HOME Research Insight New Product Developments, to Gain a Strong Foothold in the Disaster Recovery as a Service Market

New Product Developments, to Gain a Strong Foothold in the Disaster Recovery as a Service Market

The Disaster Recovery as a Service (DRaaS) market size is expected to grow from USD 2.19 Billion in 2017 to USD 12.54 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 41.8% during the forecast period. DRaaS enables replication of data and application to ensure business continuity in the event of a disaster. With the increasing adoption rate of cloud-based solutions among Small and Medium-sized Enterprises (SMEs), the DRaaS market is expected to grow rapidly.

Key players in the DRaaS market include Amazon Web Services (Washington, US), Cable & Wireless Communications Limited (London, UK), IBM Corporation (Armonk, New York, US), SunGard Availability Services (Pennsylvania, US), TierPoint, LLC (Missouri, US), and VMware Inc. (California, US). These players have adopted various strategies, such as partnerships, agreements, mergers and acquisitions, and new product developments, to gain a strong foothold in the DRaaS market and achieve better profit margins.

SunGard AS has consistently focused on new product launches and partnerships strategy to deliver high quality and advanced technology products and services. In the recent years, the company has adopted various business strategies to expand its customer base and enhance its brand equity. In May 2016, SunGard AS introduced cloud-based recovery for SAP HANA which enables enterprises to gain the advantages of DRaaS. This product enables end-users to limit business risk by protecting SAP HANA-based applications with a flexible, pre-engineered, and SLA-protected DR solution.

IBM’s core experience in the cloud technology and services has enabled it to provide highly competitive end-to-end solutions which can tackle emerging challenges that end-users are facing in the DRaaS market. Moreover, the company is focusing on the inorganic growth strategy, which helps it to expand its customer base, revenues, and profit margins. For instance, in February 2016, IBM and VMware formed a strategic partnership designed to help enterprises benefit from cloud. They agreed to jointly market and sell new offerings for hybrid cloud deployments, including disaster recovery, seamless workload migrations, data center consolidation, and capacity expansion.

The DRaaS market research report analyzes global adoption trends, future growth potentials, key drivers, vendor portfolio analysis, restraints, opportunities, and value chain in the market.

Related Reports:

Disaster Recovery as a Service Market by Service Type (Backup & Recovery, Real-Time Replication, Data Protection, and Professional Services), Service Provider, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2022

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