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.
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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).
On the basis of 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. Finally, the regions covered in this study are North America- US, Canada, and Mexico; Europe- Germany, France, the UK, and the rest of Europe; Asia-Pacific- China, India, Japan, and the rest of Asia-Pacific; and the rest of the world, which includes Middle East and Africa and Latin America.
The global digital vault market 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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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).
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