DUBLIN–(BUSINESS WIRE)–The “Enterprise Information Archiving Market by Type (Content Types (Email, Database, Social Media, Instant Messaging, and Web) and Services (Consulting and System Integration)), Deployment Mode, Enterprise Size, and Region – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global enterprise information archiving market is expected to reach USD 10,760 million by 2025 from USD 5,705 million in 2020, at a CAGR of 13.5% during the forecast period.
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.
- Growing Enterprise Information Across Verticals
- Increasing Stringent Legal Compliances
- Need for Cost-Effective Storage Solutions for Inactive Enterprise Data
- Lack of Awareness of Enterprise Information Archiving and Heavy Dependence on Traditional Approaches
- Impact of Disruptive Technologies to Increase Adoption of Enterprise Information Archiving Solutions
- Emerging Potential Markets to Provide High-Growth Opportunities
- Security and Privacy Concerns Over Enterprise Information
- ZL Technologies
- Global Relay
- Micro Focus
- Unified Global Archiving
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