New York, USA, Jan. 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global disaster recovery as a service market is estimated to garner a revenue of $17,876.6 million by 2026 and grow at a stable CAGR of 40.6% over the forecast period from 2019-2026. The extensive report provides a brief outline of the disaster recovery as a service market’s current framework including prime facets of the market such as growth elements, challenges, restraints and various opportunities during the predicted timeframe of 2019-2026. The report also provides all the market figures to help new participants analyze the market easily.
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Dynamics of the Disaster Recovery as a Service Market:
Drivers: The affordable pricing model of the disaster recovery as a service market is getting immense popularity among all enterprises. The huge reduction in additional costs like purchasing a server, network or storage equipment, etc. is attracting many users worldwide. These factors are driving the growth of the market by 2026. In addition, the increasing demand of securely backing up the data among organizations is expected to further boost the market’s development during the forecast period.
Opportunities: The increased adoption of advanced technologies and software among corporates to ensure safety of data is predicted to offer ample opportunities for the growth of the disaster recovery as a service market during the analysis timeframe.
Restraints: Possible risk of data breach or loss and security by third-party companies are the main factors to restraint the growth of the market during the forecast period.
Check out How COVID-19 impacts the Global Disaster Recovery as a Service Market: https://www.researchdive.com/connect-to-analyst/147
Segments of the Disaster Recovery as a Service Market:
The report has divided the autotransfusion device market into a few segments based on component, provider, organization size, and regional analysis.
Component: Service Sub-segment to Have the Highest Growth Rate
By component, the managed service sub-segment is estimated to grow at a stable CAGR of 51.4% during the forecast period and have the highest growth rate in the disaster recovery as a service market. The managed service eases the organization’s burden in data security and data protection and ensures the continuity of core business operations during disastrous situations. This attracts corporates to opt for managed service sector to overcome challenges related to technical expertise, additional costs, and infrastructure. These factors are anticipated to boost the growth of the market’s sub-segment by 2026.
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Provider: Cloud Service Provider Sub-segment to be Most Lucrative
By provider, the cloud service provider sub-segment is estimated to grow at a CAGR of 32.8% during the forecast period. The growing customer base in the IT industry effectively help companies with their data storage concerns on a cloud platform. The advantage of opting for cloud services like saving expenses on new infrastructure and software for data storage purpose is attracting many organizations across the world. This factor is anticipated to boost the growth of the disaster recovery as a service market’s sub-segment by 2026.
Organization Size: Small and Medium Businesses (SMBs) to be Most Profitable
By organization size, small and medium businesses (SMBs) sub-segment is predicted to grow at a CAGR of 48.2% during the analysis timeframe. Factors like pay-as-you-go payment model, ease of use, less operational expenses involved, and flexibility offerings of SMBs are estimated to attract a large customer base by 2026, thus enhancing the growth of the sub-segment.
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Region: Asia-Pacific Region to Witness Better Growth Opportunities
By regional analysis, the Asia-Pacific region is predicted to grow at a CAGR of 46.2% during the forecast period. The region is estimated to witness immense growth opportunities due to rising economy and significant investments done by some key market players. Moreover, government’s initiative to secure crucial data of respective organizations is expected to offer abundant opportunities for the growth of disaster recovery as a service market in the Asia-Pacific region by 2026.
Major Disaster Recovery as a Service Market Players:
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.
These major players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to assist the enhancement of the disaster recovery as a service market.
For example, in December 2021, Oceanscan, an established international equipment company, collaborated with iland, a leading VMware-based provider for application hosting, disaster recovery, and data protection services, to run its business effectively amid growing ransomware attacks.
The report also sums up many vital aspects including financial performance of the prime players of the disaster recovery as a service market, SWOT analysis, product portfolio, and the latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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