Compliance, Legal Discovery, and Storage Optimization to Drive Worldwide Email Archiving Applications Market to Nearly $1.4 Billion in 2011, IDC Predicts
FRAMINGHAM, MA – June 4, 2007 – The worldwide email archiving applications market grew 45% in 2006 driven by the need for email archiving to satisfy compliance, legal discovery, and storage optimization requirements. IDC expects the market to approach $1.4 billion in 2011, with a five-year compound annual growth rate (CAGR) of 23.4%.
"The hosted service delivery segment of the market posted surprisingly strong growth in 2006, fueled in part by financial services customers looking to transition their old SEC/NASD compliant archiving solutions into more robust message archiving platform architectures," said Vivian Tero, senior research analyst for Compliance Infrastructure at IDC. "Customers are demanding integrated workflows that support legal discovery and audit requirements. In addition, the aggressive reduction in the cost of connectivity and storage combined with rising awareness of the new legal regime to underpin the green-field opportunities in the non-SEC compliant SMB and mid-market segments."
"Email archiving is increasingly fueled by both business and IT requirements for electronic discovery and regulatory compliance as well as performance, capacity, and storage optimization," said Laura DuBois, research director for Storage Software at IDC. "We expect over the next five years to see email and other content archiving solutions converge as firms continue to focus on managing information versus infrastructure."
Other key findings include:
— Symantec/KVS lead the market in 2006 followed by Zantaz (based on revenue).
— The hosted delivery model revenue will grow at a faster CAGR through 2011 than the on-premise one.
— While the Americas will continue to account for the bulk of the spending, revenue contribution from EMEA and Asia/Pacific will rise over the forecast period.
IDC's study, Worldwide Email Archiving Applications 2007-2011 Forecast and 2006 Vendor Shares: Storage Optimization, Mailbox Management, and Records Retention for eDiscovery and Compliance Drive Investments (IDC #206729), provides a market sizing of the worldwide email archiving applications market in 2006 as well as a 2007-2011 forecast. This study also presents the 2006 revenue for top vendors, as well as profiles and competitive nature of key players.
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