Global Enterprise Information Archiving Market Size, Share & Industry Trends Analysis Report By Component, By Vertical, By Deployment Type, By Organization Size, By Regional Outlook and Forecast, 2022 - 2028
The Global Enterprise Information Archiving Market size is expected to reach $17. 1 billion by 2028, rising at a market growth of 15. 1% CAGR during the forecast period. Enterprise information archiving refers to the application of new ways for storing both structured and unstructured business data, in contrast to prior methods that solely focused on storing structured data.
New York, June 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Enterprise Information Archiving Market Size, Share & Industry Trends Analysis Report By Component, By Vertical, By Deployment Type, By Organization Size, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06283422/?utm_source=GNW
Enterprise information archiving (EIA) software incorporates products and solutions for archiving user communications content such as SMS, email, instant messaging, and public and business social media data. Other types of information, such as data in enterprise file synchronization and sharing (EFSS) platforms, files, website content, and audio, are also included. The majority of EIA spending goes into email compliance and retention, but there is growing interest in archiving other types of communications data. Data reduction across information types, retention management, content indexing, and e-discovery and categorization technologies are all included in EIA solutions.
In addition, enterprise information archiving is critical for any business to be protected against lawsuits alleging fraud or the leaking of personal information about customers. With the improvements of advanced computing and communication networks, new regulations are being enacted on a regular basis to protect the personal information of customers and promote ethical corporate practices. Enterprise information archiving has also aided enterprises all over the world in improving company efficiency by separating obsolete and less usable data on tertiary storage and maintaining useful data on secondary storage for faster access and processing. Market vendors offer a single platform for archiving and managing a broader range of company data, ranging from standard office files to enterprise communication media contents including email, social media, instant messaging, and mobile communication. Datacenters with cloud support have been constructed, allowing for scalable archiving at a reasonable cost.
For example, Cisco also predicts that the volume of Big Data in data center storage would grow to 403 exabytes by 2021, up from 179 exabytes in 2019. Furthermore, the growing use of the cloud has aided data generation across all end-user verticals. Information archiving solutions make use of public and private cloud platforms to provide enterprises with the agility and scalability they require at a cheaper cost. As a result, market participants are progressively offering cloud-based data management solutions. With enhanced threat security, tamper-proof archiving, and data protection, the Barracuda Essentials cloud-based service, for example, makes e-mail safe for organizations.
The worldwide digital transition has been accelerated through COVID-19. Businesses must now overcome new complicated barriers as a result of the expansion of remote work settings. It has led to a rise in the number of people working from home or from remote places, as well as a shift in how employees connect to corporate networks. Collaboration platforms such as Slack, Microsoft Teams, Google Meet, and Zoom have become popular among businesses. As a result, firms will have to preserve higher volumes of digital conversations, including difficult file types like huge video files from virtual meetings. Companies are investing in technology that enables cognitive data and analytics capabilities as a result of increased cybersecurity concerns and the necessity for secure remote access.
Market Growth Factors
Increasing Amount of Data Being Created Each Year
The massive volume of enterprise data generated by the exponential increase in data from emails, instant messaging, databases, social media, mobile communication files, web, and enterprise file synchronization sharing is posing a serious challenge for businesses, resulting in a greater demand for enterprise information archiving solutions and services. Capturing, preserving, and producing records of corporate decisions and communications across a variety of content, sources, and data kinds are tough.
Integration of Disruptive Technologies such as cloud-native platforms and AI
To improve operational efficiency, businesses use disruptive technologies such as the cloud, communication channels, IoT, and AI. Enterprises must use digital strategies and technology to operate efficiently in the age of digital transformation. Disruptive technologies generate and access enormous amounts of data. AI is expected to be used everywhere, from the edge to the core to the cloud. Businesses can leverage AI platforms and apps to use machine learning (ML) capabilities to increase accuracy and speed up processing for business-critical analysis.
Market Restraining Factors
Ignorance regarding enterprise information archiving solutions
Given the vast pool of digital enterprise information available to them, large enterprises have started implementing a variety of innovative solutions to manage their enterprise information. However, due to budget constraints and a lack of understanding about corporate information preservation, many businesses continue to use traditional and time-consuming approaches, such as manually managing digital company information. As a result, a variety of SMEs still relies on manual and other traditional approaches or tactical system archiving to maintain their business data.
Based on Component, the market is segmented into Content and Services. Based on Content Type, the market is segmented into Email & Web, Database, Social Media, Instant Messaging, File, Enterprise file synchronization & sharing, and Others. The services segment procured a significant revenue share in the enterprise information archiving market in 2021. External assistance is needed for a variety of reasons, and there are five main drivers for establishing business archives programs: creating order out of chaos; closing or transferring custody of the Archives; establishing corporate memory; due diligence/verification requirements; and assistance for existing archives/records programs or functions.
Based on Vertical, the market is segmented into BFSI, Government & Defense, Manufacturing, Telecom & IT, Retail & Consumer Goods, Healthcare & Life Sciences, Education & Research, and Others. The BFSI segment acquired the largest revenue share in the enterprise information archiving market in 2021. The Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC), the Federal Financial Institutions Examination Council (FFIEC), the Federal Deposit Insurance Corporation (FDIC), and the Dodd-Frank Act all have regulatory compliance requirements that financial service institutions and businesses must meet. These regulations ensure that financial service businesses adhere to industry standards and conduct fair business with their customers. This aids financial service firms in successfully communicating with customers, as well as monitoring and archiving all conversations sent by email, social media, or mobile devices.
Deployment Type Outlook
Based on Deployment Type, the market is segmented into On-premise and Cloud. The cloud segment garnered a substantial revenue share in the enterprise information archiving market in 2021. A cloud archive is a storage as a service (SaaS) solution for long-term data archiving. The archive stores data that is rarely accessed and can be optimized for security and compliance with data privacy regulations. In addition to lowering storage costs, removing idle data from primary storage improves application performance. It also makes it easier to reduce the backup window. With a smaller working set of data, applications execute faster.
Organization Size Outlook
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. The large enterprise segment acquired the largest revenue share in the enterprise information archiving market in 2021. Due to the vast volumes of data to be maintained, large organizations are likely to embrace enterprise information archiving solutions in the future. Large corporations have numerous offices and divisions located all over the world. These companies use centralized, cloud-based enterprise information archiving solutions to keep track of their offices and divisions from corporate headquarters. The introduction of cloud-based enterprise information archiving systems has enabled incident storage in the cloud. To improve and evaluate company information archiving, large enterprises are eager to invest in innovative and cutting-edge technologies such as AI, cloud, and 5G. Another element driving enterprise information archiving adoption around the world is huge corporations’ enormous spending power.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America acquired the largest revenue share in the enterprise information archiving market in 2021. Due to the increased adoption of new technologies, high investments in digital transformation, quick expansion of domestic firms, broad infrastructure development, and increasing GDP of various nations. To safeguard and achieve enterprise information, rapidly rising economies such as China, Japan, Singapore, and India are deploying enterprise information archiving solutions across numerous business processes. Asia is the center of the IT industry, and it is expanding at a quicker rate. The growing demand for business process optimization and monitoring has necessitated the usage of the enterprise information archiving solutions to minimize policy and regulatory violations.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Hewlett-Packard Enterprise Company, IBM Corporation, Google LLC, Dell Technologies, Inc., Barracuda Networks, Inc. (Thoma Bravo), Veritas Technologies LLC (The Carlyle Group), Proofpoint, Inc., Mimecast Limited, and Smarsh, Inc.
Strategies Deployed in Enterprise Information Archiving Market
2022-Feb: Smarsh acquired the Digital Safe product line from Micro Focus. The acquisition aimed to bring more capabilities to the Smarsh portfolio and distinctively positioned the company to offer the flexibility, scale, and support infrastructure to solve the complex archiving, compliance, and e-discovery needs of the largest regulated multi-national companies.
2022-Jan: Proofpoint acquired Dathena, a visionary company involved in artificial intelligence-powered data protection. This acquisition aimed to strengthen Proofpoint’s cloud-based people-centric security solutions through the addition of AI-based data classification to its Information & Cloud Security platform, aiding organizations in better comprehending information risk and avoiding data loss in today’s hybrid world.
2020-Sep: Veritas Technologies completed the acquisition of Globanet, a Los Angeles-based software company. This acquisition aimed to integrate Globanet’s technology into their digital compliance portfolio to quicken and strengthen their innovation for the Veritas Enterprise Data Services Platform and improve their compliance capabilities. In addition, Veritas allowed its customers to optimize and monitor all their content as it moved from backup to archive to discovery.
2020-Sep: Mimecast launched Mimecast Cloud Archive for Theta Lake. The strong integration was developed to simplify risk analysis and governance efforts in the existing remote working era to enable capture, retention, eDiscovery, and automated risk distinction across specific productivity applications.
2019-Nov: Dell Technologies launched various novel solutions, reference architectures, and portfolio advancements to simplify and quicken customers’ high-performance computing (HPC) and artificial intelligence (AI) efforts. Through this product launch, Dell expanded its portfolio of Dell EMC Ready Solutions for HPC Storage with the novel, complete solutions for ThinkParQ’s BeeGFS and ArcaStream’s PixStor file systems. In addition, Dell EMC hardware, networking, and support, are combined with technology partners’ software. Thus Dell EMC Ready Solutions for HPC Storage simplify and accelerate deployment and solutions management.
2019-Mar: Veritas Technologies completed the acquisition of APTARE, a dominant player in the analytic solutions for hybrid cloud environments and the industry’s key open and extensible IT analytics platform. APTARE’s technology enabled Veritas to provide customers with an improved analytics platform that offers deep insights and reporting across their different data protection, virtual infrastructure, and storage environments.
2019-Nov: Proofpoint acquired ObserveIT, a company providing an insider threat management platform. Proofpoint combined ObserveIT’s lightweight endpoint agent technology and data risk analytics with its industry-leading information classification, and intelligence. This acquisition gave enterprises unprecedented insight into user activity with their sensitive data, wherever it resides and the capacity to instantly eliminate risk.
Scope of the Study
Market Segments covered in the Report:
o Email & Web
o Social Media
o Instant Messaging
o File, Enterprise file synchronization & sharing
• Government & Defense
• Telecom & IT
• Retail & Consumer Goods
• Healthcare & Life Sciences
• Education & Research
By Deployment Type
By Organization Size
• Large Enterprises
• Small & Medium Enterprises
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Microsoft Corporation
• Hewlett-Packard Enterprise Company
• IBM Corporation
• Google LLC
• Dell Technologies, Inc.
• Barracuda Networks, Inc. (Thoma Bravo)
• Veritas Technologies LLC (The Carlyle Group)
• Proofpoint, Inc.
• Mimecast Limited
• Smarsh, Inc.
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