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Enterprise Information Archiving Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

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New York, Sept. 06, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Enterprise Information Archiving Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06134969/?utm_source=GNW
51% over the forecast period (2021-2026).

The growth of enterprise information archiving solutions is attributed to the rising generation of data across organizations, assigned to the widespread geographical presence and customer base. Factors such as reduced storage costs for the enterprise information archiving and government mandates to store enterprise information for audit and investigation purposes are further driving the market growth.
Estimations put that the data generated by enterprises, mainly include unstructured data, approximated in the range of 70% to 80%, and only 30% to 20% of the data is structured. Data comes in various formats, from structured, numeric data in traditional databases to unstructured text documents, videos, audio, emails, stock ticker data, and financial transactions. Enterprise information archive stores all kind of data in archive storage and make it accessible when required. Organizations are also positioning themselves to extract more value, intelligence, and utility from the data within their archive.
Also, according to Cisco, the volume of Big Data in data center storage is anticipated to increase to 403 exabytes by 2021 from 179 exabytes in 2019. Moreover, the increasing usage of the cloud has further supported data generation across end-user verticals. Information archiving solutions leverage public and private cloud platforms in order to offer organizations the much-needed agility and scalability, with lower costs. Therefore, the players in the market are increasingly offering cloud-based solutions to manage data. For instance, the Barracuda Essentials cloud-based service makes e-mail safe for businesses, with advanced threat protection, tamper-proof archiving, and data protection.
Furthermore, several regulatory standards have been designed and developed by governments for company compliance. Regulations often mandate that electronic data such as email and social media needs to be stored in a secure, tamper-proof format. High-quality archiving solutions have advanced search and legal hold features that allow secure eDiscovery and compliance with various laws and regulations in regulated industries and beyond. They ensure easy policy management and allow storage in mandated WORM formats.
With the outbreak of COVID-19, the market is likely to grow as the total volume of data in the world is growing at a fast pace. According to Seagate Technology PLC, the volume of data is expected to reach 149 zettabytes by 2024 from 26 zettabytes in 2017. Moreover, enterprises across the globe are adopting technical solutions as part of their digitalization process. Hence augmenting the market growth.

Key Market Trends

BFSI to Hold the Highest Market Growth

The BFSI industry has been focusing on going paperless, thereby shifting towards the digital mode for its operations. With the increasing enhancements in internet coverage across the globe, banks and other financial institutions are increasingly shifting to online mode.
This increasing digital transition in the sector has led to an enormous digital data creation that includes confidential customer credentials, process information, and transaction data. The proper management, handling, monitoring, and sharing of this huge data takes a lot of effort and time and eventually affects productivity. The management of this crucial data and its security has gained utmost importance, as a compromise in this data could have an irreversible impact on the organization’s value.
The BFSI sector is rapidly moving towards digitization in order to secure more customers and reach more potential consumers. The current FinTech era features changes in the market landscape, new regulations, and shifts in consumer behaviors. Currently, the customers demand user-friendly experiences, easy-to-understand products, transparency, and access to products and information.
Moreover, a recent Finastra survey showcased that corporate banking clients are shifting their focus towards real-time execution capabilities, access to online platforms, and value-added services. In response, the banks have moved away from the traditional relationship management model towards a digital platform that can meet the client’s needs faster, flexibly, and in a more agile manner.
Financial organizations are required to follow archiving regulations for various sets of data. For instance, in the United States, FINRA 10-06 regulation mandated financial organizations to retain social media communication records. FINRA 11-39 regulation mandated retaining, supervising, and retrieving business communications, whether they are conducted from office or personal devices.
Furthermore, Remote working has increased substantially, which has benefited EFSS during the pandemic. System workloads and active users have increased by up to 100% during the COVID-19 crisis. The EFSS segment is expected to witness significant growth considering the present situation in place and gain traction among various, including the Healthcare, BFSI, and Manufacturing sectors. The segment is already being intensively used in the IT sector, and it is expected to grow further over the years.

North America to Hold Highest Market Share

North America holds the highest market share. The region is an early adopter of the latest technological advancements, such as integration technologies with Artificial Intelligence (AI), cloud, and mobile technologies within traditional enterprise information archiving solutions. Moreover, the region has a stronghold of the enterprise information archiving vendors such as Google LLC, Microsoft Corporation, IBM Corporation, Dell, Veritas Technologies LLC, Barracuda Networks Inc., Proofpoint Inc., Smarsh Inc., etc.
The presence of rigorous government standards and regulations framed for various industries regarding the archive of data is the primary growth driver for this region, thereby fuelling market growth. For instance, FINRA 10-06, say financial firms must retain records of all social media communications, Sarbanes-Oxley Act, that says Public companies must save all business records, including electronic records and messages, for no less than five years.
Moreover, the rising adoption of cloud in the region is further boosting the market growth. Further, players in the region are adopting strategic partnerships to increase their market presence. For instance, In Jun 2020, Commvault, a global enterprise software company in the management of data across cloud and on-premises environments, entered into a multi-year agreement with Microsoft. The partnership tightly integrates go-to-market, engineering, and sales of Commvault’s Metallic Software-as-a-Service (SaaS) data protection portfolio with Microsoft Azure to deliver ultimate scale and trusted security with simple SaaS management.

Competitive Landscape

In the market studied, the competitive rivalry between various firms is dependent on pricing, functionalities solution capabilities, or market share, along with the intensity with which they compete in the market.

Major companies have a strong influence on the market in terms of consolidation activities. Conversely, the market can be characterized by high levels of market penetration, along with increasing levels of fragmentation.

Sustainable competitive advantage can be gained through innovation. Market incumbents have been adopting powerful competitive strategies based on product differentiation, market expansion, among other activities.

Reasons to Purchase this report:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06134969/?utm_source=GNW

About Reportlinker
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Artificial Intelligence

Dongfa Group’s Gas Scenario + Digital Twin Technology, Leads the Industry with New AI Trend

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–Highlights of the 2024 Exhibition
SHANGHAI, May 23, 2024 /PRNewswire/ — From May 17 to 19, 2024, China(Shanghai) International Metrology Measurement Technology and Equipment Exhibition was held at the Shanghai World Expo Exhibition and Convention Center. Dongfa Group participated in the exhibition, showcasing its latest research achievements. At the expo, Chairman Liu Ming of Dongfa Group conducted the lighting ceremony and announced the official launch of the “Smart Gas Comprehensive Supervision Platform,” demonstrating the convenience and efficiency achieved through the smart management of municipal gas meters.

Dandong Dongfa (Group) Co., Ltd., established in 1962 and headquartered in Singapore, was formerly known as Dandong Thermal Instrument Co., Ltd. As an integrated group company engaged in research, production, and operations, Dongfa Group is dedicated to the development and application of instruments and meters. Its product range includes IC card gas meters, wired direct-reading remote diaphragm gas meters, wireless direct-reading remote diaphragm gas meters, NB-IoT IoT meters, and ultrasonic gas meters. These products incorporate the technical features of similar domestic and international products, offering high accuracy, reliability, and stability, making the company a leading smart gas meter manufacturer in China.
At the expo, Dongfa Group showcased its Smart Gas Comprehensive Supervision Platform, which integrates AI, IoT, cloud computing, and big data. This platform connects the topological structure of all aspects of gas operations and consolidates all relevant data involved in production management and operation maintenance. This integration enhances the comprehensive research and development and operational maintenance capabilities of the big data governance system.
At the same time, Dongfa Group is empowering comprehensive management and control with digital twins, AI, and big data. By leveraging digital twins, AI models, and 5G technology as data elements, the company is constructing a unified citywide network and a digital twin map of the gas pipeline network. This enables deep integration of AI monitoring, pressure and leakage detection, smart terminals, and other sensing devices with gas operations, ensuring the comprehensive safety and supply of urban gas.
Digital twin gas technology not only provides auxiliary support for pipeline design, but also plays a crucial role in intelligent emergency response and precise distribution. Especially in the operation of gas stations, it enables comprehensive real-time monitoring, intelligent integrated operation scheduling, proactive warning, emergency event command plans, and other effects, thereby improving the efficiency and safety of gas management.
However, there have been numerous incidents of data leakage involving smart AI devices in recent years. Sensitive data is being collected or even sold by malicious actors, leading to the disclosure of confidential information, resulting in significant economic losses and even legal risks.
To ensure the security of both enterprise and user data, Dongfa Group utilizes Digital Envelope technology to encrypt and decrypt data packets during data collection and distribution. This approach combines the advantages of both symmetric and asymmetric encryption technologies for secure information transmission, enabling fast, efficient, and secure encryption and decryption processing for the smart gas digital business sector. This ensures the security and integrity of data during transmission.
Visitors at the expo showed strong interest in the new products and technologies exhibited by Dongfa Group. Dongfa Group has always been committed to driving the development of the smart instrumentation industry through technological innovation. Through this exhibition, the company not only showcased its technical prowess but also strengthened communication and collaboration with industry peers. Looking ahead, they aim to join hands in opening a new chapter in the smart instrumentation industry.
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QNAP S3-compatible Storage Solution “QuObjects” Certified as Veeam® Ready – Object with Immutability

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TAIPEI, May 23, 2024 /PRNewswire/ — QNAP® Systems, Inc., a leading computing, networking, and storage solution innovator, today announced that its S3-compatible object storage solution “QuObjects” has qualified as Veeam® Ready – Object with Immutability, applicable for QNAP NAS with QTS and QuTS hero operating systems. This certification underscores the reliability of QuObjects as a secure object backup solution for enterprises, enhancing data management efficiency and upmost security.

QuObjects is the S3 object storage solution for QNAP NAS, boasting read/write speeds 20 times faster than conventional cloud services, along with a highly flexible and scalable architecture to ensure efficient transmission and flexibility in object storage. From object service development to demanding workloads like machine learning and data lakes, QuObjects assists enterprises in achieving diverse application needs with higher cost effectiveness.
QuObjects supports Object Lock to ensure data immutability, further safeguarding against ransomware threats, cyberattacks, or human error. Coupled with access controls and authentication features, it provides comprehensive protection for object data security.
Jimmy Tam, Product Manager of QNAP, stated “Data security is critical for enterprises. With QuObjects certified by Veeam Ready – Object with Immutability, we empower organizations leveraging Veeam solutions to confidently opt for QNAP NAS for on-prem S3 object storage and backup, enjoying rapid transmission, extensive scalability, and steadfast security.”
QNAP is the preferred partner for Veeam object backup solutions. Learn more at Veeam Ready Object Partner and QNAP QuObjects- S3 Object Storage.
For more information and to view the full QNAP NAS lineup, please visit www.qnap.com.
Photo – https://mma.prnewswire.com/media/2413244/PR_image_QNAP_x_Veeam_Ready_en.jpg

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Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change

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SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.

CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.

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