Data Recovery Software Industry Technology, Trends and Opportunities Forecasts to 2023

Market Highlights

A data recovery software is used to aid in the retrieval the corrupted, deleted, or inaccessible data from a device. This software is commonly used by IT professionals for the recovery of data from physical storage devices and cloud storage by accessing and referring the file structures. A data recovery process changes according to the storage device.

The global data recovery software market is expected to witness a 12% CAGR during the forecast period. Market Research Future (MRFR), in their analysis, has stated that the global data recovery software market is estimated to reach an approximate market valuation of USD 13 billion by 2022. There are various factors influencing the global data recovery market including the high dependency of organizations on cloud storage and a rise in the usage of computers and other storage devices. However, a high cost of deployment of such software is posing as a hindrance in market growth.

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Competitive Dashboard:

Some of the distinguished players present in the global data recovery software market include Oracle Corporation (U.S.), Dell Inc. (U.S.), IBM Corporation (U.S.), CA Technologies (U.S.), Microsoft Corporation (U.S.), Acronis International GmbH (Switzerland), Hewlett Packard Enterprise Development LP (U.S.), Commvault (U.S.), NetApp, Inc.(U.S.), and Veritas Technologies LLC (U.S.).

The MRFR report has also covered some key innovators in the data recovery software market. Some of these prominent innovators include Unitrends Inc. (U.S.), Actifio (U.S.), Altaro (U.S.), Veeam Software (Switzerland), Micro Focus International plc. (U.K), Infrascale Inc. (U.S.), StorageCraft Technology Corporation (U.S.), and Carbonite, Inc. (U.S.).

Segmentation:

The data recovery software market has been premeditated for different segments based on component, application, platforms, deployment, industry, and region. Based on components, the data recovery software market into services and software. The software is further segmented into data reduction, data retention, and data replication. The services segment is sub-segmented into managed and professional services.

Based on deployment, the global data recovery software market is segmented into on-cloud and on-premise. By application, the global data recovery software market is segmented into personal and commercial. Based on platform, the global data recovery software market is segmented into Windows, Linux, and Mac. Based on industry, the data recovery software market is segmented into healthcare, BFSI, retail, IT & telecommunications, and media & entertainment.

Regional Analysis:

The global data recovery software market is regionally segmented into North America, Asia Pacific, Europe, and Rest of the World. North America has dominated the global data recovery software market in the base year and is anticipated to retain its supremacy over the forecast period. Further, the presence of major players in the market and higher adoption of advanced technologies in recovery solutions are promoting the acceleration of the global data recovery software market over the forecast period. Apart from that, the availability of reliable backup and recovery software in the region is likely to foster growth in the regional data recovery software market.

Asia Pacific is expected to witness fast-paced ascension for data recovery software during the forecast period. Such growth can be attributed to the adoption of recovery software in different end-user industries such as IT and BFSI to backup and protect confidential and important data. Further, the augmentation of the start-up ecosystem in the region is pushing the global data recovery software market exponentially. Rising emergence of digitization has created a higher need for recovery and backup options in cases on inaccessibility and corruption of storage devices. This is contributing to the growth noted by Asia Pacific’s data recovery software market during the review period. Moreover, supportive government initiatives encouraging the adoption of digital solutions and a higher shift towards the same is likely to drive the regional data recovery software market to a great extent.

Industry Update

July 2019: SALVAGEDATA recently introduced a completely free data recovery software which facilitates the recovery of accidentally deleted files. Further, it also supports drives from all makers with NTFS, FAT and exFAT classification system.

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