Disaster Recovery Failings Drive Market Expansion
Disaster recovery, for all its importance, is all too overlooked in many businesses, often to those locations’ detriments. Without proper means in place to ensure data remains safe and easy to access, its costs can spike and its effects can be long-lasting, harming companies over periods of years.
The global disaster recovery service market is on the rise as a result of many businesses failing to take measures to keep them safe, Transparency Market Research reported. Failed service prevention efforts often lead IT companies to put the wrong safeguards in place – when they lose information as a result, they often see the effects on a major scale. Services offered, operating systems, virtual platforms and applications all struggle to remain fully operational without sometimes-vital information kept in check.
Of the different models in the market, companies most often appeal to cloud storage and updating, which is inexpensive but also potentially problematic. Disaster recovery as a service model can lead to pay-as-you-go pricing, which is a short-term improvement but potentially a long-term problem, as failure to pay could lead to that information being hard or near impossible to access. While on-premises options like data tapes may seem more expensive, they require less immediate attention at times.
Some major end-use verticals of the global disaster recovery service – in other words, prominent users of the services – include web and e-commerce companies, manufacturers, healthcare providers, government agencies and banks. In other words, the increasing need for immediate data access is heavily influencing the market as a whole. This will only become more pressing in years to come, as well.
Concerns continue
There’s still plenty of risk in the data market, Channel Partners Online discovered. A recent survey found that more than half of more than 2,000 surveyed IT professionals and leaders are looking to add to their disaster recovery abilities through 2017. This is even more pressing as two out of every five businesses can never fully recover if they’re affected by natural or man-made disasters. Less than 45 percent of companies currently believe they’re “very prepared” to recover assets if they potentially experience an outage.
This lack of preparation is very pressing as more than 40 percent of companies have experienced multiple data failure incidents, and the average losses from these problems can add up to nearly $42,000 per company. This means even more care will need to be taken in the near future for better protection.