In a recent published report, Kenneth Research has updated the market report for Wearable Security Device Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wearable Security Device Market products.
Kenneth Research has published a detailed report on Data Recovery Software Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
The Data Recovery Software Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Market Synopsis
A data recovery software helps in retrieving the deleted, corrupted or inaccessible data from a stored device. The software is mostly used by IT professionals to recover the data from physical storage devices and cloud storage, by referring and accessing the file structures. The data recovery process depends on the type of device in which the data is stored. The files present in hardware devices can be restored within the device itself, whereas the data from servers involve a set of complex processes. Major key players in this market are offering back-up as a service model to the commercial customers. The recovery process undergoes the creation of duplicate data on various servers to safeguard business continuity in case of natural or man-made disasters.
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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 high dependence of organizations on cloud storage services is the major factor for growth in the data recovery software market. Whereas, the high deployment costs of this software are restraining the market growth. The rise in usage of computers and other storage devices among enterprises and households, improving technological advancements are supporting the growth of data recovery software market.
Segmentation
The global data recovery software market is segmented into component, deployment, application, platform, industry, and region. On the basis of component, the market is further classified into software and services. The software can be further segmented into data replication, data reduction, and data retention. The services can be further classified into professional and managed services. The data recovery software can be deployed on-cloud and on-premise. The applications can be further classified into commercial and personal. On the basis of the platform, the segment is further classified into Windows, Linux, Mac, and others. The data recovery software can be deployed in various industries like BFSI, healthcare, retail, media & entertainment, IT & Telecommunications and many others.The Global Data Recovery Software is Estimated to reach USD 13 billion at CAGR 12% through the forecast period 2023.
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Regional Analysis
The global data recovery software market is studied for North America, Europe, Asia Pacific and Rest of the world. North America holds a major market share for global data recovery software market and is expected to continue through the forecast period. The presence of key players in the region and adoption of advanced technologies in recovery solutions are supporting the market growth. Availability of reliable backup and recovery software in the region are supporting the market growth. Asia Pacific is expected to show high growth rate during the forecast period.
The growth is primarily driven by adoption of recovery software in sectors like BFSI and IT to backup and protect their important data. The rise of various start-ups in the region results in the addition of data thereby requiring backup facilities which are fuelling the market.
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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Intended Audience
Data backup and recovery solution providers
System integrators
Consultancy firms
Managed service providers
Data security providers
Government Agencies
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