vCenter Site Recovery Manager
Protect all of your virtualized applications with vCenter™ Site Recovery Manager™, a disaster recovery solution that provides automated orchestration and

Features:
- non-disruptive testing of centralized recovery plans
- VM-centric policy-based storage and replication
- Centralized recovery plans
- Self-service, policy-based provisioning
- Automated disaster recovery failover
- Planned migration and disaster avoidance
- Automated failback
- Non-disruptive testing
- Flexible, cost-effective Replication
- DR automation for all virtualized applications
- Support for Third-party array-based replication
- Disaster Recovery to the Cloud Services based on Site Recovery Manager
- VMware vCloud Air Disaster Recovery
https://www.vmware.com/products/site-recovery-manager/features.html

vCenter Site Recovery Manager - Automates site recovery through creation and testing of recovery plans and integrates with 3rd party (array-based) storage replication.

New features in SRM 5.5 are:
- vSphere Replication supports movement of virtual machines by Storage DRS and Storage vMotion on the protected site
- Array-based replication supports movement of virtual machines by Storage DRS and Storage vMotion within a consistency group
- Preserve multiple point-in-time (PIT) images of virtual machines that are protected with vSphere Replication
- Protect virtual machines that reside on VMware vSphere Flash Read Cache storage (vSphere Flash Read Cache is disabled on virtual machines after recovery)
- Protect virtual machines that reside on the vSphere Storage Appliance (VSA) by using vSphere Replication. VSA does not require a Storage Replication Adapter (SRA) to work with SRM 5.5.


SRM v5 enabled host based replication which will manage replication at the virtual machine (VM) level through VMware vCenter Server. It will also enable the use of heterogeneous storage across sites and reduce costs by provisioning lower-priced storage at failover location.
SRM is supported with vCenter Standard and vCenter Foundation but not with the Essentials editions. Vendor Link: http://www.vmware.com/files/pdf/products/SRM/VMware-vCenter-SRM-Datasheet.pdf