How Disaster Recovery Will Become a $12 Billion Industry By 2020  

The last few years has seen the burgeoning of many Disaster Recovery companies around the globe. As it turns out, these companies may know something everyone else might not. If a study that MarketsandMarkets published recently is anything to go by, the disaster recovery industry is about to go through tremendous growth.

disaster recovery companies

According to the report, Disaster Recovery as a Service will be worth $11.92 billion by 2020. This news is bound to excite providers of Disaster Recovery as a Service (DRaaS) solutions. For an industry that is only worth $1.42 billion today, reaching $12 billion will be one of this decade’s most intriguing financial explosions. Very few industries ever grow that fast. A 52% annual rate of growth would be impressive for any industry.

A new approach to DRaaS will increase adoption and deployment

This report has backed up its claims by taking the reader deep into the Disaster Recovery industry showing you the various subgroups of the market. It analyses these subgroups and presents the estimates of the industry metrics. It also clearly shows the opportunities, emerging trends and challenges that anyone who wants to go into the industry ought to know. The manner in which this MarketsandMarkets report goes into the details of the industry is what makes its claim all the more believable.

The firm says many small and medium sized businesses do not plan for disaster Recovery. It points this and the use of cloud-based applications that are platform dependent as the two main reasons why the Disaster Recovery as a Service market is struggling. These industry struggles have hampered the adoption as well as deployment of disaster recovery solutions. What this means is the firms that will figure out how to overcome these struggles are bound to reap big in the next few years.

A growing understanding of the benefits of DRaaS will foster growth

However positive anyone might want to be regarding the disaster recovery industry, you can’t help but shrug off the numbers in this report as mere wishful thinking. Given the slow rate of adopting recovery tools that has been recorded in past years, many would be forgiven for being critical about the possibility of these predictions coming true. Yet, Gartner’s first ever DRaaS Magic Quadrant (PDF) shows that business organizations are going to quite heavily invest in cloud recovery solutions in the next few years.

Gartner believes that by 2018, business enterprises will be investing more in cloud recovery solutions than the traditional ones. As business leaders get a deeper understanding of the benefits of cloud Disaster Recovery as a Service, they will embrace cloud disaster recovery solutions more, which will lead to momentous growth of the industry, perhaps the kind that the MarketsandMarkets report predicts.