Enterprise information archiving (EIA) is a software that combines solutions and products for archiving user messaging content such as instant messaging, email, SMS and public and business social media messages. EIA is an automated data repository that stores data in high capacity and low power consuming storage devices such as, cloud storage instead of power-consuming and expensive primary storage. EIA products provide multiple features such as retention management, content indexing, data reduction across content type, and tools for classification and e-discovery.
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The major factors accelerating the growth of global Enterprise Information Achieving market include the increasing stringent legal compliances, rising need for cost-effective storage solutions, and growing enterprise information across verticals. Data explosion is increasing significantly across various industry verticals such as BFSI, healthcare, government, manufacturing, and others. Therefore, organizations are paving their way toward data archiving, which helps them to maintain hosts of systems that produce a diverse type of data. EIA technology enables enterprises to enhance the overall performance of current business applications and makes the archived information extensively available and easy to retrieve by authorized users. It eliminates the complexity and burden of maintaining obsolete systems solely for their data and also reduces the time and cost involved in upgrades, backups, and database tunings. On the other hand, the rising security and privacy concern over EIA is likely to hamper the growth of the market over the forecast period.
Based on enterprise size, the market is segmented into SMEs and large enterprises. Among them, large enterprises category is projected to grow at a higher CAGR during the forecast period. Large enterprises consist of widespread geographical presence and customer base, leading to the production of large amount of data. This generates the demand for enterprise information archiving solutions. These solutions lower the risks, optimize storage information resources, enhance enterprise efficiency, and maintain transparency of the enterprise. Moreover, EIA solutions reduce the risks related to enterprise information recovery during the disaster.
On the basis of Industry, the market is segmented into Government & Defense, Education & Research, BFSI, Manufacturing, Media & Entertainment, Retail & E-commerce, Healthcare & Pharmaceutical, IT& Telecommunication, and Others. Among them, BFSI industry is projected to grow at a higher CAGR during the forecast period. Financial institutions generate huge amount of data through numerous transactions which are stored for long time and used during investigations, financial audits, and compliances. In order to store such information for longer time span, BFSI industry is significantly adopting enterprise information archiving solutions.
Based on region, the Asia-Pacific region is expected to grow at a higher CAGR during the forecast period. This is attributed to rapid adoption of enterprise information solutions either on-premises or on cloud platform, according to government mandates. Moreover, large players in the market such as Dell Inc., IBM Corporation, Cisco Systems Inc. and others are expanding their cloud base in the region due to the availability of vigorous IT infrastructure.
The major players in global Enterprise Information Archiving market include Google LLC, Microsoft Corporation, IBM Corporation, HPE Company, Dell Inc., Micro Focus International Plc., Veritas Technologies LLC., Barracuda Networks Inc., Proofpoint Inc., and Smarsh Inc. among others.
Global Enterprise Information Archiving has been segmented based on Type, Deployment Mode, Enterprise Size, Industry, and Key Regions. Based on Type, the market is segmented into Content types and Services. The Content segment is further segmented into Email, Database, Social media, Instant messaging, Web, Mobile communication, and EFSS. The Services segment is further segmented into Consulting, System Integration, Training, Support, and Maintenance. Based on Deployment Mode, the market is segmented into Cloud and On-Premises. Based on Enterprise Size, the market is segmented into SMEs and Large Enterprises. Based on Industry, the market is segmented into Government & Defense, Education & Research, BFSI, Manufacturing, Media & Entertainment, Retail & E-commerce, Healthcare & Pharmaceutical, IT& Telecommunication, and Others.
- In 2019, Google LLC partnered with OpenText Corporation, one of the enterprise information management (EIM) company. In this partnership, both the firms provide product and service integration which helps customers to move critical EIM workloads on Google Cloud.
- In 2017, Google LLC, expanded its partnership with Veritas Technologies, one of the information management company. In this collaboration, both firms provided new set of innovative solution named G Suite Enterprise to customers, which includes eDiscovery and archiving support.
At what pace is the global Enterprise Information Archiving market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the global Enterprise Information Archiving market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Enterprise Information Archiving market?
- What are the various deployment mode areas of the global Enterprise Information Archiving market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
- Which type of enterprise information archiving generated maximum revenues in 2019 and identify the most promising types during the forecast period?
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