Global Enterprise Information Archiving Market

Enterprise Information Archiving Market Size, Share, Growth Analysis, By Type(Solutions, Services), By Deployment Model(On-premise, Cloud), By Organization Size(Small and Medium Enterprises (SMEs), Large Enterprises), By Industry Vertical(BFSI, Retail and Consumer Goods, Healthcare & Life Science, IT & Telecom), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2348 | Region: Global | Published Date: May, 2024
Pages: 194 | Tables: 118 | Figures: 75

Enterprise Information Archiving Market Dynamics

Drivers

Launch of Data Management and Governance Initiatives

  • Organizations around the world are launching new governance and data management initiatives to mitigate risks and optimize business operations. Enterprise information archiving solutions play a crucial role in compliance with these initiatives.

Regulatory Compliance Norms

  • Governments and regulatory authorities are mandating the use of enterprise information archiving solutions and services to ensure compliance with data privacy and retention norms. This is projected to drive the global enterprise information archiving market.

Restraints

Issues in Legacy System Integration

  • Enterprise information archiving solutions utilize advanced technologies that might not be compatible with legacy infrastructure and systems, this creates challenges in integration and slows down market growth.

Data Security Concerns

  • Concerns regarding the security and safety of data extracted through the use of enterprise information archiving solutions are also expected to impede market development in the wake of growing cyberattacks.
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FAQs

Enterprise Information Archiving Market size was valued at USD 7.5 billion in 2022 and is poised to grow from USD 8.53 billion in 2023 to USD 23.83 billion by 2031, growing at a CAGR of 13.7% in the forecast period (2024-2031).

Enterprise information archiving providers should focus on improving their compliance with different data privacy and security regulations to boost their sales potential. Companies can also focus on providing information governance with information archiving services to improve their revenue generation and stand out from the competition in the long run. 'OpenText', 'Microsoft', 'relay', 'Barracuda Networks', 'Archive360', 'Titan HQ', 'Mimecast', 'Dell EMC', 'Google', 'Bloomberg', 'Commvault', 'Pagefreezer', 'Cross ALM', 'ArchiveSocial', 'Smarsh', 'Proofpoint', 'Veritas Technologies', 'Micro Focus'

Organizations around the world are launching new governance and data management initiatives to mitigate risks and optimize business operations. Enterprise information archiving solutions play a crucial role in compliance with these initiatives.

Development of Cloud-based Solutions: Enterprise information archiving providers should focus on integrating their solutions with cloud technologies to improve affordability and accessibility. This will help companies maximize their revenue generation by serving SMEs and companies with limited budgets.

North America is estimated to hold a major chunk of the enterprise information archiving market. High use of enterprise information archiving solutions and services across industry verticals such as government & defense, IT & telecom, media, banking, and finance allows this region to dominate the market. Growing volume of data and increasing migration towards cloud platforms is also slated to bolster the demand for enterprise information archiving over the coming years. The United States is estimated to maintain its position as the leading market for enterprise information archiving in North America through 2031.

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Global Enterprise Information Archiving Market

Report ID: SQMIG45A2348

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