About This Report

Enterprise Information Archiving Market, by Type (Content Types, and Services), By Deployment Mode (On-Premise, and Cloud), By Enterprise Size (Large Enterprises, and Small and Medium-Sized Enterprises), By End User (Retail and Ecommerce, Banking, Financial Services and Insurance, Healthcare and Pharmaceutical, Government and Defence, Manufacturing, and Others), and by Region (North America, South America, Europe, Asia Pacific, The Middle East, and Africa) - Size, Share, COVID Impact Analysis, Growth, Outlook, and Opportunity Analysis, 2020 - 2028

Enterprise information archiving (EIA) is the process of methodically gathering, protecting, and managing data and information assets for the purpose of long-term retention and compliance. The usage of specialised software and hardware solutions for EIA often entails the ability to collect and store data from a variety of sources, including email systems, file servers, databases, social media, and other digital channels. Organisations including financial institutions, healthcare providers, and governmental bodies that are subject to legal requirements or legal action risk should pay particular attention to EIA. In terms of data retention, e-discovery, and audit trail reporting, it can assist these organisations in sticking to legal and regulatory standards. By offering a centralised location for the administration and access of data assets, it might help organisations in strengthening their information governance procedures.

In 2020, the Enterprise Information Archiving market was valued at US$ YY million, and it is anticipated to be around US$ YY million by 2027. Over the forecast period, the market is expected to grow at a CAGR of YY%.

Increasing volume of data, and growth in cloud-bases solutions are the main drivers, but the data security concerns is a restraint

The increasing amount of data that businesses are producing is one of the key factors driving the market for enterprise information archiving. Organisations are producing enormous volumes of data that must be safely handled, stored, and accessed owing to the expansion of digital devices, the internet of things (IoT), and the rise of social media. For instance, Due to the COVID-19 pandemic in 2021, telehealth usage surged and healthcare organisations generated enormous amounts of patient data. Information archiving systems must be effective and scalable in order to handle and maintain this data securely.
Another factor is the expansion of cloud-based services, which provide many advantages like cost savings, adaptability, and scalability. Since users may access data from any location with an internet connection, cloud-based solutions can help increase accessibility and cooperation. For instance, Zoom Video Communications has seen an increase in usage recently. Many organisations now use the platform for distant work and collaboration. In order to manage the amount of data being produced, zoom used cloud-based solutions, highlighting the significance of scalable and adaptable information archiving systems. Adding to this, OpenText announced the introduction of their brand-new cloud-based information archiving service in August 2021, providing users with a scalable and adaptable platform for managing and preserving data.

However, worries about data security continue to be a significant barrier for the market for enterprise information archiving. Organisations must take action to guarantee the security and privacy of their data as data breaches and cyberattacks are growing more frequent. To prevent unauthorised access or data theft, this involves adopting robust access restrictions, encryption, and other security measures. For instance, The Colonial Pipeline's IT system was the target of a large ransomware attack in 2021, which caused fuel supply interruptions in the eastern United States. This incident highlighted the need for thorough data security processes to protect against cyber threats.

BFSI segment is expected to account for significant market share by end-user segment

The global Enterprise Information Archiving market is mainly classified based on Type, Enterprise size, and End-User. On the basis of Type, the market is divided into content types, and services. Content type is further classified into database, e-mail, social media, web, mobile communication, instant messaging, and file and enterprise file synchronisation and sharing. By Deployment mode, the market is segmented into On-premise, and cloud. On the basis of Enterprise size, the segment is classified into large enterprise, and small and medium-sized enterprises. By End-User, the market is categorized into retail and commerce, BFSI (Banking, Financial Services, and Insurance), healthcare and pharmaceuticals, government and defence, manufacturing, and others.

On the basis of End-user segment, BFSI (Banking, Financial Services, and Insurance) grabbed the top position in the market share globally. The BFSI sector, which deals with a significant amount of sensitive data, such as financial transactions, customer information, and regulatory compliance data, is mostly responsible for this. As a result, there is an increasing demand for efficient information archiving solutions to make sure that this data is securely preserved, readily accessible, and consistent with standards. For instance, The Financial Conduct Authority (FCA) of the UK published a consultation paper in December 2020 suggesting new regulations that would compel financial institutions to record and retain for at least five years all telephone and electronic communications linked to trading activity. This is an obvious indication of the BFSI industry's growing regulatory emphasis on data storage and management. The BFSI industry must also comply by a number of laws, including the Sarbanes-Oxley Act, the Dodd-Frank Act, and the General Data Protection Regulation (GDPR), which boosts demand for enterprise information archiving solutions. Enterprise information archiving solutions are widely used by other sectors, including healthcare, government, and manufacturing, but BFSI is anticipated to command a considerable share of the market.

Interesting Facts of Enterprise Information Archiving Market

• In terms of deployment type, the global market for enterprise information archiving is dominated by on-premise deployment. Organisations with on-premise deployment have more control over their data and IT infrastructure, which may be crucial for those in heavily regulated sectors with stringent compliance standards.
• In the global market for enterprise information archiving, large businesses are anticipated to hold a significant market share. This is primarily because major organisations deal with enormous amounts of data every day, demanding efficient information archiving and management to enable legal discovery, regulatory compliance, and knowledge management.
• Content type segment is anticipated to command a significant market share in the forecast period. This is mostly due to the fact that businesses and organisations work with a wide range of content types, including emails, social media, web pages, instant messaging, mobile communications, and enterprise file syncing and sharing (EFSS).
• The Asia Pacific (APAC) region is one of the global markets where enterprise information archiving solutions are growing at the fastest rate. The broad usage of cloud-based solutions is one of the major reasons boosting the enterprise information archiving market in the APAC region.

North America will account for the largest share of the Enterprise Information Archiving industry

North America holds the greatest market share in the world for enterprise information archiving systems in the forecast period. Microsoft, IBM, and Dell Technologies are just a few of the major companies based in the area that are active in the enterprise information archiving sector. These enterprises provide a broad range of archiving solutions created to fulfil the requirements of businesses and organisations in a variety of sectors, including BFSI, healthcare, government, and retail.

The growing use of cloud-based solutions is one of the major factors driving the North American enterprise information archiving industry. There is an increasing need for efficient and secure information archiving solutions that can be connected with cloud platforms as more companies and organisations in the area migrate to the cloud. For instance, Microsoft announced in 2021 that its popular cloud-based collaboration platform, Microsoft Teams, would include its Advanced eDiscovery service. Adding to this, Google Vault is a cloud-based archiving tool that aids companies and organisations in managing their data archiving and eDiscovery requirements in North America and other locations. Businesses may quickly archive and search data from a variety of sources, such as emails, chats, and files, using Google Vault.

Global Enterprise Information Archiving Market key Players:

Some of the major competitors in the global Enterprise Information Archiving market include AeroFarms LLC, Chef's Garden Inc., FarmBox Greens, Goodleaf Farms, Greenbelt Enterprise Information Archiving, Living Earth Farm, Madar Farms, Jiangsu Skyplant Greenhouse Technology Co. Ltd, Shanghai Dehuan Industry Co. Ltd, and Metro Enterprise Information Archiving.
The Enterprise Information Archiving industry is extremely competitive with aggressive market strategies of global and regional companies looking to strengthen market position through new product launches, collaborations, and facility expansions. The following are some recent market developments:

• In February 2023, Microsoft made the announcement that it would buy Archivas, a company that offers cloud-based information archiving solutions. Microsoft's position in the market for enterprise information archiving is anticipated to be strengthened by the acquisition, which will also improve its cloud-based services.
• IBM introduced IBM Archive, a new enterprise information archiving solution, in January 2023. The solution is intended to assist organisations in managing, preserving, and adhering to regulatory obligations for their important business data.
• Mimecast, a well-known supplier of email security and archiving solutions, formed a cooperation with Google Cloud in December 2022 to offer its archiving services to Google Workspace users. The collaboration is anticipated to increase Mimecast's clientele and fortify its position in the enterprise information archiving industry.
• In November 2022, Commvault introduced a new enterprise information archiving solution called Commvault Archive. Organisations can use the solution to manage their data and adhere to regulatory standards.
• Veritas Technologies, a well-known supplier of data management and protection solutions, said in October 2022 that it has joined forces with Google Cloud to offer its information archiving services to users of Google Workspace. The collaboration is anticipated to increase Veritas' clientele and fortify the company's position in the enterprise information archiving industry.
• Micro Focus revealed the official launch of its new ArcSight cloud platform in June 2021, providing users with a scalable and adaptable platform for managing security data and event data.

Frequently asked questions about global Enterprise Information Archiving Market

Q: What is the current size of the global Enterprise Information Archiving market?
Ans: The Enterprise Information Archiving market was valued at YY million US$ in 2020 and is projected to reach YY million US$ by 2027, at a CAGR of YY% during the forecast period.

Q: What are the major opportunities in Enterprise Information Archiving industry?
Ans: The widespread use of cloud-based solutions, a rising appetite for archiving solutions that are adaptable and effective, and growing demands for regulatory compliance are the three main opportunities for growth in the enterprise information archiving market.

Q: What is major growth driving factor for Enterprise Information Archiving industry?
Ans: The increase of cloud-based solutions and the volume of data generated by businesses are the two main growth drivers for the enterprise information archiving market.

Q: Which region is expected to have the largest share of the Enterprise Information Archiving market?
Ans: North America is expected to lead the market for enterprise information archiving.

Q: Which enterprise size segment will dominate the Enterprise Information Archiving market?
Ans: Large enterprises are expected to dominate the Enterprise Information Archiving market.