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The healthcare archiving ediscovery market share is expected to increase by USD 1.95 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.19%.
This healthcare archiving ediscovery market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers healthcare archiving ediscovery market segmentation by deployment (on-premise and cloud-based) and geography (North America, Europe, Asia, and ROW). The healthcare archiving ediscovery market report also offers information on several market vendors, including Allscripts Healthcare Solutions Inc., Alphabet Inc., Barracuda Networks Inc., Bloomberg LP, Commvault Systems Inc., General Electric Co., Global Relay Communications Inc., International Business Machines Corp., Microsoft Corp., and Smarsh Inc. among others.
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The rising volume of electronic data is notably driving the healthcare archiving ediscovery market growth, although factors such as rising data security and privacy concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the healthcare archiving ediscovery industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Healthcare Archiving Ediscovery Market Driver
One of the key factors driving growth in the healthcare archiving ediscovery market is the rising volume of electronic data. Enterprises generate data from various sources such as enterprise applications, social networks, web-based searches, and cloud-based applications. With huge volumes of data at hand, organizations are looking to make the best use of raw data and convert it into useful information that would help in their decision-making process. They are focusing on installing data management and data discovery solutions, such as ediscovery solutions, as a part of data analytics. Cloud-based solutions help in easy big data management and analytics in a cost-effective manner. Against the background of the rapidly evolving dynamics or changing aspects of business, it has become essential for organizations worldwide to innovate continuously and keep revising their existing business models and enterprise infrastructure. With improved content as well as process management abilities, the adoption of healthcare archiving solutions is rising significantly. Such factors will drive the growth of the global healthcare archiving eDiscovery market.
Key Healthcare Archiving Ediscovery Market Challenge
The rising data security and privacy concerns will be a major challenge for the healthcare archiving ediscovery market during the forecast period. The increase in the number of cyberattacks in the healthcare industry has raised considerable concerns over privacy and data protection among players in the industry, including hospitals, clinics, and insurance companies. With the integration of data-generating devices into healthcare systems and the growing availability of data from health insurance companies and hospitals in a centralized place, healthcare organizational information and patient data have become vulnerable to cyberattacks. The current trend toward the digitalization of healthcare workflows and the maintenance of electronic patient records has seen a paradigm shift in the healthcare industry. Hence, the concerns over data security are expected to hinder the growth of the global healthcare archiving eDiscovery market.
This healthcare archiving ediscovery market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the healthcare archiving ediscovery market encompasses successful business strategies deployed by the key vendors. The healthcare archiving ediscovery market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The healthcare archiving ediscovery market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
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42% of the market's growth will originate from North America during the forecast period. The US is the key market for healthcare archiving discovery in North America. Market growth in this region will be faster than the growth of the market in the European and ROW regions.
The significant presence of a large number of healthcare archiving ediscovery software vendors and the increasing adoption of healthcare archiving ediscovery will facilitate the healthcare archiving ediscovery market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The healthcare archiving ediscovery market share growth by the on-premise segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the healthcare archiving ediscovery market size and actionable market insights on post COVID-19 impact on each segment.
Healthcare Archiving Ediscovery Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.19% |
Market growth 2022-2026 |
$ 1.95 billion |
Market structure |
Fragmented |
YoY growth (%) |
9.58 |
Regional analysis |
North America, Europe, Asia, and ROW |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Allscripts Healthcare Solutions Inc., Alphabet Inc., Barracuda Networks Inc., Bloomberg LP, Commvault Systems Inc., General Electric Co., Global Relay Communications Inc., International Business Machines Corp., Microsoft Corp., and Smarsh Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Deployment
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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