Press release
Archiving Software Market to Develop Rapidly by 2027
Archiving software or file archiver is a computer application which aids in combining a number of files into single archive file or number of archive files. Different files containing data which are not in current use and will be required for future reference, data from these files can be concatenated into archives. The archives will store metadata, the names and lengths of the files been archived. Additional information can be stored such as timestamps, metadata, file attributes, and more. These data archives are indexed in a manner that part of file or data can be searched and retrieved.
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Archiving Software Market: Market Dynamics
Increasing adoption of cloud services involving archiving is driving the demand of archiving software market. As companies continue to move production data to public cloud services, the demand for public cloud archiving software is expected to increase. Moreover, with increasing usage of public cloud services for data storage by companies, the requirement for backup creates demand for software providing second copies including archiving software. This will result in maintaining diverse data sets across multiple cloud servers, so as to minimize the risk of data loss.
Regional Overview
On the basis of geography, archiving software market can be segmented into seven key markets namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. North America region is expected to dominate the market of archiving software because of established banking and IT sector in the region. North America region is expected to be followed by Western Europe and APEJ. APEJ is expected to drive the demand for archiving software, supported by established IT and banking sector in countries such as India, China and ASEAN.
Increasing usage of cloud services for data storage, increasing amount of data to be stored, the requirement for data backups etc. are some factors driving the demand of archiving software market. Cost reduction of these archiving software is also expected to boost the demand for archiving software market. However, factors affecting the demand for archiving software includes the availability of alternative technologies such as storage virtualization, older archiving applications etc.
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Competitive Landscape
Major players in the field of archiving software include Hewlett-Packard Enterprise Company, Symantec Corporation, NetApp, Inc., International Business Machines Corporation Company (IBM), Jatheon Technologies Inc., AXS-One Inc. etc.
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