Cloud computing concept on digital background
Overview and Scope
Enterprise information archiving refers to using new methods for storing business data, both structured and unstructured, as opposed to previous methods that only focused on storing structured data. This software combines products and solutions for archiving the different types of data generated by the user.
Sizing and Forecast
The enterprise information archiving market size has grown rapidly in recent years. It will grow from $8.6 billion in 2023 to $9.69 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to rising demand for data retention for regulatory compliances and business performance, increased operational efficiency, growing adoption for cost-effective storage processes, data retention for regulatory compliances, increased data security and privacy concerns
The enterprise information archiving market size is expected to see rapid growth in the next few years. It will grow to $16.65 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to growing demand for data retention to meet legal governance requirements, increased emerging countries generating new opportunities, positive impact of covid-19 on the global enterprise information archiving market, increasing data volume worldwide, implementation of technology solutions for digitalization process. Major trends in the forecast period include integration with collaboration platforms, immutable storage for data preservation, application of blockchain for data integrity, machine learning for content classification, hybrid deployment models.
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Segmentation & Regional Insights
The enterprise information archiving market covered in this report is segmented –
1) By Type: Email, Social Media, Web, Mobile Communications, Database.
2) By Deployment Type: On-Premises, Cloud.
3) By Organisation Size: Large Enterprises, SMEs.
4) By Service: Planning And Consulting Services, System Integration, Training And Support Services, Operations And Maintenance Services, Data Migtion.
5) By Vertical: Government And Defense, BFSI, Retail And Ecommerce, Education And Research, Healthcare And Pharmaceutical, Manufacturing, Media And Entertainment, IT And Telecommunications, Other Verticals
North America was the largest region in the enterprise information archiving market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise information archiving market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increasing amount of data being created each year is expected to propel the growth of the enterprise information archiving market going forward. Data refers to the information that is digitally stored on computers and other data storage technologies such as the cloud or blockchain. Currently, data set sizes are increasing, such as bytes, terabytes, and petabytes. Enterprise information archiving solutions help to manage more information effectively and to achieve compliance goals more easily. For instance, according to WP Dev Shed, a New-Zealand based webmaster’s company, in July 2022, 2.5 quintillion bytes of data are generated every day this year. This data usage is expected to reach 97 zettabytes of data worldwide by the end of 2022. Also, this usage of data is expected to grow further, reaching 175 zettabytes by the end of 2025. Therefore, increasing data volumes at enterprises are driving the enterprise information archiving market growth.
Key Industry Players
Major companies operating in the enterprise information archiving market report are Atos SE, Barracuda Networks Inc., Bloomberg Finance L. P., Dell Technologies Inc., Google LLC, Veritas Technologies LLC, Commvault Systems Inc., Proofpoint Inc., Mimecast Limited, Smarsh Inc., Global Relay Communications Inc., Micro Focus International plc, ZL Technologies Inc., Symantec Corporation, Microsoft Corporation, International Business Machines Corporation., GFI Software, SolarWinds Corporation, MailStore Software GmbH, Altaro Software Limited, TransVault Limited, Waterford Technologies Inc., ArcMail Technology Inc., Sphere 3D Corp., Quest Software Inc., Polaris Solutions Ltd, Jatheon Technologies Inc., MailArchiva, Capax Global LLC
The enterprise information archiving market report table of contents includes:
1. Executive Summary
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