Disaster Recovery as a Service (Draas) Market to Register Exponential Cagr of 36.0% to 2022 as Msmes Drive Revenues

A market research study published by the market research company Transparency Market Research projects remarkable growth prospects for the global disaster recovery as a service (DRaaS) market over the period 2014-22. The report states that the market, which had a valuation of US$621.30 mn in 2013, will expand at an extraordinary 36.0% CAGR over the report’s forecast period.The report is titled “Disaster Recovery as a Service (DRaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2012 - 2022”.

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The report credits factors such as the cost effectiveness, greater flexibility, fast recovery, and capability of automated and simpler testing of modern disaster recovery services, as the key driving forces behind the global DRaaS market’s excellent growth prospects. Additionally, the rising enterprise IT spending across the globe is also expected to benefit the market substantially over the coming years.The report broadly segments the global DRaaS market on the basis of five criteria: deployment model, product type, company size, key application area, and geography.

Amongst the various deployment models in the global DRaaS market studied in the report, the To Cloud segment accounted for a 51.3% of the overall revenue generated by the market in 2013. TO Cloud deployment model is widely preferred by small and mid-sized enterprises (SMEs) as this model avoids the complexity and expense that generally comes with traditional disaster recovery systems. Over the report’s forecast period too, this market segment is expected to remain dominant.Based on type of product, the segment of software components held about 60.8% of the overall revenues earned by the market in 2013. Entry of new software service vendors from across the globe in the DRaaS segment is expected to intensify the prevailing...