Disaster Recovery Solutions Market Size, Share & Trends Analysis Report By Solution Type (Data Security, Service), By Deployment (Hybrid Cloud, Public Cloud), By Organization Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Disaster Recovery Solutions Market Trends

The global disaster recovery solutions market was size valued at USD 9.59 billion in 2023 and is projected to grow at a CAGR of 36.3 % from 2024 to 2030. Growing awareness about the precautionary measures to avoid loss of data and increasing number of cloud computing solutions are driving the market primarily. Disaster Recovery (DR) solutions offer advantages such as flexibility, reliability, prompt back up of data and scalability of customers. Cyber-attacks such as MOVEit , in 2023, led to loss of data to over 2,000 organizations worldwide. DR solutions enable organizations to gain back access and recover the data. Ultimately, increasing investments in cloud technologies and growing number of cyber-attack incidences are expected to drive the market over the forecast period.

Established ICT players are observed making considerable investments to expand their existing data center storage capabilities. Companies are extensively relying on virtual platforms to perform computing, and this is promoting the adoption of virtual server infrastructure. Additionally, virtual infrastructure is more resilient and convenient to replicate.

Owing to the requirement of remotely accessing recovery systems, companies are preferring disaster-as-a-recovery services (DRaaS). Advancements in digital infrastructure has facilitated centralized backup systems in lower costs. Additionally, DR plans help to reduce the monetary losses in downtime or site failures.

Solution Type Insights

The backup and recovery segment accounted for largest revenue share of 31.2 % globally in 2023. The segmental growth is majorly attributed to availability in lower costs and increasing demand in small and medium-sized non-IT businesses with lower IT budgets. Organizations that do not rely on round-the-clock operational IT systems prefer these solutions for non-critical business systems. Moreover, backup and recovery solutions are scalable and can be automated and are thus an apt choice for disaster recovery plans.

The service segment is expected to grow at the fastest CAGR during the forecast period. Technical competence to manage large IT infrastructures, and additional features such as remote monitoring are shaping the demand of segment. Additionally, as these solutions are available in lower costs and subscription-based pricing models, companies are increasingly adopting these services.

Deployment Insights

The hybrid cloud segment dominated the market in 2023. This can be primarily attributed to the fact that deployment of disaster recovery solutions through hybrid cloud enables users to utilize on-premises software and hardware appliances, along with recovery services in the cloud. It also allows users to use a combination of virtual cloud servers and dedicated hosting infrastructure. It further enables organizations to significantly reduce costs related to the installation of disaster recovery solutions.

Moreover, hybrid cloud deployment eliminates redundancy and enhances fault tolerance. It also offers flexible, reliable, scalable, and cost-effective architecture and facilitates backup and recovery of business data and applications on secondary infrastructure.

Private cloud deployment is expected to grow at the fastest CAGR during the forecast period. The key factors supporting the growing popularity of private cloud deployment are enhanced security on different levels, better control and visibility of data.

Organization Size Insights

The large enterprise size segment dominated the disaster recovery solutions market and held a revenue share of 57.5% in 2023. The growth of the segment can be attributed to the capability of large enterprises to make considerable IT investments to enhance and update their existing DR plans. Large enterprises generally have dispersed operations across the globe and possess massive amounts of critical business data. Thus, they are compelled to incorporate efficient DR plans into their business continuity strategies.

The small and medium enterprise segment is expected to witness growth during the forecast period, 2024 to 2030. Decreasing costs of DR solutions, due to the availability of DRaaS, are enabling SMEs to implement DR plans at reduced costs.

End-use Insights

The BFSI segment dominated the market in 2023. This growth can be attributed to increasing regularization by governments across the globe for ensuring appropriate implementation of disaster recovery solutions in business continuity strategies. For instance, the Finance Ministry of India directed the public sector banks, such as Canara Bank, BOB and SBI to review their disaster recovery systems.

The government and public sector are expected to accelerate at a CAGR of 37.4% during the forecast period, 2024 to 2030. This can be attributed to the increasing need for government and public sector units to possess a certain level of disaster recovery capabilities to comply with set industry standards.

Regional Insights

North America disaster recovery market held the largest revenue share of 42.0% in 2023. The presence of giant tech companies is one of the keys drivers for regional growth. The widespread IT and BFSI sectors in the region are further fueling the demand of DR solutions market.

U.S. Disaster Recovery Solutions Market Trends

The U.S. disaster recovery solutions market held a considerable share in 2023. Continuous advancements in cloud computing and cyber security have augmented the market growth in the past.

In 2023, there were more than 300 cyber-attacks that directly or indirectly impacted thousands of Americans. The prominent tech businesses and governments are aggressively acting towards deploying DR solutions with high investments.

Europe Disaster Recovery Solutions Market Trends

Europe is expected to continue with the expansion at a CAGR of 36.6% over the forecast period. The increasing dependency of businesses across all the sectors on IT integrated platforms is driving the market.

Asia Pacific Disaster Recovery Solutions Market Trends

Asia Pacific is anticipated to experience the fastest growth, registering a CAGR of 37.7% from 2024 to 2030. This growth can be attributed to accelerated IT investments in developing countries such as China and India. Developing countries in the region are observed promoting digitalization and are introducing various initiatives to develop IT infrastructure. Moreover, these nations are observed promoting the SME sector to improve their GDPs.

Key Disaster Recovery Solutions Company Insights

Some of the prominent companies such as Acronis International GmbH, Cisco Systems Inc, EMC Corporation, Hewlett Packard Enterprise (HPE), IBM Corporation and others. The market is highly fragmented due to the presence of various companies.

• Hewlett Packard Enterprise (HPE) is a global provider of IT and cloud security solutions. The company delivers hybrid cloud service platforms that help organizations have control, visibility and easy access to applications. 

Recent Developments

• In February 2024, IBM announced a new AI integrated data storage systems named IBM Storage FlashSystem to prevent cyber and ransomware attacks. The latest version of FlashCore Module (FCM) technology caters end to end data resilience across primary and secondary workloads with AI enabled sensors developed for timely intimations of potential cyber threats and help companies recover the data faster.

• In July 2023, Cisco Systems Inc. completed the acquisition of a cloud security company, Lightspin Technologies Ltd. The acquisition is expected to accelerate Cisco’s ability to offer support & solutions required to prioritize & remediate vulnerabilities. 

Disaster Recovery Solutions Market Report Scope

Global Disaster Recovery Solutions Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the disaster recovery solutions market report based on solution type, deployment, organization size, end-use, and region.

• Solution Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Backup & Recovery Solution

  • Data Security

  • Replication Solution

  • Service

• Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

  • Hybrid Cloud

  • Public Cloud

  • Private Cloud

• Organization Size Outlook (Revenue, USD Billion, 2018 - 2030)

  • Large Enterprise

  • Small And Medium Enterprise

• End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • Government & Public Sector

  • Healthcare

  • IT & Telecommunication

  • Manufacturing

  • Retail

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa

    • South Arabia

    • UAE