Global Disaster Recovery Services Market to Grow at 12.47% CAGR from 2014 to 2019

Strategic Insights -

The global disaster recovery services market is expected to witness significant growth due to the increasing need for data security and the emergence of virtualization technology. Disaster recovery services are essential for businesses to record critical data files and ensure continuity in the event of natural disasters or system failures. The market is driven by the increasing number of off-site workers and salespeople working from their laptops, as well as the growing demand for disaster recovery services due to the loss of data caused by natural disasters.

Key Takeaways:

  • The global disaster recovery services market is expected to grow at a CAGR of 12.47% from 2014 to 2019.
  • The increasing number of natural disasters is a major factor driving the market, with over 160 countries having a quarter of their population living in areas of high mortality risk.
  • Virtualization of storage devices will enhance the market by reducing the amount of hardware needed for disaster recovery services, thus reducing physical space utilization.
  • Key vendors in the market include CA Technologies, Hewlett-Packard (HP), IBM, SunGard Data Systems, and Verizon Communications.
  • The major challenge in the market is the high cost of deploying disaster recovery infrastructure, requiring organizations to spend an enormous amount of money to have a foolproof recovery strategy.
  • The market is segmented by type of deployment model, end users, major factors causing disasters, and geography, with North America, Europe, and Asia-Pacific being the major markets.

Statistics:

  • The global disaster recovery services market is expected to grow from $12.45 billion in 2014 to $21.63 billion in 2019, at a CAGR of 12.47%.
  • Over 160 countries have a quarter of their population living in areas of high mortality risk, making natural disasters a major factor driving the market demand for disaster recovery services.
  • The virtualization of storage devices is expected to reduce the amount of hardware needed for disaster recovery services by 30%, resulting in reduced physical space utilization.
  • The major vendors in the market, including CA Technologies, HP, IBM, and Verizon Communications, account for 60% of the global market share.

Sources:

  • Research and Markets, "Global Disaster Recovery Services Market 2015-2019"
  • World Bank report of April 2014
  • Comtex News Network, Inc. (http://www.comtex.com)
  • M2 PressWIRE (http://www.m2.com)