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 ABI Research has published a market study of the global market for business continuity and ‘disaster data recovery solutions’ and forecasts that this market will grow from $24.3 billion in 2009 to exceed $39 billion in 2015.
“As a result of their growing reliance on electronic data and the need for backup, storage and security, industries such as financial services and healthcare now operate under federal mandates requiring them to have disaster recovery and business continuity programs in place,” says ABI Research director Larry Fisher, “In many other industries, such programs are not legally required, but savvy companies always prepare for the worst.”
Fisher notes that business continuity and disaster recovery technologies are becoming less expensive and easier to use, in part because they are being integrated into larger IT systems, and also because they’re increasingly taking advantage of aspects of cloud computing and virtualization. Even so, he notes, “Vendors will need to keep their offerings as simple as possible, and to provide customers the broadest possible response, in order to minimize the complexity that could challenge increased acceptance of these technologies.”
The study, ‘Business Continuity / Disaster Recovery,’ covers the market for business continuity and disaster recovery solutions in the period 2004-2015, segmented by major global region, by category (hardware, software and services) and by size of business (SBM/SOHO vs. Enterprise).
For more information visit www.abiresearch.com, or call +1.516.624.2500.
SunGard Availability Services agrees with ABI’s market assessment. The company sees various trends fuelling user interest and market growth. These include:
* Organizations want to mitigate data recovery risks (after an outage or disaster) by protecting and securing data at a secondary location and have multiple recovery options to get their businesses back up and running. And to reduce capital expenditures it is cheaper to tap a third party for the second location.
* With the growth of cloud computing, there will be a need for cloud-based hot sites as low-cost recovery options as companies move IT outside their enterprises into cloud environments.
* Companies are turning to disaster recovery service providers because disaster recovery requires highly specialized personnel and generates IT infrastructure demands and costs on a business. It is more cost-effective to outsource.
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•Date: 10th March 2010 • Region: World •Type: Article •Topic: BC markets
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