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3. Microsoft (US) and IBM (US) are leading players in DRaaS Market

The global DRaaS market size is estimated to be USD 8.8 billion in 2022 and is projected to reach USD 23.5 billion by 2027, at a CAGR of 21.6% during the forecast period. Compelling need to lower TCO, save time, and allow IT teams to shift focus to higher-value tasks is one of the key factors driving market growth.

The key market players that dominate the DRaaS market include Microsoft (US), IBM (US), VMware (US), AWS (US), Sungard AS (US), iland (US), Recovery Point (US), InterVision (US), TierPoint (US), and Infrascale (US). These players have adopted various strategies such as new product launches and enhancements, partnerships, collaborations, and acquisitions to grow in the DRaaS market.

To know about the assumptions considered for the study download the pdf brochure

Microsoft is a global multinational technology corporation that produces computer software, consumer electronics, personal computers, and related services. It offers a large product portfolio, including operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft is one of the leading players in the DRaaS market. The company’s DRaaS offerings comprise backup and recovery solutions and disaster recovery services. Microsoft offers DRaaS solutions and services through Microsoft Azure. In May 2020, Microsoft launched Back2Business Solution Boxes to enable SMBs in India maintain business continuity during COVID-19 and continue cloud adoption.

IBM is a leading provider of cloud platform services and cognitive solutions. The company offers infrastructure, hosting, and consulting services in different areas that consist of customer relationship management, business analytics optimization, outsourcing, software, and security. The organization provides efficient and reliable disaster recovery and business continuity services to large enterprises and SMBs in the DRaaS market. IBM’s Resiliency DRaaS offers clients several benefits, including enhanced RTO and RPO, tailored solution architectures for different requirements of different businesses, and reduced recovery costs via automation and orchestration capabilities. In November 2021, IBM acquired SXiQ, which enhanced IBM Consulting’s capabilities in Australia and New Zealand to modernize applications and technology infrastructure in the cloud.

Related Reports:

DRaaS Market by Service Type (Backup & Restore, Real-Time Replication, Data Protection, and Professional Services), Deployment Mode (Public Cloud and Private Cloud), Organization Size, Vertical and Region - Global Forecast to 2027

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