How large is the data recovery services market, and what is its growth trajectory?
The data recovery services market size has grown rapidly in recent years. It will grow from $4.5 billion in 2024 to $5.23 billion in 2025 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to a increasing data breaches, growing adoption of cloud computing, rising demand for data storage, stringent data protection regulations, expansion of digitalization.
The data recovery services market size is expected to see rapid growth in the next few years. It will grow to $9.55 billion in 2029 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to increasing cyber threats, the emergence of IoT devices, rise in ransomware attacks, the growth of big data analytics, the adoption of AI and machine learning in data recovery, and the globalization of businesses. Major trends in the forecast period include the surge in remote data recovery services, integration of blockchain technology in data recovery, rise in demand for hybrid cloud data recovery solutions, expansion of data recovery services for mobile devices, and emphasis on green data recovery practices.
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Which major factors have contributed to the expansion of the data recovery services market?
The increase in the number of data breaches is expected to propel the growth of the data recovery services market going forward. A data breach is the unauthorized access, disclosure, or acquisition of sensitive information, potentially compromising its confidentiality, integrity, or availability. The increase in the number of data breaches can be attributed to factors such as the growing sophistication of cyberattacks, inadequate cybersecurity measures, and the increasing digitization of sensitive information. Data recovery services mitigate data breaches by offering proactive data backup solutions, ensuring that organizations can quickly recover data in the event of a breach, thereby reducing the impact and potential losses. For instance, in January 2024, according to the Identity Theft Resource Center (ITRC), a US-based non-profit organization established to minimize the risk and mitigate the impact of identity compromise, there were 3,205 recorded data breaches in 2023, up 78% from 2022 and 72% from the previous peak in 2021 in the United States. Therefore, the increase in data breaches is driving the growth of the data recovery services market.
How is the data recovery services market segmented?
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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Who are the top competitors in the data recovery services market?
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
Which key trends are expected to influence the data recovery services market in the coming years?
Major companies operating in the data recovery services market are adopting a strategic partnership approach to provide essential data security services to individuals, businesses, and governments. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in July 2022, Mindtree Ltd., an India-based global technology consulting and services company, partnered with Rubrik Inc., a US-based company specializes in cloud data management and data security. With this partnership, they aim to launch Mindtree Vault, a unified cyber-recovery platform. The platform integrates Mindtree’s expertise in program management, cloud computing, data, and cybersecurity with Rubrik’s strength in data resilience, observability, and recovery. It supports comprehensive recovery processes, including assessment, discovery, migration, ongoing management and proof-of-concept pilots.
Which regional trends are influencing the data recovery services market, and which area dominates the industry?
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 Does The Data Recovery Services Market Report 2025 Offer?
The data recovery services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Data recovery services refer to professional services that specialize in retrieving lost, corrupted, deleted, or inaccessible data from various storage devices. These services employ advanced techniques and tools to recover data from logical (software-related) and physical (hardware-related) failures.
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