The new wave of system recovery is witnessing a surge of DRaaS, which involves a third-party service not only replicating, but also hosting a physical or virtual server in the event the server fails. In essence, those offering disaster management as a service (DRaaS) go beyond the conventional data backups; they offer to back up a business’ entire environment.
Since DRaaS involves having to provide a service level agreement (SLA) for meeting any and all requirements, the third-party will make sure that any loss of server functionality will be swiftly covered.
What SMEs Love about DRaaS
Any vendor providing DRaaS will offer cloud-based services that differ in their deployment model. They can be either to cloud, in cloud, or from cloud. A key point to note here is massive dominance of the to cloud segment, which holds 51.3% of the global DRaaS market. The single most important reason for this is the preference for to cloud deployment services by many SMEs. They operate mostly in virtualized environments and the to cloud DRaaS platform offers simplicity in usage and effective cost reduction when it comes to conventional DR solutions. This segment is actually expected to maintain its giant lead till at least 2022.
Browse Market Research Report of Disaster Recovery as a Service (DRaaS) Market: http://www.transparencymarketresearch.com/disaster-recovery-a-service-market.html
What Banks Love about DRaaS
The banking, financial services, and insurance (or BFSI) segment has played a pivotal role in the world’s economic structure. Most governments have in fact made it mandatory to apply disaster recovery to the BFSI sector to avoid any loss of data in terms of transactions and currency value changes. What this spells for the global DRaaS market is its largest share of 33.9% going to the BFSI sector.
Why Companies Should Love DRaaS
Total cost of ownership, or TCO is the key point to consider if a company is thinking of going for DRaaS. If an enterprise is thinking of creating a DIY DR system, then the firm will have to take into account any and all expenses related to hardware, system management, testing, licensing, and upgrading. For an organization that is not officially involved in any of the above, taking on the extra responsibility could actually add to its overall expenses rather than reducing them. Providers of DRaaS usually establish inclusive as well as predictive costs, thereby creating a transparent environment for their potential clients.
Browse Market Research Press Release of Disaster Recovery as a Service (DRaaS) Market: http://www.transparencymarketresearch.com/pressrelease/disaster-recovery-a-service-market.htm
The most critical aspect of DR is constant updation to enhance efficiency. The level of comprehensive documentation required to keep a DR system tweaked can become more than what a company wishes to handle. If, for instance, at the time of crisis, the DR system employed is out of date and does not support some of the newer activities performed in a company, it amounts to almost nothing. Add to that the necessary efforts taken for testing and compliance, it is clear that the global DRaaS market can provide many industries the safety net they have been looking for.