Press release
Data Recovery Services Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Data Recovery Services Market Growth
The market size of data recovery services has seen a swift expansion in the past few years. Projected to rise from a worth of $4.5 billion in 2024 to $5.23 billion in 2025, it is expected to experience a compound annual growth rate (CAGR) of 16.4%. The historical growth has been fueled by factors including rising incidents of data breaches, increased embracement of cloud computing, growing necessity for data storage, strict regulations concerning data protection, and the broadening expanse of digitalization.
Anticipations are high for the data recovery services market to witness a significant surge in its size in the coming years. The market is predicted to expand to a whopping $9.55 billion by the year 2029, demonstrating a compound annual growth rate (CAGR) of 16.2%. Various factors contributing to this projected growth during the anticipated period include enhanced cyber threats, an ever-increasing array of IoT devices, a surge in ransomware attacks, the progression of big data analytics, the implementation of AI and machine learning in the realm of data recovery, and business globalization. Future trends for this period are expected to include a boost in the demand for remote data recovery services, the incorporation of blockchain technology within data recovery processes, an escalation in the requirement for hybrid cloud data recovery solutions, extending data recovery services to mobile devices, and a renewed focus on sustainable data recovery practices.
What Key Elements Are Boosting Growth in the Data Recovery Services Market?
The surge in data breach incidents is anticipated to be a significant factor propelling the expansion of the data recovery services market. An unauthorized access, exposure, or acquisition of classified information, marking a potential threat to its confidentiality, integrity, or accessibility, is termed as a data breach. The escalation in such breaches can be ascribed to elements like the advanced nature of cyber threats, insufficient cybersecurity provisions, and the enhanced digitization of sensitive information. Data recovery services help contain these breaches by providing proactive data backup options, thus enabling organizations to recuperate their data swiftly after a breach, further reducing its impact and potential losses. As an example, the Identity Theft Resource Center (ITRC), an American non-profit entity established to reduce the risk and alleviate the impact of identity compromise, reported in January 2024 that there were 3,205 documented data breaches in 2023. This was an increase of 78% from 2022 and 72% from the earlier peak in 2021 in the United States. Consequently, the surge in data breaches is propelling the growth of the data recovery services market.
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Who Are the Dominant Companies Influencing Data Recovery Services Market Trends?
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
How Is the Data Recovery Services Market Evolving?
Top firms in the data recovery services market are utilising a strategic partnership model to deliver vital data security services to individuals, commercial enterprises, and government bodies. Strategic partnerships involve companies making use of each other's strong points and resources for mutual advantage and success. For example, in July 2022, Mindtree Ltd., a global technology consulting and services firm based in India, entered into a partnership with Rubrik Inc., a US company that specializes in cloud data management and data security. This partnership intends to unveil Mindtree Vault, a consolidated cyber-recovery platform. This platform combines the expertise of Mindtree in areas like program management, cloud technology, data, and cybersecurity, with Rubrik's capabilities in data resilience, observability, and recovery. It caters to all aspects of recovery processes, such as assessment, discovery, migration, ongoing management, and proof-of-concept pilots.
What Are the Different Segmentations in the Data Recovery Services Market?
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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Which Region Is at the Forefront of 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.
What Is Covered In The Data Recovery Services Global Market Report?
- Market Size Analysis: Analyze the Data Recovery Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Data Recovery Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Data Recovery Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Data Recovery Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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