BCDR market opportunity

BCDR market opportunities on the rise

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Business continuity and disaster recovery plans are crucial to any size business. By definition, business continuity describes the processes and procedures an organization puts in place to ensure that mission-critical functions can continue during and after a disaster. Disaster recovery is a set of steps that should be taken to resume operations in the aftermath of a catastrophic natural disaster or emergency.
Disaster Recovery as a Service is defined as duplication of physical or virtual servers by a third-party to provide failover in the event of a man-made or natural data failure. DRaaS is primarily implemented to protect resources and data from disruption in the event of disaster. It also helps business continuity for organizations, because it offers a global system backup.
In its Survey Analysis: IT Disaster Recovery in 2017 report, industry research company Gartner reported these key findings:

  • Roughly 80% of survey respondents have had an incident during the past two years that required the use of an IT disaster recovery plan.
  • Cloud-based recovery is now the preferred choice of a recovery location for critical IT infrastructure services, according to 23% of respondents.
  • IT DR budgets as a share of overall IT spending are anticipated to increase at both ends of the budgetary spectrum, with significant growth in the percentage of organizations spending more than 7%, as well as an increase in those spending less than 1%, compared with 2016.
  • 37% of organizations target the restoration of mission-critical business processes in less than 60 minutes, with 67% targeting less than four hours.
  • Database replication and storage-based replication were the most-prevalent data protection methods.
  • 34% percent of respondents use DR orchestration tools in production.

These findings indicate that organizations are realizing how critical BCDR plans are to their business. BCDR plans and their implementations also open up new market opportunities.

  • Market Research Media estimates that the U.S. Business Continuity and Disaster Recovery market will grow at a robust rate between 2018 and 2023, exceeding $28 billion by 2023.
  • Variant Market Research estimates the DRaaS market will reach $19 billion by 2024 and will grow at a 34.7% CAGR from 2016 to 2024.
  • Research firm Markets and Markets also reports similar statistics indicating the DRaaS market growing from $2.19 billion in 2017 to $12.54 billion by 2022 with a 41% CAGR during this timeframe.

How Arrow Can Help
Arrow offers its partners an array of services that will help them take advantage of the BCDR market growth opportunities. Arrow’s Engineering Services, Solutions Lab and Cloud Solutions are all here to broaden and accelerate your design and implementation offerings. Contact your Arrow representative to learn more about BCDR market opportunities.

Last modified: May 3, 2019