New compliance regulations trigger email archiving boom
New compliance regulations trigger email archiving boom
Jan 11, 2005: The increasingly regulated environment around information storage and retrieval is helping to bring about a boom in email archiving applications, with the market revenue soaring to over US$180 million (AU$237 million) worldwide in 2004, up from just US$33 million (AU$43 million) two years ago.
A study, released by analyst group IDC, states that the market will continue its rapid expansion at a compound annual growth rate of over 50 percent through 2008, a new IDC. Demand will continue to be driven by the explosive growth in email and other electronic records, the increased regulatory environment and focus on corporate governance, and the need to respond to urgent litigation and discovery requests.
"Organisations now more than ever have a much greater obligation than before to ensure that their email is retained in its original state without being altered, viewed, or deleted by unauthorised people," said Julie Rahal Marobella, senior research analyst, Information Management for Compliance at IDC. "As a result, email archiving has emerged as a crucial piece of a comprehensive, sustainable strategy for corporate compliance, corporate governance, and risk management."
The report also noted that mergers and acquisitions involving email archiving, storage software, and content management vendors are transforming the email archiving market, which is challenging vendors to find the most appealing and efficient way to address both urgent near-term and important long-term customer needs for automating the increasingly important business process of archiving content in internal and external email communications.
"The need to know what information your firm has and where you can store and find that information in an efficient manner is driving the surge in demand for email archiving applications. Whether it is delivered as dedicated solutions or as embedded functionality, email archiving will most likely be appearing in a data centre near you," said Mark Levitt, research vice president, Collaborative Computing at IDC.
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