BFSI to Generate Largest Demand in Global Digital Vault Market till 2024
Increasing
concerns about securing data generated from connected devices and surging
compliances & regulations for protection of information to drive global
digital vault market through 2024
According
to TechSci Research report, “Global
Digital
Vault Market
By Component, By Organization Size, By End User, By Region, Competition,
Forecast & Opportunities, 2024”, global digital vault market
is projected to grow at a CAGR of over 12% during the
forecast period, on the back of surging demand for cloud-based security
solutions. Digital vault is a secured data storage system, which is secured by
access control solutions, encryption and policies. Digital vaults are used in
various industry verticals such as BFSI, government, IT & telecom and
others.
Browse
20 market data Tables and 109 Figures spread through 110 Pages and an in-depth TOC on "Global
Digital Vault Market"
https://www.techsciresearch.com/report/digital-vault-market/3914.html
Digital
vault market, globally, can be segmented based on component, organization size,
end-user and region. Professional services segment dominated the market in 2018
and is expected to continue leading the market in coming years, as these
services help to achieve business objectives by identifying network assets,
analyzing security risks and developing security policies. Small & medium
enterprises (SMEs) as well as large enterprises are deploying digital vaults. Growing
need for protecting crucial information is boosting the adoption of digital
vaults among SMEs. BFSI is the major demand generating end user of digital
vaults, on account of increasing cyber threats and rising demand for superior
services from customers.
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Symantec
Corporation, Johnson Controls, Inc., CyberArk Software Ltd, Micro Focus
International plc, International Business Machine Corporation and Oracle Corp. are some of the leading
players operating in global digital vault market. Companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations in order to register growth in the market. In 2018, Keeper Security
launched breachwatch to monitor the internet for breached accounts by matching
records stored in breachwatch.
“Early adoption of innovative technologies and presence of leading
players in North America makes the region largest contributor towards global
digital vault market. Every year, the region experiences largest number of
identity data theft, thus generating demand for digital vaults over the coming
years. US is the largest demand generating country for digital vaults in the
region, while BFSI is the largest adopter of digital vault market.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Digital
Vault Market By Component, By Organization Size, By End User, By Region,
Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global
digital vault market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global digital vault market.
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