ID: MRFR/ICT/4284-HCR | February 2021 | Region: Global | 100 pages
The global data recovery software market size is predicted to grow at a significant CAGR of 12% during the forecast period 2017-2023.
A data recovery software is one type of software that retrieves the deleted, corrupted, or inaccessible data from a stored device. This software is highly preferable by IT professionals to recover the data by referring and accessing the file structures from physical storage devices and cloud storage. Based on the data stored device, the data recovery process varies. For example, in hardware devices, the files can be restored within the device itself, on the other side, the server’s data involves a set of complex processes. When the files are lost due to disk failures, this software can backup and recover the lost data and also control this type of fault.
Most of the companies are providing backup as a service model to commercial customers. This recovery process creates duplicate data on various servers for the protection of business continuity in case of natural or man-made disasters. However, this software offers data backup, integrity, and security for the data that backups and also enable this data from a host device to the destination device to backup securely, quickly, and reliably. Moreover, this software offers access to restart applications and protects the digital property in the situation of corrupted data, hard drive crashes, or accidentally deleted important files.
In December 2017, the COVID-19 virus started spreading all over the world. The World Health Organization declares it as a public health emergency and also states that people should follow the government's rules and regulations strictly. Due to the COVID-19 outbreak, various aspects have been affected like indoor events restricted, restaurants closed, manufacturing industries shut down, offices closed, flight cancellations, travel bans, quarantines, supply chain disruptions, stock market volatility, rising corona cases, and uncertainty about future.
Even though the first quarter of 2020 negatively affected the data recovery software business. Most governments are implemented lockdowns to curb the spread of the virus. The data recovery software market company was drastically affected by the pandemic. Further, several enterprises start working from home for their employees to maintain social distance and avoid the spread of viruses. Due to this process, usage of computers and storage devices is increased which requires backup software. Hence the data recovery software market is positively impacted.
Most of the organizations depending on cloud storage devices are the major factor driving the data recovery software market growth. Increasing the usage of computers and other storage devices in enterprises, and households are accelerating the growth of the global market. The wide usage of smartphones and the internet is also propelling market growth. Moreover, rising risks of security breaches along with the growing trend towards digitalization are boosting the growth of the market.
Data recovery software deployment costs are very expensive which is hindering the market growth. Lack of knowledge among the small and medium enterprises regarding the benefits of the data recovery software is limiting the growth of the market.
The latest trends like Virtual Data Replication, Zerto Virtual Replication, Zerto Cloud Continuity Platform are the major opportunities that escalate the market growth.
The introduction of innovative technologies like disk backup, server virtualization, and cloud services which are mostly used by emerging players is the major challenge to the growth of the market.
The global data recovery software market analysis has been divided into six segments such as deployment, platform, component, application, industry, and region.
By deployment, the data recovery software (DRS) market is bifurcated into on-cloud and on-premise. Out of them, the on-premise segment is holding the largest market share of 83% in 2018.
The data recovery software platform is classified into various types such as Windows, Linux, Mac, and others.
By Component, the DRS market is segmented into two types as software and services. Further, the software is sub-segmented into data replication, data reduction, and data retention. Also, the services are sub-segmented into two forms as professional and managed services.
The data recovery software applications are bifurcated into commercial and personal. Among them, the commercial segment dominates the largest market share.
Based on Industry, the data recovery software market segments into various industries like healthcare, BFSI, retail, media & entertainment, IT & Telecommunications, and many others.
Region-wise, the global data recovery software market is classified into four main geographies like North America, Asia-Pacific, Europe, and the Rest of the World. Among them, North America is dominating the largest market share due to the presence of major key players and the adoption of advanced technologies.
Geographically, the data recovery software market is divided into four major regions like Asia-Pacific, North America, Europe, and the Rest of the World. Out of these regions, North America holds the highest data recovery software market share due to the presence of major key players and the adoption of advanced technologies in recovery solutions. Apart from, easy availability of reliable backup and recovery software is boosting the market growth in this region. Due to the adoption of recovery software in various sectors like BFSI and IT for protecting their important data and to backup, Asia-Pacific is predicted to grow at a significant rate during the forecast period. Moreover, increasing the number of several start-ups leads to additional data which requires backup facilities is accelerating the growth of the market.
The prominent key players in the data recovery software market outlook are the following:
In February 2016, one of the leading service providers of IT and technology solutions companies, Hewlett Packard Enterprise acquired a Switzerland-based software company named Trilead. Hewlett is popular for backup and recovery services which helps in recovering the data. Trilead increases the storage capacity of data virtually through different versions of the software which is very helpful to HPE to enhance the current backup and recovery services.
This global data recovery software market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the data recovery software market drivers, restraints, challenges, and opportunities. The data recovery software market forecast segments into six forms as deployment, platform, component, application, industry, and region.
The data recovery software market trends have been segmented into six forms globally based on the deployment, platform, component, application, industry, and region.
On-cloud and on-premise are the two deployments of the market.
Windows, Linux, Mac, and others are a few platform types.
Software and services are the two components of the market.
Commercial and personal are the two applications.
Healthcare, BFSI, retail, media & entertainment, IT & Telecommunications, and many others are the various industries.
Asia-Pacific, Europe, North America, and the Rest of the World are the four main geographies included in the global data recovery market.
Frequently Asked Questions (FAQ) :
The data recovery software market is estimated to gain a growth rate of 12% in the following years.
The market size by the end of the evaluation period can be USD 3 billion.
Dell Inc. (U.S.), NetApp, Inc.(U.S.), CA Technologies (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Microsoft Corporation (U.S.), Acronis International GmbH (Switzerland), Veritas Technologies LLC (U.S.), Commvault (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), are the top growth-impactors in the global market.
Increasing use of computers and various other storage devices among households and enterprises, along with the surge in technological advancements are backing the market growth across the globe.
The latest trends in the data recovery software market include Virtual Data Replication, Zerto Virtual Replication, Zerto Cloud Continuity Platform among others.