Albany, NY -- (SBWIRE) -- 09/16/2016 -- Cloud-based services help protect companies from the loss of mission-critical data in the event of a man-made or natural disaster. In addition to protecting data, Disaster Recovery-as-a- Service (DRaaS) offerings help ensure business continuity by minimizing downtime and disruption to customers, clients, and employees in the event of server failure or other disasters. DRaaS solutions also typically offer more than just data recovery protection, by being able to replicate infrastructure and applications to help ensure the full continuity of business operations.

Transparency Market Research, in a report titled "Disaster Recovery as a Service (DRaaS) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022," states that the global disaster recovery as a service (DRaaS) market is anticipated to expand at an astounding 36.0% CAGR from 2014 to 2022, rising from a value of US$621.3 mn in 2013.On the basis of deployment, the DRaaS market is divided into in cloud DRaaS, to cloud DRaaS, and from cloud DRaaS. Accounting for a 51.30% share in 2013, the to cloud segment dominates the overall market in terms of revenue.

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Businesses across verticals want to reduce the impact of downtime in the event of a disaster. While disaster recovery may be emerging as the top priority, it can also be highly capital intensive. With a traditional approach, companies would require not only a secondary datacenter, but also a complete replica of the original business process' IT environment. This approach can elevate costs, running into millions of dollars. For many small- and medium-sized companies, these expenses are considerably high, forcing them to look for alternatives. Organizations are looking for more cost-effective ways to implement an easy-to-use disaster recovery service. Evaluating important factors, such as the cost and impact that data loss and downtime have on organizations, DRaaS becomes a viable—if not essential—option.

Drivers of growth for the DRaaS market include benefits such as greater flexibility, faster recovery, cost effectiveness, automatability, and simplicity of test. Increases in worldwide enterprise IT spending across verticals has driven the growth of the DRaaS market. The growth of micro, small, and medium-sized enterprises (MSMES) have led to the immense popularity of DRaaS. DRaaS is a viable solution to achieve effective and efficient disaster recovery in various application sectors.