1. Market Research
  2. > Advanced IT Market Trends
Enterprise Information Archiving Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Enterprise Information Archiving Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • August 2021
  • 134 pages
  • ID: 6134969
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The global enterprise information archiving (EIA) market (henceforth referred to as the market studied) was valued at USD 5.93 billion in 2020, and it is expected to reach a value of USD 12.49 billion by 2026, registering a CAGR of 13.51% over the forecast period (2021-2026).


The growth of enterprise information archiving solutions is attributed to the rising generation of data across organizations, assigned to the widespread geographical presence and customer base. Factors such as reduced storage costs for the enterprise information archiving and government mandates to store enterprise information for audit and investigation purposes are further driving the market growth.
Estimations put that the data generated by enterprises, mainly include unstructured data, approximated in the range of 70% to 80%, and only 30% to 20% of the data is structured. Data comes in various formats, from structured, numeric data in traditional databases to unstructured text documents, videos, audio, emails, stock ticker data, and financial transactions. Enterprise information archive stores all kind of data in archive storage and make it accessible when required. Organizations are also positioning themselves to extract more value, intelligence, and utility from the data within their archive.
Also, according to Cisco, the volume of Big Data in data center storage is anticipated to increase to 403 exabytes by 2021 from 179 exabytes in 2019. Moreover, the increasing usage of the cloud has further supported data generation across end-user verticals. Information archiving solutions leverage public and private cloud platforms in order to offer organizations the much-needed agility and scalability, with lower costs. Therefore, the players in the market are increasingly offering cloud-based solutions to manage data. For instance, the Barracuda Essentials cloud-based service makes e-mail safe for businesses, with advanced threat protection, tamper-proof archiving, and data protection.
Furthermore, several regulatory standards have been designed and developed by governments for company compliance. Regulations often mandate that electronic data such as email and social media needs to be stored in a secure, tamper-proof format. High-quality archiving solutions have advanced search and legal hold features that allow secure eDiscovery and compliance with various laws and regulations in regulated industries and beyond. They ensure easy policy management and allow storage in mandated WORM formats.
With the outbreak of COVID-19, the market is likely to grow as the total volume of data in the world is growing at a fast pace. According to Seagate Technology PLC, the volume of data is expected to reach 149 zettabytes by 2024 from 26 zettabytes in 2017. Moreover, enterprises across the globe are adopting technical solutions as part of their digitalization process. Hence augmenting the market growth.


Key Market Trends

BFSI to Hold the Highest Market Growth


The BFSI industry has been focusing on going paperless, thereby shifting towards the digital mode for its operations. With the increasing enhancements in internet coverage across the globe, banks and other financial institutions are increasingly shifting to online mode.
This increasing digital transition in the sector has led to an enormous digital data creation that includes confidential customer credentials, process information, and transaction data. The proper management, handling, monitoring, and sharing of this huge data takes a lot of effort and time and eventually affects productivity. The management of this crucial data and its security has gained utmost importance, as a compromise in this data could have an irreversible impact on the organization’s value.
The BFSI sector is rapidly moving towards digitization in order to secure more customers and reach more potential consumers. The current FinTech era features changes in the market landscape, new regulations, and shifts in consumer behaviors. Currently, the customers demand user-friendly experiences, easy-to-understand products, transparency, and access to products and information.
Moreover, a recent Finastra survey showcased that corporate banking clients are shifting their focus towards real-time execution capabilities, access to online platforms, and value-added services. In response, the banks have moved away from the traditional relationship management model towards a digital platform that can meet the client’s needs faster, flexibly, and in a more agile manner.
Financial organizations are required to follow archiving regulations for various sets of data. For instance, in the United States, FINRA 10-06 regulation mandated financial organizations to retain social media communication records. FINRA 11-39 regulation mandated retaining, supervising, and retrieving business communications, whether they are conducted from office or personal devices.
Furthermore, Remote working has increased substantially, which has benefited EFSS during the pandemic. System workloads and active users have increased by up to 100% during the COVID-19 crisis. The EFSS segment is expected to witness significant growth considering the present situation in place and gain traction among various, including the Healthcare, BFSI, and Manufacturing sectors. The segment is already being intensively used in the IT sector, and it is expected to grow further over the years.


North America to Hold Highest Market Share


North America holds the highest market share. The region is an early adopter of the latest technological advancements, such as integration technologies with Artificial Intelligence (AI), cloud, and mobile technologies within traditional enterprise information archiving solutions. Moreover, the region has a stronghold of the enterprise information archiving vendors such as Google LLC, Microsoft Corporation, IBM Corporation, Dell, Veritas Technologies LLC, Barracuda Networks Inc., Proofpoint Inc., Smarsh Inc., etc.
The presence of rigorous government standards and regulations framed for various industries regarding the archive of data is the primary growth driver for this region, thereby fuelling market growth. For instance, FINRA 10-06, say financial firms must retain records of all social media communications, Sarbanes-Oxley Act, that says Public companies must save all business records, including electronic records and messages, for no less than five years.
Moreover, the rising adoption of cloud in the region is further boosting the market growth. Further, players in the region are adopting strategic partnerships to increase their market presence. For instance, In Jun 2020, Commvault, a global enterprise software company in the management of data across cloud and on-premises environments, entered into a multi-year agreement with Microsoft. The partnership tightly integrates go-to-market, engineering, and sales of Commvault’s Metallic Software-as-a-Service (SaaS) data protection portfolio with Microsoft Azure to deliver ultimate scale and trusted security with simple SaaS management.


Competitive Landscape

In the market studied, the competitive rivalry between various firms is dependent on pricing, functionalities solution capabilities, or market share, along with the intensity with which they compete in the market.

Major companies have a strong influence on the market in terms of consolidation activities. Conversely, the market can be characterized by high levels of market penetration, along with increasing levels of fragmentation.

Sustainable competitive advantage can be gained through innovation. Market incumbents have been adopting powerful competitive strategies based on product differentiation, market expansion, among other activities.

Reasons to Purchase this report:

The market estimate (ME) sheet in Excel format
3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Management Decision Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • $ 4250
  • August 2021
  • 145 pages

The Management Decision Market is expected to register a CAGR of 15.26% over the forecast period 2021 - 2026. The outbreak of COVID-19 has caused immense secondary effects on many economies. Some companies ...

  • World
  • Advanced IT
  • Cloud Computing
  • Industry analysis
  • Software Revenue
  • Number Of Enterprises

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on