Digital Vault Market 2020: Import & Export, Revenue by Forecast to 2023

Posted by Eshu Gupta on December 3rd, 2020

Overview:

Globally, the digital vault market is expected to have significant growth over the forecast period. Fast development in the ICT industry and increasing digitalization across the globe have triggered the need for advanced cybersecurity solutions, which is a major driving factor for the digital vault market. However, less security spending and availability of various alternate cybersecurity solutions are restraining growth of the market.

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In this study, the multi-vendor support services market is segmented based on component, organization size, industry vertical, and regions/country. By component, the market is segmented into privileged account management, identity and access management, digital asset management, data loss prevention, and services. By organization size, the market is segmented into large enterprises and Small and Medium-sized Enterprises (SMEs).

On the basis of industry vertical, the market is segmented into Banking, Financial Services, and Insurance (BFSI), government and defense, media and entertainment, retail and consumer goods, telecom and IT, educatioin, healthcare, and others. Finally, the regions covered in this study are North America- US, Canada, and Mexico; Europe- Germany, France, the UK, and the rest of Europe; Asia-Pacific- China, India, Japan, and the rest of Asia-Pacific; and the rest of the world, which includes Middle East and Africa and Latin America.

Segmentation:

The worldwide market for digital vault market can be distinguished into organization size, component, industry vertical, and region.

On the basis of organization size, the worldwide market for digital vault market can be segregated into large enterprises and Small and Medium-sized Enterprises (SMEs).

On the basis of component, the worldwide market for digital vault market can be segregated into identity and access management, data loss prevention, privileged account management, digital asset management, and services.

On the basis of industry vertical, the worldwide market for digital vault market can be segregated into government and defense, Banking, Financial Services, and Insurance (BFSI), media and entertainment, telecom and IT, retail and consumer goods, education, healthcare, and others.

On the basis of region, the worldwide market for digital vault market can be distinguished into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Regional Analysis:

The worldwide market for the digital vault is estimated to grow generously during the review period from 2018 to 2023. Regions such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) have been analyzed thoroughly. According to the study, the global market is projected to be dominated by North America. The region witnessed various incidents of data theft which is estimated to be one of the most crucial factors leading to regional growth. Besides, North America is technically developed and is the first region to adopt the latest technologies.

Moreover, the region consists of various established players, which is another factor developing the region. Among all, the US is anticipated to dominate the market during the assessment period. On the other hand, the APAC region is estimated to be the fastest developing market with the highest CAGR. The increasing digitalization in the region is estimated to be the most substantial factor leading to the expansion. Besides, the presence of emerging countries like India, China, and Japan are projected to boost the regional market exponentially. Further, the application of digital vault in various sectors like BFSI, retail, and consumer goods is anticipated to grow the market faster.

Key Players:

The prominent players in digital vault market are IBM (US), Hitachi (Japan), Micro Focus (UK), Cyberark (US), Microsoft (US), Fiserv (US), Logic Choice (US), Keeper Security (US), Accruit (US), and TokenEx (US)..

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