The Growing World of e-Vaulting
The cloud computing industry is experiencing tremendous growth. Several independent research firms have projected that the global market for cloud computing will easily surpass 200 billion by 2020. And offsite data management is increasingly being utilized in developing countries as well, as these types of software services become more affordable and easy to access. Demand is growing, and may even be outpacing supply.
A subset of that market, data vaulting or e-vaulting, is becoming more common as well. A number of industries are turning to e-vaulting for fast and secure backup and recovery in the event of data loss. E-vaults can back up valuable data in multiple offsite locations and ensure a faster recovery point objective and recovery time objective, in the event of a major hardware or software failure.
Not surprisingly, the financial, legal, and medical industries have gravitated towards e-vaulting solutions. So too has the public sector, along with government contractors and nonprofits/NGOs. The size of the business or organization isn’t really the driving factor here—it’s the type of work that they do. Data protection laws around the world are becoming increasingly stringent, particularly in these fields. E-vaulting offers legal and financial protection, greatly minimizing the risk of critical data disappearing into the ether. This trend is projected to continue as more and more business information migrates from the physical realm (paper) to the virtual realm (digital).
Another nice thing about e-vaulting: even though they’re in the "vault," so to speak, your files aren't 100% out of circulation or your reach. Think of it as placing your data on "active reserve" duty. As with other types of cloud computing, those files can be (or, rather, should be) accessible. Provided that they’re well organized, it shouldn’t take much time to find the information that you’re looking for. Something else to keep in mind is that with less expensive services, your data may be safe, but it may also be harder to access.
With stronger regulations being enacted in the U.S., across the European Union, and in other countries around the globe, it seems certain that data protection and storage will continue to become a high growth area, as more and more businesses recognize its benefits. In general, this is consistent with the larger trend towards cloud computing services that we’ve seen.