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“The global enterprise information archiving market size to grow at a CAGR of 13.5% during the forecast period.”
The report forecasts the global enterprise information archiving market size to grow from USD 5.7 billion in 2020 to USD 10.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.5% during 2020–2025. Major growth factors for the market include reduced storage costs required for the enterprise information archiving and government mandates to store enterprise information for audit and investigation purposes. On the other hand, the lack of the awareness of the availability of enterprise information archiving solutions and heavy dependency on traditional approaches may restrain the market growth. Several regulatory standards have been designed and developed by governments to store enterprise information.
The email segment to hold the largest market size during the forecast period
By type, the enterprise information archiving market is subsegmented into content type and services. The content type segment is further segmented into email, database, social media, instant messaging, web, mobile communication, file and Enterprise File Synchronization and Sharing (EFSS). Among content types, the email segment is expected to grow at the highest growth rate during the forecast period, as enterprises are use emails as the most common communication channel within and outside the enterprises. As per the government mandates, is mandatory to preserve the electronic communication records.
The BFSI vertical to grow at the highest growth rate during the forecast period
By vertical, the enterprise information archiving market is segmented into government and defense, education, Banking, Financial Services and Insurance (BFSI), transportation and logistics, healthcare and pharmaceutical, manufacturing, media and entertainment, retail, and others (IT and telecommunications, legal, and construction). Among these verticals, the BFSI vertical is expected to grow at the highest CAGR during the forecast period. The health services are getting digitalized with increasing world population. The number of healthrecords are generated for patients. With increasing health records, demand the archiving solution. This contributes to the growth of the enterprise information archiving market.
“North America to hold the largest market size during the forecast period
The enterprise information archiving market by region covers North America, Europe, Asia Pacific (APAC), Middle East amd Africa (MEA), and Latin America. North America is expected to hold the largets market size of the enterprise information archiving market. The region has been the most forward region in adopting enterprise information archiving solutions. This region has been extremely responsive toward adopting the latest technological advancements, such as integration technologies with Artificial Intelligence (AI), cloud, and mobile technologies within traditional enterprise information archiving solutions. The major growth driver for this region is the presence of rigorous government standards and regulations framed for various industries.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the enterprise information archiving market.
- By Company: Tier I: 18%, Tier II: 44%, and Tier III: 38%
- By Designation: C-Level Executives: 32%, Directors: 36%, and Others: 32%
- By Region: North America: 38%, Europe: 26%, APAC: 18%, MEA: 10%, and Latin America: 8%
Major enterprise information archiving vendors operating in the market Google (US), Microsoft (US), HPE (US), IBM (US), Dell (US), Veritas (US), Barracuda (US), Proofpoint (US), Smarsh (US), Mimecast (UK), ZL Technologies (US), Global Relay (Canada), Micro Focus (UK), OpenText (Canada), Solix (US), Archive360 (US), Everteam (France), Pagefreezer (Canada), Jatheon (Canada), and Unified Global Archiving (US). The report provides these players’ company profiles, business overview, product offerings, recent developments, and market strategies.
The global enterprise information archiving market has been segmented by type (content types and services), deployment mode, enterprise size, vertical, and region. Based on types, the market is segmented into content types and services. The content type segment is further categorized into email, database, social media, instant messaging, web, mobile communication, and file and EFSS, while services include consulting; system integration; and training, support, and maintenance. The deployment mode segment is bifurcated into cloud and on-premises. Based on enterprise size, the market is classified as Small and Medium-sized Enterprises (SMEs) and large enterprises. Verticals considered in the study include government and defense, BFSI, retail and eCommerce, education and research, healthcare and pharmaceutical, manufacturing, media and entertainment, IT and telecommunication, and others (legal, electronics, transportation and logistics, travel and hospitality, food and beverages, and energy and utilities). Region wise the market is studied across North America, Europe, APAC, MEA, and Latin America.
Key Benefits of Buying the Report
The report would help the market leaders and new entrants in the global enterprise information archiving market in the following ways:
- The report segments the market into various subsegments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across applications and regions.
- It helps understand the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
- It helps stakeholders understand their competitors better and gain more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.