real-time market size of global industry, bearing the after-effects of the COVID-19 pandemic in 2020, is $6,777.3 million.
Check out How COVID-19 impacts the Global Disaster Recovery as a Service Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/186
Current Market Transformation Due to COVID-19
The COVID-19 pandemic has progressively impacted the global disaster recovery as a service market in 2020. This is mainly due to the growing demand for the use of DRaaS by numerous organizations across the globe, owing to greater flexibility and cost effectiveness provided by DRaaS to the organizations. Besides, the rising work from home (wfh) culture to prevent the spread of coronavirus is another factor to bolster the global market growth in 2020.
Global Industry to Continue to Witness Robust Growth Post-Pandemic
The global disaster recovery as a service market is anticipated to witness an exponential growth post-coronavirus pandemic. The growing adoption rate of cloud-based services by every vertical of the organization and the faster way of recovering data with DRaaS is predicted to boost the global market growth. Besides, implementation of automation through AI is estimated to create massive opportunity for the market growth after COVID-19 pandemic.
Access Varied Market Reports Bearing Extensive Analysis of the Market Situation, Updated With The Impact of COVID-19: https://www.researchdive.com/covid-19-insights
Top Companies Profiled in DRaaS Market
The key players of the global disaster recovery as a service market consists of
1. VMware Inc.
2. Amazon Web Services, Inc.
3. HP Development Company, L.P.
4. RACKSPACE US, INC
5. Microsoft
6. Cable & Wireless Communications Limited.
7. NTT Communications Corporation
8. IBM Corporation
9. TierPoint, LLC.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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