Healthcare Archiving Ediscovery Market to Record 9.58% Y-O-Y Growth Rate in 2022|Evolving Opportunities with Microsoft Corp., and Smarsh Inc. |17000+ Technavio Reports

NEW YORK, Jan. 12, 2022 /PRNewswire/ -- 42% of the growth will originate from North America for the healthcare archiving ediscovery market. 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. The healthcare archiving Ediscovery market size is expected to increase by USD 1.95 billion from 2021 to 2026, registering a CAGR of  10.19%, according to the latest research report from Technavio.

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The healthcare archiving ediscovery market covers the following areas:

• Healthcare Archiving Ediscovery Market Sizing
• Healthcare Archiving Ediscovery Market Forecast
• Healthcare Archiving Ediscovery Market Analysis

Healthcare archiving ediscovery market - Driver
The key factor 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. 

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.

Healthcare archiving ediscovery market - Segmentation

The healthcare archiving ediscovery market analysis includes deployment (on-premise and cloud-based) and geography (North America, Europe, Asia, and ROW).

Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

Companies Mentioned

The healthcare archiving Ediscovery market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

• 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.
• Smarsh Inc.

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