Disaster Recovery Solution Market Size, Share & Trends Analysis Report By Type (Backup & Recovery, Data Security, Replication, Professional Service), By Deployment Type (Private Cloud, Public Cloud, Hybrid Cloud), By Organization Size (SMEs, Large Enterprises), By End User (BFSI, Consumer Goods and Retail, Government and Public Sector, Healthcare and Life Sciences, Manufacturing, Media and Entertainment, Telecommunication and IT, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global disaster recovery solution market size was valued at USD 8.01 billion in 2021 and is projected to reach USD 115.36 billion by 2030 at a CAGR of 34.5% from 2022 to 2030.

The ever-expanding IT landscape and a steady rise in cybersecurity attacks have shaped the disaster recovery solution market in recent years. Modern businesses cannot afford the loss of data due to human error, cyber-attack, or natural disaster; data loss is expensive and can prove risky. As per a study by the World Backup Day, disaster causes can be classified as hardware failure (44%), human error (32%), software corruption (14%), computer viruses (7%), and natural disasters (3%). Disaster recovery is the process of backing up data at regular intervals by creating a duplicate copy in a secondary device.

Market Dynamics

The adoption of cloud-based disaster recovery solutions to curb the challenges posed during infrastructural failures is a key driving factor for market growth.   

Many organizations have migrated their applications and platforms to private, public, or hybrid clouds to gain real efficiencies and adequate savings. One of the most significant advantages of cloud-based recovery solution is its cost-effectiveness, as traditional backup follows an expensive process of setting up physical servers at remote locations. Many businesses are transferring their business workloads on a cloud server. For instance, according to Cisco, by 2021, 94% of workload will run on a cloud-based environment. Thus, application of cloud-based disaster recovery is anticipated to drive the disaster recovery market during the forecast period.

Increasing cyber-attacks are becoming a day-to-day struggle for businesses. For instance, in 2017, 147.9 million consumers were affected by the Equifax Breach, as their credit card credentials were stolen. Besides, average expenditures on cybercrime are increasing dramatically, and costs associated with these attacks can be crippling to the companies who have not considered cybersecurity as an integral part of their regular budget. For instance, the aftermath of the Equifax breach cost the company over USD 4 billion. Additionally, according to IDC’s latest report, the average hourly cost for infrastructure failure accounts for USD 100,000.

Regional Analysis

Geographically, the disaster recovery solution market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).

North America is expected to hold a greater share in the disaster recovery solution market, owing to the need to reduce the financial toll resulting from network outages and system downtime. Furthermore, changing government regulations, particularly in the U.S., are propelling the growth of the disaster recovery solution market. In the U.S., federal mandates regarding disaster recovery planning affect numerous industrial segments differently. For instance, financial institutions, particularly those participating in the various components of the federal banking system, must comply with a well-rooted regimen of regulations on DR.

Europe is one of the prominent regions for the disaster recovery solution market and is expected to grow at a positive growth rate during the forecast period 2022–2030.  Also, the General Data Protection Regulation (GDPR) is an overhaul of the European’s data protection rules, which became effective on May 25, 2018. Companies affiliated to the GDPR are accountable for handling personal information appropriately, including implementation of necessary technical and organizational measures and ensuring “the confidentiality, integrity, availability, and resilience of systems and services processing personal data” (Article 32).

In 2016, Zerto announced its partnership with a European managed services provider, Claranet, to offer a cloud-based business continuity and disaster recovery (DR) service. This partnership is providing an opportunity for Zetro to build a partner base of over 100 service providers across Europe.

In Asia Pacific, China dominates the disaster recovery solution market, owing to disaster recovery providers and other big data companies. Besides, extensive use of cloud technology in business operations across various industry verticals is boosting the market.

Segmental Analysis

The disaster recovery solution market can be segmented by type, deployment, organization size, and end-user.

Based on type, the disaster recovery solution market is segmented into backup and recovery, real-time replication, data protection, and professional services. While by deployment type, the market is segmented into private cloud, public cloud, and hybrid cloud.

Further, based on organization size, the market is segmented into SMEs and large enterprises. By end user, the 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.

Impact of covid-19

The COVID-19 pandemic has caused a global healthcare crisis, resulting in a change in healthcare delivery in most areas. Most unrelated surgeries were postponed in the first half of 2020 to slow the spread of the virus and reduce the strain on healthcare infrastructure. According to Indiana University researchers, healthcare visits declined by approximately 40% in the first six weeks of the pandemic in the U.S, from early March to mid-April.

Following the relaxation of constraints, there has been a general decrease in people postponing seeking care and treatment in healthcare facilities. Furthermore, the slowdown in clinical trial enrollment has pushed back the launch of novel treatments. These considerations may have had a detrimental influence on the autoinjector industry, particularly with its usage in healthcare facilities beginning in early 2020.

However, the overall effect on the autoinjectors market is considered positive, especially during the forecast period, due to several factors. In the biologics space, there has been a shift toward higher delivery volumes and less frequent dosing, which can be achieved through suitably customized autoinjectors.

The COVID-19 pandemic has accelerated the trend of self-injection, allowing patients to be more involved and in charge of their treatment. The trend boosted newer technology in the autoinjector market for improved regulation of injection speed, injection site discomfort, and treatment of anxiety.

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