Enterprise Information Archiving Market Size (2024 - 2029)

Enterprise Information Archiving Market Analysis

The Enterprise Information Archiving Market size is estimated at USD 8.29 billion in 2024, and is expected to reach USD 14.36 billion by 2029, growing at a CAGR of 11.60% during the forecast period (2024-2029).

The growth of enterprise information archiving solutions have been primarily attributed to the increasing data generation across various organizations with a wide geographic presence and customer base. Other factors, such as the reduced storage costs for information archiving, and the government mandates to store crucial enterprise information for audit and investigation purposes, have also been driving the growth of the market studied.

• Data generated by enterprises across the globe includes majorly generated unstructured and structured data. These data are bifurcated into various formats, from structured, numeric data in traditional databases to unstructured text documents, videos, audio, e-mails, stock ticker data, and financial transactions. The enterprise information archiving solutions stores all types of data in the archive storage and then make it accessible when required. As organizations have been positioning themselves to extract more value, intelligence, and utility from the data, these solutions are expected to witness growth during the forecast period.
• In addition, increased technical innovations, modernization, and research and development efforts in the market and emerging nations would provide new opportunities for the enterprise information archiving market throughout the projection period.
• Enterprise information archiving also assisted businesses throughout the globe in automatically improving company efficiency by separating old and less valuable data on tertiary storage and storing user data on secondary storage for faster access and processing. The business information archiving industry growed significantly in recent years. Datacenters with cloud support have been constructed, allowing for scalable archiving at a minimal cost.
• One of the major factors expected to hinder the adoption of advanced enterprise information archiving solutions is a need for more training and management capabilities. Significant organizations have adopted various innovative solutions to manage their enterprise information, considering the vast digital organization information available. However, because of budget restrictions and a need for more awareness about enterprise information archiving, many businesses continue to use old and time-consuming approaches, such as manually maintaining digital information.
• With the COVID-19 outbreak, the market is likely to grow as the total data volume in the world is growing fast. According to Seagate Technology PLC, the data importance is expected to reach 149 ZB by 2024 from 26 ZB in 2017. Moreover, companies across the globe are adopting technical solutions as part of their digitalization process, augmenting market growth after the pandemic.

Enterprise Information Archiving Industry Segmentation

Enterprise information archive solutions capture, index, and archive the data. Also, they make large volumes of archived information searchable and retrievable in seconds.

Enterprises use these solutions to optimize information resources, improve efficiency, and maintain transparency. The estimation is for the license and subscription-based software offerings for different content types from the vendors and services-related revenues in the market studied.

The Enterprise Information Archiving Market is segmented by type (content types (database, email, social media, instant messaging, web, mobile communication, file, and enterprise file synchronization and sharing), by services (consulting, system integration, training, support, and maintenance)), by deployment mode (on-premise, cloud), by enterprise size (small and medium-sized enterprises, large enterprises), end-user (government and defense, banking, financial services, and insurance, healthcare and pharmaceutical, retail and e-commerce, manufacturing, and other end-user types), and by geography(North America, Europe, Asia Pacific, and rest of the world). 

The report also covers the COVID-19 impact analysis on the market studied and the stakeholders, and the same is considered for the current market estimation and future projections.

The report offers the market size and forecasts in USD billion for all the above segments.