Global Digital Vault Market Analysis & Trends - Industry Forecast to 2028

Global Digital Vault Market Analysis & Trends - Industry Forecast to 2028

  • February 2022 •
  • 170 pages •
  • Report ID: 6230212 •
  • Format: PDF
Digital Vault: Market Size

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.

By Type

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.

By Geography

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
• 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
• 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
• Rest of Middle East
Latin America
• Argentina
• Brazil
• Rest of Latin America
Rest of the World (RoW)
• South Africa
• Others