DRaaS Market Predicted to Gain $14.6 Billion by 2025
January 24, 2022 at 11:08 AM EST
Northbrook, IL -- (SBWIRE) -- 01/24/2022 -- According to a new market research report "DRaaS Market by Service Type (Backup and Restore, Real-Time Replication, and Data Protection), Deployment Model (Public Cloud and Private Cloud), Organization Size, Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets™, the DRaaS market size expected to grow from USD 5.1 billion in 2020 to USD 14.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. The flexibility and agility of cloud-based models would support the IT service needs of enterprises. The leading CSPs/hyperscalers—Microsoft, IBM, and AWS—are expected to increase their CAPEX primarily for data center expansion to support the increasing workload for their internal and external stakeholders. The increasing volume of data generation in websites and mobile apps, rising focus on delivering customer-centric applications for driving customer satisfaction, and growing need to control and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) are a few factors driving the growth of the emerging technologies. The emerging technologies, such as big data, Artificial Intelligence (AI), and Machine Learning (ML) are gaining traction, which is ultimately leading to the growth of the DRaaS market, globally.