Data recovery software, a comprehensive solution for back-up as well as retrieval of all vital data which is lost through accidental deletion, drive crash, or a malware attack. Businesses & enterprises, across the globe, are growing and increasing in numbers and so the amount of data they generate is increasing minute by minute. In today’s competitive business world, loss of data is termed as unfortunate and fatal.
Hence, it is crucial for the business to implement data recovery software in their systems that can create duplicate data on various servers to safeguard business continuity in case of natural or man-made disasters. As a result, the uptake of data recovery software is proliferating. Moreover, the proliferation of cloud-based platforms is another key factor escalating the market growth on the global platform.
According to Market Research Future (MRFR), the global data recovery software market is estimated to reach USD 13 BN by 2023, registering a 12% CAGR through the forecast period (2017-2023). Increasing usages of the Internet and smart connected devices are fostering the market growth by generating the data.
On the other hand, the high deployment costs of this software are acting as major headwind restricting the growth of the market. Nevertheless, rising uptake of the software across the growing number of enterprises and households would support the growth of the market.
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For a better understanding of the report, the market is segmented into six key dynamics:
By Component: Software (Data Replication, Data Reduction, Data Retention, and others) and Service (Professional and Managed Services).
By Deployment: On-premise and On-cloud.
By Application: Commercial and Personal.
By Platform: Windows, Linux, and Mac, among others.
By Industry: BFSI, Healthcare, Retail, Media & Entertainment, and IT & Telecommunications, among many others.
By Region: Asia Pacific, North America, Europe, and Rest-of-the-World.
Global Data Recovery Software Market – Regional Analysis
The North American region leads the global data recovery software market. Wide uptake and advancements of technology are key driving forces. Attributing to the increasing investments transpired in the cloud-based solutions; the region would retain its dominance throughout the forecast period. The presence of many notable players in the region and advances in recovery solutions are supporting the growth of the market. Simultaneously, the demand for reliable back-up and recovery software are supporting the market growth in the region.
The Europe data recovery software market stands second in the global space. The growing number of businesses and the advancements in technology are some of the trends likely to continue to support the region to create a substantial revenue pocket in the next six years. Countries such as the UK, Germany, France, and Italy would continue to contribute to the regional market growth.
The data recovery software market in the Asia Pacific region is emerging as the fastest growing market, globally. The region is expected to account for a substantial market share in the next six years. The Adoption of recovery software in sectors like BFSI and IT to back-up and protect their important data is a primary factor driving the growth of the regional market.
Improving economic conditions in the region has spurted the industrialization in the rapidly advancing countries such as China, Japan, and India, which is fuelling the growth in the regional market. Moreover, the increasing numbers of start-ups in the region contribute to the growth of the market, resulting in the addition of data, thereby requiring back-up facilities.
Global Data Recovery Software Market- Competitive Analysis
The embryonic data recovery software market appears to be fiercely competitive and fragmented with the presence of several large and small players.
To gain a competitive edge and a substantial share in the market, these players churn the competition adopting strategies such as collaboration, acquisition, product/ technology launch, and expansion.
Players leading the global data recovery software market include IBM Corporation (US), Oracle Corporation (US), Dell Inc. (US), Hewlett Packard Enterprise Development LP (US), CA Technologies (US), Microsoft Corporation (US), Veritas Technologies LLC (US), Commvault (US), NetApp, Inc. (US), Unitrends Inc. (US), Acronis International GmbH (Switzerland, Veeam Software (Switzerland), Altaro (US), Actifio (US), Micro Focus International plc. (UK), Infrascale Inc. (US), StorageCraft Technology Corporation (US), and Carbonite, Inc. (US), among others.
Industry/Innovation/ Related News:
June 20, 2019 — iBoysoft (the U.K.), an innovative data recovery software developer, announced the update for its branded product, iBoysoft Data Recovery for Mac, to better help users recover deleted files from trash, hard drives, external hard drives, SD cards, USB flash drives on Mac more easily and efficiently.
iBoysoft provides reliable Windows/Mac data recovery, NTFS for Mac, Mac Drive Manager, and File Protector for Windows software. The recently optimized the deleted file recovery feature of iBoysoft Data Recovery for Mac is one of the best data recovery software, offering a better user experience in deleted file recovery.
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