Enterprise Information Archiving Market size is expected to witness commendable growth over 2021-2027. This is driven by the increasing usage of EIA software for email retention and compliance, along with its data reduction capabilities across content indexing, content types, and retention management. Likewise, increasing challenges associated with the growth of enterprise data, including operational inefficiencies and revenue loss, will also stimulate the industry demand in the upcoming years. Enterprise information archiving refers to the usage of different storage methods for business data, both unstructured and structured. EIA software combines solutions and products for archiving user messaging content like SMS, instant messaging, email, and business and public social media data, as well as provides tools for classification and e-discovery of content.
Rising implementation of stringent regulations to safeguard enterprise data is one of the key trends bolstering the global enterprise information archiving market share over 2021-2027. For example, the European Union introduced the GDPR (General Data Protection Regulation) in May 2021, to help citizens gain more control over their personal data. Such regulations will influence businesses to adopt EIA tools to archive and secure personal data including email. Additionally, the increasing volume of unstructured data and its importance in making crucial business decisions are also likely to proliferate the adoption of the enterprise information archiving solutions.
With regards to end-use, the enterprise information archiving market from the e-Commerce segment is poised to depict a considerable growth rate through 2027. This can be credited to the dramatic surge in online sales amid movement restrictions induced by the coronavirus pandemic. Additionally, the introduction of robust information archiving solutions, such as Dell EMC SourceOne, to manage and secure multiple email and important files will also amplify demand for the solution across the e-Commerce sector.
Latin America is set to emerge as a lucrative revenue pocket for the enterprise information archiving industry by 2027, given the expansion of digital payment platforms in countries like Brazil. The rapid surge in digital transactions will boost the need for enterprise information archiving systems, as all the financial information needs to be stored to ensure audit readiness. In August 2021, Argentina's telecom regulator Ente Nacional de Comunicaciones approved funding worth $33.5 million to enhance broadband connectivity, which will facilitate the deployment of enterprise information archiving tools to retrieve high volumes of communication data in the region.
The competitive landscape of the global enterprise information archiving market comprises companies such as Solix Technologies, Inc., Everteam (Kyocera Document Solutions), OpenText Corporation, Micro Focus International, Global Relay Communications Inc., ZL Technologies, Mimecast Services Limited, Proofpoint, Inc., Barracuda Networks, Inc., Veritas Technologies, LLC, Dell Technologies, Inc., HPE, IBM Corporation, Microsoft Corporation, and Google LLC, among others. These market players are implementing strategies such as new solution launches and business expansions to boost their presence across the global market. For instance, in October 2020, Proofpoint, Inc. unveiled a compliance solution, Content Capture, for Microsoft Teams. This new solution was designed to enable firms to retain, review, and capture content and messages in native format to help organizations adhere to the rules set forth by regulators like SEC and FCA, among others.
The ongoing coronavirus pandemic has posed dramatic impacts across all sectors of the economy, including media and entertainment. The implementation of lockdown resulted in the shutdown of outdoor entertainment, particularly events and cinemas, during the peak of the pandemic, causing content supply chains to dry up. These challenging situations may hinder the use of EIA tools to store and archive media and entertainment content.
However, accelerated digital transformation and surge in e-Commerce during the pandemic may provide growth opportunities for the enterprise information archiving market over the forthcoming years. For example, Latin America-based Mercado Libre sold twice as many products per day via e-commerce in the second quarter of 2020, as compared to the same period a year earlier. This gradual shift to digital shopping platforms as the new normal will likely increase the need for robust enterprise information archiving systems, to efficiently manage growing volumes of retail and e-commerce data.