Data Recovery Software Market Segmentation by Deployment (On-Premise, Cloud, and Hybrid); by Application (Personal, and Commercial); and by Industry (IT & Telecommunication, BFSI, Media & Entertainment, Healthcare, Retail, and Others)-Global Demand Analysis & Opportunity Outlook 2031
21 Oct 2022
ICT & Telecom
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Global Data Recovery Software Market Highlights Over 2022 - 2031
The global data recovery software market is estimated to grow at ~12% CAGR over the forecast period, i.e., 2022 – 2031. Moreover, the market registered a notable revenue in the year 2021. The growth of the market can be attributed to the increase in the total volume of global data and the rise in the digital form of data. Moreover, countries across the globe are utilizing data in order to increase their trade. As per the World Bank, the current database includes over 5,000 products with over 1 billion rows of data. Furthermore, this important data needs to be protected from being deleted or corrupted. Therefore, data recovery software helps to recover lost data by creating a duplicate copy of the data.
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The global data recovery software market is segmented by deployment into on-premise, cloud, and hybrid. Out of these, the cloud segment is anticipated to hold the largest share in the global data recovery software market over the forecast period owing to the dependence of a large number of organizations on cloud-based infrastructure. Furthermore, organizations are shifting from traditional infrastructure to cloud-based infrastructure for storing their data, which is also expected to contribute to the growth of the segment during the forecast period.
Global Data Recovery Software Market Regional Synopsis
Regionally, the global data recovery software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in North America region is anticipated to witness noteworthy growth over the forecast period on the back of the presence of major players in data recovery software and an increase in the percentage of the digital economy. As per the U.S. Bureau of Economic Analysis, the total U.S digital economy was recorded to be 10.2 % of the U.S. GDP or USD 2.1 trillion in 2020. Therefore, the digital economy contributes to the storage of data in digital form, and data recovery software is required to protect digital data from being deleted.
Our in-depth analysis of the global data recovery software market includes the following segments:
IT & Telecommunication
Media & Entertainment
Growth Drivers and Challenges Impacting the Growth of the Global Data Recovery Software Market
Increase in the total volume of data
Rise in the digital form of data
High price of data recovery software
Lack of awareness related to data recovery software
Key Companies Dominating the Global Data Recovery Software Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global data recovery software market that are included in our report are IBM Corporation, NetApp, Inc., Microsoft Corporation, Oracle Corporation, Veritas Technologies LLC, Hewlett Packard Enterprise Company, Acronis International GmbH, Commvault Systems, Inc., Dell Inc., S.C. SOFTLAND S.R.L., and others.
Latest Developments in the Global Data Recovery Software Market:
10 June 2020: Hewlett Packard Enterprise Company announced an enhancement to HPE Nimble Storage and HPE Primera San Jose, including an AI-driven, self-healing, and self-optimized system that provides real-time autonomous operations.
8 September 2021: Commvault Systems, Inc., announced new ransomware services to assist businesses in preparing for, protecting against, and responding to today's growing cyber threats.
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Increase in the total volume of data and rise in the digital form of data are the major factors driving the growth of the data recovery software market.
The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2022-2031.
High cost of the software and lack of awareness related to the availability of the product are estimated to hamper the market growth.
Which region will provide more business opportunities for growth of data recovery software market in future?
North America region will provide more business opportunities for growth of data recovery software market in future.
The major players in the market are IBM Corporation, NetApp, Inc.’s, Microsoft Corporation, Oracle Corporation, Veritas Technologies LLC, Hewlett Packard Enterprise Company, Acronis International GmbH, Commvault Systems, Inc., Dell Inc., S.C. SOFTLAND S.R.L., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by deployment, application, industry, and by region.
Which segment captures the largest market size in deployment segment in the data recovery software market?
The cloud segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
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- IBM Corporation
- NetApp, Inc.
- Microsoft Corporation
- Oracle Corporation
- Veritas Technologies LLC
- Hewlett Packard Enterprise Company
- Acronis International GmbH
- Commvault SystemsInc.
- Dell Inc.
- S.C. SOFTLAND S.R.L