The Enterprise Information Archiving Market is expected to reach USD 3,902 million by 2027, growing at aa CAGR of 13.5%, over the forecast period (2020-2027).
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The factors driving growth of the Enterprise Information Archiving Market includes increasing data explosion across end-use verticals such as BFSI, Healthcare, Government and Manufacturing, growing demand for cost-effective storage solutions, rise in the installation of mobile applications around the world and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) by companies on to enhance operational efficiency, emerging need for monitoring business processes, and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic mergers and collaborations between enterprises, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Enterprise Information Archiving Market is hindered due to growing concerns related to privacy and security.
The leading players operating in the market are Micro Focus International Plc., Veritas Technologies LLC., Barracuda Networks Inc., Google LLC, Microsoft Corporation, IBM Corporation, Proofpoint Inc., HPE Company, Dell Inc., and Smarsh Inc. among others.
Based on Enterprise Size, the Large Enterprises segment is predicted to grow at a robust CAGR during the forecast period
Large organizations are increasing adopting information archiving solutions because it reduces risks, optimize storage information resources, improves efficiency, and maintains transparency, are some of the features pushing the segment’s growth.
Based on Industry, the Banking, Financial Services and Insurance (BFSI) segment is projected to grow at a significant CAGR over the forecast period
Information archiving solutions helps companies in the BSFI sector to effectively communicate with customers, preserves communication through mails and social media and helps in meeting regulatory compliances, are some of the factors propelling growth of the segment.
Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period
Presence of the leading players such as Google LLC, Microsoft Corporation, and IBM Corporation, growing adoption of advanced technologies by major companies, rising demand for cost-effective storage solutions and high per capita incomes, are some of the important factors augmenting the market growth in North America.
- In 2019, Google LLC, entered into a strategic partnership with OpenText Corporation, one of the enterprise information management (EIM) company. In this partnership, both the firms provide product and service integration which helps customers to move critical EIM workloads on Google Cloud.
- In 2017, Google LLC, announced its partnership with Veritas Technologies, one of the information management companies. In this collaboration, both firms provided new set of innovative solution named G Suite Enterprise to customers, which includes eDiscovery and archiving support.
Segmentation by Type
- Content types
- Social media
- Instant messaging
- Mobile communication
- File and Enterprise File Synchronization and Sharing (EFSS)
- System Integration
- Training, Support, and Maintenance
Segmentation by Deployment Mode
Segmentation by Enterprise Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Segmentation by Industry
- Government and Defense
- Education and Research
- Banking, Financial Services and Insurance (BFSI)
- Media and Entertainment
- Retail and eCommerce
- Healthcare and Pharmaceutical
- IT and Telecommunications
- Others (Legal, Electronics, Automotive, Construction, Transportation and Logistics, Travel and Hospitality, Food and Beverages, and Energy and Utilities)
Segmentation by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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