Globally,
the digital vault market is expected to grow from USD 451.63 million in 2018 to
USD 873.81 million by 2023, at a CAGR of 14.1% during the forecast period,
2018–2013.
Market Highlights
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.
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).
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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).
Regional Analysis
The global market for global digital vault is
estimated to grow at a significant rate during the forecast period from 2018 to
2023. The geographical analysis of the market is studied for North America,
Europe, Asia-Pacific, and the rest of the world.
North America is presumed to have moderate growth in
the digital vault market. The US and Canada are the leading countries in the
region. The growth is attributed to the matured digitalization and presence of
many leading vendors in the region. Asia Pacific is anticipated to be the
fastest growing region in the digital vault market over the forecast period.
China, India, Japan, South Korea, and Australia are the leading countries in
the digital vault market. Increasing digitalization and cyber attacks related
to identity theft in the region are the key driving factors for growth of the
market in the Asia-Pacific region.
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Segmentation
The global digital vault market is segmented into
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).
By 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.
By region, the market is segmented into North America,
Europe, Asia-Pacific, and rest of the world.
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