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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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
The Disaster Recovery as a Service market within the Public Cloud sector in North America is witnessing significant growth, fueled by increasing data security concerns, the rising frequency of cyber threats, and the demand for cost-effective recovery solutions.
Customer preferences: Consumers are increasingly prioritizing robust disaster recovery solutions, reflecting a growing awareness of the potential risks associated with data loss and cyber threats. This shift is particularly evident among small and medium-sized enterprises (SMEs) that require affordable yet reliable recovery options. Additionally, as remote work becomes more prevalent, organizations are seeking seamless integration of disaster recovery services with existing cloud infrastructures. This trend highlights a cultural shift towards proactive risk management and resilience in an increasingly digital landscape.
Trends in the market: In North America, the Disaster Recovery as a Service (DRaaS) market within the public cloud sector is experiencing significant growth, driven by heightened awareness of cybersecurity threats and data loss risks. Small and medium-sized enterprises (SMEs) are increasingly adopting DRaaS solutions that offer cost-effective and reliable recovery options. Furthermore, as remote work becomes the norm, organizations are prioritizing seamless integration of these services with their existing cloud infrastructures. This trend underscores a broader cultural shift towards proactive risk management, emphasizing resilience in a rapidly evolving digital landscape, which may lead to increased investments and innovation among industry stakeholders.
Local special circumstances: In Canada, the Disaster Recovery as a Service (DRaaS) market within the public cloud sector is thriving due to the diverse geography and varying climate risks, which necessitate robust disaster recovery solutions. The regulatory environment, particularly stringent data protection laws, compels organizations to adopt DRaaS to ensure compliance and safeguard sensitive information. Additionally, a culturally ingrained emphasis on innovation and technology adoption among Canadian businesses fosters a proactive approach to risk management, further driving the demand for reliable cloud-based recovery services.
Underlying macroeconomic factors: The Disaster Recovery as a Service (DRaaS) market within the public cloud sector in Canada is significantly influenced by macroeconomic factors such as economic stability, technological innovation, and government policies. With a strong national economy bolstered by diverse industries, Canadian companies are increasingly investing in cloud solutions to enhance operational resilience. Furthermore, favorable fiscal policies promoting technology adoption and innovation are driving growth in the DRaaS market. Global trends, such as rising cybersecurity threats and climate change impacts, also heighten the urgency for robust disaster recovery strategies, compelling organizations to prioritize DRaaS for business continuity and compliance.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices
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.