E-mail archival potentially a $5 million industry
Email marketing firm Netcore suggests email archival as a business is worth $2 billion globally and $5 million in India alone.
Email archival is a growing industry, and according to email marketing firm Netcore, is globally worth $2 billion, and growing at near 25 per cent. The value of the industry is estimated at $5 million in India. According to the company research, an employee in India receives around 600 emails a week and email archival and retrieval is a problem for over 80 per cent of the users.
Pankaj Agrawal, Business Head, Netcore, said, “The email archiving market is an almost $2 billion market globally and is growing at a CAGR of close to 25 per cent. However, this market is in an early stage in India. As per rough estimates, the market size in India is around $5 million. The way this market has evolved globally is that the initial growth is driven by compliance, but soon the business benefits become compelling enough for even industries not governed by compliance to start adopting mail archiving. In India, we see the same beginning to happen.”
Sebastian Joseph, President Technology, Mudra Communications, said, “Only 15-20 per cent of the mails have attachments, including graphics, which occupy more than 75 per cent of the entire mailbox. These needs to be preserved for litigation purposes regardless how backdated they may be. The major issue with discovery requests is that there is no specific time limit which defines how far back a company must search.”
According to a study conducted by Netcore, 57 per cent of the organisations procure email archiving solutions to retrieve old emails, and 47 per cent of the organisations also use it to recover deleted emails. Other reasons include HR investigations and legal compliance, at 41 per cent and 26 per cent of the organisations, respectively.
Citing the advantages, Godwin Fernandes, CTO, ASK Investment, said, “Email Archiving helps avoid any inadvertent deletion by users and also enables to quickly restore emails in case of a system crash, thus lowering administrative costs. By archiving emails, organisations are considered to be following good practices model.”
As dependence on email in organisations grows, the requirement for archival solutions will also grow, and the development of the industry is one which shows promise for the future.
