Press release
Strong Growth Ahead: Data Recovery Services Market Size To Grow At Arecord 16.2% Cagr By 2029
Data Recovery Services
How Big Is the Data Recovery Services Market Size Expected to Be by 2034?
The data recovery services market has grown rapidly in recent years. It will grow from $4.5 billion in 2024 to $5.23 billion in 2025, at a CAGR of 16.4%. The growth is attributed to the increasing number of data breaches, growing adoption of cloud computing, rising demand for data storage, stricter data protection regulations, and the expansion of digitalization.
The data recovery services market is expected to experience rapid growth, reaching $9.55 billion by 2029, at a CAGR of 16.2%. This growth is driven by increasing cyber threats, IoT device adoption, ransomware attacks, and the rise of big data analytics. Key trends include the surge in remote data recovery, blockchain integration, and green data recovery practices.
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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Data Recovery Services Market Trends?
The increase in data breaches is expected to drive the data recovery services market. Data breaches occur when sensitive information is accessed or disclosed without authorization, and are becoming more frequent due to cyberattacks and digitalization. Data recovery services help mitigate the impact of breaches by providing backup solutions to restore lost data quickly. For example, the Identity Theft Resource Center reported 3,205 data breaches in the US in 2023, a 78% increase from 2022. This growing incidence of breaches is fueling demand for data recovery services.
Who Are the Top Competitors in Key Data Recovery Services Market Segments?
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 Trends Are Expected to Dominate the Data Recovery Services Market in the Next 5 Years?
Companies in the data recovery services market are increasingly forming strategic partnerships to provide critical data security services. For instance, in July 2022, Mindtree teamed up with Rubrik to launch Mindtree Vault, a unified cyber-recovery platform that combines both companies' strengths to support data recovery processes, including assessment, migration, and ongoing management.
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Which Regions Are Becoming Hubs for Data Recovery Services Market Innovation?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data Recovery Services Market?
2. What is the CAGR expected in the Data Recovery Services Market?
3. What Are the Key Innovations Transforming the Data Recovery Services Industry?
4. Which Region Is Leading the Data Recovery Services Market?
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