Global Digital Vault Market Flourishing To Reach USD 1631 Million By 2030, With A Healthy CAGR Of 12.8% | Growth Market Reports

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Sep 14, 2022, 09:40 ET

PUNE, India, Sept. 14, 2022 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Digital Vault Market" by Components (Solutions and Services [Design & Implementation, Consulting, Managed Services, Support & Maintenance, and Others]), Deployment (On-cloud and On-premise), Organization Sizes (Small & Medium Organizations and Large Organizations), End-users (IT & Telecommunication, BFSI, Retail, Power & Utilities, Government, Aerospace & Defense, Healthcare, Real Estate, and Others), and Regions: Size, Share, Trends and Opportunity Analysis, 2021-2030", the market was valued at USD 631 million in 2021 and is expected to expand at a CAGR of 12.8% during the forecast period. The global digital vault market is projected to expand at a rapid pace, due to the increasing awareness regarding digital vaults.

Key Market Players Profiled in the Report

CyberArk Software Ltd.
Iron Mountain Incorporated
Hitachi, Ltd.
Johnson Controls
DigiCert, Inc.
Accruit Holdings LLC.
TokenEx
Oracle
Multicert
Micro Focus
Logic Choice Technologies
Broadcom
NortonLifeLock Inc.
Keeper Security Inc.
Fiserv Inc.
DSwiss AG
Safe4 Information Management Limited
Eclypses Inc.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include types, technologies, enterprises, applications, industry verticals, and competitor analysis.

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This report also includes a complete analysis of industry players that covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the segments of the Digital Vault Market

In terms of components, the global digital vault market is bifurcated into solutions and services. The services segment is anticipated to expand at a sustainable CAGR during the forecast period, owing to rising demand for digital vault services including consulting services that aid organizations in understanding their need for digital vault solutions and implementing those solutions. Consulting services offer risk management, business goals transformation programs, alignment of program objectives, and others.

Based on deployment, the global digital vault market is segmented into on-cloud and on-premise. The on-cloud segment is expected to grow at a significant pace during the forecast period. The digital vaults help consumers in storing information on vendor servers to access them remotely. Digital vaults tackle the growing number of data breaches, thereby boosting the market demand in the coming years. Moreover, digital vaults stored on the cloud are available at any time and from anywhere and keep the data safe from cyber threats.

On the basis of organization sizes, the global digital vault market is segregated into large enterprises and small & medium enterprises. The small & medium segment is expected to expand at a rapid rate during the forecast period, due to the rising demand for digital vault solutions in small & medium enterprises across the globe. These enterprises use digital vault solutions to store company documents and information from cyber-attacks.

Based on regions, the market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in North America is projected to expand at a significant CAGR during the forecast period, due to the presence of developed economies such as the US and Canada in the region. The market in Asia Pacific is anticipated to hold a substantial share of the global digital vault market, due to rising investments in encrypted security solutions in the region.

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Key Takeaways from the Study:

The digital vault market in North America is expanding and dominating as compared to other regional markets, owing to the increasing demand for digital vault solutions in these developed countries for storing vital data, carrying out research and development activities, and securing enterprise and consumer information, and others.
The market in the Europe region is attributed to the rising demand for a secured repository to store crucial information for a long time. Moreover, the increasing digitization in the region drives market expansion in Europe.
BFSI segment is anticipated to grow at a significant pace, owing to the rising adoption of digital vaults in the financial sector for securing highly sensitive financial data.
Key players in the market adopted various innovative strategies. Companies are entering into partnerships and collaboration, launching new products, and expanding their production capacity to increase their consumer base and enhance their market share.

Read 211 Pages Research Report with Detailed ToC on "Global Digital Vault Market" by Components (Solutions and Services [Design & Implementation, Consulting, Managed Services, Support & Maintenance, and Others]), Deployment (On-cloud and On-premise), Organization Sizes (Small & Medium Organizations and Large Organizations), End-users (IT & Telecommunication, BFSI, Retail, Power & Utilities, Government, Aerospace & Defense, Healthcare, Real Estate, and Others), and Regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2030"

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Key Segments Covered

By Components

Solutions and Services

Design & Implementation
Consulting
Managed Services
Support & Maintenance
Others

By Deployment

On-cloud
On-premise

By Organization Sizes

Small & Medium Organizations
Large Organizations

By End-users

IT & Telecommunication
BFSI
Retail
Power & Utilities
Government
Aerospace & Defense
Healthcare
Real Estate
Others

By Regions

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

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