Global Disaster Recovery Software Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Definition Of The Global Disaster Recovery Software Market?
Disaster recovery software refers to a specialized type of software designed to help organizations recover data, applications, and systems in the event of a disaster or disruptive event. This software is used to minimize downtime and data loss by facilitating the rapid recovery of critical IT infrastructure components.
Disaster Recovery Software Global Market Report 2024 provides data on the global disaster recovery software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The disaster recovery software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Disaster Recovery Software Market Size Expected To Change, And What Are The Growth Rate Projections?
The disaster recovery software market has seen rapid growth, expanding from $9.32 billion in 2023 to $10.93 billion in 2024, at a CAGR of 17.4%. Growth during the historic period was driven by increased data breaches, reliance on digital infrastructure, rising natural disasters, regulatory compliance, and business continuity planning. The market is forecasted to grow to $20.90 billion in 2028, with a CAGR of 17.6%. Key drivers include cloud adoption, cybersecurity threats, data protection regulations, and heightened awareness of business continuity. Major trends shaping the market include AI-driven automation, enhanced data resilience and security measures, increased demand for integrated backup solutions, and the growth of disaster recovery as a service (DRaaS).
Which Drivers Are Accelerating Growth In The Disaster Recovery Software Market?
The growing concern over data security among organizations is expected to drive the disaster recovery software market. Data security refers to protecting digital data from unauthorized access, disclosure, alteration, or destruction. The increasing volume of sensitive data and heightened awareness of the financial and reputational risks of data breaches are fueling this concern. Disaster recovery software helps protect data by enabling the quick restoration of crucial information during emergencies. For instance, a 2023 report by the UK Department for Science, Innovation, and Technology revealed that 26% of medium-sized businesses, 37% of large businesses, and 25% of high-income charities experienced cybercrime over the past year. This growing concern for data security is accelerating the disaster recovery software market.
Get Your Free Sample of the Global Disaster Recovery Software Market ReportWhat Are The Core Segments Of The Global Disaster Recovery Software Market?
The disaster recovery software market covered in this report is segmented –
1) By Deployment Type: On-Premise, Cloud
2) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises
3) By Application: Application Backup, Email Backup, Media Storage Backup
4) By Vertical: Telecommunication And Information Technology (IT)-Enabled Services, Banking, Financial Services, And Insurance, Media And Entertainment, Other Verticals
Which Emerging Trends Are Reshaping The Disaster Recovery Software Market?
In the disaster recovery software market, companies are developing advanced solutions like cloud-based disaster recovery frameworks to improve scalability and streamline recovery processes. This framework uses cloud computing to store, replicate, and recover data, offering more flexibility and cost-effectiveness compared to traditional recovery methods. For instance, in November 2022, Protera Technologies, a US-based cloud modernization company, introduced the Automated Disaster Recovery Framework, which transitions businesses from static disaster recovery plans to more dynamic testing practices. This solution helps companies validate and test recovery processes effectively, ensuring minimal disruption during cyberattacks or system failures.
What Is The Largest Region In The Disaster Recovery Software Market?
North America was the largest region in the disaster recovery software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the disaster recovery software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.