Disaster recovery solution is a crucial part of any recovery process when a disaster strikes. Nowadays, many organizations have realized the need for an IT disaster recovery (DR) plan, which is positively influencing the market growth. A good disaster recovery plan allows the business to run continuously even in case of disasters and negative events. A steady rise in cybersecurity attacks and an ever-changing IT landscape have shaped the disaster recovery market in recent years. With technological advancements, the disaster recovery solution market has evolved rapidly.
Based on type, disaster recovery solution market is segmented into backup and recovery, real-time replication, data protection, and professional services. Backup and recovery segment is expected to hold the largest market share over the forecast period, mainly attributed to the low-cost advantages they offer and their increasing demand in businesses with low IT budgets.
Based on deployment, the market is segmented into private cloud, public cloud, and hybrid cloud. Hybrid cloud is expected to dominate the disaster recovery solution market, as it enables the user to utilize on-premise software and hardware appliances, along with the recovery services in the cloud.
Based on organization size, the market is segmented into SMEs and large enterprises. Many large enterprises are making heavy IT investments, which will allow the segment to grow at the highest CAGR.
By end user, disaster recovery solution market is segmented into BFSI, consumer goods and retails, government and public sector, healthcare and life sciences, manufacturing, media and entertainment, telecommunication, and others. BFSI is likely to hold the largest market share, due to increasing regulations by governments to ensure appropriate implementation of disaster recovery solutions in business continuity strategies.
Geographically, the disaster recovery solution market is segmented into North America, Europe, Asia Pacific, and LAMEA.
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North America is expected to hold a significant market share during the forecast period, owing to the presence of key players in the region. Europe is one of the prominent regions due to the early adoption of technology. Asia Pacific is expected to witness the highest growth, attributed to increasing IT investments in developing countries such as China and India. LAMEA is anticipated to flourish at a considerable growth rate over the forecast period.
Some of the key market players of the disaster recovery solution market are Microsoft Corporation, Recovery Point Systems, BluelockLLC, TierPointLLC, IBM Corporation, SungardAS, C&W Business, Expedient Holdings USA LLC, and CloudHPT.
The disaster recovery solution market has numerous players, including established players and regional/local players employed to a limited number of clients. The presence of numerous players makes the market competitive and fragmented.
IBM launched the IBM cloud private software in October 2017 to empower companies to create on-premise cloud capabilities and accelerate the app development domain.
Disaster Recovery Solution Market: Segmentation
By Deployment Type
By Organization Size
By End User
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* Customer Behaviour Analysis
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