Key Market Insights
“Growing impact of disruptive technologies to increase adoption of the enterprise information archiving solutions will boost the market”
The global Enterprise Information Archiving (EIA) Market is growing proficiently, projected to grow at a CAGR of 12.5% during the expected period from 2023 to 2030, from US$ 7,977.9 Mn in 2021.
In recent years, the size of useful data in an organization has increased tremendously to zettabytes (one billion terabytes) with the 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 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 the need for data retention for regulatory compliances, and increasing demand for business performance are the factors driving the EIA market. Different regulatory compliances across the globe has made information archiving difficult for service providers. Modification of data is not possible once it is archived would have an impact on EIA market. Searching for unstructured data is difficult as indexing of metadata is still a challenge for the technology providers. The absence of standardized products for data types such as e-mail, documents, and video would further hinder the growth of the 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 the high cost and increased theft risk.
Market Synopsis
Enterprise Analysis
“Rising potential markets to provide high-growth for data storage will drive the demand for enterprise information archiving globally”
The adoption of enterprise information archiving solutions among large enterprises is higher, owing to the increased generation of data, which is attributed to the widespread geographical presence and customer base. There is an increasing demand for enterprise information archiving solutions. These solutions optimize the storage of information resources, lower the risks, improve enterprise efficiency, and maintain transparency of the enterprise. Additionally, these solutions reduce the risks associated with enterprise information recovery during disasters. They also improve the process of information retrieval requested from the user’s end.
Regional Analysis
“Dominance is led by rising IT industries coupled with intensifying government mandates and investments towards record storage to drive the market growth.”
North America is expected to hold the largest market size of the Enterprise Information Archiving (EIA) Market. The region has been the most forward region in adopting enterprise information archiving solutions. This region has been extremely responsive toward adopting the latest technological advancements, such as integration technologies with Artificial Intelligence (AI), cloud, and mobile technologies within traditional enterprise information archiving solutions. The major growth driver for this region is the presence of rigorous government standards and regulations framed for various industries. In specific, the U.S. and Canada are quickly embracing business information file storage alternatives as there are significant advances in the region's digital techniques, leading to the implementation of fresh and stringent electronic information laws.
List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Enterprise Information Archiving (EIA) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
