Personal Data Recovery Software Market Is Anticipated To Grow at a CAGR of 12.4% by 2030 - Report by Market Research Future (MRFR)

Increased Use of Paid Data Recovery Software to Boost Global Market Growth

/EIN News/ -- New York, US, Dec. 07, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Personal Data Recovery Software Market: Information by Pricing Type, Platform, and Region—Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 281.08 million by the end of 2021. The reports further predict the market to flourish at a robust CAGR of over 12.4% during the assessment timeframe.

Personal Data Recovery Software Market Key Players 

Eminent industry players profiled in the personal data recovery software market report include-

•  Oracle Corporation
• Hewlett Packard Enterprise Development LP
• Microsoft
• IBM Corporation
• Dell Inc.
• CleverFiles (Disk Drill Data Recovery)
• EaseUS
• DISKGENIUS (Eassos Ltd.)
• Stellar Data Recovery
• RECOVERIT Wondershare Technology Co.

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Personal Data Recovery Software Market Report Scope:

Report Metric	Details
Personal Data Recovery Software Market Revenue forecast in 2021	USD 281.08 million
Personal Data Recovery Software Market Growth Rate	CAGR of 12.4% from 2022 to 2030
Base Year	2021
Study Period	2022-2030
Key Market Opportunities	Offering advanced data recovery software
Key Market Drivers	Rising use of paid data recovery software by individuals • Increase in smartphone users

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Drivers 

Increased Use of Paid Data Recovery Software to Boost Market Growth 

Individuals are using more expensive data recovery software. Despite having a good rating for the most part, free data recovery software has some limitations. To obtain comprehensive coverage, people might need to upgrade to the paid version. The increased use of paid data recovery software will boost market growth in the forecast period. 

Opportunities 

Growing Demand for Advanced Data Recovery Software to offer Robust Opportunities 

The growing demand for advanced data recovery software will provide lucrative opportunities for this market during the forecast period. An enormous number of PCs are now infected with viruses. As a result, a variety of efficient and practical technologies are emerging to shield these devices from virus assaults.

Restraints and Challenges 

Accessibility of Free Data Recovery Software to act as Market Restraint 

The accessibility of free data recovery software may act as a market restraint in the forecast period. The largest users of free software solutions are micro businesses & individuals.

Personal Data Recovery Software Market Segmentation 

The global personal data recovery software has been bifurcated based on pricing type and platform. 

By pricing type, monthly segment will lead this market over the forecast period and will grow at a 12.9% CAGR. 

By platform, Windows will dominate the market over the forecast period. This can be primarily attributed to the vast majority of Windows users.

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COVID-19 Analysis 

The Personal Data Recovery Software Market saw significant growth as a result of the COVID-19 pandemic. The pandemic has made it extremely difficult for businesses all over the world to continue operating despite widespread closures of offices and other facilities as well as movement restrictions. Currently, remote access is used to access the IT infrastructure, which includes data centers, high-performance computing, cloud platforms, and digital devices. Businesses operating in the market must provide more sophisticated and effective data recovery solutions that successfully restore lost or deleted data for both individuals and businesses. Repairing truncated, corrupted, and damaged video files can be done with the aid of more advanced data recovery software. Software that is technically sophisticated differs significantly from conventional software in terms of functionality and efficiency.

Regional Analysis 

North America to Head Personal Data Recovery Software Market 

In 2021, North America grabbed the largest market share with 38.1% of the total. Due to the presence of major players in the region, the Personal Data Recovery Software Market in North America is anticipated to grow exponentially. The market for data recovery software is being driven by factors such as growing awareness of the perks of data recovery, a rise in the cyber-attack frequency, and an increase in the volume of data. To ensure business continuity, companies in the area are making significant investments in these solutions. Significant investments were made in these solutions because they eliminate complex IT silos, streamline operations, and cut costs while maintaining enterprise service level agreements (SLAs). The significant increase in data and the ongoing requirement for uninterrupted business operations are the main drivers of investments in personal data recovery software in the nation. Other market-expanding factors include technological advancements and the rising popularity of cloud computing. Canadian consumers have suffered a sizable loss in revenue as a result of data loss brought on by cyber-attacks or natural disasters. As a result, customers are moving away from conventional data recovery solutions and toward cutting-edge cloud-based alternatives that are more affordable and straightforward to use.

Europe to Have Admirable Growth in Personal Data Recovery Software Market 

During the forecast period, Europe is anticipated to experience a remarkable growth. Businesses have become more circumspect about their data recovery strategy since the GDPR framework went into effect throughout Europe. Conquering the ever-growing volumes of data is a top priority for consumers. As a result, they are spending money on backup and recovery options, which is propelling the market for personal data recovery software. The UK, France, Germany, and the rest of Europe are considered to be in Europe. The market for data recovery software is being driven forward by factors like growing awareness of the perks of data recovery, a rise in the cyber-attack frequency, and an increase in the volume of data. The demand for data recovery solutions has significantly increased in Germany, largely as a result of increased consumer activity to effectively protect and recover sensitive data and maintain business continuity. Consumers in the region are also adopting data recovery solutions more quickly as a result of factors like the exponential growth of data, the growing need for data security & privacy concerns, operational excellence & data quality management, & the increasing adoption of cloud data backup.

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APAC to Have Significant Growth in Personal Data Recovery Software Market 

In the assessment period, the Asia-Pacific personal data recovery software market will expand significantly. Due to the growing use of data backup and recovery software for commercial applications, it is a highly lucrative region for the personal data recovery software market. Regarding the expansion of the market for personal data recovery software in Asia-Pacific, Japan is one of the most significant nations. The rising importance and demand for personal data recovery services across the country is anticipated to be one of the key factors fueling the market's expansion. The market in Asia-Pacific is driven by major nations like China, India, and Japan. The market is anticipated to expand even more quickly as developing nations like China and India embrace digitalization.

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