MARKET OUTLOOK
The Asia-Pacific Disaster Recovery as a Service (DRaaS) market is expected to grow at a CAGR of 38.42% in terms of revenue over the forecast period 2019-2027.
China, India, Japan, South Korea, Australia & New Zealand, ASEAN countries and countries in rest of APAC together form the market for Disaster Recovery as a Service (DRaaS) in the Asia-Pacific region.
The IT industry in Australia is anticipated to grow at an average of 3.5% till 2020. The growth is led by the growing Internet of Things market, cognitive computing and the expanding cloud computing services in the country. SMEs in Australia are leading in cloud computing investments (specifically SaaS), and a majority of the SMEs in the country have adopted cloud computing. Public cloud computing dominated the Australian market in 2016. Over 1,095 security breach incidences were reported in Australia in the year 2016. And hence, data security is among the foremost reasons for companies investing in DRaaS services in the country.
Majority of the countries in rest of APAC are transitional economies. Overall, the GDP growth in RoAPAC countries is anticipated to grow between 2-4.2% till 2019. However, inflationary rates are expected to drive the prices of consumer durables for the short-term period. On the average, the IT sector in rest of Asia-Pacific is anticipated to grow at an average of 7% till 2020. The growth will be driven by the countries of Vietnam, Indonesia, Malaysia and Singapore. Software and services will be the major drivers for the IT sector in these countries.
COMPETITIVE OUTLOOK
The notable companies in the market are Amazon.com, Inc., NTT Communications Corporation, Microsoft Corporation, SAP SE, Cisco Systems, Inc., IBM Corporation, Rackspace Hosting, Inc., Hewlett-Packard Company, Jive and VMware, Inc.