Press release
Global Data Recovery Services Market Projected to Grow at 15.2% CAGR, Reaching $9.15 Billion by 2029
Data Recovery Services Market
Data Recovery Services Market Size Growth Forecast: What to Expect by 2025?
The market size for data recovery services has experienced swift expansion lately, increasing from $4.5 billion in 2024 to $5.2 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 15.8%. The growth during the historic period can be ascribed to factors such as rising cases of data breaches, the increasing uptake of cloud computing, escalating demand for data storage, strict data protection regulations, and the proliferation of digitalization.
How Will the Data Recovery Services Market Size Evolve and Grow by 2029?
Rapid expansion is anticipated in the data recovery services market size in the coming years, with projections to reach $9.15 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 15.2%. Factors contributing to this upwards trajectory during the forecasted period include escalating cyber threats, the emergence of IoT devices, increasing prevalence of ransomware attacks, expansion of big data analytics, the implementation of AI and machine learning in data recovery, and the internationalisation of businesses. Notable trends for the forecast period encompass an upsurge in remote data recovery services, the incorporation of blockchain technology in data recovery, a surge in hybrid cloud data recovery solution demand, broadening of data recovery services for mobile devices, and a focus on environmentally friendly data recovery practices.
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What Drivers Are Propelling the Growth of Data Recovery Services Market Forward?
The data recovery services market is poised for growth as the incidence of data breaches continues to rise. Unauthorized acquisition, exposure, or access to classified data, known as a data breach, jeopardizes its availability, integrity, and confidentiality. Factors such as the advancing complexity of cyberattacks, insufficient cybersecurity precautions, and the escalating digitization of sensitive data are responsible for the escalation in data breaches. Through data backup solutions, data recovery services proactively shield against such securities breaches, enabling organizations to smoothly recover data following a breach, thereby minimizing the severity and potential damages. The Identity Theft Resource Center (ITRC), a U.S. non-profit set up to reduce the uncertainty and lessen the aftermath of identity compromise, reported a hike in data breaches by 78% from 2022 and 72% from the highest record in 2021 to 3,205 in 2023, as per their statistics in January 2024. Therefore, the growing trend in data breaches is stimulating the expansion of the data recovery services market.
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Which Emerging Trends Are Transforming the Data Recovery Services Market in 2025?
Leading firms in the data recovery services market are leveraging strategic alliances to offer vital data protection services to private individuals, commercial entities, and governmental organizations. These alliances are based on the principle of mutual resource sharing to create reciprocal success and advantages. As an example, in July 2022, Mindtree Ltd., a global tech consultation and services firm based in India, entered into a strategic partnership with Rubrik Inc., an American firm specializing in data security and cloud data management. Their shared objective is to roll out Mindtree Vault, a comprehensive cyber-recovery platform. This platform merges Mindtree's proficiency in program management, cloud computing, data, and cybersecurity with Rubrik's prowess in data resilience, observability, and recovery. It also facilitates an in-depth recovery process, incorporating assessment, discovery, migration, ongoing management, and proof-of-concept pilots.
What Are the Key Segments in the Data Recovery Services Market?
The data recovery servicesmarket 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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Who Are the Key Players Shaping the Data Recovery Services Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in 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.
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