The North America Digital Vault Market would witness market growth of 13.7% CAGR during the forecast period (2022-2028).
It is anticipated that the market for digital vaults will see considerable growth throughout the duration of the projection. It is anticipated that the market for software that acts as a digital vault will expand at a breakneck speed because to the progressive increase in the number of online transactions and the amount of paperwork that is saved online. Because they have their own policies, procedures, and protocols in place, the information that is kept in the digital vault is protected to a very high degree against unauthorized access.
In addition, the amount of money the customer is prepared to spend determines the degree of security that may be provided by the digital vault. The digital vaults provide protection against a wide variety of natural disasters, including tornadoes, hurricanes, and fires, amongst others. During the period under consideration, it is predicted that these factors will contribute to an increase in the market share held by digital vaults.
In 2019, New York expanded its data breach notification law by adding the express requirement that enterprises develop, implement, and maintain 'reasonable' safeguards to protect the security, confidentiality, and integrity of private information. Importantly, the SHIELD Act (N.Y. Gen Bus. Legislation 899-bb) in New York outlines a variety of administrative, technological, and physical protections that, if implemented, are considered to fulfill the reasonableness criterion outlined in the law in New York. In order to do so, the state established minimum standards for cybersecurity and mandated that businesses undertake periodic risk assessments and file annual compliance certifications (23 NYCRR 500). Because of the necessity to safeguard data in the BFSI industry, digital data protection solutions are required; as a result, the demand in the digital vault market in North America is growing.
The US market dominated the North America Digital Vault Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $364.6 million by 2028. The Canada market is poised to grow at a CAGR of 15.9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 15.6% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on End Use, the market is segmented into BFSI, Healthcare, Manufacturing, Government, IT & Telecom, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, CyberArk Software Ltd., IBM Corporation, Oracle Corporation, Hitachi, Ltd., Micro Focus International PLC, Fiserv, Inc., Broadcom, Inc. (Symantec Corporation), Microsoft Corporation, and TokenEx, Inc.
It is anticipated that the market for digital vaults will see considerable growth throughout the duration of the projection. It is anticipated that the market for software that acts as a digital vault will expand at a breakneck speed because to the progressive increase in the number of online transactions and the amount of paperwork that is saved online. Because they have their own policies, procedures, and protocols in place, the information that is kept in the digital vault is protected to a very high degree against unauthorized access.
In addition, the amount of money the customer is prepared to spend determines the degree of security that may be provided by the digital vault. The digital vaults provide protection against a wide variety of natural disasters, including tornadoes, hurricanes, and fires, amongst others. During the period under consideration, it is predicted that these factors will contribute to an increase in the market share held by digital vaults.
In 2019, New York expanded its data breach notification law by adding the express requirement that enterprises develop, implement, and maintain 'reasonable' safeguards to protect the security, confidentiality, and integrity of private information. Importantly, the SHIELD Act (N.Y. Gen Bus. Legislation 899-bb) in New York outlines a variety of administrative, technological, and physical protections that, if implemented, are considered to fulfill the reasonableness criterion outlined in the law in New York. In order to do so, the state established minimum standards for cybersecurity and mandated that businesses undertake periodic risk assessments and file annual compliance certifications (23 NYCRR 500). Because of the necessity to safeguard data in the BFSI industry, digital data protection solutions are required; as a result, the demand in the digital vault market in North America is growing.
The US market dominated the North America Digital Vault Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $364.6 million by 2028. The Canada market is poised to grow at a CAGR of 15.9% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 15.6% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on End Use, the market is segmented into BFSI, Healthcare, Manufacturing, Government, IT & Telecom, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, CyberArk Software Ltd., IBM Corporation, Oracle Corporation, Hitachi, Ltd., Micro Focus International PLC, Fiserv, Inc., Broadcom, Inc. (Symantec Corporation), Microsoft Corporation, and TokenEx, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Services
By Deployment Type
- Cloud
- On-premise
By Organization Size
- Large Enterprises
- SMEs
By End Use
- BFSI
- Healthcare
- Manufacturing
- Government
- IT & Telecom
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Johnson Controls International PLC
- CyberArk Software Ltd
- IBM Corporation
- Oracle Corporation
- Hitachi, Ltd
- Micro Focus International PLC
- Fiserv, Inc
- Broadcom, Inc. (Symantec Corporation)
- Microsoft Corporation
- TokenEx, Inc
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Digital Vault Market, by Component
1.4.2 North America Digital Vault Market, by Deployment Type
1.4.3 North America Digital Vault Market, by Organization Size
1.4.4 North America Digital Vault Market, by End Use
1.4.5 North America Digital Vault Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Digital Vault Market by Component
3.1 North America Solution Market by Country
3.2 North America Services Market by Country
Chapter 4. North America Digital Vault Market by Deployment Type
4.1 North America Cloud Market by Country
4.2 North America On-premise Market by Country
Chapter 5. North America Digital Vault Market by Organization Size
5.1 North America Large Enterprises Market by Country
5.2 North America SMEs Market by Country
Chapter 6. North America Digital Vault Market by End Use
6.1 North America BFSI Market by Country
6.2 North America Healthcare Market by Country
6.3 North America Manufacturing Market by Country
6.4 North America Government Market by Country
6.5 North America IT & Telecom Market by Country
6.6 North America Others Market by Country
Chapter 7. North America Digital Vault Market by Country
7.1 US Digital Vault Market
7.1.1 US Digital Vault Market by Component
7.1.2 US Digital Vault Market by Deployment Type
7.1.3 US Digital Vault Market by Organization Size
7.1.4 US Digital Vault Market by End Use
7.2 Canada Digital Vault Market
7.2.1 Canada Digital Vault Market by Component
7.2.2 Canada Digital Vault Market by Deployment Type
7.2.3 Canada Digital Vault Market by Organization Size
7.2.4 Canada Digital Vault Market by End Use
7.3 Mexico Digital Vault Market
7.3.1 Mexico Digital Vault Market by Component
7.3.2 Mexico Digital Vault Market by Deployment Type
7.3.3 Mexico Digital Vault Market by Organization Size
7.3.4 Mexico Digital Vault Market by End Use
7.4 Rest of North America Digital Vault Market
7.4.1 Rest of North America Digital Vault Market by Component
7.4.2 Rest of North America Digital Vault Market by Deployment Type
7.4.3 Rest of North America Digital Vault Market by Organization Size
7.4.4 Rest of North America Digital Vault Market by End Use
Chapter 8. Company Profiles
8.1 Fiserv, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Acquisition and Mergers:
8.1.5 SWOT Analysis
8.2 Broadcom, Inc. (Symantec Corporation)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.2.5 SWOT Analysis
8.3 Oracle Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 SWOT Analysis
8.4 IBM Corporation
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional & Segmental Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Microsoft Corporation
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 SWOT Analysis
8.6 Johnson Controls International PLC
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental & Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 Recent strategies and developments:
8.6.5.1 Acquisition and Mergers:
8.7 CyberArk Software Ltd.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Research & Development Expenses
8.7.5 Recent strategies and developments:
8.7.5.1 Acquisition and Mergers:
8.8 Hitachi, Ltd.
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expenses
8.9 Micro Focus International PLC
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Research & Development Expenses
8.10. TokenEx, Inc.
8.10.1 Company Overview
Companies Mentioned
- Johnson Controls International PLC
- CyberArk Software Ltd.
- IBM Corporation
- Oracle Corporation
- Hitachi, Ltd.
- Micro Focus International PLC
- Fiserv, Inc.
- Broadcom, Inc. (Symantec Corporation)
- Microsoft Corporation
- TokenEx, Inc.
Methodology
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