Enterprise Information Archiving Market - Segment, Forecast, Trends 2024
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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Enterprise Information Archiving Market: Segmentation
EIA can be segmented on the basis of content type such as e-mail and social media amongst many and deployment type such as on-premise, hosted and cloud. The on-premise has storage location and management in the company itself, in hosted segment the archives are located in the service provider’s centers and in cloud segment the cloud storage is used for storing archives. EIA has a strong presence in North America market, followed by Europe and Asia Pacific market, due to stringent government standards and regulations formulated for various sectors and high adoption rate of cloud technology.
Enterprise Information Archiving Market: Trends and Regulatory Overview
In recent years, the size of useful data in an organization has increased tremendously to zettabytes (one billion terabytes) with majority being unstructured data. The organizations need to manage this huge amount of data which can be done with the support of EIA. EIA would enable the organizations with regulatory compliance for data retention, increased operational productivity, authorized access to information and cost reduction for data backup. Rising demand for cost effective storage processes, increasing need for data retention for regulatory compliances and increasing demand for business performance are the factors driving the EIA market.
Enterprise Information Archiving Market: Restraints
Different regulatory compliances across globe has made information archiving difficult for the service providers. Modification of data is not possible once it is archived would have an impact on EIA market. Searching of unstructured data is difficult as indexing of metadata is still a challenge for the technology providers. Absence of standardized product for data types such as e-mail, documents and video would further hinder the growth of market. Restoration of data would require an isolated environment as it could affect the current data. Cloud deployment of the archived data could have issues such as security, privacy and limited control of infrastructure whereas on-premise deployment could lead to high cost and increased theft risk.
Enterprise Information Archiving Market: Key Players
The major participants in the enterprise information archiving market include companies such as Actiance Incorporation, Barracuda Networks Incorporation, Bloomberg L.P., Commvault Systems Inc., Global Relay Communications Inc., Google Incorporation, International Business Machine (IBM) Corporation, Microsoft Corporation, Mimecast and Veritas Software Corporation.
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