May 28, 2020
As per the report titled ‘Global Enterprise Information Archiving Market Size study, by Type (Content Types and Services), Deployment Mode (Cloud and On-Premises), by Enterprise Size (Small and Medium-Sized Enterprises and Large Enterprises), by Vertical (Government and Defense, Banking, Financial Services and Insurance, Retail and Ecommerce, Education and Research, Healthcare and Pharmaceutical, Manufacturing, Media and Entertainment, IT and Telecommunications and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global enterprise information archiving market share was worth USD 5 billion in 2019 and is projected to expand at 13.5% CAGR through 2026.
Enterprise information archiving is a virtual data repository that stores both structured and unstructured data by using cost-effective low power consuming archive storage devices such as cloud storage systems and tape libraries. Structured data incudes alphabets and numbers which can be easily processed, and stored, whereas unstructured data comprises of email, audio, images, and video files.
Burgeoning amount of enterprise data across several end-users, strict legal outlook, and surging demand for cost-efficient storage solutions for inactive enterprise data are fueling the growth of global enterprise information archiving market.
Furthermore, increasing advancements and emergence of new solutions for enterprise information archiving by industry leaders are expected to propel the industry growth in the coming years. For instance, in June 2019, Solix Technologies launched the SOLIXCloud that enables enterprises to store file servers and e-mail, databases, and even transfer legacy application data to the cloud. The growing accessibility to a wide number of enterprise information archiving solutions offered by the market majors will further enhance the market outlook.
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On the contrary, lack of awareness of enterprise information archiving and prevailing dependence on traditional means for managing business related data is projected to hinder the industry growth over the forecast period.
Considering the regional outlook, the market is segregated into North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America accounts for a considerable market share and is expected to see modest gains over the projection period, owing to paradigm shift of business to Cloud, and a well-established presence of major players in the region.
Asia Pacific enterprise information archiving market is slated to experience substantial growth over the estimated timeframe. Increasing digitalization of numerous small and medium enterprises is supporting the regional market expansion.
Key players operating in global enterprise information archiving market are Hewlett Packard Enterprise (Hpe), Microsoft Corporation, IBM Corporation, Google LLC, Dell, Barracuda Network, Veritas Software, Proofpoint Inc., Mimecast, and Smarsh.