MARKET OUTLOOK
Triton Market Research envisions that the market for Disaster Recovery as a Service (DRaaS) would witness a compound annual growth rate of 35.44% over the forecast period 2019-2027.
Brazil, Mexico and countries in rest of Latin America form the market for Disaster Recovery as a Service (DRaaS) in the Latin American region.
Mexico and Brazil are the prime cloud computing investment destinations in Latin America. The cloud computing market in the region is anticipated to grow at an average of 28% per annum till 2020. The market growth is led by the growth in service-oriented architecture as a prime factor. Cloud software solutions are anticipated to grow significantly over the forecast period. Cloud software solutions are anticipated to grow significantly over the forecast period. Cloud services are in demand for financial services, marketing and manufacturing in the region. Countries like Brazil, Mexico and Argentina are the main investment destinations for IT software in Latin America.
Over the years, the frequency of droughts and floods have increased in the region due to global warming. The south of Mexico to the eastern regions of Latin America are more prone to disaster. Latin America is the most vulnerable region for cyber-attacks. In the last two years, cyber-attacks in Latin American countries have increased by over 113%. Increasing cyber-attacks have led companies investing in data security and retrieval technologies.
COMPETITITVE OUTLOOK
Rackspace Hosting, Inc., VMware, Inc., Geminare, Incorporated, Microsoft Corporation, Hewlett-Packard Company, Zerto, Ltd., Jive, Cisco Systems, Inc., NTT Communications Corporation, Columbus Business Solution/Cable & Wireless Communications Plc, SAP SE, iland Internet Solutions Corporation, Sungard Availability Services (AS), Amazon.com, Inc. and IBM Corporation are a few of the prime players in the DRaaS market.