Enterprise Information Archiving (EIA) Market Size, Share, Growth, And Industry Analysis, By Type (On-Premises, Managed and Hybrid), By Application (0-100 Users, 100-500 Users and Above 500 Users), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Enterprise Information Archiving (EIA) Market Report Overview

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The global enterprise information archiving (EIA) market size was USD 7997.5 million in 2022 and market is projected to touch USD 17518.1 million by 2031, at a CAGR of 9.1% during the forecast period.

Software for archiving user communications data from channels like email, instant messaging, SMS, and public and professional social media is known as enterprise information archiving (EIA). This also includes other kinds of content, like files, website content, speech, and data from enterprise file synchronization and sharing (EFSS) networks. Products from EIA include capabilities such as content indexing, e-discovery tools, retention management, data reduction across content categories, and data classification.

Due to the growing demand for cost-effective storage solutions for inactive data to satisfy regulatory and legal requirements, the enterprise information archiving (EIA) industry has experienced rapid expansion. Demand for improved business operations through the separation of less valuable data from the online company data is another element driving the market's growth. Additionally, cloud-based archiving opens up new prospects for expansion in the business sector.

COVID-19 Impact: Businesses Suffered Greatly due to the Disruptions Caused by the Spread of the Pandemic

The COVID-19's effects on the economy have made it difficult for some industries, like technology, automation, banking, and others, to operate properly. Small and medium-sized businesses (SMEs) and multinational corporations (MNCs) both domestically and internationally suffered greatly as a result of the situation, and in certain extreme circumstances, some of them were even forced to cease operations. The raw material supply was affected, the electronics value chain was disrupted, and COVID-19 increased the risk of inflation for products, which had a negative effect on the market's expansion.

Latest Trends

"Introduction of Communication Platform Allows Businesses to Gather and Analyze Massive Amounts of Data"

To get a competitive advantage over their rivals, this market's producers are always working on new product development strategies. For instance, in November 2021, Smarsh introduced the Communications Intelligence Platform, the next iteration of their enterprise electronic communications collection, achievement, and oversight solution. The AI-powered technology makes it possible for businesses in the financial services industry and other industries with strict regulations to gather and analyze massive amounts of communications data, identify hazards promptly, discover business insights, and enhance operational processes.

Enterprise Information Archiving (EIA) Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into On-Premises, Managed and Hybrid

• By Application Analysis

Based on application, the market can be divided into 0-100 Users, 100-500 Users and Above 500 Users

Driving Factors

"Information Capacity of Businesses are Growing at an Exponential Rate which is Driving the Growth of the Archiving Industry"

Enterprise information archiving (EIA) solutions and services are becoming more and more necessary as a result of the enormous volume of enterprise information generated by the exponential increase in data from emails, instant messaging, databases, social media, the web, mobile communication files, and enterprise file synchronization sharing. Recording corporate decisions and conversations across a variety of content, sources, and data kinds is challenging to capture, maintain, and produce. The addition of more varied end-user devices and IoT connections causes the IT infrastructure to become more complex. It has the capacity to generate a lot of data. . These gadgets are being installed more frequently, which will lead to a greater need for storage space. Consequently, there is a demand for EIA solutions to give enterprises the capacity to collect data from all platforms and devices and to effectively and securely preserve data.

"Upcoming Budding Markets will Lead to the Adoption of Archiving Services in the Years Ahead"

Enterprise information archiving (EIA) potential is boosted by the surge in demand for both structured and unstructured data. Because of technology innovation, businesses spend a lot of time and money analyzing data, which helps them make decisions that will affect their future. Growing use of various technologies, including artificial intelligence (AI), machine learning, and the Internet of Things (IoT), will result in a large increase in the volume of unstructured data generated, especially in developing nations like China and India. Enterprise information archiving services will eventually be used as a result, which will be advantageous for the market.

Restraining Factors

"Lack of Awareness about Information Solutions and Use of Traditional Solutions can Obstruct the Market Broadening"

Given the vast amount of digital corporate information at their disposal, huge businesses have started embracing a variety of cutting-edge technologies to handle it. Due to budgetary restrictions and a lack of knowledge about enterprise information, many businesses continue to use time-consuming and archaic approaches, like manually managing digital company information. In order to handle their corporate information, numerous SMEs rely on manual and other traditional approaches/tactical system archiving. One of the key elements anticipated to slow down the adoption of advanced enterprise archiving systems is the absence of management skills and training. Another barrier to employee adoption of information archiving technologies is resistance to change. Thus these factors hold back the enterprise information archiving (EIA) market growth from expanding.

Enterprise Information Archiving (EIA) Market Regional Insights

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"Early Adoption of Cutting-Edge Technical Developments puts North America at the Lead Position in the Archiving Industry"

As an early adopter of cutting-edge technical developments including mobile technologies and integration technologies with Artificial Intelligence, North America is anticipated to hold a significant enterprise information archiving (EIA) market share. Additionally, the area is home to manufacturers of business information like Google, IBM, Microsoft Corporation, and others. The market is rising as a result of the region's expanding cloud adoption. Players in the area are also forming strategic alliances to broaden their market penetration.

Due to increased adoption of new technologies, significant investments in digital transformation, the rapid growth of domestic businesses, extensive infrastructure development, and rising GDP of various countries, Asia Pacific is predicted to have the fastest growing enterprise information archiving market. These solutions are being implemented across various business processes in fast-growing economies like China, Singapore, India, and Japan in order to secure and achieve enterprise information. The IT industry's center of gravity is Asia, which is expanding more quickly. Enterprise information solutions must be used to prevent policy and regulatory violations due to the growing demand for business process optimization and monitoring.

Key Industry Players

"Key Players Focus on Organic and Inorganic Expansion Techniques to Stay Ahead of their Rivals"

Both organic and inorganic expansion techniques have been used by the enterprise information archiving (EIA) firms. To improve their market positioning, companies use a variety of techniques, such as new product releases, product upgrades, collaborations and contracts, corporate expansions, and mergers and acquisitions. In addition to this, they also spend on R & D projects to meet customer demands and keep one step ahead of rival companies.

List of Market Players Profiled

• Barracuda Networks (U.S.)
• Veritas Technologies (U.S.)
• Mimecast (U.K.)
• CommvauLT (U.S.)
• Google (U.S.)
• Smarsh (U.S.)
• Microsoft (U.S.)
• ZL Technologies (U.S.)
• Proofpoint (U.S.)
• Micro Focus (U.K.)
• Global Relay (Canada)
• Dell EMC (U.S.)
• Bloomberg (U.S.)
• OpenText (Canada)
• IBM (U.S.)

Report Coverage

This report covers the enterprise information archiving (EIA) market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2028. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.