Data Recovery Software Market – Overview
Data recovery is the process of recovering data from the storage devices which is lost due to deleting or file corruption or hacking. The data loss can be due to logical failure or physical failure. In the case of logical failure, the files cannot be accessed even though they are visible in disk manager. This type of data can be recovered easily by restoring the device functions. Whereas, in the case of physical failure, the storage device gets damaged permanently, in which only the data can be restored through data replication.
In February 2016, Hewlett Packard Enterprise, a global service provider of IT and technology solutions, acquired Trilead, a Switzerland based software company. The company is specialized in backup and recovery services that help to virtually recover the data. The acquisition helped HPE by enhancing their current back-up and recovery services by increasing the storage capacity of data virtually through Trilead’s different versions of the software.
The growing inclination of organizations towards cloud-based services and rising awareness of data recovery solutions are the major factors responsible for the global data recovery software market growth. Major industries such as retail, healthcare, and BFSI are moving towards the adoption of data recovery techniques which benefits in operational efficiency and data resiliency.
According to MRFR, the Global Data Recovery Software Market is estimated to reach USD 13 billion at CAGR 12% through the forecast period 2023.
Some of the major players in the global data recovery software market are Oracle Corporation (U.S.), IBM Corporation (U.S.), Dell Inc. (U.S.), CA Technologies (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Microsoft Corporation (U.S.), Commvault (U.S.), Veritas Technologies LLC (U.S.), NetApp, Inc.(U.S.), Acronis International GmbH (Switzerland) and others.
Some of the key innovators are Unitrends Inc. (U.S.), Veeam Software (Switzerland), Actifio (U.S.), Altaro (U.S.), Micro Focus International plc. (U.K), StorageCraft Technology Corporation (U.S.), Infrascale Inc. (U.S.), Carbonite, Inc. (U.S.) and others.
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The global data recovery software market is segmented into component, deployment, application, platform, industry, and region. On the basis of the component, the market is further classified into software and services. The software can be further segmented into data replication, data reduction, and data retention. Data replication involves the copying of data in from a computer to a distributed database which can be retrieved later. Data reduction is the process of reducing the amount of data that is being stored in the database. The data reduction uses different technologies like data deduplication and data compression, archiving data and others. The data deduplication removes the duplicate data present in the database thereby creating more space for storage and blocks for further modifications by unauthorized user. Data compression helps in reducing the size of a file by running algorithms to eliminate redundant data.
On the basis of the platform, the market is segmented into windows, Linux, Mac, and others. Among these, the windows are expected to hold major market share during the forecast period. The deployment of data recovery software in the cloud encourages the enterprises, to adopt flexible pricing on pay per usage basis. The demand for reliable data recovery solutions is influencing the digital transformation across several verticals of the organization. The adoption of cloud provides an opportunity for market growth. Since data recovery software is built on the open platform; there is intense competition among the providers which would be a major challenge for the global data recovery software market.
By geography, the market is studied in North America, Europe, Asia Pacific and rest of the world. Among these regions, the market is majorly dominated by North Ameica at present due to a higher concentration of data recovery software companies in countries like the U.S. and Canada. Due to this, major contribution is made by the U.S., particularly in the developing and implementation of data recovery software.
On the other hand, Europe is expected to show a decent growth considering data recovery software market. Europe has acquired a second place in the market. However, the Asia Pacific region is expected to show a major growth rate through the forecast period. Various oragnizations are adopting cloud-based services in Taiwan, China, and India, which is increasing demand for data recovery software market. Also, the data recovery software in Asia Pacific is booming which is affecting the growth of the market in Asia Pacific.
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- Data backup and recovery solution providers
- System integrators
- Consultancy firms
- Managed service providers
- Data security providers
- Government Agencies
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