The global disaster recovery-as-a-service (DRaaS) market is expected to grow at a compound annual growth rate (CAGR) of 52% from 2014 to 2019, according to a new report from technology research firm TechNavio.
DRaaS includes services that offer business continuity by enabling data backup, recovery and retrieval. It’s one of the fastest growing segments of the cloud-based recovery model under the infrastructure-as-a-service market.
By using these services, companies can restore critical data files during events such as floods, tornados, hurricanes or a sudden systems failure. They can also ensure the availability of IT infrastructure in an event of disaster.
“Large organizations and SMEs [small and mid-sized businesses] are expected to embrace hybrid cloud disaster recovery during the forecast period,” Faisal Ghaus, vice president of TechNavio, said in a statement.
The adoption of hybrid cloud disaster recovery services by organizations eliminates the need for a secondary disaster recovery site, enhances traditional disaster recovery solutions and delivers disaster recovery solutions for remote offices, the report says.
The report highlights the emergence of virtualization in disaster recovery services. The rapid rise in the number of off-site workers and sales people working from laptops has led to an increased demand for disaster recovery services. Virtualization of storage devices is expected to enhance the growth of this market in the coming years, TechNavio says.