By Tim Jewell, Founder and CEO at DataDepositBox
September 22, 2017
Data Analytics and Big Data have become the latest buzzwords in the IT industry. As more businesses are realizing the significance of online presence and learning the fundamentals of e-commerce, the need for cloud backup and disaster recovery solutions are also increasing.
Managed Service Providers (MSPs) are leading the SMB market as businesses are looking for strategic and reliable partners, who can provide robust cloud backup and data protection solutions. Since downtimes have proven to cause significant losses, MSPs are expected to lend a helping hand by keeping this problem at bay. For instance, in an event of an outage — whether caused by natural disasters or human errors, MSPs are able to provide rapid database recoveries, allowing the affected companies to get back on track quickly.
Backup and Disaster Recovery Solutions Market and Domain Advancements
According to Markets and Markets research, the Disaster Recovery as a Service (DRaaS) market will grow from USD $1.7 Billion in 2016 to USD $11.2 Billion by 2021*. This growth trend is expected to continue in the years beyond 2021. A similar study by TechNavio predicts that the global backup as a service market to grow at a CAGR of around 27% in the period from 2016 to 2020.**
MSPs have been adding modern cloud backup and protection solutions to their offerings which have proven to be quite promising to businesses in all industries. Yet, at the same time, some MSPs continue to struggle to create a demand for their backup & disaster recovery (BDR) business. Here are a few ways they can succeed in that endeavor:
Improving Cloud Service Offerings
If you are an MSP and are interested to increase your cloud offerings, it might be fitting to start from such services as Cloud app migration & management, consultancy, and private cloud services. In addition, you can also offer Identity Management as a separate service.
Identity management is becoming a natural requirement for organizations that want to improve employee management and get a better control on company resources access. However, companies often lack the expertise. This is where you come in as an MSP. You can incorporate related services, such as device management, user management, password management in your existing cloud services. There is a huge demand for these services, and you can certainly benefit from venturing into these value added services.
Conclusion
Disaster recovery infrastructure needs considerable upfront investments. Additional investments are also needed for hardware and networks keep up after the initial investments. Many SMEs shy away from implementing disaster recovery solutions in their systems, on premises, due to these associated high costs, which is one of the primary growth drivers for this market. Therefore, companies instead opt for the annual subscription model of BaaS.
Data Deposit Box (DDB) is an award-winning cloud data backup and recovery solution, specifically designed for small, mid-sized to enterprise organizations. DDB is differentiated by its numerous value-added and industry leading features – agentless technology, on-site portable local storage, multiple off-site data centres, and virtual environments support.
About the Author: Tim Jewell is the Founder and CEO of Data Deposit Box, a publicly traded (OTC: DBB), Toronto-based cloud backup service provider.
* https://goo.gl/OEwoxi
** https://goo.gl/2QWnIg
Tags: DataDepositBox, Expert Tips, Tim Jewell
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