target audience: TECH SUPPLIER Publication date: Aug 2023 - Document type: Market Forecast - Doc Document number: # US51161723
Worldwide Archiving Software Forecast, 2023–2027: Market Growth Spike Will Stabilize Over Time
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Abstract
This IDC study analyzes the worldwide archiving software market, which is made up of revenue from both on-premises archiving software and public cloud/SaaS-based archiving services. This study highlights the key trends impacting archiving software providers and the competitive dynamic within the market. It also identifies the most significant drivers and inhibitors impacting the five-year forecast.
"The spike in archiving software revenue growth is likely to drop down and stabilize closer to previous IDC predictions, and the gap between public cloud versus on premises will return to widening over time," said Johnny Yu, research manager, Storage and Computing Infrastructure Software Platforms at IDC. "The cloud-based vendors are still favored with regard to ease of deployment and scalability, and they're still reaping the benefit of being perceived as inherently more secure against cyberthreats."