Digital Vault Market | Competitive Landscape and Digital Vault Share Analysis
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The growing number of data breaches is expected to influence businesses to opt for a digital vault, thereby boosting the market demand over the forecast period.
PORTLAND, PORTLAND, OR, UNITED STATE, October 27, 2021 /EINPresswire.com/ -- Growing compliances and regulations to protect sensitivedata such as digital credentials and passwords of end user is a driver for the digital vault market.Rising concern for protecting data generated from connected devices is boosting the growth of digital vault market.
However, lack of awareness about data security measures is hindering the growth of digital vault market. Contrarily, growing need for cloud-based security solutions is expected to boost the growth of digital vault market in the forecasted years.
Digital Vault provides some standard services to ensure that its content is protected, such as long-term repository, overall network security and extremely secure regardless of the physical topology of the network.
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Digital Vault provides an effective way to protect and control critical information about the end user, and it allows an organization to secure sensitive data by increasing its use of the digital vault.
North America is expected to have the largest market share during the forecast period, owing to the increasing mandate for secured source for long-term storing of serious information. In addition, small & medium sized organizations have accepted cloud-based solutions to modernize their business methods, which propels growth of the market in the region.
Impact of COVID-19 onTop of FormDigital Vault Market:
• Since the COVID-19 virus outbreak in December 2019, the disease has extent to almost all countries around the world, with the WHO announcing it a public health emergency. The global impacts of the disease are already opening to be manipulated, and estimated to significantly affect the global digital vault market in 2020.
• The worldwide lockdown has run all industries to move to online approach, as a result there is enormous amount of information that is uploaded on cloud. Thus, to safe and achieve data efficiently on cloud creates demand fordigital vault solution.
• Overall, the pandemic is expected to have a positive impact on the global digital vault market.
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Major players analyzed in the market includeAccruit LLC, CyberArk, Hitachi Ltd., International Business Machines Corporation, Johnson Controls International Plc, Keeper SecurityInc., Micro Focus International Plc, Multicert, Oracle Corporation, and TokenEx.
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