MARKET OUTLOOK
The North America DRaaS market is estimated to grow at a CAGR of 34.70% for the forecast duration 2019-2027.
Canada and the United States are the countries that form the DRaaS market for the North American region.
Canada is seen amongst high revenue markets globally. The market is mainly driven by software service solutions, cloud computing and data recovery services. A majority of the IT innovations in Canada are running in line with the US market. The IT services sector market of Canada is mainly driven by cloud computing and the Internet of Things at the core level. Canada is the most lucrative investment destination for cloud computing. More than a third of the new startups in Canada are adopting cloud computing from the start. Over the years, enterprises in Canada are contracting cloud services to third-party companies. According to an ITA US study, the hybrid cloud computing service market in Canada is increasing steadily. Cybersecurity is a clear priority among companies in Canada. The demand for Big Data analytics and cloud computing will drive the cybersecurity segment in the medium term. With more than 160% increments in cyber-attacks and data breach taking place in the last three years, companies are overwhelmingly concerned about data security. Companies and service providers are asked to sign an agreement on data security according to IT privacy & security act of Canada.
COMPETITIVE OUTLOOK
The key players in the DRaaS market include Microsoft Corporation, Amazon.com, Inc., Rackspace Hosting, Inc., SAP SE, NTT Communications Corporation, Jive, Cisco Systems, Inc., VMware, Inc., Hewlett-Packard Company and IBM Corporation.