Press release
Global Enterprise Information Archiving Market to Reach $19.74 Billion by 2029, Growing at 0.169223982220874% CAGR
The continuous surge in data generated each year is projected to fuel the expansion of the enterprise information archiving market. The term data refers to digitally stored information on computers and other data storage technologies like the cloud or blockchain. At present, there is a significant growth in the size of data sets, including bytes, terabytes, and petabytes. Enterprise information archiving solutions aid in managing this vast amount of information more efficiently and meeting compliance objectives with greater ease. For example, WP Dev Shed, a webmaster's company based in New Zealand, reported that in July 2022, 2.5 quintillion bytes of data are generated daily. The data usage is anticipated to reach 97 zettabytes globally by the end of 2022. Furthermore, this data usage trend is expected to continue and reach 175 zettabytes by the close of 2025. Hence, the escalating data volumes at enterprises stimulate growth in the enterprise information archiving market.
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What Is the projected market size and growth rate for the enterprise information archiving market?
The scale of the enterprise information archiving market has seen considerable acceleration lately. Its growth is projected to soar from a volume of $9.48 billion in 2024 to $10.56 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.4%. The expansion observed in the past is linked to factors such as increased desire for data preservation for adherence to regulations and enhancing business performance, augmented operational efficiency, growing propensity towards cost-efficient storage procedures, obligatory data retention, and growing concerns about data security and privacy.
In the coming years, the enterprise information archiving market is projected to experience substantial growth. The market is forecasted to expand to $19.73 billion in 2029, with a compound annual growth rate (CAGR) of 16.9%. The anticipated growth within this period can be associated with the rising need for data retention to comply with legal governance rules, promising opportunities emanating from emergent countries, the favourable effects of COVID-19 on the worldwide enterprise information archiving market, increased global data volume, and the application of technological solutions for the process of digitalization. Significant trends for the forecast period encompass integration with collaboration platforms, the use of immutable storage for data conservation, the utilization of blockchain technology for ensuring data integrity, classification of content via machine learning, and consolidation of hybrid deployment models.
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What new trends are reshaping the enterprise information archiving market and its opportunities?
Innovative technologies are emerging as a prominent trend in the enterprise information archiving sector. Predominant businesses in this sector are adopting and implementing state-of-the-art technologies, such as software solutions, to cement their stand in the market. For example, in March 2024, NICE Actimize, an American firm specializing in risk, financial crime, and compliance solutions, rolled out ARCHIVE-X. This comprehensive cloud-based solution for archiving communications and managing records is specifically designed for financial services firms. The purpose of this new platform is to boost regulatory compliance by securely storing various forms of communication, like emails, chats, voice, and video, in a unified system. This solution uses advanced data encryption technology and complies with regulatory standards such as WORM (Write Once Read Many) archiving, ensuring high-grade data security and integrity.
What major market segments define the scope and growth of the enterprise information archiving market?
The enterprise information archiving market covered in this report is segmented -
1) By Type: Email, Social Media, Web, Mobile Communications, Database.
2) By Deployment Type: On-Premises, Cloud.
3) By Organization Size: Large Enterprises, SMEs.
4) By Service: Planning And Consulting Services, System Integration, Training And Support Services, Operations And Maintenance Services, Data Migration.
5) By Vertical: Government And Defense, BFSI, Retail And Ecommerce, Education And Research, Healthcare And Pharmaceutical, Manufacturing, Media And Entertainment, IT And Telecommunications, Other Verticals
Subsegments:
1) By Email: On-premises, Cloud-based
2) By Social Media: Public Social Media Platforms, Private Social Networks
3) By Web: Static Website Archiving, Dynamic Website Archiving
4) By Mobile Communications: SMS Archiving, Instant Messaging Archiving
5) By Database: Structured Data Archiving, Unstructured Data Archiving
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Which region dominates the enterprise information archiving market?
North America was the largest region in the enterprise information archiving market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise information archiving market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the enterprise information archiving industry growth?
Major companies operating in the enterprise information archiving market include Atos SE, Barracuda Networks Inc., Dell Technologies Inc., Google LLC, Veritas Technologies LLC, Commvault Systems Inc., Proofpoint Inc., Mimecast Limited, Smarsh Inc., Global Relay Communications Inc., Micro Focus International plc, ZL Technologies Inc., Microsoft Corporation, International Business Machines Corporation., GFI Software, MailStore Software GmbH, TransVault Limited, Waterford Technologies Inc., ArcMail Technology Inc., Quest Software Inc., Jatheon Technologies Inc., MailArchiva
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What Is Covered In The Enterprise Information Archiving Global Market Report?
•Market Size Forecast: Examine the enterprise information archiving market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the enterprise information archiving market for a structured understanding.
•Key Players Overview: Analyze major players in the enterprise information archiving market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the enterprise information archiving market.
•Segment Contributions: Evaluate how different segments drive overall growth in the enterprise information archiving market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the enterprise information archiving market.
•Industry Challenges: Identify potential risks and obstacles affecting the enterprise information archiving market.
•Competitive Landscape: Review strategic developments in the enterprise information archiving market, including expansions, agreements, and new product launches.
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