The latest market report published by Credence Research, Inc. “Enterprise Information Archiving Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the enterprise information archiving market was valued at US$ 5.00 Bn in 2018 and expected to grow at a CAGR of 13.6% during the forecast period from 2019 to 2027.
Market Insights
“Reducing storage cost along with government mandates to store enterprise information will upgrade the market growth during the forecast period
Enterprise Information Archiving (EIA) is a virtual data repository that stores data in high capacity, less costly and low power consuming archive storage devices such as tape libraries and cloud storage instead of costly and power consuming primary storage. Data can be classified into structured and unstructured data. Structured data can be referred as alphabets, numbers and can be easily processed and stored whereas unstructured data can be referred as email, images, audio and video files.
Enterprise Information Archive stores inactive enterprise data in archive storage so that it can be accessed whenever required. EIA products provide the end-users with features such as single storage for structured and unstructured data, content indexing and data discovery. Information archiving enables the companies to manage and dispose information according to regulatory and business requirements. EIA was initially introduced for archiving email content, however, gradually it expanded to include social media and instant messaging content.
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Key Industry Developments:
- In April 2018, Veritas entered into partnership with TMON, Korea’s social-commerce company. With Veritas’ Enterprise Vault and Data Insight, TMON improved its business productivity and established a digital compliance framework successfully.
Key Market Movements:
- Globally, the enterprise information archiving market market is rising at a CAGR of 13.6% for the estimated period from 2019 to 2027.
- Asia Pacific is Asia Pacific is expected to be the leading market for EIA during the forecast period. Growing enterprise information across verticals, increasing stringent legal compliances is driving the demand for EIA market in this region.
- The North America is estimated to be the largest from 2019 to 2024. 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.
- However, sustainable market growth, introduction of smart cities, and regulatory developments alon with consumer focused government incentive scemes across the regions will drive the overall demand.
List of Companies Covered:
- Microsoft
- Hpe
- IBM
- Dell
- Veritas
- Barracuda
- Proofpoint
- Smarsh
- Mimecast
- ZL Technologies
- Global Relay
- Micro Focus
- Opentext
- Solix
- Archive360
- Everteam
- Pagefreezer
- Jatheon
- Unified Global Archiving
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