Recovery as a Service market to approach $6 billion by 2018

Recovery as a Service market to approach $6 billion by 2018

March 13

The use of cloud computing for disaster recovery appears to be growing on a global scale. The popularity of Recovery-as-a-Service (RaaS) is poised to reach new heights, according to a new report by MarketsandMarkets. The research firm predicted that the global RaaS industry will grow from roughly $641 million in 2013 to nearly $5.8 billion by 2018, expanding at a compound annual growth rate of 55.2 percent during this time frame.

In addition to ensuring business continuity remains intact during disruptions, organizations will also implement RaaS to minimize the need to invest in future IT infrastructure, the report said. Other drivers include the desire for 24/7 support, automation tools, secure storage and backup and low costs.

Firms in North America, Europe and the Asia-Pacific region will be the leaders in the adoption of RaaS, especially as more companies become aware of cloud-based technologies in the near future, according to MarketsandMarkets.

Cloud computing has quickly become a crucial technology for organizations worldwide. As more businesses attempt to maintain operations during the most dangerous disasters, cloud-based recovery will likely be their solution of choice.

Cloud-based recovery removes burden from users
Organizations that adopt cloud-based recovery not only receive enhanced protection and accessibility for their mission-critical data applications, but they can stop worrying about managing their IT infrastructures. The maintenance of hosted environments is handled by the vendors themselves.

In an interview with TechTarget, independent consultant Paul Kirvan explained that the cloud can help companies keep important processes running during disasters.

“For example, let’s assume you want to ensure certain key business activities, such as payroll and currency trading, experience minimal or no disruption or downtime following an incident,” Kirvan told TechTarget. “You can define a cloud-based service that can quickly recover and restart these critical applications, as well as load the data needed to handle the system requirements.”

Firms can currently choose between public, private and hybrid clouds to meet their requirements. However, Kirvan also told the news source that more organizations are likely to adopt hybrid clouds, which include the security of private deployments and the scalability of public ones, for their disaster recovery and business continuity needs.

The cloud has ushered in a new era of computing, allowing businesses to do more with fewer resources. Just like the way the technology has taken the IT industry by storm, the solution appears headed for significant growth regarding disaster recovery.

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