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Digital Vault Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Type, By Organization Size, By End Use, By Regional Outlook and Forecast, 2022-2028

  • PDF Icon

    Report

  • 249 Pages
  • January 2023
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5742341
The Global Digital Vault Market size is expected to reach $1.7 billion by 2028, rising at a market growth of 14.4% CAGR during the forecast period.

A digital vault is a kind of online security vault that may be used to store and protect your digital assets, therefore protecting the information that is most important to you. A digital vault provides a safe location for the safekeeping of a variety of assets, including digital files such as photographs and videos, information required for internet login, and financial data. The market for digital vaults plays an important part in estate planning, particularly in terms of the maintenance of wills and trusts and the provision of simple access to other individuals whenever it is required.

The market for digital vaults is undergoing significant development, and these vaults are increasingly being used as a compliance and operations tool, which assists financial firms in strengthening their level of security. A digital vault is an information storage facility that functions analogously to a fireproof safe but is constructed entirely using digital means. Digital vaults are a kind of highly secure digital deposit box that safeguard an individual's sensitive and confidential information by using firewalls and other forms of access control technology.

The fast growth and investment in the information technology industry has led to the creation of a digital vault, which as a result provides the client with access to a diverse variety of services. When it comes to safely storing sensitive digital assets, a digital vault is the way to go. It is a more comprehensive solution than password managers and far more secure than spreadsheets or other online collaborative applications.

The cloud provides a safe and secure location for a digital vault to store user's most sensitive data. The data will only ever be stored in the vault in their encrypted form. When users access the files, it synchronizes them in an automated manner with a device of their choosing. It assures that even if someone steals or hacks into the computer, which is uncommon but conceivable, they won't be able to view any of the information stored on it until they also have access to the private key. This is a very secure way to protect sensitive data (which only the owner knows). When used with two-factor authentication, the data will be unavailable to anybody who isn't authorized to see it.

COVID-19 Impact Analysis

Digital vault provides organizations with significant benefits, including security on par with that of a bank, increased privacy control combined with ease of access, low cost, and the ability to better maintain organization while also keeping pace with the most recent developments in security standards. During the pandemic, the fast growth in wireless and digital transactions has prompted the need for data security. This requirement has been made necessary by the rapid spread of the virus. During the pandemic, the chances presented by the digital vault business have been helped significantly by these considerations.

Market Growth Factors

An increasing number of compliance requirements and legislation designed to safeguard sensitive data

The regulation requires financial institutions to protect the data of their customers and to maintain the security of operations within the industry. The regulation was first introduced in 2017. The regulation applies to all companies that are regulated by the DFS, including their branches outside of the state and overseas, and it requires those companies to evaluate the cybersecurity risk profiles of their organizations and implement an all-encompassing plan that acknowledges and reduces the risk. During the time of the projection, the demand for the Digital Vault Market will be driven in large part by the increasing compliance and regulatory regulations for data protection.

An increasing amount of worry over the safety of the data produced by linked devices

This may be a sensor that is integrated into a vehicle, a camera that is connected to a network, an implantable heart monitor, an injectable ID chip for a farm animal, a remote-controlled electrical outlet, or something else entirely. Any gadget that is able to transmit data via a network is considered part of the Internet of Things. The Internet of Things (IoT) is a concept that facilitates communication between everyday objects and other computing devices, like cloud servers, desktop and laptop computers, tablets, and mobile phones. As a result, it is predicted that the Digital Vault Market will expand over the duration of the projection.

Market Restraining Factor

The deployment comes at a high cost

The proliferation of vulnerabilities in information technology is driving an ever-increasing need for more advanced protection against cyberattacks. Outdated network security solutions are completely worthless in protecting enterprises from modern threats to their endpoints, clouds, and networks. The absence of sufficient professionals and experts in the area of developing and improving security solutions is one of the primary obstacles. The significant upfront and ongoing costs associated with establishing and maintaining internet security solutions and services dissuade small and medium companies (SMEs) from using them. As a result, the development of the global market for digital vaults would be hampered by these factors over the period covered by the projection.

Component Outlook

Based on the component, the Digital Vault Market is categorized into Solution and Services. In 2021, the solution segment held the largest revenue share in the Digital Vault Market. The solutions provided by the digital vault provide many layers of protection for the data, including a firewall, a control system for data access, and end-to-end encryption. In addition, digital vault solutions incorporate a number of standard and well-known security layers, such as control of your file access through virtual private networks (VPN), encryption, authentication, and a firewall.

Deployment Type Outlook

Based on the deployment type, the digital vault market is segmented into On-Premise and Cloud. In 2021, the On-premise segment garnered the significant revenue share in the market. This On-Premises Digital Vault helps individuals learn how to use the product more successfully and efficiently by organizing and consolidating the many learning materials available to them. The contents contain an introduction to the product's functionality as well as its architecture, components, available integrations, and settings that may be customized.

Organization Size Outlook

Based on the organization size, the Digital Vault Market is divided into large enterprises and small & medium enterprises. In 2021, the large enterprise segment accounted for the major revenue share in digital vault market. Large enterprises are increasingly turning to digital vault solutions in order to keep up with the constantly shifting world of rules and compliance. The use of digital vaults makes it much simpler to check that all of the information is correct and up to date. The use of these digital vaults rather than more conventional storing techniques has a number of benefits, including increased convenience and safety.

End-Use Outlook

Based on the end-use, the digital vault market is categorized into BFSI, IT & Telecom, Manufacturing, Government, Healthcare, and Others. The healthcare segment procured the substantial revenue share in the market during 2021. This is mostly due to the fact that there has been a rise in the number of cyberattacks on the healthcare industry, which is caused by the existence of essential patient data. A digital vault is an essential piece of software that may be used for the purpose of preserving electronic medical data.

Regional Outlook

Based on region, the digital vault market is classified into North America, Europe, Asia Pacific, and LAMEA. The North America region garnered the considerable revenue share in the market in 2021. The presence of developed economies in the area, namely those of the United States and Canada, gives it an advantage over other regions with regard to the employment of highly secure platforms for the storage of data obtained from essential sources. As a result of the growing need for safe repositories for the long-term preservation of vital information, it is anticipated that the area would provide enormous prospects for business expansion to sellers of digital vaults.

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 Geography

North America

  • US
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific

LAMEA

  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

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 & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Digital Vault Market, by Component
1.4.2 Global Digital Vault Market, by Deployment Type
1.4.3 Global Digital Vault Market, by Organization Size
1.4.4 Global Digital Vault Market, by End Use
1.4.5 Global Digital Vault Market, by Geography
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. Global Digital Vault Market by Component
3.1 Global Solution Market by Region
3.2 Global Services Market by Region

Chapter 4. Global Digital Vault Market by Deployment Type
4.1 Global Cloud Market by Region
4.2 Global On-premise Market by Region

Chapter 5. Global Digital Vault Market by Organization Size
5.1 Global Large Enterprises Market by Region
5.2 Global SMEs Market by Region

Chapter 6. Global Digital Vault Market by End Use
6.1 Global BFSI Market by Region
6.2 Global Healthcare Market by Region
6.3 Global Manufacturing Market by Region
6.4 Global Government Market by Region
6.5 Global IT & Telecom Market by Region
6.6 Global Others Market by Region

Chapter 7. Global Digital Vault Market by Region
7.1 North America Digital Vault Market
7.1.1 North America Digital Vault Market by Component
7.1.1.1 North America Solution Market by Country
7.1.1.2 North America Services Market by Country
7.1.2 North America Digital Vault Market by Deployment Type
7.1.2.1 North America Cloud Market by Country
7.1.2.2 North America On-premise Market by Country
7.1.3 North America Digital Vault Market by Organization Size
7.1.3.1 North America Large Enterprises Market by Country
7.1.3.2 North America SMEs Market by Country
7.1.4 North America Digital Vault Market by End Use
7.1.4.1 North America BFSI Market by Country
7.1.4.2 North America Healthcare Market by Country
7.1.4.3 North America Manufacturing Market by Country
7.1.4.4 North America Government Market by Country
7.1.4.5 North America IT & Telecom Market by Country
7.1.4.6 North America Others Market by Country
7.1.5 North America Digital Vault Market by Country
7.1.5.1 US Digital Vault Market
7.1.5.1.1 US Digital Vault Market by Component
7.1.5.1.2 US Digital Vault Market by Deployment Type
7.1.5.1.3 US Digital Vault Market by Organization Size
7.1.5.1.4 US Digital Vault Market by End Use
7.1.5.2 Canada Digital Vault Market
7.1.5.2.1 Canada Digital Vault Market by Component
7.1.5.2.2 Canada Digital Vault Market by Deployment Type
7.1.5.2.3 Canada Digital Vault Market by Organization Size
7.1.5.2.4 Canada Digital Vault Market by End Use
7.1.5.3 Mexico Digital Vault Market
7.1.5.3.1 Mexico Digital Vault Market by Component
7.1.5.3.2 Mexico Digital Vault Market by Deployment Type
7.1.5.3.3 Mexico Digital Vault Market by Organization Size
7.1.5.3.4 Mexico Digital Vault Market by End Use
7.1.5.4 Rest of North America Digital Vault Market
7.1.5.4.1 Rest of North America Digital Vault Market by Component
7.1.5.4.2 Rest of North America Digital Vault Market by Deployment Type
7.1.5.4.3 Rest of North America Digital Vault Market by Organization Size
7.1.5.4.4 Rest of North America Digital Vault Market by End Use
7.2 Europe Digital Vault Market
7.2.1 Europe Digital Vault Market by Component
7.2.1.1 Europe Solution Market by Country
7.2.1.2 Europe Services Market by Country
7.2.2 Europe Digital Vault Market by Deployment Type
7.2.2.1 Europe Cloud Market by Country
7.2.2.2 Europe On-premise Market by Country
7.2.3 Europe Digital Vault Market by Organization Size
7.2.3.1 Europe Large Enterprises Market by Country
7.2.3.2 Europe SMEs Market by Country
7.2.4 Europe Digital Vault Market by End Use
7.2.4.1 Europe BFSI Market by Country
7.2.4.2 Europe Healthcare Market by Country
7.2.4.3 Europe Manufacturing Market by Country
7.2.4.4 Europe Government Market by Country
7.2.4.5 Europe IT & Telecom Market by Country
7.2.4.6 Europe Others Market by Country
7.2.5 Europe Digital Vault Market by Country
7.2.5.1 Germany Digital Vault Market
7.2.5.1.1 Germany Digital Vault Market by Component
7.2.5.1.2 Germany Digital Vault Market by Deployment Type
7.2.5.1.3 Germany Digital Vault Market by Organization Size
7.2.5.1.4 Germany Digital Vault Market by End Use
7.2.5.2 UK Digital Vault Market
7.2.5.2.1 UK Digital Vault Market by Component
7.2.5.2.2 UK Digital Vault Market by Deployment Type
7.2.5.2.3 UK Digital Vault Market by Organization Size
7.2.5.2.4 UK Digital Vault Market by End Use
7.2.5.3 France Digital Vault Market
7.2.5.3.1 France Digital Vault Market by Component
7.2.5.3.2 France Digital Vault Market by Deployment Type
7.2.5.3.3 France Digital Vault Market by Organization Size
7.2.5.3.4 France Digital Vault Market by End Use
7.2.5.4 Russia Digital Vault Market
7.2.5.4.1 Russia Digital Vault Market by Component
7.2.5.4.2 Russia Digital Vault Market by Deployment Type
7.2.5.4.3 Russia Digital Vault Market by Organization Size
7.2.5.4.4 Russia Digital Vault Market by End Use
7.2.5.5 Spain Digital Vault Market
7.2.5.5.1 Spain Digital Vault Market by Component
7.2.5.5.2 Spain Digital Vault Market by Deployment Type
7.2.5.5.3 Spain Digital Vault Market by Organization Size
7.2.5.5.4 Spain Digital Vault Market by End Use
7.2.5.6 Italy Digital Vault Market
7.2.5.6.1 Italy Digital Vault Market by Component
7.2.5.6.2 Italy Digital Vault Market by Deployment Type
7.2.5.6.3 Italy Digital Vault Market by Organization Size
7.2.5.6.4 Italy Digital Vault Market by End Use
7.2.5.7 Rest of Europe Digital Vault Market
7.2.5.7.1 Rest of Europe Digital Vault Market by Component
7.2.5.7.2 Rest of Europe Digital Vault Market by Deployment Type
7.2.5.7.3 Rest of Europe Digital Vault Market by Organization Size
7.2.5.7.4 Rest of Europe Digital Vault Market by End Use
7.3 Asia Pacific Digital Vault Market
7.3.1 Asia Pacific Digital Vault Market by Component
7.3.1.1 Asia Pacific Solution Market by Country
7.3.1.2 Asia Pacific Services Market by Country
7.3.2 Asia Pacific Digital Vault Market by Deployment Type
7.3.2.1 Asia Pacific Cloud Market by Country
7.3.2.2 Asia Pacific On-premise Market by Country
7.3.3 Asia Pacific Digital Vault Market by Organization Size
7.3.3.1 Asia Pacific Large Enterprises Market by Country
7.3.3.2 Asia Pacific SMEs Market by Country
7.3.4 Asia Pacific Digital Vault Market by End Use
7.3.4.1 Asia Pacific BFSI Market by Country
7.3.4.2 Asia Pacific Healthcare Market by Country
7.3.4.3 Asia Pacific Manufacturing Market by Country
7.3.4.4 Asia Pacific Government Market by Country
7.3.4.5 Asia Pacific IT & Telecom Market by Country
7.3.4.6 Asia Pacific Others Market by Country
7.3.5 Asia Pacific Digital Vault Market by Country
7.3.5.1 China Digital Vault Market
7.3.5.1.1 China Digital Vault Market by Component
7.3.5.1.2 China Digital Vault Market by Deployment Type
7.3.5.1.3 China Digital Vault Market by Organization Size
7.3.5.1.4 China Digital Vault Market by End Use
7.3.5.2 Japan Digital Vault Market
7.3.5.2.1 Japan Digital Vault Market by Component
7.3.5.2.2 Japan Digital Vault Market by Deployment Type
7.3.5.2.3 Japan Digital Vault Market by Organization Size
7.3.5.2.4 Japan Digital Vault Market by End Use
7.3.5.3 India Digital Vault Market
7.3.5.3.1 India Digital Vault Market by Component
7.3.5.3.2 India Digital Vault Market by Deployment Type
7.3.5.3.3 India Digital Vault Market by Organization Size
7.3.5.3.4 India Digital Vault Market by End Use
7.3.5.4 South Korea Digital Vault Market
7.3.5.4.1 South Korea Digital Vault Market by Component
7.3.5.4.2 South Korea Digital Vault Market by Deployment Type
7.3.5.4.3 South Korea Digital Vault Market by Organization Size
7.3.5.4.4 South Korea Digital Vault Market by End Use
7.3.5.5 Singapore Digital Vault Market
7.3.5.5.1 Singapore Digital Vault Market by Component
7.3.5.5.2 Singapore Digital Vault Market by Deployment Type
7.3.5.5.3 Singapore Digital Vault Market by Organization Size
7.3.5.5.4 Singapore Digital Vault Market by End Use
7.3.5.6 Malaysia Digital Vault Market
7.3.5.6.1 Malaysia Digital Vault Market by Component
7.3.5.6.2 Malaysia Digital Vault Market by Deployment Type
7.3.5.6.3 Malaysia Digital Vault Market by Organization Size
7.3.5.6.4 Malaysia Digital Vault Market by End Use
7.3.5.7 Rest of Asia Pacific Digital Vault Market
7.3.5.7.1 Rest of Asia Pacific Digital Vault Market by Component
7.3.5.7.2 Rest of Asia Pacific Digital Vault Market by Deployment Type
7.3.5.7.3 Rest of Asia Pacific Digital Vault Market by Organization Size
7.3.5.7.4 Rest of Asia Pacific Digital Vault Market by End Use
7.4 LAMEA Digital Vault Market
7.4.1 LAMEA Digital Vault Market by Component
7.4.1.1 LAMEA Solution Market by Country
7.4.1.2 LAMEA Services Market by Country
7.4.2 LAMEA Digital Vault Market by Deployment Type
7.4.2.1 LAMEA Cloud Market by Country
7.4.2.2 LAMEA On-premise Market by Country
7.4.3 LAMEA Digital Vault Market by Organization Size
7.4.3.1 LAMEA Large Enterprises Market by Country
7.4.3.2 LAMEA SMEs Market by Country
7.4.4 LAMEA Digital Vault Market by End Use
7.4.4.1 LAMEA BFSI Market by Country
7.4.4.2 LAMEA Healthcare Market by Country
7.4.4.3 LAMEA Manufacturing Market by Country
7.4.4.4 LAMEA Government Market by Country
7.4.4.5 LAMEA IT & Telecom Market by Country
7.4.4.6 LAMEA Others Market by Country
7.4.5 LAMEA Digital Vault Market by Country
7.4.5.1 Brazil Digital Vault Market
7.4.5.1.1 Brazil Digital Vault Market by Component
7.4.5.1.2 Brazil Digital Vault Market by Deployment Type
7.4.5.1.3 Brazil Digital Vault Market by Organization Size
7.4.5.1.4 Brazil Digital Vault Market by End Use
7.4.5.2 Argentina Digital Vault Market
7.4.5.2.1 Argentina Digital Vault Market by Component
7.4.5.2.2 Argentina Digital Vault Market by Deployment Type
7.4.5.2.3 Argentina Digital Vault Market by Organization Size
7.4.5.2.4 Argentina Digital Vault Market by End Use
7.4.5.3 UAE Digital Vault Market
7.4.5.3.1 UAE Digital Vault Market by Component
7.4.5.3.2 UAE Digital Vault Market by Deployment Type
7.4.5.3.3 UAE Digital Vault Market by Organization Size
7.4.5.3.4 UAE Digital Vault Market by End Use
7.4.5.4 Saudi Arabia Digital Vault Market
7.4.5.4.1 Saudi Arabia Digital Vault Market by Component
7.4.5.4.2 Saudi Arabia Digital Vault Market by Deployment Type
7.4.5.4.3 Saudi Arabia Digital Vault Market by Organization Size
7.4.5.4.4 Saudi Arabia Digital Vault Market by End Use
7.4.5.5 South Africa Digital Vault Market
7.4.5.5.1 South Africa Digital Vault Market by Component
7.4.5.5.2 South Africa Digital Vault Market by Deployment Type
7.4.5.5.3 South Africa Digital Vault Market by Organization Size
7.4.5.5.4 South Africa Digital Vault Market by End Use
7.4.5.6 Nigeria Digital Vault Market
7.4.5.6.1 Nigeria Digital Vault Market by Component
7.4.5.6.2 Nigeria Digital Vault Market by Deployment Type
7.4.5.6.3 Nigeria Digital Vault Market by Organization Size
7.4.5.6.4 Nigeria Digital Vault Market by End Use
7.4.5.7 Rest of LAMEA Digital Vault Market
7.4.5.7.1 Rest of LAMEA Digital Vault Market by Component
7.4.5.7.2 Rest of LAMEA Digital Vault Market by Deployment Type
7.4.5.7.3 Rest of LAMEA Digital Vault Market by Organization Size
7.4.5.7.4 Rest of LAMEA 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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