CHICAGO, January 18, 2019 /PRNewswire/ --
According to a new market research report "Digital
Vault Market by Component (Solutions and Services), Services
(Consulting, Design and Implementation, Support and Maintenance,
and Managed Services), Organization Size, Industry, and Region -
Global Forecast to 2023", published by
MarketsandMarkets™, the Global Digital Vault Market size is
expected to grow approximately from USD 471
million in 2018 to USD 892
million by 2023, at a Compound Annual Growth Rate (CAGR) of
13.6% during the forecast period.
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Increasing regulations and compliances to protect sensitive data
and rising concerns for protecting data generated from connected
devices are major growth factors for the Digital Vault Market.
Browse in-depth TOC on "Digital
Vault Market"
50 - Tables
34 - Figures
114 - Pages
The design and implementation services segment to grow at the
highest CAGR during the forecast period
Designing and implementing a comprehensive and robust security
framework is one of the basic and most important steps of
protecting an infrastructure from physical as well as security
attacks. These data security systems are designed according to the
standards and compliances set by government bodies and
organizations. Designing data or information security architecture
requires network mapping and the blueprint of the entire system.
This could be achieved by identifying network assets; analyzing
security risks; developing security plans and policies; and
training, implementing, and maintaining security.
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The solutions segment to hold a larger market size during the
forecast period
The digital vault solutions protect data using multiple security
layers, including firewall, data access control, and end-to-end
encryption. Moreover, digital vault solutions provide multiple
security layers that are traditional and well known such as Virtual
Private Network (VPN), file access control, encryption,
authentication, and a firewall. The digital vault solutions enable
enterprises by providing functionalities, such as identity and
access management, data loss prevention, digital asset management,
and privileged account management.
Asia Pacific (APAC) to
record the highest CAGR during the forecast period
APAC constitutes of major economies, such as Singapore, South
Korea, Japan, China, India,
and Australia. Large enterprises
and SMEs in the APAC countries are realizing the significance of
data security and are adopting dedicated encryption solutions to
protect their critical and sensitive business data from commercial
infiltration, cyber threats, and misuse of data for monetary gains
by computer hackers. The developed countries in APAC, namely,
Australia, Japan, and Singapore have largely considered data
security software that are compliant with regulations regarding
encryption, and implementation of these solutions to cater to the
unparalleled data security needs of the businesses.
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Major vendors in the Digital Vault Market include Johnson
Controls (Ireland), CyberArk (US),
IBM (US), Oracle (US), Hitachi (Japan), Micro Focus (UK), Fiserv (US),
Symantec (US), Microsoft (US), Multicert (Portugal), Keeper Security (US), Accruit (US),
DSwiss (Switzerland), Safe4
Information Management (UK), TokenEx (US), Logic Choice (US),
Eclypses (US), HarshiCorp (US), Insoft Infotel Solutions
(Germany), Daxtech IT Solutions
(Canada), eOriginal (US), LexTrado
(South Africa), OPSWAT (US),
FutureVault (Canada), and ENC
Security (Netherlands).
Browse Adjacent Markets: Information Security
Market Research & Consulting
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