Market Overview:
Data Recovery Services Market Size was valued at USD 11.86 Billion unit in 2021, and it is expected to grow up to USD 23.11 Billion with CAGR of 10.0% during forecast period 2022- 2028.
A data recovery service provides the services for the recovery of lost or corrupted data. When normal data access methods cannot be executed that means there is damage, or corruption that happened in the data and didn’t have a backup, data recovery is the only option to recover the lost data without recreating it or living without it. Data recovery service helps to re-generate failed or inaccessible storage media. Data recovery is often applicable for flash drives, internal and external hard drives, storage tapes, optical media (CDs and DVDs), and solid-state drives. Common data recovery services include majorly three forms of service In-lab recovery, Data recovery software, and RAID and server recovery. Data recovery is to give assurance that anyone is not going to lose data forever. As a result of this data service market is anticipated to grow during the forecast period.
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Major Key Players for Data Recovery Services Market:
- Prosoft
- DriveSavers
- Gillware
- SalvageData
- Dell
- Lenovo
- Secure Data
- Seagate US
- KLDiscovery Ontrack
- WeRecoverData
- Disk Doctors
- Intelli Recovery
- Stellar Information Technology
- The Data Recovery Geeks
- ACS Forensics
- Datlabs
Market Dynamics and Factors:
A data recovery services help to recover deleted data for various reasons like accidental deletions, virus attacks, corrupt documents, experience inaccessibility of files and folders, permanent deletion of files, unrecognized format, inaccessible partitions, unexpected system shutdowns, error messages while opening a file and there are endless reasons due to which people or organization can lose their data and data recovery services are the only way to generate this deleted data without recreating it. That is contributing to the increasing growth of the data recovery market. Furthermore, there are so many IT companies, market research industry depends on data they provide or sell the data worth millions of dollars so these data recovery services give assurance of data to the companies. Increasing commercial use of data recovery services raises the demand for data recovery services market.
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Data Recovery Services Market Report Highlight:
- By Type, the commercial segment is expected to have the maximum share in the data recovery services market during the projected period. IT firms, the communication sector, and the work of research organizations depend on data, and for backup security of this data they mandatorily use data recovery services, which gives a boost to the data recovery service market.
- By Application, HDD is the segment predicted to expand the most in the data recovery services market during the forecast year. HDDs are inexpensive services; usable for many years and vulnerable to physical damage due to this the demand for HDD is high which also help in the growth of the data recovery services market.
- By Region, North America is expected to dominate the data recovery services market during the projection period. The advancement in technology and growing investments, and adaption of cloud-based solutions help in the growth of the data recovery services market in the North American region.
Key Industry Development:
- In January 2022, Dataprise, a leading strategic IT managed service provider, announced the acquisition of Global Data Vault, a leader in Disaster-Recovery-as-a-Service (DRaaS), Backup-as-a-Service (BaaS), and modern data protection solutions. The addition of these companies offers protection and cyber security and helps to solve client’s toughest risk mitigation and business resilience
- In November 2021, Recovery Point Systems, a leader in cloud-based business resilience services based in Germantown, acquired Geminare, a global resiliency, application, and data protection innovator, headquartered in Toronto, Canada. Geminare, one of the first industry innovators in orchestration and automation, brings maturity, capability, and reliability across virtually all disaster recovery, business continuity, and DRaaS technologies with its globally recognized Resiliency Management Platform (RMP).
Data Recovery Services Market Segmentation:
By Type
- Personal
- Commercial
- Military
- Other
By Application
- HDD
- SSD
- SD Card
- USB Flash Drive
- Mobile Phone
- PC
- Tablet
For this report, Introspective Market Research has segmented the Data Recovery Services Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Data Recovery Services Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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