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Data Recovery Market Grows by 23% and is Projected to Increase

Data loss has increased 400% in the past seven years and poses a real threat to businesses and individuals.

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In recent years, data recovery has become an increasingly important technology. More people are using the internet and own a variety of electronic devices, which means that there is also a growing risk of data loss. Naturally, this increases the demand for recovering data that has been lost. In the last few years alone, the need for data loss recovery services has increased worldwide by over 23%, and it continues to grow. This need has given rise to many new data loss prevention companies, which benefits consumers and businesses. This market is growing at tremendous speeds due to consumer demand and the need for innovative recovery methods.

Where is Data Loss Recovery Needed Most?

There is a need to recover and save lost data virtually everywhere in the world. However, demand is still higher in some regions than others. Research shows that the need for data recovery software is highest in these regions:

  • India
  • Southeast Asia
  • Japan
  • Europe
  • China
  • United States

Demand is also higher in developing countries where loss of data is high due to poor security measures, defective electronic devices, and human error. Hacking, which is a global concern, is also responsible for large volumes of data loss, particularly in developing countries.

Who Uses Data Recovery Most?

Data loss affects everyone from home users to large corporations. Whether you’re trying to work from home or you’re trying to operate a small business, losing data can have serious repercussions. While home users may occasionally use data recovery software, large organizations are the biggest customers for data loss recovery services. In the United States alone, data loss recovery is an $11 million business. Worldwide, more than 10,000 companies of various sizes use data loss recovery services each year. Growth is expected to continue both in the United States and internationally for data recovery as more people and businesses face the need to save and protect their information.

Data Loss Over Time

Data loss has been an issue since computers were invented. However, the problem accelerated with the start of the digital revolution in the 1990s. The issue has grown tremendously in the past few years, as evidenced by the fact that data loss has increased 400% since 2012. Each week, about 140,000 hard drives fail in the US alone. Now, companies are discovering ways to meet more modern and challenging demands to recover data from a variety of personal devices and electronics. While people with moderate computer skills could potentially recover their own data using basic software and IT knowledge just a few years ago, recovering lost data has become increasingly more difficult. Now, a third-party recovery service is more or less essential to safely and properly recover lost data from damaged or defective devices. Along with recovering lost data, consumers are looking for assistance with safely storing data as well.

Benefits of Data Loss Recovery

Data loss has a broader-reaching impact than many people initially realize. A small business that loses data, for instance, can lose important photographs, documents, and electronic orders from consumers. A larger business can lose financial information, classified documents, and other sensitive information. Unforeseen circumstances impact businesses every day, but not all companies are prepared to deal with data loss. In fact, about 68% of small businesses don’t have a response plan in place. Once that information is gone, it can be very difficult to retrieve. That downtime can result in a loss of up to $100,000.

However, a specialist in recovering data can use software and physical data extraction to get data back. The advantage for consumers with the growth of this market is that recovering data is not a “one size fits all” approach. The advent of more recovery techniques means a faster and more accurate solution that meets a customer’s specific needs.

Data loss ranges from an inconvenience to a serious threat. Still, nearly 50% of all businesses don’t have a recovery plan in place. If you need assistance recovering lost data, now is the time to contact Secure Data Recovery. With the capability to recover lost data physically (which is the most effective solution) from any operating system or device, we can help you restore precious data and get your business back up and running as quickly as possible. Contact us today at 1- 800-388-1266 for more information on how we can help you.

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