Personal Data Recovery Software Market Size was valued at USD 0.3 Billion in 2022. The Personal Data Recovery Software market industry is projected to grow from USD 0.33 Billion in 2023 to USD 0.85 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 12.40% during the forecast period (2023 - 2032).Increased risk of security breaches, competitive advantages related to data backup and recovery, and rising adoption in the BFSI section are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for personal data recovery software is being driven by the rising risk of security breaches. The progress in technology and digitalization has increased the need for effective data backup and recovery. The increasing data volume in modern business increases the potential for security breaches. This indication of data breaches for corporations is growing and serious in the present years. The banking section is more prone to data breaches as the databases of the bank consist of the personal data of the customers.
The exposure of Infrastructure as a Service (IaaS), among others, is boosting market growth. The on-demand cloud providers, demand for big data and social networking, increasing adoption of smart devices and tablets, and others are the trend growing the cloud backup and recovery software market. These reasons result in the generation of large amounts of data, creating a requirement for backups and recovery systems. There is fast growth in the banking industry due to the adoption of digital banking and investment solutions; with this, the demand for cloud computing in the BFSI industry is growing as they provide better solutions for business agility and scalability to the companies in the industry. There is a shift to cloud solutions by the various financial service organizations for providing innovations, customization, and security. This is generating demand for cloud backup and recovery software in the BFSI section, causing growth in the adoption of the solutions.
The backup and recovery produce and keep data copies that can be utilized to safeguard businesses from data loss. Recovery from a backup mainly necessitates returning data to its previous position or another where it may be used rather than missing data. Thus, in order to protect against the loss of data because of main hardware or software failure, a better backup duplicate is provided in various systems or media. Businesses invest a large amount of effort in developing exclusive data and information; this knowledge is the key to gaining a competitive position in the industry. The threats and catastrophes causing data loss can result in dissatisfied customers, perhaps insolvency, and lost income. There are advantages provided by the backup software for backing up data that can save time and assist in maintaining a competitive edge while facing data loss and problems. Thus, driving the Personal Data Recovery Software market revenue.
The issue with storage management and securing backups hampers the market growth as many organization leaves their database unencrypted due to the complexity of the procedure, which can corrupt the data and generate the requirement for additional software licenses. Further, the growing number of backups leads to more challenges for storage management.
The Personal Data Recovery Software market segmentation, based on organization size, includes SMEs and Large Enterprises. The large enterprise segment dominates the market, accounting for the largest market revenue due to the increasing investments in data backups and recovery solutions by large organizations. A large amount of data having important information are generated and captured by large enterprises. Thus, there is a requirement to create a backup and secure their data from any cyber attacks or accidental data deletion.
The Personal Data Recovery Software market segmentation, based on deployment type, includes On-Premises and Cloud. The cloud segment dominates the market because of the increased adoption of cloud services in organizations as they provide improved security, enhanced compliance, increased scalability, and cost-effective features. Cloud backup is a system that backs up and stores apps and data on different servers. The flexible storage facility and rapid data recovery make it more famous among users and are anticipated to boost the market.
Figure 1: Personal Data Recovery Software Market, by Deployment Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Personal Data Recovery Software market dominates the market owing to the availability of major market players in this region. The rising trend of big data in the region generates a large amount of data that are needed for backup, recovery, and storage.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: PERSONAL DATA RECOVERY SOFTWARE MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Personal Data Recovery Software market accounts for the second-largest market revenue due to the increasing demand for data backup and recovery solutions from the various regional organizations. Further, the German Personal Data Recovery Software market held the largest market revenue, and the UK Personal Data Recovery Software market was the fastest-growing market in the European region.
The Asia-Pacific Personal Data Recovery Software Market is expected to grow at the rapid CAGR from 2023 to 2032. This is due to the adoption of new technologies that generate an abundance of opportunities for the market and the growing adoption of the system in different sections of the industry. Moreover, China’s Personal Data Recovery Software market held the largest market share, and the Indian Personal Data Recovery Software market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to spread their product lines, which will help the Personal Data Recovery Software market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Personal Data Recovery Software industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Personal Data Recovery Software industry to benefit clients and increase the market sector. In recent years, the Personal Data Recovery Software industry has offered some of the most significant advantages to the data management sector. Major players in the Personal Data Recovery Software market, including IBM Corporation, Oracle Cloud Inc., Acronis International GmbH, Datto Inc., Veritas Technologies LLC, Dell Technologies, Redstor Limited, Carbonite Inc., CommVault Systems Inc., Rackspace LLC., others, are attempting to increase market demand by investing in research and development operations.
IBM is a multinational technology company which is headquartered in Armonk, New York. It was founded as the Computing-Tabulating-Recording Company in the year 1911 and was later renamed IBM in 1924. IBM is one of the biggest IT companies ly, operating in more than 170 countries. The company specializes in computer middleware, software, and hardware and offers consulting services and hosting in areas ranging from mainframe computers to nanotechnology. It is the largest industrial research organization that has 19 research facilities throughout the country. In April 2022, z16 was introduced by IBM, which is an AI-accelerated, quantum-safe mainframe calculated for a hybrid cloud environment and consists of an on-chip AI accelerator. This helps the enterprise workload to analyze the real-time transactions at scale, helping the business to detect fraudulent transactions. The z16 also employs lattice-based cryptography to protect the data and systems from future threats.
Oracle Cloud Infrastructure offers a flexible data platform to build Big Data applications at a large scale by ingesting any type of data in a wide range of data formats along with native tools for Oracle database; the OCI Data Integration service or the Kafka Connector helps in OCI streaming. Oracle cloud infrastructure optimizes the user's cloud infrastructure capabilities with a multi-cloud configuration from OCI. In April 2022, the company announced that NTT Docomo Inc., a Japan-based mobile operator, adopted Oracle Cloud Infrastructure (OCI) to develop a novel Docomo infrastructure systems development environment. Docomo will gain access to largely available and secure computational resources with the inclusion of OCI, as they aim to spread into wider internet, telecoms, and smart living services.
IBM Corporation
Oracle Cloud Inc.
Acronis International GmbH
Datto Inc.
Veritas Technologies LLC
Redstor Limited
Carbonite Inc.
CommVault Systems Inc.
Rackspace LLC
September 2020: The Acronis Cyber Cloud platform was launched by Acronis, which will provide a comprehensive suite of cyber protection solutions, including backup & recovery, ransomware protection, secure file sync & share, and disaster recovery. This platform will help service provider to offer low-cost solutions.
April 2020: The launch of the new Datto Autotask Endpoint Backup product was launched by Datto Inc. The product is developed to offer automated endpoint backup for organizations by using Autotask Workplace. This product provides a continuous successive backup to ensure all the file versions are backed up.
February 2016: the acquisition of Trilead was completed by HPE, which provides backup solutions mainly for virtualized environments. The new software is available in three versions: the Pro edition, Free edition backups, and Enterprise edition.
SME
Large Enterprises
On-Premises
Cloud
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.3 Billion |
| Market Size 2023 | USD 0.33 Billion |
| Market Size 2032 | USD 0.85 Billion |
| Compound Annual Growth Rate (CAGR) | 12.40% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Organization Size, Deployment Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | IBM Corporation, Oracle Cloud Inc., Acronis International GmbH, Datto Inc., Veritas Technologies LLC, Dell Technologies, Redstor Limited, Carbonite Inc., CommVault Systems Inc., Rackspace LLC Â |
| Key Market Opportunities | Demand for modern and advanced data recovery software. |
| Key Market Dynamics | Increased security breaches risk. |
Personal Data Recovery Software Market Highlights:
Frequently Asked Questions (FAQ) :
The Personal Data Recovery Software market size was valued at USD 0.3 Billion in 2022.
The market is foreseen to grow at a CAGR of 12.40% during the forecast period, 2023-2032.
North America had largest share of the market
The key players in market are IBM Corporation, Oracle Cloud Inc., Acronis International GmbH, Datto Inc., Veritas Technologies LLC, Dell Technologies, Redstor Limited, Carbonite Inc., CommVault Systems Inc., and Rackspace LLC.
The large enterprises category dominated the market in 2022.
The cloud had the largest share of the market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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