The global enterprise information archiving market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period, to reach USD 12.9 billion by 2027 from USD 6.4 billion in 2022. The growth in the enterprise information archiving market has been impelled due to the increasing need for cost-effective storage solutions for inactive data to meet compliance and legal requirements. Another growth driving factor for the enterprise information archiving market is the demand for improved business processes through the segregation of less valuable data from the online enterprise data. Further, cloud-based archiving creates new growth opportunities in the enterprise information archiving market.
Content Type segment to grow at the higher CAGR during the forecast period
The Content type segment for enterprise information archiving market is expected to grow at a higher CAGR. Various industry enterprises demand archiving solutions as per their content type from enterprise information archiving solution providers. The content types include structured and unstructured data that is generated by an enterprises’ IT infrastructure. Enterprise information archiving vendors offer enterprise information archiving solutions as per content types that include email, database, social media, instant messaging, web, mobile communication, and file and EFSS.
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SMEs segment to grow at the highest CAGR during the forecast period
Enterprises with less than 1,000 employees are considered under the SMEs segment. Maximum productivity and reduced cost are crucial factors for these enterprises, as they have limited budgets to keep track of stored enterprise information. Hence, these enterprises take advantage of the freely available public cloud storage or limited on-premises enterprise information archiving solutions. SMEs have a lower volume of enterprise data generated as compared to large enterprises. This saves the overall cost required related to installing enterprise information archiving solutions. The implementation of the enterprise information archiving solution is expected to result in better and secure monitoring of indoor and outdoor places.
The enterprise information archiving market comprises major providers, such as Microsoft (US), HPE (US), IBM (US), Google (US), DELL (US), Veritas (US), Barracuda (US), proofpoint (US), Smarsh (US), Mimecast (UK), ZL Technologies (US), Global Relay (Canada), Micro Focus (UK), OpenText (Canada), Commvault (US), Solix (US), Archive360 (US), Everteam (France), Pagefreezer (Canada), Jatheon (Canada), Unified Global Archiving (US), Hornetsecurity (Germany), SKYSITE (US), Zovy Archiving Solutions (US), txtsmarter (US), SPAMBRELLA (US), THETA LAKE (US), Mithi (India), Odaseva(US), Mirrorweb (UK), Bloomberg (US). The study includes an in-depth competitive analysis of key players in the enterprise information archiving market with their company profiles, recent developments, COVID-19 developments, and key market strategies.
The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements, partnerships, mergers and acquisitions, have been the most dominating strategies adopted by the major players from 2019 to 2022, which helped them strengthen their offerings and broaden their customer base.
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OpenText is an eminent player in information archiving market. The company helps organizations securely capture, govern, and exchange information on a global scale. Its products and solutions offerings include cloud, digital experience, digital process automation, business network, ECM, discovery, security, and AI and analytics. Under its ECM products the company offers Enterprise Information Archiving solution. The Enterprise information Archiving solution offers OpenText InfoArchive, OpenText Core Archive for SAP Solutions, and OpenText Archive Center. InfoArchive allows data and content to be archived, managed in accordance with compliance policies and remain accessible to users. The product is enterprise archiving platform for preserving both structured and unstructured data sources, irrespective of the archive method.
OpenText caters its solutions and services to different verticals, such as automotive, engineering, construction, and operations, financial, healthcare, insurance, legal, life sciences, manufacturing, media and entertainment, utilities, and government and public sectors. The company caters to a broad customer base of about 46,000 across 27 countries. It operates globally through its offices based in the Americas, Europe, MEA, and APAC.
Solix is a big data application provider company that empowers data-driven enterprise with optimized infrastructure, data security, and advanced analytics by achieving Information Lifecycle Management (ILM) goals. The company is specialists in Database Archiving, Test Data Management, Data Masking, Application Retirement, Managed Services, Common Data Platform, Enterprise Archiving, Enterprise Data Lake, Big Data Suite, and ILM. The company offers SOLIXCloud Enterprise Archiving a complete suite of archiving applications including Application Retirement, Database Archiving, Email Archiving, and File Archiving to manage enterprise data growth. Solis has its operations across the globe via Value Added Resellers (VARs) and systems integrators. The company has offices in the US, the UK, the UAE, India, Australia, China, Brazil, and Mexico across all regions.
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