Analyzing the Global Disaster Recovery Solutions Market
The global disaster recovery solutions market is expected to witness significant growth due to the increasing dependency on IT infrastructure and business solutions by enterprises worldwide. As information and data form a critical part of business operations, protecting it in the case of a disaster is mandatory to ensure uninterrupted business functioning. Disaster recovery solutions help mitigate loss of vital and sensitive business data and prevent business from coming to a standstill in the occurrence of serious incidents or disasters.
Disaster recovery solutions find applications across a wide variety of verticals such as defense, healthcare, e-commerce, and energy and power. Being able to recuperate from unavoidable circumstances such as environmental disasters and catastrophes is a top priority for enterprises. Subsequently, this has led enterprises to leverage disaster recovery solutions and monitoring tools to secure and recover business data and applications in the most economical way with less downtime.
The market can be divided according to the solutions offered, comprising data recovery planning and testing, real-time application, data security and compliance, and backup solutions. The services offered in the space include support and maintenance, consulting and system integration, and managed services.
Geographically, the Asia Pacific region especially countries such as Japan, China, and India are expected to witness the highest growth in the global disaster recovery solutions market, mainly due to the extensive use of cloud technology in business operations across the various industry verticals. North America is also estimated to experience high market growth in light of several disasters including hurricanes and tornadoes having plagued the region in recent times. Meanwhile, European countries such as the UK, France, and Germany are considered to be early adopters and highly reliant on technological expertise and tools to secure storage, and backup of critical operational data. High capital investment poses a hindrance to the growing disaster recovery solutions market as these solutions are usually idle and occupy valuable space, making it uneconomical for enterprises; however, it has not affected the market growth significantly.
Some of the key players in the disaster recovery solutions market include Acxiom, Amazon Web Services, CA Technologies, Carpathia Hosting, CommVault Systems, EVault Inc., Hewlett Packard Corp., and International Business Machines Corp.