The digital vaults market is projected to grow significantly, reaching $3.24 billion by 2031, with a compound annual growth rate (CAGR) of 15.1% from 2024 to 2031. Key factors driving this growth include the growing number of regulations and laws aimed at enhancing data protection, the increasing need to secure data generated by connected devices, and a rising frequency of data breaches. Despite these drivers, market expansion is hindered by a lack of awareness among enterprises regarding the importance of robust data security practices.
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