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Global Enterprise Information Archiving Market Report 2022: Data Volumes of Enterprises are Growing at an Exponential Rate, Fueling Adoption

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Global Enterprise Information Archiving Market

Global Enterprise Information Archiving Market
Global Enterprise Information Archiving Market

Dublin, Oct. 31, 2022 (GLOBE NEWSWIRE) -- The "Global Enterprise Information Archiving Market with COVID-19 Impact, by Type (Content Type (Email, Database, Social Media, Instant Messaging, Mobile Communication) and Services), Deployment Mode, Organization Size, Vertical & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The publisher estimates The global enterprise information archiving market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period, to reach USD 12.9 billion by 2027 from USD 6.4 billion in 2022. The growth in the enterprise information archiving market has been impelled due to the increasing need for cost-effective storage solutions for inactive data to meet compliance and legal requirements. Another growth driving factor for the enterprise information archiving market is the demand for improved business processes through segregation of less valuable data from the online enterprise data. Further, cloud-based archiving creates new growth opportunities in the enterprise information archiving market. These factors are driving the demand for enterprise information archiving market.

The COVID-19 Impact on the global enterprise information archiving market



As per the report, COVID-19 has accelerated global digital transformation. The proliferation of remote work environments has created new complex barriers for businesses to overcome. It has resulted in an increase in the number of individuals working from home or remote locations, as well as shifted the employees access business networks. Companies adopted to collaboration tools, such as Slack, Microsoft Teams, Google Meet, and Zoom. Leading to larger volumes of digital conversations for companies to archive, including challenging file types such as large video files from virtual meeting. The additional rise in cybersecurity threats and the need for secure remote access has transformed companies to invest in technology that enable intelligent data and analytics capabilities. As the demand for new digital workplace and technologies have plateaued during the pandemic. Enhancing and maintaining the security of IT infrastructure is a major priority for companies. As, the risks to endpoint devices is growing in a hybrid work environment, therefore organizations are increasing their investment in hybrid cloud storage for disaster recovery and cybersecurity.

The content type segment is expected to grow at a higher CAGR during the forecast period


The Content type segment for enterprise content management is expected to grow at a higher CAGR. Various industry enterprises demand archiving solutions as per their content type from enterprise information archiving solution providers. The content types include structured and unstructured data that is generated by an enterprises' IT infrastructure. Enterprise information archiving vendors offer enterprise information archiving solutions as per content types that include email, database, social media, instant messaging, web, mobile communication, and file and EFSS.

BFSI industry vertical to hold the highest market share in 2022


Financial service institutes and enterprises are continuously facing problems to meet regulatory compliance requirements defined by various regulatory bodies, such as Financial Industry Regulatory Authority (FINRA), SEC, Federal Financial Institutions Examination Council (FFIEC), Federal Deposit Insurance Corporation (FDIC), and Dodd-Frank Act. These regulations ensure financial service organizations work according to standards and maintain fair transactions with customers. This helps financial service organizations effectively communicate with customers, monitor, and preserve all communications done through emails, social media, or mobile communications. To accomplish this, financial services organizations need to incorporate solutions, which can capture, archive, and provide easy access to the required information, enabling the organization to respond to an agency information request.

Market Dynamics

Drivers

  • Data Volumes of Enterprises are Growing at an Exponential Rate

  • Regulatory, Legal, and Competitive Business Environments Drive Businesses to Seek Innovative Ways to Archive Enterprise Information

  • 5G, AI, Big Data, and Other Technologies Bolster Both the Supply and Demand for Data

  • Need to Use More Cost-Effective Storage Resources for Inactive Data

Restraints

  • Lack of Awareness About Enterprise Information Archiving Solutions with Significant Reliance on a Legacy Archiving Method

Opportunities

  • Rising Internet Adoption and Mobile Devices at Enterprises Which are Creating Opportunities for Archiving Solutions

  • Disruptive Technologies, Such as Cloud-Native Platforms and Ai, Will Enable Enterprise Information Archiving Solutions to Gain More Adoption

Challenges

  • Cybersecurity and Data Protection Risks are on the Rise and Will Likely Continue to Evolve with Emerging Technologies



Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview and Industry Trends

6 Enterprise Information Archiving Market, by Type

7 Enterprise Information Archiving Market, by Deployment Mode

8 Enterprise Information Archiving Market, by Organization Size

9 Enterprise Information Archiving Market, by Vertical

10 Enterprise Information Archiving Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Adjacent/Related Market

14 Appendix

Companies Mentioned

  • Archive360

  • Barracuda

  • Bloomberg

  • Commvault

  • Dell

  • Everteam

  • Global Relay

  • Google

  • Hornetsecurity

  • Hpe

  • Ibm

  • Jatheon

  • Micro Focus

  • Microsoft

  • Mimecast

  • Mirrorweb

  • Mithi

  • Odaseva

  • Opentext

  • Pagefreezer

  • Proofpoint

  • Skysite Technologies

  • Smarsh

  • Solix Technologies

  • Spambrella

  • Theta Lake

  • Txtsmarter

  • Unified Global Archiving

  • Veritas

  • Zl Technologies

  • Zovy Archiving Solutions

For more information about this report visit https://www.researchandmarkets.com/r/vfs31b

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