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 the United States is witnessing elevated growth, fueled by increasing data security concerns, regulatory compliance demands, and the rising reliance on cloud solutions for business continuity.
Customer preferences: As organizations prioritize data protection and business continuity, there is a growing preference for tailored Disaster Recovery as a Service (DRaaS) solutions that cater to specific industry needs. Companies are increasingly valuing flexibility and scalability, opting for cloud-based systems that align with their operational demands. Furthermore, the rise of remote work has heightened awareness of the importance of robust disaster recovery plans, prompting businesses to invest in comprehensive DRaaS offerings that ensure seamless recovery in the face of disruptions.
Trends in the market: In the United States, the Disaster Recovery as a Service (DRaaS) market within the Public Cloud is experiencing a notable shift towards customized solutions that address specific industry requirements, driven by a heightened focus on data protection and business continuity. Organizations are increasingly prioritizing flexibility and scalability, favoring cloud-based systems that can adapt to their unique operational needs. The rise of remote work has further underscored the critical importance of comprehensive disaster recovery plans, leading businesses to invest in DRaaS offerings that facilitate seamless recovery during disruptions, thereby reshaping the competitive landscape for industry stakeholders.
Local special circumstances: In the United States, the Disaster Recovery as a Service (DRaaS) market within the Public Cloud is significantly influenced by the country’s diverse geography and regulatory landscape. Regions prone to natural disasters, such as hurricanes and wildfires, are driving demand for robust recovery solutions tailored to local risks. Additionally, stringent compliance requirements, particularly in finance and healthcare, compel organizations to adopt DRaaS to ensure data integrity and security. This unique blend of environmental and regulatory factors fosters a competitive market landscape, encouraging innovation and customization among service providers.
Underlying macroeconomic factors: The Disaster Recovery as a Service (DRaaS) market within the Public Cloud in the United States is shaped by several macroeconomic factors, including economic stability, technological innovation, and investment trends. The national economy's resilience encourages businesses to allocate budget towards robust disaster recovery solutions, while increasing reliance on digital infrastructure fuels demand for cloud-based services. Furthermore, favorable fiscal policies promoting technology adoption and cybersecurity measures enhance market growth. As organizations prioritize data protection amid rising cyber threats, the DRaaS market is poised to expand, reflecting the interplay of economic conditions and technological advancements.
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.