Disaster Recovery as a Service - Greece

Revenue in the Disaster Recovery as a Service is projected to reach US$35.62m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 17.16%, resulting in a market volume of US$78.61m by 2029.
In global comparison, most revenue will be generated United States (US$4.10bn in 2024).

Definition:

Disaster Recovery as a Service (DRaaS) refers to the provisioning of third-party cloud computing and backup services that enable the replication and hosting of physical or virtual servers to ensure data availability and organizational operation continuity in the event of a disaster. DRaaS minimizes downtime and data loss by providing organizations with the ability to perform a full recovery of their IT infrastructure in a secondary, cloud-based environment.

Additional Information:

The Disaster Recovery as a Service (DRaaS) market comprises revenue, revenue change, and average spend per employee as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in the DRaaS market include companies such as Microsoft Azure, IBM, and Recovery Point Systems.

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Cloud-based disaster recovery solutions such as Amazon Web Services (AWS) Disaster Recovery, Microsoft Azure Site Recovery, and Google Cloud Disaster Recovery
Real-time Replication and Continuous Data Protection (CDP) such as Zerto Virtual Replication, Veeam Backup & Replication, and Commvault Continuous Data Replication
Disaster recovery orchestration tools, such as IBM Resiliency Orchestration, VMware Site Recovery Manager, and Rubrik Polaris

Traditional on-premises disaster recovery solutions, such as Symantec Backup Exec, and Veritas NetBackup Appliance
Standalone Business Continuity Planning (BCP) tools not integrated with DRaaS, such as Fusion Framework System, ClearView, and BC in the Cloud

The Disaster Recovery as a Service (DRaaS) market within the Public Cloud sector in Greece is witnessing elevated growth, fueled by increasing cybersecurity threats, the need for business continuity, and greater awareness of cloud-based solutions among enterprises.

Customer preferences: Organizations in Greece are increasingly prioritizing robust disaster recovery solutions, driven by a heightened awareness of the importance of data protection and business continuity. This shift is influenced by cultural values emphasizing resilience and adaptability in the face of challenges. Additionally, younger demographics, who are more tech-savvy and reliant on cloud services, are advocating for innovative DRaaS options that align with their digital-first lifestyles. As remote work becomes commonplace, the demand for seamless recovery solutions is further amplified, reshaping the market landscape.

Trends in the market: In Greece, the Disaster Recovery as a Service (DRaaS) market within the Public Cloud sector is experiencing a significant shift toward more integrated and automated recovery solutions. Organizations are increasingly investing in cloud-based DRaaS offerings to enhance their data protection strategies and ensure business continuity. This trend is propelled by a greater emphasis on regulatory compliance and risk management, as well as the need for rapid recovery from potential disruptions. As businesses adapt to remote work environments, the demand for scalable and flexible recovery options is likely to grow, prompting cloud service providers to innovate and expand their offerings. This evolution presents both opportunities and challenges for industry stakeholders, necessitating a focus on collaboration and customer-centric solutions.

Local special circumstances: In Greece, the Disaster Recovery as a Service (DRaaS) market within the Public Cloud sector is shaped by the country’s unique geographical vulnerabilities, such as susceptibility to natural disasters like wildfires and earthquakes. This reality drives organizations to prioritize robust disaster recovery strategies. Additionally, Greece's regulatory landscape, particularly in relation to data protection laws, compels businesses to adopt compliant cloud solutions. Culturally, there's a strong emphasis on family-run enterprises, which often require tailored DRaaS solutions to ensure continuity, thus influencing market dynamics and service offerings.

Underlying macroeconomic factors: The Disaster Recovery as a Service (DRaaS) market within Greece's Public Cloud sector is significantly influenced by macroeconomic factors such as national economic stability, investment in technology, and fiscal policies aimed at enhancing digital infrastructure. As Greece continues to recover from economic challenges, increased government support for digital transformation initiatives is fostering a more favorable environment for cloud services. Additionally, global trends in cybersecurity and data protection are pushing organizations to invest in DRaaS solutions. The rising costs associated with data breaches and natural disasters further incentivize businesses to prioritize robust disaster recovery strategies, thus shaping market dynamics.

Data coverage:

The data encompasses B2B and B2C enterprises. Figures are based on the money spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP and level of telecommunications infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Together with platform as a service (PaaS) and infrastructure as a service (IaaS), software as a service (SaaS) is one of the three primary tiers of cloud computing. It allows businesses to redirect resources away from IT hardware, software, and personnel expenses, and towards other business needs. Currently, the most prominent companies in the SaaS market are Microsoft, Salesforce, Oracle, SAP, and Google.