How Has the Data Recovery Services Market Evolved Historically and What is its Current Size?
The data recovery services market has seen considerable growth due to a variety of factors.
• The data recovery services market has grown rapidly. It is expected to expand from $4.5 billion in 2024 to $5.23 billion in 2025 at a CAGR of 16.4%.
Growth drivers include the increasing number of data breaches, the adoption of cloud computing, the rising demand for data storage, stricter data protection regulations, and digitalization trends.
What Is The Projected Growth Of The Data Recovery Services Template Market?
The data recovery services market is expected to maintain its strong growth trajectory in upcoming years.
• The data recovery services market is projected to grow to $9.55 billion by 2029, expanding at a CAGR of 16.2%.
This growth is driven by increasing cyber threats, IoT device adoption, ransomware attacks, big data analytics growth, AI in data recovery, and globalization. Major trends include remote data recovery services, blockchain integration, hybrid cloud solutions, and green data recovery practices.
What Are The Key Drivers Fueling Growth In The Data Recovery Services Market?
The increase in data breaches is expected to drive the growth of the data recovery services market. Data breaches, where unauthorized access is gained to sensitive information, are becoming more frequent due to cyberattacks and inadequate cybersecurity. Data recovery services are essential in helping organizations quickly recover lost or compromised data, reducing the impact of breaches. According to the Identity Theft Resource Center, data breaches in the U.S. rose by 78% in 2023, underscoring the need for data recovery services.
What Are The Principal Market Segments In The Global Data Recovery Services Industry?
The data recovery services market covered in this report is segmented –
1) By Type: In-Lab Recovery, Data Recovery Software, Remote Data Recovery, Cloud Data Recovery
2) By Application: Secure Digital (SD) Card, Hard Disk, Universal Serial Bus (USB) Drive, Mobile Phone, Personal Computer (PC) And Tablet, Other Applications
3) By End User: Personal And Commercial, Government And Public Sector, Educational Institutions
Subsegments:
1) By In-Lab Recovery: Hard Drive Recovery, SSD Recovery, RAID Recovery, Tape Recovery
2) By Data Recovery Software: File Recovery Software, Partition Recovery Software, Email Recovery Software, Database Recovery Software
3) By Remote Data Recovery: Enterprise Remote Recovery, Personal Remote Recovery, Mobile Device Recovery
4) By Cloud Data Recovery: Cloud Backup And Recovery, Disaster Recovery As A Service (Draas), Hybrid Cloud Recovery
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How Are Emerging Trends Reshaping The Dynamics Of The Data Recovery Services Market?
Companies in the data recovery services market are forming strategic partnerships to provide comprehensive data security solutions to businesses, governments, and individuals. In July 2022, Mindtree Ltd., an India-based technology consulting company, partnered with Rubrik Inc., a US-based cloud data management firm. Together, they launched Mindtree Vault, a cyber-recovery platform that combines Mindtree’s expertise in cloud computing and cybersecurity with Rubrik’s strength in data resilience and recovery, offering comprehensive recovery services.
Who Are the Key Players In The Data Recovery Services Market?
Major companies operating in the data recovery services market are:
• Dell Technologies Inc.
• Lenovo Group Limited
• International Business Machines Corporation
• Western Digital Corporation
• Seagate Technology Holdings plc
• Stellar Information Technology Pvt. Ltd.
• Atlantix
• DriveSavers Data Recovery Inc.
• WeRecoverData Inc.
• CBL Data Recovery Technologies Inc.
• Datlabs
• Disk Doctors Labs Inc.
• Gillware Inc.
• Secure Data Recovery Services LLC
• R3 Data Recovery Ltd.
• ACE Data Recovery
• DataNumen Inc.
• LC Technology International Inc.
• Cleverfiles
• Fields Data Recovery Ltd.
• iBoysoft
• Ontrack
• SalvageData Recovery LLC
• TTR Data Recovery Inc.
• UFS Explorer
What Are The Regional Insights Into The Data Recovery Services Market?
North America was the largest region in the data recovery services market in 2024. The regions covered in the data recovery services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
