Market Overview:
Global Data Recovery Services Market was valued at USD 13.05 Billion in 2022 and is expected to reach USD 28.06 Billion by the year 2030, at a CAGR of 10.04%.
The process of retrieving or recovering data from various storage devices that may have suffered from data loss is known as data recovery services. Accidental deletion, hard drive formatting, reinstalling Windows, partition loss, issues with the device booting, and other scenarios data restoration Services Data recovery is a technique for retrieving information that has become inaccessible as a result of physical or logical damage to a storage device. It is an affordable service that provides quick data recovery and a tonne of flexibility. The increasing adoption of cloud-based solutions and rapid data recovery are two major factors driving the demand for the data recovery services market. It offers dependable, flexible, and reliable solutions that ensure business continuity even in the event of a disaster.
Top Key Players Covered In The Data Recovery Services Market:
- Stellar Information Technology (India)
- DriveSavers (US)
- Gillware (US)
- SalvageData (US)
- Dell (US)
- Lenovo (Hong Kong)
- Secure Data (US)
- Seagate (US)
- KLDiscovery Ontrack (Spain)
- WeRecoverData (US), and Other Major Players.
Market Dynamics and Factors:
Data recovery services and security measures are being implemented by many industries, including healthcare and retail, to secure their digital assets from cyber-attacks. The market for data recovery services is expanding significantly due to the desire for solutions that may offer data resilience, operational efficiencies, and fast information on installed data center infrastructure. Businesses invest a significant amount of effort in developing exclusive data and information. That knowledge is frequently the key to gaining a competitive position in the industry. Data loss due to threats or catastrophes can result in dissatisfied customers, lost income, and perhaps insolvency, thus the use of data recovery services drives the growth of the market during the forecast period.
The market for data recovery services has long been hindered by the absence of affordable software suites, which has prevented many businesses from using these data protection solutions. When deploying these Data recovery Services suites, businesses must also contend with issues including quick data generation, pricey compliances, maintenance of redundant hardware and software across many locations, and data manipulation. The growing demand for advanced data recovery software will provide lucrative opportunities for this market during the forecast period. An enormous number of PCs are now infected with viruses. As a result, a variety of efficient and practical technologies are emerging to shield these devices from virus assaults. All of these distinct qualities contribute to the market's rapid growth during the forecast period.
Data Recovery Services Market Report Highlight:
- By Type, the commercial segment is anticipated to lead the growth of the Data Recovery Services market in the forecasted timeframe. Commercial business heavily invests in advanced technologies to increase their overall productivity and efficiency. The pressure to increase revenue and remain competitive encourages large enterprises to incorporate innovative DRaaS solutions into their businesses. Furthermore, due to the affordability and high demand for advanced technologies in large organizations, they hold a higher market share than SMEs.
- By Application, the SSD segment is expected to have the highest share of the Data Recovery Services market over the projected period. The engineers have been providing cutting-edge solutions that allow them to successfully recover data from all types of failed data storage devices, including solid-state drives (SSDs). Current generation SSD controllers feature ever-evolving technologies like compression, de-duplication, and high-level encryption protocols. They protect the security of stored data and provide up to 100x greater data protection than leading enterprise hard disk drives (HDDs), thereby boosting segment growth.
- The North American region is expected to have the highest share of the Data Recovery Services market over the projected period. The presence of prominent key players, as well as an increase in technological advancement, are the main factors driving the development of the market in this region.
Key Industry Development:
- In March 2023, WeRecoverData, a leading data recovery company, successfully retrieved 178 GB of critical healthcare data from a Microsoft Surface Pro 6 laptop. The device suffered from accidental formatting and an overwritten BitLocker installation, resulting in the loss of 100 GB of important data. The client designated the recovery as high urgency due to the sensitive nature of the healthcare data.
- In November 2022, DriveSavers installed an X-ray system capable of real-time X-ray images as engineers use an automated stage to move the data storage. Until now, this technology has been used for inspection, failure analysis, and quality assurance for electronics. Data recovery is a new way to use this type of device.
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, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
