The Disaster Recovery Solutions Market report includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global market was estimated at USD 23.45 Billion in 2022, registering a CAGR of 31.90% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period 2023 to 2032.
The disaster recovery solutions market refers to the industry that provides businesses with the tools, software, and services necessary to recover from disasters and ensure business continuity. Disaster recovery solutions are designed to help businesses prepare for and recover from disasters such as cyberattacks, natural disasters, and other unexpected events that can disrupt normal business operations. The market for disaster recovery solutions has grown significantly in recent years, driven by the increasing frequency and severity of natural disasters and the growing threat of cyberattacks. The market includes a wide range of products and services, including backup and recovery software, data replication tools, cloud-based disaster recovery services, and consulting and managed services.
The demand for disaster recovery solutions is driven by a variety of factors, including regulatory compliance requirements, increasing reliance on digital systems, and the need to minimize downtime and data loss in the event of a disaster. In addition, the rise of cloud computing and the increasing adoption of hybrid cloud solutions has led to the development of new disaster recovery solutions that leverage the cloud for backup and recovery.
The disaster recovery solutions market can be segmented by type, deployment, enterprise size, and end-use and region.
Based on type backup and recovery solution: This segment includes solutions that enable businesses to back up and recover their data in the event of a disaster. It includes backup software, data recovery software, and other related solutions. Based on Data Security segment includes solutions that help protect data from cyberattacks, malware, and other security threats. It includes firewalls, antivirus software, encryption software, and other related solutions. The sub segment Replication Solution includes solutions that enable businesses to replicate their data across multiple locations or systems to ensure business continuity in the event of a disaster. The Professional Service includes consulting, implementation, and managed services related to disaster recovery solutions.
In the Disaster Recovery Solutions Market, the Backup and Recovery Solution segment holds the largest market share. This is because backup and recovery solutions are considered essential components of any disaster recovery plan. With the increasing amount of data generated by organizations, the need for backup and recovery solutions has become more critical than ever before. Businesses need to ensure that their data and applications are protected from unexpected events such as natural disasters, cyber-attacks, or system failures. Backup and recovery solutions provide businesses with a way to recover data quickly and efficiently, minimizing downtime and reducing the risk of data loss. As a result, this segment is expected to continue to hold the largest market share in the disaster recovery solutions market.
Based on deployment, the market is sub segmented as public cloud and private cloud. The sub segment of public cloud includes solutions that rely on public cloud infrastructure to provide disaster recovery capabilities. The private cloud segment includes solutions that leverage private cloud infrastructure to provide disaster recovery capabilities.
Based on enterprise size the Large Enterprise segment includes businesses with more than 1,000 employees and Small and Medium Enterprise (SME) includes businesses with fewer than 1,000 employees.
Based on end-use the market is classified as BFSI (Banking, Financial Services and Insurance) segment which incorporate businesses in the banking, financial services, and insurance sectors. The Government and Public Sector includes government agencies and other public sector organizations. The healthcare sub segment comprises of hospitals, clinics, and other healthcare organizations. The market segment IT and Telecommunication includes businesses in the information technology and telecommunications sectors. The Manufacturing segment covers businesses in the manufacturing industry. The Retail segment comprise businesses in the retail industry and the others end use industries.
Based on the Region the market is comprehended in the North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The United States and Canada are the major markets for disaster recovery solutions in North America. The region is driven by the increasing frequency and severity of natural disasters, as well as the growing threat of cyberattacks. The major markets for disaster recovery solutions in Europe include the United Kingdom, Germany, France, Italy, and Spain. The region is driven by strict regulatory compliance requirements, increasing reliance on digital systems, and the need to minimize downtime and data loss in the event of a disaster. The major markets for disaster recovery solutions in the Asia-Pacific region include China, Japan, India, Australia, and South Korea. The region is driven by the increasing adoption of cloud computing, the rise of smart cities, and the growing importance of data protection and cybersecurity. The major markets for disaster recovery solutions in the Middle East and Africa include Saudi Arabia, United Arab Emirates, and South Africa. The region is driven by the need for business continuity and disaster recovery solutions in industries such as oil and gas, healthcare, and banking. The South America region consists of Brazil, Argentina, and Colombia. The increasing adoption of cloud computing, the growing importance of data protection and cybersecurity, and the need for business continuity solutions in industries such as manufacturing and retail is driving the market.
The demand for disaster recovery solutions varies by region and is driven by a variety of factors, including regulatory compliance requirements, the frequency and severity of natural disasters, and the growing threat of cyberattacks. Vendors in the market need to tailor their solutions and services to meet the specific needs of customers in each region, such as language support, cultural considerations, and regulatory compliance requirements.
Recent Development
- In May 2022: Broadcom, a renowned developer of semiconductor and infrastructure software solutions, agreed to buy VMware. Customers, including leaders in many business verticals, would benefit from increased choice and flexibility in building, running, managing, connecting, and protecting applications at scale across diverse, distributed settings.
- In January 2022: 11:11 Systems, a provider of managed infrastructure solutions, bought iland. 11:11 would use iland's Secure Cloud Console natively to provide visibility and ease of control across all of its cloud services, combining deep-layered security, predictive analytics, and compliance.
- In June 2020: Microsoft will collaborate with Wipro and Citrix. The collaboration was meant to allow consumers to maintain their enterprises while working from home. The firms wanted to provide a bundled solution that allows for the quick and easy deployment of safe and dependable digital workspaces.
- In January 2020: Recovery Point introduced z/Archive, a new low-cost object storage solution based on IBM's Transparent Cloud Tiering. It enables clients to create point-in-time snapshots of data on their systems, which are then copied and stored in the RPS cloud.
- In December 2019: IBM teamed with Hitit to increase its footprint in the travel and hospitality industry verticals with its on-premises data centre for resiliency and disaster recovery solutions.
Market Segments
- By Type
- Backup & Recovery Solution
- Data Security
- Replication Solution
- Professional Service
- By Deployment
- Public Cloud
- Private Cloud
- By Enterprise Size
- Enterprise Size
- Large Enterprise
- Small & Medium Enterprise
- By End-use
- BFSI
- Government & Public Sector
- Healthcare
- IT & Telecommunication
- Manufacturing
- Retail
- Others
Regional Coverage:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Russia
- UK
- France
- Italy
- Spain
- The Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
Key Players:
Some of the key players in the disaster recovery solutions market include IBM Corporation (US), Microsoft Corporation (US), Amazon Web Services, Inc.(US), VMware (US), Sungard AS (US), iland (US), Recovery Point (US), InterVision (US), TierPoint (US), and Infrascale (US),. The market is highly competitive, with vendors offering a wide range of solutions to meet the diverse needs of businesses of all sizes and industries.
Competitive Landscape:
Company overview, latest trends, financials, R&D expenditures, and SWOT analysis are some of the key features of the competitive analysis provided in this study.
Years Covered in the Study:
Historic Year: 2019-2020
Base Year: 2021
Estimated Year: 2022
Forecast Year: 2032
Objectives of this report:
- To estimate market size on regional and global basis.
- To identify major segments in the market and evaluate their market shares and demand.
- To provide a competitive scenario for the market with major developments observed by key companies in the historic years.
- To evaluate key factors governing the dynamics of the market with their potential gravity during the forecast period.
Reasons to Buy This Report:
- Technical Market definition of the global market along with the analysis of different influencing factors like drivers, restraints, and opportunities.
- Extensive research on the competitive landscape of more than 25+ global as well as regional companies.
- Identification and analysis of micro and macro factors that are and will affect the growth of the market.
- A descriptive analysis of demand-supply gap, estimation and forecast in the global market.
- Statistical analysis of some significant economic factors.
- Partner Identification in the supply chain.
- 200+ Figures, charts and graphs describe the market clearly.
- Historical and estimated pricing analysis of the market considered as part of scope.
Key Questions Answered in this Report:
- What is the market size and growth rate of the global and regional market by various segments?
- Market size and growth rate of the market for selective countries?
- Which region or sub segment is expected to drive the market in the forecast period?
- What are the driving factors as well as restraints in the market growth?
- How the technological shift and disruptions are helping market to grow?
- What are the key opportunities in the market?
- Which company accounted or will account for the highest market share in 2021, 2022, and 2023?
- Who are the key companies operating in this market?
Customization:
This study is customized to meet your specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
- Product Specific Competitive Analysis
- Company profiling
- Client’s comparison vs others
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