Digital Vault Market Outlook 2026 By Component, Size, Share, Trends, Opportunity and Forecast
According to TechSci Research, Global digital vault market stands over $ 600 million worth in 2019 and exhibits a CAGR of over 12% during the forecast period, owing to increasing compliances & regulations for data protection. Digital vault is a system designed to secure the data stored through firewall, encryption and access control solutions. Digital vaults provide security to data, which is in transit from the vault to application running on another device and to the data which is stored in vaults through multi-level encryption techniques. Increasing requirement for cloud-based security solutions is expected to aid market growth.
Digital vault market can be segmented based on component, organization size and end user. In terms of component, the market can be bifurcated into solution and service. Solution segment is expected to capture the largest market share during the forecast period, as digital vault solutions protect the data using multiple security layers, such as encryption, firewall, virtual private network (VPN). In terms of service, professional services segment dominated the market in 2020 and the trend is likely to continue in the coming years, as these services help enterprises to understand the need and implementation of solutions as well as provide solutions to achieve their strategic goals. On the basis of organization size, the market can be segmented into small & medium enterprises (SMEs) and large enterprises. Increasing number of cyber attacks is boosting demand for digital vault software among large enterprises. Digital vault market caters to various end users including BFSI, IT & telecom, government and others. On account of increasing concerns regarding the protection of sensitive financial data, more and more financial institutions are adopting digital vaults.
In 2020, North America accounted for the largest share in global digital vault market and is expected to maintain its market dominance during the forecast years, owing to increasing investments by established economies, such as Canada and the US in research & development activities.
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Major players operating in digital vault market are Symantec Corporation, Johnson Controls, Inc., CyberArk Software Ltd, Micro Focus International plc, International Business Machine Corporation, Oracle Corp., Keeper Security, Inc., Hitachi, Ltd, Microsoft Corp. and Multicert. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2020, Oracle Corp. acquired cloud-based application provider Zenedge to secure organizations from digital threats.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Objective of the Study:
- To analyze and forecast global digital vault market size.
- To classify and forecast global digital vault market based on component, organization size, end-user and regional distribution.
- To identify drivers and challenges for global digital vault market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global digital vault market.
- To conduct the pricing analysis for global digital vault market.
- To identify and analyze the profile of leading players operating in global digital vault market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major service providers across the globe.
TechSci Research calculated global digital vault market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Digital vault service providers
- Research organizations and consulting companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to Digital Vault
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global digital vault market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Component:
- Solution
- Data Loss Prevention
- Identity & Access Management
- Digital Asset Management
- Account Management
- Others
- Services
- Professional Services
- Managed Services
- Market, by Organization Size:
- Large Enterprises
- Small & Medium Sized Enterprises
- Market, by End User:
- BFSI
- Government
- Telecom & IT
- Others
- Market, by Region:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global digital vault market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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