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The Digital Vaults Market is expected to reach $2.77 billion by 2030, growing at a CAGR of 14.4% from 2023 to 2030. This market’s growth is driven by factors such as the increasing regulations and legislation aimed at strengthening data protection, the rising demand to safeguard data generated by connected devices, and the surge in data breaches. However, the growth of this market is somewhat hampered by the lack of awareness about data security among enterprises.
Additionally, the increasing digitalization of businesses and the growing adoption of digital vaults in the banking, financial services, and insurance (BFSI) sector are expected to offer significant growth opportunities to market stakeholders. On the other hand, the low level of digitalization in developing countries, high costs associated with digital vaults, and the availability of alternative cybersecurity solutions pose significant challenges to the market. Moreover, the growing adoption of cloud-based security solutions has emerged as a notable trend in the digital vaults market.
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Top Companies Operating in the Digital Vaults Market
Microsoft Corporation
Founded in 1975 and headquartered in Washington, U.S., Microsoft Corporation offers a wide array of services, including cloud-based solutions for a variety of customers across software, platforms, and consulting services. Its digital vault solutions securely store and control access to sensitive enterprise and personal data, such as tokens, passwords, and API keys, which integrate with other Azure services. Microsoft operates through three business segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.
IBM Corporation
IBM, founded in 1911 and based in New York, U.S., is a global leader in IT products and services. The company provides infrastructure, software, and consulting services to support digital transformation, with a strong focus on hybrid cloud and AI technologies. IBM’s digital vault solutions protect against logical data corruption, isolating safeguarded data in separate logical partitions to enhance cyber resiliency. The company operates through four segments: Software, Consulting, Infrastructure, and Financing.
Oracle Corporation
Established in 1977 and headquartered in Texas, U.S., Oracle is a leader in enterprise IT solutions. Oracle’s digital vault solutions, including Oracle Database Vault and Oracle Key Vault, offer robust security controls that protect against insider and outsider threats, ensuring compliance and data protection in on-premises and cloud environments. The company’s operations are divided into three segments: Cloud and License, Hardware, and Services.
Fiserv, Inc.
Founded in 1984 in Wisconsin, U.S., Fiserv is a global provider of technology solutions for payments and financial services. Its data vaulting solutions offer automated data backup and storage with end-to-end encryption, enhancing regulatory compliance and operational efficiency. Fiserv operates through three business segments: Merchant Acceptance, Financial Technology, and Payments and Network.
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Google LLC
Headquartered in California, U.S., Google LLC provides advanced cybersecurity, data analytics, and infrastructure solutions. Google Vault, part of the Google Workspace suite, allows businesses to retain, search, and export critical organizational data, offering secure, scalable storage across cloud, on-premises, or hybrid deployments. It is a crucial tool for businesses using Google Workspace to manage and secure their data.
Veritas Technologies LLC
Founded in 1983 and based in California, U.S., Veritas Technologies is a leader in multi-cloud data management. Its Enterprise Vault captures and migrates information across communication platforms, ensuring compliance and facilitating data storage from on-premises to the cloud. Veritas also offers managed services for Enterprise Vault, ensuring seamless monitoring, management, and compliance.
HashiCorp, Inc.
Founded in 2012 and headquartered in California, U.S., HashiCorp provides cloud-based and on-premises security solutions. Its Vault product supports multiple platforms, offering extensible plugins for securing secrets and enabling cryptographic operations on sensitive data. HashiCorp’s solutions help businesses automate provisioning, security, networking, and application delivery.
CyberArk Software Ltd.
CyberArk, founded in 1999 and based in Israel, is a global leader in identity security. Its digital vault solutions offer high security and isolation to store sensitive data like passwords and privileged credentials. CyberArk’s solutions are designed to protect against identity-based cyberattacks, operating both on-premises and through SaaS models.
FutureVault Inc.
Founded in 2014 and headquartered in Ontario, Canada, FutureVault provides secure digital vault solutions for the financial services and wealth management sectors. The company’s white-label vault solutions enable organizations to securely manage and store client documents, ensuring compliance and audit readiness while driving operational efficiency.
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Hitachi Vantara LLC
Based in California, U.S., Hitachi Vantara, a subsidiary of Hitachi Ltd., offers digital vault solutions tailored for regulatory and compliance needs. Its customizable data repository provides centralized storage with policy-driven controls for secure data retention, deletion, and modification across both cloud and on-premises environments. The company also provides end-to-end infrastructure solutions and consulting services.
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