Digital Vault Market to Reach $2.9 Billion, Globally, by 2031 at 14.2% CAGR: Allied Market Research
Sunday, April 16, 2023
Rise in the number of online transactions and documentation stored online, increasing rules and compliances to safeguard sensitive data, and growing concerns about data protection from connected devices drive the growth of the global digital vault market.
PORTLAND, Ore., Feb. 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Digital Vault Market by Component (Solution, Service), by Deployment (On Premise, Cloud), by Enterprise Size (Large Enterprise, Small and Medium Enterprise), by End Use (BFSI, IT and Telecom, Manufacturing, Government, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global digital vault industry generated $743.8 million in 2021, and is anticipated to generate $2.9 billion by 2031, witnessing a CAGR of 14.2% from 2022 to 2031.
https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Prime determinants of growth
Rise in the number of online transactions and documentation stored online, increasing rules and compliances to safeguard sensitive data, and growing concerns about data protection from connected devices drive the growth of the global digital vault market. However, high cost associated with the use of digital vault and availability of various alternative cybersecurity solutions restrict the market growth. Moreover, ongoing development of new technologies such as artificial intelligence, IoT, cloud computing, and network analytics presents new opportunities in the coming years.
Download Sample Report at:
https://www.alliedmarketresearch.com/request-sample/9906
Covid-19 Scenario
-- The outbreak of the Covid-19 pandemic had a positive impact on the
global digital vault market, owing to an increase in online commerce.
-- Due to the pandemic, digital platforms have increased their efforts to
boost corporate and customer involvement and expand their development
activities. Due to the global development of digital platforms, the risk
of missing data, hacking, or other data-related security breaches has
gradually increased.
-- Rapid increase in wireless and digital transactions have necessitated
the need for securing data. The digital vaults offer utmost privacy to
the users as these vaults also have customizable options and one can
choose the power of attorney who can access the data. These factors
positively contributed to the digital vault market opportunities during
the pandemic.
The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2021, accounting for more than half of the global digital vault market, and is estimated to maintain its leadership status throughout the forecast period. The digital vault solutions are widely used across the world owing to their security features and its ability to protect sensitive data. However, the service segment is projected to manifest the highest CAGR of 14.7% from 2022 to 2031. The digital vault services provide greater operational effectiveness, lower operating cost that helps in getting a competitive advantage.
The cloud segment to maintain its leadership status throughout the forecast period
Based on deployment, the cloud segment held the highest market share in 2021, accounting for nearly two-thirds of the global digital vault market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 15.0% from 2022 to 2031. Growth of retail chains and hypermarkets & supermarkets is proving to be a major factor boosting the demand of private label products. Branded products may not always be affordable for all the consumers.
Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/9906
The BFSI segment to maintain its lead position during the forecast period
Based on end use, the BFSI segment accounted for the largest share in 2021, contributing to nearly one-third of the global digital vault market, and is projected to maintain its lead position during the forecast period. Digital vault is widely used in BFSI sector as it helps in faster integration and automation of workflow processes. However, the healthcare segment is expected to portray the largest CAGR of 15.4% from 2022 to 2031. The use of digital vaults in the healthcare sector helps in securely storing the electronic health records of the patients.
Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for around one-third of the global digital vault market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 15.0% from 2022 to 2031. This is majorly owing to rapid advancements in the BFSI, manufacturing, IT & telecom sector in this region.
Leading Market Players:
-- Johnson Controls,
-- CyberArk,
-- IBM,
-- Oracle,
-- Hitachi,
-- Micro Focus,
-- Fiserv,
-- Symantec,
-- Microsoft,
-- Multicert,
-- keeper security, inc.
Buy this Report at:
https://www.alliedmarketresearch.com/checkout-final/3e50025691f0f79f9ad1d78056564488
Trending Reports in ICT & Media Industry (Book Now with 10% Discount):
Payment as a Service Market Expected to Reach $53.6 Billion by 2031
Enterprise Asset Management Market Expected to Reach $9.9 Billion by 2031
Digital Asset Management Market Expected to Reach $5,287 Million by 2023
Asset Performance Management Market Expected to Reach $7.52 Billion by 2027
Asset Management System Market - Opportunities and Forecast, 2021-2031
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/information-and-communication-technology-and-media
Follow Us on Blog: https://www.technologyplz.com/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/digital-vault-market-to-reach-2-9-billion-globally-by-2031-at-14-2-cagr-allied-market-research-301742961.html
SOURCE Allied Market Research
|
|
|
|
|
 |
Weekly Recap: 11 Tech Press Releases You Need to See | Jan 22, 2026
|
|
Sup AI Sets New Benchmark Record with 52.15% on Humanity's Last Exam | Jan 22, 2026
|
|
DEADLINE ANNOUNCED FOR 2026 NEW TOP-LEVEL DOMAIN APPLICATIONS | Jan 22, 2026
|
|
Skunk Works® and XTEND Expand Joint All Domain Command and Control for Advanced Mission Execution | Jan 22, 2026
|
|
Trigent Partners with WeWork India to Expand its GCC Footprint | Jan 22, 2026
|
|
Exia Labs Brings Keystone to the U.S. Navy via DIU's Blue Object Management Challenge | Jan 22, 2026
|
|
Altair HyperWorks 2026 Delivers Design and Simulation at Scale with AI | Jan 22, 2026
|
|
Glasswall Brings Defense-Level File Sanitization to Every Government Agency and Business Using Microsoft 365 | Jan 22, 2026
|
|
Genpact Named a Leader in ISG Provider Lens(TM) 2025 for Insurance GCCs and Agentic AI Services | Jan 22, 2026
|
|
The Roadmap to Securing Your Own Digital Domain is Now Available | Jan 22, 2026
|
|
|
