A rapidly growing information and technology sector has increased the importance of data and document management. Managing and maintaining data such as e-mails, photos, and financials along with survey data and voicemails is a tedious task for any organization. Furthermore, inactive data occupies a huge part of storage space from the primary storage system. Inactive data is the data that is not required immediately but could be required in the future by the organization. The process of moving such nonactive data to a separate storage device so that it could be recovered or retained after a long time is called archiving. To address the archiving concerns, many companies have introduced archiving software. Archiving software manages and controls archived data for users. The major advantage of using archiving software is the improved efficiency of storage infrastructure.
The intensive penetration of social media platforms such as Facebook, Twitter, and Instagram has led to the massive increase in data repositories. Demand for archiving software is increasing due to the necessity of managing these large data repositories. The need for data discovery is also generating demand for archiving software. Organizations are capturing a huge amount of data from sources such as security, business analytics, and other internal sources, which is further increasing the need for archiving software. Archiving software enables an organization to locate essential files with ease. Additionally, the primary driver of the archiving software market is the increased demand for data visibility and data management in information, communication, and technology companies. Archiving software’s storage optimization function and granularity are helping organizations manage data efficiently and avoid loss. The need for organizations to store data other than just emails has increased and archiving software caters to this essential need of businesses. The ability of the archiving software to search information by data types such as pdf and HTML is important for data sorting. Archiving software can handle a wide range of data types, which makes it highly flexible among different industry verticals. The increasing number of archival software vendors has made the market highly competitive. The emergence of virtual archive software, eliminating the need for hardware setup is one of the growing trends in the archiving software market. Growing investments in emerging countries such as China and India are anticipated to further increase the competition in the archival software market.
On-premise and cloud-based are the two deployment methods used for the archiving software market. The archival software market is further divided in two segments according to enterprise size: small and medium enterprises (SMEs) and large enterprises. Telecommunication, information technology, banking and financial institutes, healthcare, and manufacturing are some of the industries that use archiving software for data management. The archiving software market is also divided into five regional segments: North America, Europe, Asia Pacific, Middle East and Africa (MEA), and South America.
Some of the key vendors of archiving software are Waterford Technologies, EMC Corporation, NTP Software, Inc., ArcMail, CommVault Systems Inc., Iron Mountain Incorporated, ASG Technologies, Autonomy Corporation PLC, Archive Power Systems Inc., QStar Technologies, and Quantum Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.