Increasing level of competition among businesses has created a need to ensure protection, mending, and backing up & recovery to prevent loss or theft of vital data, and is a primary factor anticipated to drive the Disaster Recovery as a Service (DRaaS) Market demand. Faster recovery, greater flexibility and cost effectiveness are also potential market drivers. DRaaS enables faster recovery of data by minimizing downtime. Modern day technology does not employ any hardware component to execute the process due to the integration with cloud services, thereby providing cost effective method. High flexibility is ensured as DRaaS involves no hardware, staff or training for execution. The solution solely works on cloud platform, which automates the operations efficiently.
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The key driving factors responsible for the growth of Disaster Recovery as a Service market :
Potential services offered by DRaaS include DR planning, testing, backup solutions, data compliance, real-time replication, data security, system integration and consultation, maintenance and support. DRS can greatly provide financial benefits through reduction in installation cost, buying, upgrading and maintenance of services and tools. The industry is witnessing a paradigm shift with the adoption of cloud-based services that are flexible and scalable, providing easy entry and per person access cost. Large-scale utilization of hybrid cloud DRaaS and increasing usage among mobile service providers are expected to provide avenues for industry growth.
The DRaaS market is essentially bifurcated on two main parameters that are Recovery Point Objective (RPO) and Recovery Time Objective (RTO). RTO calculates the amount of downtime a business can afford without any prominent loss and RPO enables the system to figure out which recovery process would maneuver the process after predicting the amount of downtime. Large-scale usage of cloud recovery solutions and services substantially reduce the operational cost. Cloud based DRaaS enables the enterprise and customer to store and execute the system processes on the cloud platform. Employing cloud services largely reduces cost, frees up the in-system resources and speeds up the recovery process of the system. High scale usage of cloud service shortens the recovery process which in turn provides savings. Disaster management on cloud platform must incorporate networking, testing and failovers to guarantee business continuity in the scenario of any man made or natural disaster.
The industry is majorly segmented in categories such as solutions, which include real-time replication, cloud service provider, disaster recovery service provider, data security & compliance and planning & testing. DRAS is used across in healthcare, government, telecommunication, BFSI, retail & wholesale, information technology, media & entertainment, transportation & logistics and manufacturing sectors. On the basis of service, the market is segmented in to consulting & system integration, managed service and support and maintenance.
Large deployment models are used by system integrators and solutions vendors to execute the DRaaS disaster recovery solutions. High-end organizations incorporate this service in order capture better recovery mechanism and save upfront investments. Significant factors which are expected to upsurge the market demand include high preference for incorporating IT services to automate the businesses, increased penetration of cloud computing. Integration of big data applications, adoption of virtualization technologies coupled with growing awareness of the potential offered by these the services are the anticipated to elevate product demand over the forecast period. Major challenge faced by the industry includes platform dependent cloud services and non-existence of disaster recovery program among small and medium-scale businesses.
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