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Leading Growth Driver in the Digital Vault Market in 2025: Rising Cyberattacks Drive Growth In The Digital Vault Market Driver's Influence
Digital Vault Market Size
The rise in cyberattacks is anticipated to stimulate the expansion of the digital vault market in the future. Cyberattacks are malevolent attempts made by individuals or organizations to interfere with, destroy, or illicitly access computer systems, networks, or digital devices. The increase in these attacks is attributed to the wide spread of technology, insider threats, distance working, increased internet usage, and a lack of knowledge. Digital vaults play a crucial role in cyber defense, hindering security breaches through tactics such as encryption, access controls, frequent security assessments, staff training, and the use of multi-factor authentication. For example, the Australian Cyber Security Centre reported receiving 76,000 cybercrime reports in November 2022, marking a 13% increase from the previous year. Consequently, the mounting frequency of cyberattacks is propelling the digital vault market's advancement.
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How will the growth rate of the digital vault market shape industry trends by 2034?
The substantial increase in the size of the digital vault market in the past few years is evident. This market will escalate from $1.11 billion in 2024 up to $1.3 billion in 2025, following a compound annual growth rate (CAGR) of 16.9%. The historical growth phase owes its success to factors such as the increase in data breach cases, surge in digital assets, expansion of remote work, escalating cyber threats, and the explosion of mobile device use.
The digital vault market is predicted to experience a swift expansion over the coming years, hitting a value of $2.4 billion by 2029, with a compound annual growth rate (CAGR) of 16.6%. The surge during this forecast period is expected due to the escalating demand for data security compliance, user experience focus, the emergence of quantum-safe encryption, a surge in online transactions, and increased worry regarding data protection from interconnected devices. Foreseeable trends within this period encompass digital transformation, encryption advancements, adoption of cloud-based solutions, integration of emerging technologies, secure storage solutions, digital transactions, adoption of biometric authentication, and end-to-end encryption.
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What are the emerging trends shaping the future of the digital vault market?
Leading firms in the digital vault market are concentrating their efforts on creating innovative technology solutions such as digital vault software to boost data protection and safeguard confidential information. The digital vault software is a fortified and encrypted system or software formulated to store, oversee, and safeguard sensitive digital assets such as files, documents, passwords, and cryptographic keys. For example, Wolters Kluwer N.V., an international information services company based in Netherlands, launched OmniVault for Real Estate Finance in May 2022. This platform, built on eVault technology, backs digital home equity lending, including home equity loans and HELOCs, in addition to traditional mortgages. This digital solution or platform is custom-built to fulfil the demands of real estate finance experts, providing functions like document management, compliance monitoring, and potentially even analytics or reporting tools. Likewise, it facilitates standards-based SSO (Single Sign-On) using SAML (Security Assertion Markup Language), openID Connect, and active directory federation services. Omnivault solutions' varied features, such as secure password management, information security, single-sign-on authentication, and keychain functionality, are showcased through these facets.
Which primary segments of the digital vault market are driving growth and industry transformations?
The digital vault market covered in this report is segmented -
1) By Type: Services, Solutions
2) By Deployment: On-Premise, On-Cloud
3) By Organization Sizes: Small And Medium Organizations, Large Organizations
4) By End-Users: Information Technology (IT) And Telecommunications, Banking, Financial Services And Insurance (BFSI), Retail, Power And Utilities, Government, Aerospace And Defense, Healthcare, Other End-Users
Subsegments:
1) By Services: Cloud Storage Services, Data Encryption Services, Backup And Recovery Services, Security And Compliance Services
2) By Solutions: Digital Identity Management Solutions, Digital Asset Protection Solutions, Secure Data Sharing Solutions, Digital Vault Software Solutions
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Which geographical regions are pioneering growth in the digital vault market?
North America was the largest region in the digital vault market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital vault market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the digital vault market landscape?
Major companies operating in the digital vault market report are Microsoft Corporation; Hitachi Ltd.; International Business Machines Corporation; Oracle Corporation; Broadcom Inc; Johnson Controls International plc; Fiserv Inc; Wolters Kluwer N.V.; Iron Mountain Incorporated; OpenText Corporation; Micro Focus International plc; NortonLifeLock Inc.; Veritas Technologies LLC; CyberArk Software Ltd; Insoft Infotel Solutions; HarshiCorp; Keeper Security Inc.; DigiCert Inc.; OPSWAT Inc; Multicert S.A.; TokenEx; Eclypses Inc.; Daxtech IT Solutions; Lextrado Legal Exchange; FutureVault Inc.; Accruit Holdings LLC.; Logic Choice Technologies; DSwiss AG; Safe4 Information Management Limited; ENC Security
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What Is Covered In The Digital Vault Global Market Report?
• Market Size Forecast: Examine the digital vault market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the digital vault market for a structured understanding.
• Key Players Overview: Analyze major players in the digital vault market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the digital vault market.
• Segment Contributions: Evaluate how different segments drive overall growth in the digital vault market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the digital vault market.
• Industry Challenges: Identify potential risks and obstacles affecting the digital vault market.
• Competitive Landscape: Review strategic developments in the digital vault market, including expansions, agreements, and new product launches.
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