Disaster Recovery as a Service (DRaaS) Solutions Statistics


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Disaster Recovery As A Service (Draas) Solutions Statistics 2023: Facts about Disaster Recovery As A Service (Draas) Solutions outlines the context of what’s happening in the tech world.

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Top Disaster Recovery As A Service (Draas) Solutions Statistics 2023

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Disaster Recovery As A Service (Draas) Solutions “Latest” Statistics

  • According to the U.S. Department of Commerce, 93% of enterprises that lose their computer systems for 10 days or more due to a disaster file for bankruptcy within one year of the disaster. NARA stands for National Archives and Records Administration.[1]
  • According to the University of Texas study, 94% of organizations that experience a catastrophic data loss in a disaster do not survive – 43% are forced to close immediately, while 51% are pushed out of business within two years.[1]
  • According to a Tech Trends poll conducted by Enterprise Storage Forum, more than 40% of US organizations have already used DRaaS, with another 20% planning to do so in the near future.[1]
  • The worldwide DRaaS industry is currently valued at around $2.4 billion, and it is predicted to expand by more than 50% to $3.7 billion by 2021.[1]
  • The global disaster recovery as a service (DRaaS) market is predicted to increase at a compound annual growth rate (CAGR) of 39.5% from $5.79 billion in 2021 to $8.08 billion in 2022.[2]
  • At a CAGR of 34.9%, the worldwide disaster recovery as a service (DRaaS) market is estimated to reach $26.73 billion in 2026.[2]
  • Marriott announced a security issue in March 2020 that affected the data of over 5.2 million hotel guests who used the company’s loyalty application.[2]
  • According to research conducted by Invenio IT, less than 10% of businesses survive a calamity without a disaster recovery strategy.[2]
  • According to a study, 2.5 quintillion bytes of data are produced every day, and unplanned downtime of systems, which results in the shutdown of numerous firms, is a key factor contributing to the loss of this data.[2]
  • If a business does not use a disaster recovery service, it might lose up to $100,000 per hour of downtime, which is the average loss recorded by 98% of businesses.[3]

Also Read

How Useful is Disaster Recovery as a Service Draas Solutions

In recent years, Disaster Recovery as a Service (DRaaS) solutions have gained popularity as a way for organizations to outsource their disaster recovery needs to third-party vendors. These solutions offer a range of benefits, including lower costs, simplified management, and increased flexibility in adapting to changing business needs. But just how useful are DRaaS solutions in practice?

One of the primary benefits of DRaaS solutions is their cost-effectiveness. By leveraging the infrastructure and expertise of a third-party vendor, organizations can avoid the upfront capital costs of building and maintaining their own dedicated disaster recovery infrastructure. This can be particularly advantageous for smaller organizations with limited IT budgets, as it allows them to access enterprise-grade disaster recovery capabilities without the need for a significant financial investment.

Additionally, DRaaS solutions can offer simplified management, as the vendor is responsible for monitoring and maintaining the disaster recovery infrastructure. This means that organizations can focus on their core business activities without having to worry about the complexities of disaster recovery planning and execution. Furthermore, DRaaS solutions typically offer a high degree of automation, allowing organizations to quickly and easily recover their systems and data in the event of a disaster.

Another key advantage of DRaaS solutions is their flexibility. Organizations can tailor their disaster recovery plans to meet their specific needs, ensuring that critical systems and data are protected in the event of a disaster. Additionally, DRaaS solutions can scale with the organization’s business growth, allowing them to easily expand their disaster recovery capabilities as needed.

Despite these benefits, however, DRaaS solutions are not without their challenges. One of the key concerns surrounding DRaaS is data security and compliance. Organizations must ensure that their data is properly protected and that it meets the necessary regulatory requirements, even when it is stored off-site with a third-party vendor.

Another potential drawback of DRaaS solutions is the risk of vendor lock-in. Organizations that rely on a single vendor for their disaster recovery needs may find themselves beholden to that vendor, making it difficult to switch providers if necessary. Additionally, organizations must ensure that their chosen vendor has the necessary expertise and resources to effectively manage their disaster recovery needs.

In conclusion, DRaaS solutions offer a range of benefits for organizations looking to enhance their disaster recovery capabilities. From cost-effectiveness and simplified management to increased flexibility and scalability, DRaaS solutions can help organizations protect their critical systems and data in the event of a disaster. However, it is important for organizations to carefully evaluate their options and choose a reputable vendor with the necessary expertise to ensure the success of their disaster recovery strategy.

Reference

  1. enterprisestorageforum – https://www.enterprisestorageforum.com/backup/draas-guide/
  2. globenewswire – https://www.globenewswire.com/news-release/2022/03/22/2408012/0/en/Disaster-Recovery-as-a-service-DRaaS-Global-Market-Report-2022.html
  3. acronis – https://www.acronis.com/en-us/blog/posts/draas/

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