Enterprise Information Archiving Market Size, Share, Upcoming Trends, Segmentation, Key Companies, Regional Outlook & Forecast - 2027

Enterprise Information Archiving Market by Type (Content Type (Email, Database, Social Media, Instant Messaging, Mobile Communication) and Services), Deployment Mode, Organization Size, Vertical & Region - Global Forecast to 2027.
The global enterprise information archiving market [https://www.marketsandmarkets.com/Market-Reports/enterprise-information-archiving-market-253224202.html?utm_campaign=paidpr&utm_source=abnewswire&utm_medium=referral] size is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period, to reach USD 12.9 billion by 2027 from USD 6.4 billion in 2022. The growth in the enterprise information archiving market has been impelled due to the increasing need for cost-effective storage solutions for inactive data to meet compliance and legal requirements. Another growth driving factor for the enterprise information archiving market is the demand for improved business processes through the segregation of less valuable data from the online enterprise data. Further, cloud-based archiving creates new growth opportunities in the enterprise information archiving market.

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Content Type segment to grow at the higher CAGR during the forecast period

The Content type segment for enterprise information archiving market is expected to grow at a higher CAGR. Various industry enterprises demand archiving solutions as per their content type from enterprise information archiving solution providers. The content types include structured and unstructured data that is generated by an enterprises' IT infrastructure. Enterprise information archiving vendors offer enterprise information archiving solutions as per content types that include email, database, social media, instant messaging, web, mobile communication, and file and EFSS.

SMEs segment to grow at the highest CAGR during the forecast period

Enterprises with less than 1,000 employees are considered under the SMEs segment. Maximum productivity and reduced cost are crucial factors for these enterprises, as they have limited budgets to keep track of stored enterprise information. Hence, these enterprises take advantage of the freely available public cloud storage or limited on-premises enterprise information archiving solutions. SMEs have a lower volume of enterprise data generated as compared to large enterprises. This saves the overall cost required related to installing enterprise information archiving solutions. The implementation of the enterprise information archiving solution is expected to result in better and secure monitoring of indoor and outdoor places.

BFSI industry vertical to grow at the highest CAGR during the forecast period

Financial service institutes and enterprises are continuously facing problems to meet regulatory compliance requirements defined by various regulatory bodies, such as Financial Industry Regulatory Authority (FINRA), SEC, Federal Financial Institutions Examination Council (FFIEC), Federal Deposit Insurance Corporation (FDIC), and Dodd-Frank Act. These regulations ensure financial service organizations work according to standards and maintain fair transactions with customers. This helps financial service organizations effectively communicate with customers, monitor, and preserve all communications done through emails, social media, or mobile communications. To accomplish this, financial services organizations need to incorporate solutions, which can capture, archive, and provide easy access to the required information, enabling the organization to respond to an agency information request.

North America to account for the highest market share during the forecast period

The enterprise information archiving market is segmented into five regions: North America, Europe, APAC, MEA, and Latin America. The enterprise information archiving report provides insights into these regional markets in terms of market size, growth rates, future trends, market drivers, and COVID-19 impact. North America is expected to hold the highest market share in the overall enterprise information archiving market during the forecast period. Following North America, Europe is expected to hold the second-highest market share during the forecast period. The presence of significant players in the region and the rising adoption of cloud based solutions is expected to drive the market in North America. Europe and MEA are also expected to witness high growth rates during the forecast period.

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Unique Features in the Enterprise Information Archiving Market

The ability of the Enterprise Information Archiving (EIA) market to manage a wide variety of data types completely is one of its distinctive advantages. EIA solutions guarantee that all pertinent data is recorded and preserved by archiving emails, files, instant chats, social media posts, and other digital interactions.

Organizations need EIA solutions in order to comply with a variety of regulatory regulations. Strict laws like GDPR, HIPAA, and FINRA that govern data preservation, access, and privacy apply to different businesses. EIA systems are made to make sure that information is kept safe and accessible for legal actions and audits, in compliance with these rules. Being ready legally is important since breaking the law can lead to serious consequences and harm to one's reputation.

Another unique feature of the EIA market is the efficiency with which archived data can be searched and retrieved. Advanced EIA solutions offer powerful search capabilities, allowing users to quickly locate specific documents, emails, or other records. These solutions often include features like metadata indexing, full-text search, and automated tagging, which streamline the retrieval process. This efficiency is particularly valuable during legal discovery, audits, and internal investigations, where timely access to information is critical.

EIA systems provide cost-effective storage solutions by utilizing technologies such as deduplication, compression, and tiered storage. These technologies help reduce the overall storage footprint by eliminating redundant data and compressing files, leading to significant cost savings. Additionally, tiered storage allows organizations to store less frequently accessed data on cheaper storage media, optimizing storage costs without compromising accessibility. This cost-effective approach to data storage is a key feature of the EIA market.

Ensuring the integrity and security of archived data is a fundamental feature of the EIA market. EIA solutions incorporate robust security measures such as encryption, access controls, and audit trails to protect sensitive information from unauthorized access and tampering. These measures help maintain the integrity of the data, ensuring that it remains accurate and unaltered over time. Data integrity and security are paramount, particularly for organizations handling confidential and sensitive information.

Major Highlights of the Enterprise Information Archiving Market

The market for enterprise information archiving (EIA) is distinguished by its strong backing for legal preparedness and regulatory compliance. EIA solutions guarantee that companies can adhere to strict data retention laws in a variety of industries, including FINRA, GDPR, and HIPAA. Comprehensive capabilities for handling eDiscovery procedures, legal holds, and data preservation policies are offered by these systems.

The EIA market's emphasis on data security and integrity is one of its main features. To prevent unwanted access and manipulation, EIA systems include extensive security features including encryption, access controls, and audit trails. These precautions guarantee the long-term security and integrity of archived data, protecting the organization's priceless information assets.

EIA solutions offer cost-efficient data storage capabilities by employing technologies like data deduplication, compression, and tiered storage. These technologies reduce the overall storage footprint by eliminating redundant data and compressing files, leading to significant cost savings. Additionally, tiered storage allows organizations to store infrequently accessed data on more economical storage media, optimizing storage costs while ensuring data remains accessible when needed. This cost-efficiency makes EIA solutions an attractive investment for businesses looking to manage their growing data volumes effectively.

The scalability and flexibility of EIA solutions are key highlights that cater to the dynamic needs of organizations. EIA systems can seamlessly scale to accommodate increasing data volumes, making them suitable for organizations of all sizes and sectors. Furthermore, they offer flexible deployment options, including on-premises, cloud-based, and hybrid models. This adaptability allows organizations to choose the deployment strategy that aligns with their infrastructure, budget, and strategic goals, ensuring long-term viability and scalability of their archiving solutions.

EIA solutions are renowned for their advanced search and retrieval capabilities, enabling users to quickly locate specific documents, emails, and other records. These solutions typically feature metadata indexing, full-text search, and automated tagging, which streamline the data retrieval process. The ability to efficiently search and retrieve archived data is particularly valuable during legal discovery, audits, and internal investigations, where timely access to information is critical for decision-making and compliance.

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Top Companies in the Enterprise Information Archiving Market

The enterprise information archiving market comprises major providers, such as Microsoft (US), HPE (US), IBM (US), Google (US), DELL (US), Veritas (US), Barracuda (US), proofpoint (US), Smarsh (US), Mimecast (UK), ZL Technologies (US), Global Relay (Canada), Micro Focus (UK), OpenText (Canada), Commvault (US), Solix (US), Archive360 (US), Everteam (France), Pagefreezer (Canada), Jatheon (Canada), Unified Global Archiving (US), Hornetsecurity (Germany), SKYSITE (US), Zovy Archiving Solutions (US), txtsmarter (US), SPAMBRELLA (US), THETA LAKE (US), Mithi (India), Odaseva(US), Mirrorweb (UK), Bloomberg (US). The study includes an in-depth competitive analysis of key players in the enterprise information archiving market with their company profiles, recent developments, COVID-19 developments, and key market strategies.

The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers and acquisitions, have been the most dominating strategies adopted by the major players from 2019 to 2022, which helped them strengthen their offerings and broaden their customer base.

OpenText is an eminent player in information archiving market. The company helps organizations securely capture, govern, and exchange information on a global scale. Its products and solutions offerings include cloud, digital experience, digital process automation, business network, ECM, discovery, security, and AI and analytics. Under its ECM products the company offers Enterprise Information Archiving solution. The Enterprise information Archiving solution offers OpenText InfoArchive, OpenText Core Archive for SAP Solutions, and OpenText Archive Center. InfoArchive allows data and content to be archived, managed in accordance with compliance policies and remain accessible to users. The product is enterprise archiving platform for preserving both structured and unstructured data sources, irrespective of the archive method.

OpenText caters its solutions and services to different verticals, such as automotive, engineering, construction, and operations, financial, healthcare, insurance, legal, life sciences, manufacturing, media and entertainment, utilities, and government and public sectors. The company caters to a broad customer base of about 46,000 across 27 countries. It operates globally through its offices based in the Americas, Europe, MEA, and APAC.

Solix is a big data application provider company that empowers data-driven enterprise with optimized infrastructure, data security, and advanced analytics by achieving Information Lifecycle Management (ILM) goals. The company is specialists in Database Archiving, Test Data Management, Data Masking, Application Retirement, Managed Services, Common Data Platform, Enterprise Archiving, Enterprise Data Lake, Big Data Suite, and ILM. The company offers SOLIXCloud Enterprise Archiving a complete suite of archiving applications including Application Retirement, Database Archiving, Email Archiving, and File Archiving to manage enterprise data growth. Solis has its operations across the globe via Value Added Resellers (VARs) and systems integrators. The company has offices in the US, the UK, the UAE, India, Australia, China, Brazil, and Mexico across all regions.

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