The digital vault market is cementing its foothold by improving at a CAGR of 14.1% during the forecast period 2018–2023. The market is set to achieve a valuation of $873.81 million from $451.63 million in 2018, according to the study conducted by Market Research Future.
The need for rapid integration and iterative processing with the colossal amounts of data produced across the globe is one of the major factors driving the AI in workspace market. Iincreasing demand for smart devices is also contributing towards the AI in workspace market growth over the review period.
Cyber security market growth can be attributed to increasing focus on business continuity plans to provide optimized security for customer data and operations. Increasing focus on cyber security is a critical business imperative expected to further drive the market with a higher proportion for security policies and infrastructure.
A strong need to keep enterprise data secured from advanced cyber-attacks and meet stringent compliance requirements act as the major driving factors for global growth of the digital vault market. However, limited security spending and availability of various cyber security solutions to protect enterprise data are restraining growth of the market.