Global Digital Vault Market, By Component (Privileged account management, Identity and access manage

Published Date: | Report Code : IT1958693

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Market Dynamics

Increasing investments by established economies are expected to drive the growth of the Global Digital Vault Market during the forecast period. This has resulted in some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.

Digital vault enables protect business information. With a rise in the amount of information generation and the desire to safeguard the information produced from attached machines, there is a strong demand for digital vault among customers, which is one of the driving factors responsible for the development of the digital vault industry.

Segment Analysis

As a restraining factor for the digital vault industry, due to low knowledge among end-users regarding policies and solutions created for data security. Nevertheless, the need for cloud-based safety alternatives is anticipated to boost in the upcoming days to accelerate the development of the digital vault industry.

Digital Vault is a highly secure firewall, encryption, and access control solutions data storage system. It stores highly delicate business data-privileged user credentials, access control policies, and audit information. Unauthorized access to these credentials may enable the attacker to obtain complete control over the IT infrastructure of the businesses, leading to critical data loss, economic loss, or continuous downtime of different IT systems. The solution also offers full safety not only for the information stored in the vault but also for the information in transit from the vault to another implementation.

Although digital vault is used in various sectors, some of its prominent vertical sectors include banking, financial services, and insurance (BFSI), government and defense, retail and consumer products, health care, IT and telecommunications, and media and entertainment. The BFSI sector is anticipated to be the biggest contributor on the digital vault market, while retail and consumer goods are anticipated to develop at the highest pace in the coming days as the vertical industry experiences a big amount of cyber-attack events linked to employee or customer identity theft for economic gain or harmful company reputation.

Key Factors Impacting Market Growth:

  • Increasing investments by established economies

  • Rising concern regarding protection of financial data

  • Number of cyber-attacks being on the rise

Regional Analysis

By region, the global digital vault market is estimated to be dominated by North America, Western Europe, and the Asia Pacific during the forecast period. With technological advancements and a cluster of global companies operating in these regions, these regions hold key to the growth and development of a global digital vault market during the forecast period. Most of the leading companies have operations in these regions to cater to the potential end-users in the respective region. The North America global digital vault market is further segmented by the US, Canada, and Mexico, whereas Germany, UK, France, Italy are estimated to be some of the major markets in Western Europe. Asia Pacific region is segmented by China, Japan, South Korea, India, and Australia. The Middle East and Eastern Europe are estimated to be potential markets with growing demand during the forecast period. Major countries in these regions include Russia, UAE, Saudi Arabia, Israel, and others.

Companies Covered: IBM, Hitachi, Micro Focus, Cyberark, Microsoft, Fiserv, Logic Choice, Keeper Security, Accruit, TokenEx.

Market Segmentation:

By Component:

  • Privileged account management

  • Identity and access management

  • Digital asset management

  • Data loss prevention, and services

By Organization size:

  • Large enterprises

  • Small and Medium-sized Enterprises (SMEs)

By Industry Vertical:

  • Banking

  • Financial Services, and Insurance (BFSI)

  • Government and defense

  • Media and entertainment

  • Retail and consumer goods

  • Telecom and IT

  • Education

  • Healthcare

  • Others

By Region:

  • North America

    • By Country (US, Canada, Mexico)

    • By Component

    • Organization size

    • By Industry vertical

  • Western Europe:

    • By Country (Germany, UK, France, Spain, Rest of Western Europe)

    • By Component

    • Organization size

    • By Industry vertical

  • Eastern Europe:

    • By Country (Russia, Turkey, Rest of Eastern Europe)

    • By Component

    • Organization size

    • By Industry vertical

  • Asia Pacific

    • By Country (China, Japan, India, Rest of Asia Pacific)

    • By Component

    • Organization size

    • By Industry vertical

  • Middle East:

    • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)

    • By Component

    • Organization size

    • By Industry vertical

  • Rest of the World

    • By Region (Latin America, Brazil, Rest of the World)

    • By Component

    • Organization size

    • By Industry vertical

Reasons To Buy This Report:

  • Market size estimation of the digital vault market on a regional and global basis

  • The unique research design for market size estimation and forecast

  • Profiling of major companies operating in the market with key developments

  • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment

  • By Sub-segment

  • By Region/Country

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 Regional Analysis

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