Disaster Recovery as a Service Market : Opportunity Analysis and Industry Forecast upto 2024
The market for traditional disaster recovery systems (DR) has witnessed vast changes over the past decade. The advent and rising adoption of cloud-based disaster recovery services (also formally referred to disaster recovery as-a-service or DRaaS) has transformed the market and has significantly resulted in the replacement of traditional DR systems with the former. The drastic change in the growth dynamics of the traditional DR market has compelled many leading players in this field to make the move to cloud-based DR systems and services. This has introduced a large number of companies in the market, significantly intensifying competition as well as providing consumers a vast number of options to choose from. The market is expected to exhibit a remarkable 35.7% CAGR over the period between 2016 and 2024, states Transparency Market Research. If the prediction holds true, the market, which had a valuation of US$1.29 bn in 2015, is expected to rise to US$21.55 bn by 2024, in terms of revenue. Obtain Report Details @ http://www.transparencymarketresearch.com/disaster-recovery-a-service-market.html On the basis of key applications of DRaaS, the global DRaaS market has been segmented into banking, financial services and insurance (BFSI), government, IT and telecom, media and entertainment, manufacturing and logistics, and education. Of these, the government sector contributed the dominant share of 18.3% of the overall market in 2015. The vast demand for DRaaS solutions and services in the sector is attributed to the increased level of digitization across a number of processes and operations and the resultant rise in need for backing up critical public and private data. Globally, North America dominated the global DRaaS market in terms of revenue, accounting for more than 34.0% in 2015 and is expected to continue dominance over the forecast period as well. Make an Enquiry @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3622
The key force impelling the DRaaS market in North America is the presence of a large number of SMEs seeking affordable DRaaS solution and services. In the U.S., government departments and the public sector are also deploying DRaaS services to gain cost benefits. The presence of a large number of vendors and the resultant rise in the number of cost competitive options, for enterprises to choose from, has also helped bolster the growth prospects of the North America market. Some of the key players operating in the global DRaaS market are IBM Corp., VMWare, Inc., Cisco Systems, Inc., Symantec Corporation, Amazon Web Services, and Commvault. About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement. Contact Transparency Market Research 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA – Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com