Global Structured Data Archiving and Application Retirement Software Market - Introduction
- A structured data archiving (SDA) platform transfers data from commercially provided or custom-provided applications to a database management system (DBMS) or substitute file system while maintaining data admittance and referential reliability. It can easily reduce storage acquisition expenditure, environmental footprints, facility requirements, and the cost of maintaining data for compliance once retiring applications.
- Application retirement software records legacy application information for long-term storage while implementing retention management policies along with retaining reporting access. This solution provides a secure, centralized, and compressed recorded data storage with embedded compliance management abilities for defensible disposition as well as for legal holding.
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Impact of Coronavirus (COVID-19) on the Structured Data Archiving and Application Retirement Software Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) has a negative impact on the structured data archiving and application retirement software market. During the period of Coronavirus (COVID-19), various industries such as aviation have shut down their operations, while following respective government guidelines to maintain social distance, which is expected to negatively impact the growth of the structured data archiving and application retirement software market.
Increasing Demand for Information Governance Strategies across Organizations Expected to Drive the Global Structured Data Archiving and Application Retirement Software Market
- Increasing complexity from stringent regulations, data volumes, legal discovery requirements, and new database applications is leading to various challenges for organizations. Therefore, organizations are adopting structured data archiving and application retirement software to address these challenges, which can easily empower organizations to store as well as manage various types of data generated during operations.
- Structured data archiving (SDA) platforms allow information governance strategies which obtained from database records across enterprises. The preliminary use cases of structured data archiving (SDA) are for decommissioning/ retirement of legacy databases and for data archiving via production databases.
- The impact of this driver is expected to be high throughout the forecast period. Use of structured data archiving and application retirement software is on the rise across the globe, led by increasing demand for information governance strategies across organizations. This is expected to boost the global structured data archiving and application retirement software market in the next few years.
Lack of Awareness across Small-scale Organizations Expected to Hamper the Structured Data Archiving and Application Retirement Software Market
- Across developing nations, small-scale organizations are still unaware about the benefits of structured data archiving and application retirement software; instead they still use traditional methods (records and information management (RIM) solutions).
- Therefore, lack of awareness across small-scale organizations is expected to hamper the structured data archiving and application retirement software market.
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North America to Account for Major Share of the Global Structured Data Archiving and Application Retirement Software Market
- In terms of region, the global structured data archiving and application retirement software market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global structured data archiving and application retirement software market during the forecast period due to increasing IT investment across organizations, indicating potential growth of the market. Europe is expected to be the second largest market for structured data archiving and application retirement software from 2020 to 2030.
- Asia Pacific is projected to be a rapidly growing market for structured data archiving and application retirement software during the forecast period due to technological advancements and increasing focus on reducing operational costs across organizations, specifically in India, Japan, and China.
Key Players Operating in the Global Structured Data Archiving and Application Retirement Software Market Include:
- IBM Corporation
- Actifio Inc.
- Datavard AG
- Dell Inc.
- Micro Focus
- Microsoft Corporation
- Open Text Corporation
- Solix Technologies
Global Structured Data Archiving and Application Retirement Software Market: Research Scope
Global Structured Data Archiving and Application Retirement Software Market, by Deployment
Global Structured Data Archiving and Application Retirement Software Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global Structured Data Archiving and Application Retirement Software Market, by Application
- Long Term Data Retention
- Data Retrieval
Global Structured Data Archiving and Application Retirement Software Market, by Industry
- Telecom & IT
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.