The Latin America, Middle East and Africa Digital Vault Market would witness market growth of 18.6% CAGR during the forecast period (2022-2028).
The businesses are continually expanding their presence by implementing various technical advancements and engaging in various competitive strategies, such as merging, collaborating, and acquiring other businesses. To maintain their competitive edge in the ever-increasing market environment, businesses also make substantial investments in research and development. For example, Digital Vault Services GmbH (DVS) and Trinity Management Systems GmbH (Trinity) made an announcement of their intention to collaborate in February of 2022.
Trinity and DVS have formed a partnership in order to integrate the Trinity Treasury Management System (TMS) with Guarantee Vault, which is a central registry for digital guarantees and sureties. Through the use of Guarantee Vault, Trinity's clients will have the ability to easily request and manage their digital guarantees from inside their TMS.
The Federal Personal Data Protection (PDP) Legislation was introduced in the United Arab Emirates (UAE) on January 2, 2022. This is a new law that offers a legal framework to safeguard the safety and privacy of personal information. The purpose of the Personal Data Protection Law (PDP Law) is to transform the way businesses respond to data security and privacy standards while also protecting and enhancing the data privacy rights of UAE citizens and residents. Enterprises (as the data controllers) and the suppliers of those businesses (as the data processors) are obliged to show compliance with the UAE PDP Law. Due to the fact that all of these factors indicate that there is a need for a Digital Vault in every business, the demand for the Digital Vault Market is developing in LAMEA.
The Brazil market dominated the LAMEA Digital Vault Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $28.3 million by 2028. The Argentina market is experiencing a CAGR of 19.2% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 18.2% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on End Use, the market is segmented into BFSI, Healthcare, Manufacturing, Government, IT & Telecom, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Digital Vault Market is Projected to reach USD 1.7 Billion by 2028, at a CAGR of 14.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, CyberArk Software Ltd., IBM Corporation, Oracle Corporation, Hitachi, Ltd., Micro Focus International PLC, Fiserv, Inc., Broadcom, Inc. (Symantec Corporation), Microsoft Corporation, and TokenEx, Inc.
By Component
By Deployment Type
By Organization Size
By End Use
By Country
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