DRaaS Market Projected to reach $14.6 billion by 2025

The global DRaaS market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period, to reach USD 14.6 billion by 2025 from USD 5.1 billion in 2020. Increased adoption of cloud, reduced time and costs, and enhanced focus on business continuity are expected to spur the demand for DRaaS offerings across the globe.

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The DRaaS market includes major vendors, such as Microsoft (US), IBM (US), VMware (US), iland (US), Recovery Point (US), Sungard Availability Services (US), InterVision (US), AWS (US), TierPoint (US), Infrascale (US), Acronis (Switzerland), Axcient (US), BIOS Middle East (UAE), C&W Communications (UK) Carbonite (US), Daisy (UK), Databarracks (UK), Datto (US), Evolve IP (US), Expedient (US), Flexential (US), Geminare (Canada), NTT (Japan), Quorum (US), SorageCraft (US), Unitrends (US), RackWare (US), Druva (US), Aptum (US), DARZ (Germany), Zettagrid (Australia), PhoenixNAP (US). The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Microsoft, IBM, VMware, iland, and Recovery Point have majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the DRaaS market.

Microsoft is one of the leading players in the DRaaS market. The company has achieved growth in the global DRaaS market with the help of organic and inorganic growth strategies. As part of its organic growth strategies, the organization focuses on product innovations to gain an advantage over its competitors. The company constantly upgrades its key offering Azure Site Recovery to provide better disaster recovery and business continuity to its customers. It is strategically entering untapped markets, such as India, with its business continuity solutions. It easily expands its reach worldwide through its robust ecosystem of partners. It provides a wide range of benefits to its partners who help grow its market share. As a part of its inorganic growth strategies, Microsoft is focused on partnering with other DRaaS providers with an intention to offer combined solutions to customers for efficient disaster recovery and reduced downtime. It is also keen on offering joint solutions with its partners to improve business scenarios in COVID-19.

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IBM is an eminent player in the DRaaS market, as it provides strong cloud-based offerings. The company is currently focusing on catering to its customers with highly competent technology-enabled products and services in cloud, analytics, mobile, social, and security to sustain competition. With the growing demand for cloud-based solutions and services for disaster recovery, the adoption of cloud-based resiliency is gaining traction and benefitting strong players such as IBM. The organization aims at delivering innovative solutions and improved business continuity while planned and unplanned IT outages, thereby satisfying its customers. The key factors responsible for major shares in the market are wide geographic reach, strong distribution channels, and enhanced DRaaS offerings. The company focuses on strengthening its organic growth strategies, such as constant product enhancements and new product launches. These growth strategies have helped IBM hold its position in the DRaaS market, while they have also helped the company contentiously offer improved DRaaS solutions.

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