MARKET OUTLOOK
The Europe Disaster Recovery as a Service (DRaaS) market is making steady growth in terms of revenue, at a CAGR of 36.92% during the years 2019 to 2027.
The United Kingdom, Germany, Spain, Italy, France, Russia and countries in rest of Europe form the DRaaS market in the European region. The Europe DRaaS market is growing at a modest rate and is driven by mature markets like Germany and the UK.
The entire IT industry’s turnover in Spain in the year 2015 was $34.3 billion. Increasing cloud computing market and data security issues will drive Spain’s DRaaS market in the forecast period. The Spanish government follows the EU data protection directive. Other than that, the government has its own Organic Law 15/1999 called the Protection of Personal Data. The Spanish Data Protection Agency (DPA) is the national regulator dealing with data protection rules and compliance.
The IT industry in Italy is anticipated to grow at an average of 2.68% till 2020. Share of investments among large IT companies are more in Italy compared to SMEs. Investments from SMEs remain largely restricted due to strict regulations from banks in giving loans post the 2008 recession. Data security in Italy is carried out under the legislative decree no 196/2003 under the data protection code. Main features of the data security code for specific processes like human resources, health data, electronic communications all come under the EU directive on data privacy. The expanding cloud computing market and concerns over data security will drive the Disaster Recovery as a Service (DRaaS) market for the forecast period.
COMPETITIVE OUTLOOK
The important players in the DRaaS market are Cisco Systems, Inc., Jive, Rackspace Hosting, Inc., NTT Communications Corporation, Amazon, Inc., Hewlett-Packard Company, VMware, Inc., SAP SE, Microsoft Corporation and IBM Corporation.