Global Data Recovery Market, By Component (Software and Services), Application (Media Storage Backup, Application Backup and Email Backup), Deployment Type (Cloud and On-Premise), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), Industry Vertical (Government and Defense, Banking, Financial Services and Insurance, Manufacturing, Healthcare, Media and Entertainment, Retail, Telecom and IT, Education and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Surge in the rate of penetration of internet especially in the developing economies, growing focus on improving organizational performance and operational efficiency and rising adoption of cloud services by the small and medium scale enterprises are the major factors attributable to the growth of the data recovery market. Data Bridge Market Research analyses that the data recovery market will exhibit a CAGR of 10.56% for the forecast period of 2022-2029. Therefore, the data recovery market value, which was USD 3,145.21 million in 2020, would stand tall by USD 7,763.04 million by 2029.
From the name itself, it is clear that data recovery refers to a set of solutions, systems and software that enables the organizations to back up the organizational information and restore it in case of any inconvenience or unwanted accidents such as loss of data due to virus or system malfunction. Data recovery process reduces the cumbersome and tedious tasks in any organization.
Rising deployment by the defense industry for a wide range of applications will emerge as the major market growth driving factor. Surging volume of data generated by the organizations on daily basis, growing number of small and medium scale enterprises especially in the developing economies, rising demand and need for the security and reliability by the various industry verticals and strengthening IT industry in developing economies such as India and China will further aggravate the growth of the market. Rising deployment of cloud services, surging digital advancements such as block chain solutions for restoring or retrieving data and growth in the demand from banking, financial services, and insurance (BFSI) are some other factors bolstering the growth of the market.
However, lack of skilled workforce and technological expertise in underdeveloped and developing economies will act as a growth restraint for the market. Also, rising penetration of data silos and high deployment costs of software will yet again hamper the market growth rate. Lack of strong infrastructural facilities in the backward economies and complexities involved in recovering a data from a cyber-attack will also challenge the market growth rate.
This data recovery market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on data recovery market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Data Recovery Market Scope and Market Size
The data recovery market is segmented on the basis of component, application, deployment type, organization size and industry vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of component, the data recovery market is segmented into software and services. Software segment is sub-segmented into data replication, data reduction, and data retention. Services segment is sub-segmented into professional services and managed services.
- Based on application, the data recovery market is segmented into media storage backup, application backup and email backup.
- Based on deployment type, the data recovery market is segmented into cloud and on-premise.
- Based on organization size, the data recovery market is segmented into small and medium-sized enterprises and large enterprises.
- The data recovery market is segmented on the basis of industry vertical into government and defense, banking, financial services and insurance, manufacturing, healthcare, media and entertainment, retail, telecom and IT, education and others.
Data Recovery Market Country Level Analysis
The data recovery market is analysed and market size, volume information is provided by country, component, application, deployment type, organization size and industry vertical as referenced above.
The countries covered in the data recovery market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the data recovery market and will continue to flourish its trend of dominance during the forecast period owing to the prevalence of advanced IT infrastructure and high adoption for cloud services among various industries in countries in the region. Asia-Pacific will continue to undergo substantial gains during the forecast period and will score the highest CAGR. This is because of the increasing awareness among the organizations especially among healthcare, telecommunications and information technology verticals.
The country section of the data recovery market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Data Recovery Market Share Analysis
The data recovery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to data recovery market.
Some of the major players operating in the data recovery market Druva Inc., StorageCraft Technology, LLC., Code42 Software, Inc., Commvault, Dell Inc., IBM, Veeam Software, Rubrik, Cohesity, Inc., Zerto Ltd., VMware, Inc., Veritas Technologies, LLC, Broadcom, Microsoft, Hewlett Packard Enterprise Development LP, Oracle, NetApp, Acronis International GmbH., Amazon Web Services, Inc., and Unitrends among others.