EUROPE DISASTER RECOVERY AS A SERVICE MARKET FORECAST 2022-2030

The Europe Disaster Recovery as a Service market is expected to record a CAGR of 23.07% during the forecast period, 2022-2030, and is estimated to garner a revenue of $17800.23 million by 2030.

The Disaster Recovery as a Service (DRaaS) market growth in Europe is propelled by the cloud strategies formed by the governments in the region. Additionally, the increasing government expenditure on cloud infrastructure boosts market demands. Also, the rising data security issues and the thriving cloud computing market offer growth opportunities.

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The Europe Disaster Recovery as a Service market growth evaluation includes the assessment of Poland, Belgium, Germany, the United Kingdom, Italy, France, Spain, and Rest of Europe. The United Kingdom is the largest ICT market in Europe, enabling major growth opportunities in SaaS/cloud, AI, 5G/telecoms, and cybersecurity. Most enterprises are investing in ICT to increase their productivity and growth. Also, the surge in digitalized services is designated by the rising security spending in the commercial and public sectors, the increasing demand for more customized and complex cyber solutions, and cybercrimes. According to the National Fraud and Cyber Crime Reporting Center, there were almost 400,000 reports of cybercrime and fraud in 2021. As per the same source, the tracked losses from cybercrimes amounted to $3.68 billion from April 2021 to April 2022. Such factors have resulted in data loss, raising the need for implementing advanced DRaaS methods.

In Italy, government agencies and domestic companies are increasingly prioritizing digital transformation at the local and national levels. Additionally, cybercrimes have significantly increased over the years. As per the CyberEdge Group 2021 Cyberthreat Defense Report (CDR), more than 85% of Italian firms faced at least one successful assault within a year. Besides, 60% of businesses witnessed ransomware assaults, around 8 in 10 organizations prefer security products entailing AI and machine learning, and 12.3% of IT budgets are directed toward security. Additionally, industry developments boost growth opportunities in Italy. For instance, Google partnered with Telecom Italia (ITM) in June 2022 to open a new cloud region to offer innovative hybrid, private, and public cloud services to supplement domestic companies of all sizes.

The Europe Disaster Recovery as a Service market scope entails service, deployment mode, organization size, and industry vertical. The service segment includes professional services, data security services, real time replication services, and backup & restore.

Real time data replication is the practice of syncing data between a destination database and a source as per changes taking place in the data source. Database replication is performed to offer duplication of the data environment in the event of a catastrophe. Also, most databases provide strong built-in support for duplicating data in real time, facilitating users to create multiple copies of complicated data sets. Also, it is important to ensure that data is accessible to all individual systems and servers. For instance, Google’s replication service, Datastream, synchronizes data across storage systems, applications, and heterogeneous databases with minimal latency. It supplements data replication for varied use cases, including real time analytics.

Furthermore, data security is the technique of restricting access to digital data by unauthorized parties. It covers every aspect of information security, from the logical security of software programs to the physical security of hardware & storage devices. In addition, these services aid organizations in imposing real time controls, managing regulatory compliance, and obtaining better insights and visibility to detect and address cyber threats.

Some of the eminent companies in the Europe Disaster Recovery as a Service market include Recovery Point Systems Inc, SAP SE, NTT Data Corporation, Microsoft Corporation, etc.

SAP SE provides enterprise software solutions. It offers supply chain management, human capital management, data management, and customer relationship management solutions. The company’s line of business includes sustainability, engineering, supply chain, marketing, manufacturing, finance, human resources, commerce, and asset management. It is headquartered in Walldorf, Baden-Wurttemberg, Germany.

Its key product, SAP Enhanced Disaster Recovery service for SAP BTP, Neo environment facilitates restoration of cloud production environment post-disaster with minimal data loss.

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