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As per Kenneth's Research study, The global enterprise information archiving market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period, to reach USD 12.9 billion by 2027 from USD 6.4 billion in 2022.
Kenneth Research, in its repository of market research reports, have recently added a report on Global Enterprise Information Archiving Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Enterprise Information Archiving Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Enterprise Information Archiving Market is valued approximately at USD 5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2020-2026. Enterprise Information Archiving is a virtual data repository that stores data, with low cost and low power consuming archive storage devices such as tape libraries and cloud storage and power consuming primary storage. This Data can be classified into structured and unstructured data. The Structured data are alphabets, numbers and can be easily processed and stored whereas unstructured data can be referred as email, audio, images and video files. The growing Enterprise Information across various end users, increasing Stringent Legal Compliances and need for cost-effective storage solutions for Inactive enterprise data are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and introduction of Enterprise Information Archiving by market key player will create a lucrative demand for this market. For instance, as per company's news release in June 2019, Solix Technologies launched its Microsoft Azure-based enterprise archiving solution, SOLIXCloud. This solution enables enerprise to store databases, file servers and e-mail, as well as moving legacy application data to the cloud. However, lack of awareness of enterprise information archiving and heavy dependence on traditional approaches is the major factor restraining the growth of global Enterprise Information Archiving market during the forecast period.
The regional analysis of global Enterprise Information Archiving market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Hewlett Packard Enterprise (Hpe)
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Enterprise Size:
Small and Medium-Sized Enterprises
Government and Defense
Banking, Financial Services and Insurance
Retail and Ecommerce
Education and Research
Healthcare and Pharmaceutical
Media and Entertainment
IT and Telecommunications
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Enterprise Information Archiving Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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