From $577.42 million in 2020, the global Digital Vault Market is projected to reach $1841.42 million by 2028. Based on our analysis the market is expected to grow at a CAGR of 15.6% from 2020 - 2028 timeframe.
Some of the prominent trends that the market is witnessing include integrating of technology related to the AI and blockchain, growing need for cloud-based security solutions and increased internet penetration and economies transforming into digital ones.
Global Digital Vault Market: Market Dynamics
Rising compliance and regulations related to protect sensitive data and growing concern to protect the data generated from connected devices are some of the factors driving the market.
On the other hand, lacking in spreading of awareness about measures of data security is restraining the market growth.
Impact of COVID-19 on Digital Vault
The COVID-19 pandemic has had a significant influence on the market’s growth. Considering the fast digital transformation in the IT & telecom, and BFSI sectors, the coronavirus pandemic worked as a tremendous propeller for the adoption of digital vault solutions. Due to social distance and distant working habits, eGovernment digital services have seen a considerable preference for limiting face-to-face encounters.
Cloud Based Digital Vault Segment Dominate the Market in 2020
The Cloud Based Digital Vault segment made huge revenue in 2020 and growing its prominence during the forecast period. Cloud-based digital vaults allow end-users to store essential data on the vendor’s servers, which can then be accessed remotely from anywhere at any time, lowering the expense of on-premise maintenance. Cloud-based digital vaults save a lot of upfront expenditures and IT expenses compared to on-premise digital vaults, which require hardware and software integration, boosting IT spending.
North America Region is Leading in the Global Market Place
North America region is likely to have a huge demand in the forecast period. Developed economies, such as the United States and Canada, have the potential to use highly secure corporate sizes to store data obtained from critical sources. The United States and Canada are in the lead because their economies are stable and well-established. This allows them to make significant investments in R&D, contributing to the creation of novel technology.
List of the Key Players Profiled in the Market Include:
• Johnson Controls International PLC • CyberArk Software Ltd • Microsoft • IBM • Oracle Corporation • Keeper Security • Multicert • Hitachi Limited • Fiserv • Micro Focus • TokenEx • Accruit LLC
List of the Regions/Countries Profiled in the Market Include:
North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others
Our reports have been used by over 10K customers, including:
The eDiscovery market is projected to grow from USD 11.2 Billion in 2022 to USD 17.1 Billion by 2027, at a compound annual growth rate (CAGR) of 8.7% during the forecast period. eDiscovery market is rapidly gaining acceptance worldwide by enterprises and corporates. Training and consulting services include industry experts, domain experts,...
Vietnam Software as a Service Market, By Business Application (Marketing, Customer Relationship Management, Business Operations, Finance, Database Management, Enterprise Resource Planning, Others), By Offering (Horizontal SaaS, Vertical SaaS), By Organization Size (Large Enterprises, SMEs), By Deployment (Cloud, On-Premises), By End...
The global data center fabric market reached a value of US$ 23.2 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 84.2 Billion by 2027, exhibiting a CAGR of 24.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence...
Abstract Fleet Telematics Systems Procurement in the US Fleet telematics systems are used to monitor, map, and track vehicle fleets in the field. Digital maps and Global Positioning System (GPS) technology allow for real-time visualization of vehicle positions and other information, such as engine...
300 pages •
By The Business Research Company
• Mar 2022
Major companies in the design, editing & rendering software market include Adobe Systems Incorporated, Dassault Systemes, Google, AUTODESK, INC., Synopsys, Inc., Trimble Inc., Siemens AG, ANSYS, Larsen & Toubro ltd. and NEMETSCHEK GROUP. The global design, editing & rendering software market is expected to grow from $42.61 billion in...
The Global Network-as-a-Service market (henceforth referred to as the market studied) was valued at USD 10.80 billion in 2021 and is expected to reach USD 59.44 billion by 2027, registering a CAGR of 32.67% during the forecast period of 2022-2027. Key Highlights One of the primary factors driving the growth of...
The global self-service BI market reached a value of US$ 6.8 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 15.5 Billion by 2027, exhibiting a CAGR of 15.09% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence...
The global MDR market size is expected to grow from an estimated value of USD 2.6 billion in 2022 to USD 5.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 16.0% from 2022 to 2027. Some of the factors that are driving the market growth includes addressing of shortage of skilled cybersecurity professionals and budget constraints,...
300 pages •
By The Business Research Company
• May 2022
Major companies in the investment banking market include Barclays, JP Morgan, Goldman Sachs, Bank of America Merrill Lynch, and Morgan Stanley. The global investment banking market is expected to grow from $138.95 billion in 2021 to $155.49 billion in 2022 at a compound annual growth rate (CAGR) of 11.9%. The market is expected to grow...
The global application infrastructure middleware market reached a value of US$ 47.5 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 83.1 Billion by 2027, exhibiting a CAGR of 9.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as...
Cloud Services Penetration
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.