Disaster Recovery as a Service - Hungary

Revenue in the Disaster Recovery as a Service is projected to reach US$31.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 20.33%, resulting in a market volume of US$80.22m 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 Market in Hungary is experiencing elevated growth, driven by increasing demand for data protection, rising cybersecurity threats, and businesses' need for seamless recovery solutions in the cloud.

Customer preferences: Businesses in Hungary are increasingly prioritizing robust disaster recovery solutions, reflecting a cultural shift towards risk management and resilience in the face of rising cyber threats. Organizations are gravitating towards cloud-based DRaaS options that offer scalability and flexibility, aligning with the growing trend of digital transformation. Moreover, younger demographics, particularly tech-savvy entrepreneurs, are demanding user-friendly interfaces and seamless integration with existing systems, influencing service providers to innovate and enhance their offerings.

Trends in the market: In Hungary, the Disaster Recovery as a Service (DRaaS) market within the Public Cloud sector is experiencing a significant shift towards enhanced resilience strategies, driven by increasing cyber threats and regulatory pressures. Organizations are adopting cloud-based DRaaS solutions for their scalability and cost-effectiveness, indicating a broader digital transformation trend. Additionally, the demand for user-friendly interfaces and seamless integration from younger, tech-savvy entrepreneurs is pushing service providers to innovate. This evolution is crucial for ensuring business continuity, ultimately shaping competitive dynamics and partnership opportunities within the industry.

Local special circumstances: In Hungary, the Disaster Recovery as a Service (DRaaS) market within the Public Cloud sector is influenced by the country's unique geographical vulnerabilities, such as susceptibility to flooding and other natural disasters. This reality compels organizations to prioritize robust disaster recovery solutions. Culturally, the emphasis on data privacy and compliance with EU regulations, like GDPR, drives demand for secure and reliable DRaaS options. Additionally, the growing startup ecosystem fosters innovation, encouraging local providers to develop tailored solutions that meet the specific needs of Hungarian businesses, enhancing market competitiveness.

Underlying macroeconomic factors: The Disaster Recovery as a Service (DRaaS) market in Hungary is significantly influenced by macroeconomic factors such as national economic stability, investment in cloud infrastructure, and regulatory frameworks. Hungary's commitment to digital transformation and EU funding initiatives enhances the adoption of public cloud solutions, including DRaaS. Additionally, the rising awareness of business continuity planning amid global economic uncertainties drives organizations to invest in resilient disaster recovery solutions. Fiscal policies promoting technology innovation and support for startups further stimulate market growth, fostering a competitive landscape that encourages local providers to offer specialized DRaaS offerings tailored to Hungarian businesses.

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.