Digital Vault Market Key Players, End User, Demand and Consumption by 2032

As per the study by Persistence Market Research, the digital vault market is projected to reach US$ 2.5 Billion by 2032 from US$ 785 Million in 2022. The market is likely to grow at a high CAGR of 12.3%. The digital vault is a highly secure storage solution that is protected by encryption, firewalls, and access controls. Unlike cloud-based storage solutions, digital vaults are highly secure, on-premises and protected by physical security measures.

Additionally, the users' privacy and personal information is protected from the daily attacks. As the threat landscape continues to grow, it is becoming increasingly important to protect data from a breach, protect data through security solutions, and provide data security solutions, which has boosted the use of virtual vaults over the past few years.

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Cyber-attacks and the dynamic nature of the security industry have both increased in recent years as companies look for ways to protect sensitive financial data from breaches with the utmost risk and the highest return. In recent years, banking institutions have been moving toward the cloud at an accelerated rate, demonstrating their capability to protect this data by using digital vaults on the market. By storing passwords and data sets in the cloud-based systems, digital vaults are anticipated to positively impact future growth of IT & Telecom. Cloud-based solutions are expected to be in high demand as new businesses are established in emerging economies.

Key Takeaways

The digital vault market is expected to reach a valuation of US$ 2.5 Billion by 2032.
As a major powerhouse of advanced technology and early adopter of some of its latest products, North America is likely to hold the largest share of the market for digital vaults.
The market for consulting services in digital vault will grow at a CAGR of 11.8% during the forecast period.
Japan market size is projected to reach US$ 168 Million by 2032, at a growth rate of 11.8% over the forecast period.
According to the forecast, the solutions digital vault market is expected to grow at a CAGR of 11.8%.

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Competitive Landscape

As per the global digital vault market study, with significant suppliers such as Johnson Controls, CyberArk, IBM, Oracle, Hitachi, Micro Focus, Fiserv, Symantec, Microsoft, Multicert, Keeper Security, Accruit, DSwiss, ENC Security, TokenEx, Logic Choice, Eclypses, HarshiCorp, Insoft Infotel Solutions, Daxtech, IT Solutions, eOrigina, LexTrado, OPSWAT and FutureVault the digital vault industry is moderately fragmented. In order to gain a competitive advantage, the companies rely on strategic collaboration activities and acquisitions to broaden their client base and gain market share.

IoT Device Manager from DigiCert will be used by Johnson Controls to help improve smart building cybersecurity, manage digital identities, and build Public Key Infrastructure (PKI) in May 2021. DigiCert ONE is the perfect platform for building smart buildings that provides advanced secure connectivity.
In June 2021, CyberArk announced improvements to its CyberArk Identity Security Platform. Cloud and hybrid environments have been enhanced with these advancements, providing broader protection and secure access to high-risk systems. CyberArk delivers this cloud-based service for protecting both machine and human identities.Customers running CyberArk software on-premises, in their own cloud, or managed by CyberArk have access to the new shared services.

Key Companies Profile

Johnson Controls
CyberArk
IBM
Oracle
Hitachi
Micro Focus
Fiserv
Symantec
Microsoft
Multicert
Keeper Security
Accruit
DSwiss
ENC Security
TokenEx
Logic Choice
Eclypses
HarshiCorp
Insoft Infotel Solutions

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Key Segments Covered in the Digital Vault Industry Survey

Digital Vault by Component

Digital Vault Solutions
Digital Vault Services

Digital Vault by Services

Digital Vault Consulting
Digital Vault Design and Implementation
Digital Vault Support and Maintenance
Managed Digital Vault Services

Digital Vault by Organization Size

Digital Vault for Small and Medium-Sized Enterprises
Digital Vault for Large Enterprises

Digital Vault by Vertical

Digital Vault for Banking, Financial Services, and Insurance
Digital Vault for IT and Telecommunication
Digital Vault for Government and Public Sector
Digital Vault for Real Estate
Digital Vault for Defense
Digital Vault for Other Verticals (Legal and Non-Profit Organizations)

Digital Vault by Region

North America Digital Vault Market
Latin America Digital Vault Market
Europe Digital Vault Market
APAC Digital Vault Market
Middle East & Africa Digital Vault Market

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