Enterprise Information Archiving Market Forecasts to 2028 – Global Analysis By Type (Services, Content Type), Pricing Type, End User (Pharmaceuticals, Manufacturing), and By Geography
According to Stratistics MRC, the Global Enterprise Information Archiving Market is accounted for $5.29 billion in 2021 and is expected to reach $16.06 billion by 2028 growing at a CAGR of 17.2% during the forecast period. Enterprise information archiving solutions are designed for archiving data sources to a centralized platform to satisfy information governance requirements. EIA products provide features such as data reduction across content types, retention management, content indexing, and tools for e-discovery and classification.
Growing data volumes of enterprises
The huge volume of enterprise information generated by the exponential increase in data from emails, instant messaging, databases, social media, web, mobile communication files, and enterprise file synchronization sharing is posing a challenge for businesses, so increasing the requirement for enterprise information archiving solutions. Thus, creating a need for EIA solutions to empower businesses with the ability to capture information from all platforms and devices and the ability to efficiently and securely archive information.
Lack of awareness
Many enterprises fix to traditional and time-consuming methods due to budget constraints and the lack of awareness of enterprise information archiving. So SMEs depend on manual and other traditional approaches to archiving to manage their enterprise information. The lack of training and capabilities to manage advanced enterprise information archiving solutions is restraining the market growth.
Emerging potential markets
An increase in the demand for both unstructured and structured data helps to create opportunities for enterprise information achieving market. Owing to the technology development, the organizations are spending a large amount of money and time to analyze this data, which will lead organizations to take strategic decisions in the future perspective. Growing adoption of different technologies will generate a high amount of unstructured data. This will lead to the adoption of the enterprise information archiving services in the upcoming years which is opportunistic for the market.
Cybersecurity and data protection risks
Enterprise information plays an important role in planning enterprise strategies. Therefore, enterprises are unwilling to move their confidential data as well as business operations to the cloud and prefer on-premises or conventional information management methods, which inhibit the growth of the enterprise information archiving market. In the enterprise information archiving market, security-related concerns over enterprise information are substantial as businesses are fully dependent on enterprise data.
The cloud segment is expected to be the largest during the forecast period
The cloud segment is estimated to have a lucrative growth as these solutions support the organizations in achieving scalability, requiring security and cost advantage to manage the increasing amounts of data. Such solutions can also provide greater accessibility to multiple types of data content to ensure compliance, mitigate the risks, and increase system efficiencies.
The banking, financial services and insurance (BFSI) segment is expected to have the highest CAGR during the forecast period
The banking, financial services and insurance (BFSI) segment is anticipated to witness the fastest CAGR growth during the forecast period as banking, financial services institutes and enterprises are facing problems to meet regulatory compliance requirements defined by various regulatory bodies. To achieve 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.
Region with highest share:
North America is projected to hold the largest market share during the forecast period due to the presence of significant players in the region, shifting preferences towards data digitalization with the availability of advanced technologies, and the rising adoption of cloud-based solutions.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period owing to the high adoption of advanced technologies, high investments in digital transformation, the rapid expansion of domestic enterprises, and extensive development of infrastructures.
Key players in the market
Some of the key players profiled in the Enterprise Information Archiving Market include Microsoft, ZL Technologies, Veritas, Solix, proofpoint, OpenText, Mimecast, Google, Micro Focus, IBM, HPE, Smarsh, Global Relay, DELL, Commvault and Barracuda.
In Jan 2022, Proofpoint acquired Dathena to strengthen its cloud-based people-centric security solutions by adding AI-based data classification to its information and cloud security offerings.
In Nov 2021, Smarsh launched the next generation of its enterprise electronic communications capture, archiving and oversight offering, the Communications Intelligence Platform. The AI-powered solution enables financial services firms and other highly regulated enterprises to collect and analyze communications data at scale, quickly identify risks, recognize business insight, and improve operational systems.
Deployment Modes Covered:
• Content Type
Pricing Types Covered:
• One-Time License
• Monthly Subscription
• Annual Subscription
Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
End Users Covered:
• Retail and Ecommerce
• Media and Entertainment
• Life Science and Healthcare
• IT and Telecommunications
• Government and Defense
• Education and Research
• Banking, Financial Services and Insurance (BFSI)
• Other End Users
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook