Enterprise Information Archiving Market

Microsoft (US) and Veritas (US) are leading players in Enterprise Information Archiving Market

MarketsandMarkets forecasts the global enterprise information archiving market size to grow from USD 5.7 billion in 2020 to USD 10.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period. Major growth factors for the market include reduced storage costs required for the enterprise information archiving and government mandates for storing enterprise information for audit and investigation purposes.

The current corporate business world environment is highly competitive, and the data generated is the most important asset of enterprises. In most cases, it is found that enterprise information plays an important role to understand an enterprise. With the increasing rate of digitalization, it is found that a huge amount of information is being generated by enterprises, such as employee records, sales and marketing data, financial data, and communicated messages over the communication channels. This enterprise information plays an important role in planning, structuring, describing, and governing enterprise strategies across corporate and technological boundaries to improve efficiency, promote transparency, and enable business insights.

As per MarketsandMarkets, enterprise information archiving solutions archive electronic enterprise content that may be in a structured and unstructured format. Enterprise content majorly includes emails, databases, instant messages, mobile communication, social media, web, and files and Enterprise File Synchronization Sharing (EFSS). Enterprise information archiving solutions enable functionalities, such as data reduction across content types, retention management, content indexing, and tools for eDiscovery and classification. The need for enterprise information archiving arises due to compliance with regulatory requirements, litigation, internal corporate policies, as well as data and information security.

The major enterprise information archiving vendors operating in the market include Google (US), Microsoft (US), HPE (US), IBM (US), Dell (US), Veritas (US), Barracuda (US), Proofpoint (US), Smarsh (US), Mimecast (UK), ZL Technologies (US), Global Relay (Canada), Micro Focus (UK), OpenText (Canada), Solix (US), Archive360 (US), Everteam (France), Pagefreezer (Canada), Jatheon (Canada), and Unified Global Archiving (US).

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Microsoft was founded in 1975 and is headquartered in Washington, US. It is an American multinational technology and consulting firm. It generates revenue by offering a wide range of cloud-based solutions and other services to individuals and businesses, licensing and supporting an array of software products; designing, manufacturing, and selling devices; and delivering relevant online advertising to a global audience. Its product portfolio includes Operating Systems (OS), cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. The company focuses on customer satisfaction. In October 2019, Microsoft enhanced the support of Exchange Online Archiving over the Exchange hybrid configuration wizard. Exchange hybrid configuration wizard runs all the necessary configuration-related tasks.

Veritas was founded in 2016 and is headquartered in California, US. The company specializes in information management, data management, information governance, cloud, backup and recovery, business continuity, software-defined storage, data privacy, data protection, data visibility, storage optimization, digital, data and workload portability, multi-cloud, and data disability. In October 2019, the company enhanced its enterprise vault by releasing Enterprise Vault Version 12.5. The solution enabled support for Simple Mail Transfer Protocol (SMTP) archiving for G Suite by Google Cloud. This version enabled support for tag value to perform searches.

Related Reports:

Enterprise Information Archiving Market by Type (Content Types (Email, Database, Social Media, Instant Messaging, and Web) and Services (Consulting and System Integration)), Deployment Mode, Enterprise Size, and Region - Global Forecast to 2025

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Report Code
TC 4162
RI Published ON
3/12/2020
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