Market Highlights
As per Market Research Future (MRFR) analysis, the high adoption rate of big data technology can impel the expansion of the global storage in big data market. The deployment of big data and the evolution of servers, ease of connectivity can bolster the growth of the big data technology market. Enterprises exercising Internet of things (IoT) can also result in the storage in big data market surge. Developments in smart data record maintaince system is expected to contribute significantly to the expansion of the global storage of big data market. Benefits of storage in big data, such as improved safety, more efficiency, higher productivity, low installation cost, and easy storage of data can act as the storage in big data market growth boosters. MRFR study states that the global storage in big data market, at 20% CAGR can value at USD 30 Bn by 2022.
The growing need for better in-effect data record maintaince and more capacity for data backups at affordable price with robust security features can promote the worldwide storage in big data market growth. The increase in the adoption of software-based storage alternatives and rise in the number of connected devices ownerships can propel the storage in big data market growth. The utility of storage in big data solutions due to their ability to come up with effective easy solutions to settle complex problems across sectors, such as healthcare and retail can favor the storage in big data market growth.
Segmentation:
The storage in big data industry is studied by vertical and component. By component, the storage in big data market segments are software, hardware, and services. The software segment includes platform-as-a-service (PaaS), software-as-a-service (SaaS), and infrastructure-as-a-service (IaaS). The software-as-a-service segment can surge at a decent CAGR in the forecast period. The penetration of cloud solutions and the high demand for smart transport management solutions can prompt software-as-a-service segment growth. The vertical-based segments of the storage in big data market are BFSI, Healthcare, IT & Telecommunication, Transportation, Manufacturing, and media & entertainment. The high rate of adoption of storage in big data across BFSI and healthcare can boost the storage in big data market growth.
Key Players
MRFR identified some major players in the storage in big data market. They are; Google Inc. (U.S.), Amazon Web Services (U.S.), Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Dell EMC (U.S.), Oracle Corporation (U.S.), VMware, Inc. (U.S.), Hitachi Data Systems Corporation (U.S.), Teradata Corporation (U.S.), Hewlett Packard Enterprise (U.S), and others. The rise in the demand for storage in big data by different enterprises is encouraging designers to develop more effective innovations. Launch of new products can benefit the global storage in big data market. Mergers and acquisitions, collaborations, and other deals among key players are expected to favor the storage in big data market.
Regional Analysis
In North America, the storage in big data market is likely to take lead in the global market. The hefty investments made by American companies in research for the development of effective data storage software and cloud services can boost the regional storage in big data market. Europe storage in big data can attain substantial valuation on the conclusion of the evaluation period. Developing countries of APAC are focusing on cloud-based data storage solutions to improve their business performance and achieve a competitive edge in the worldwide market, thus is likely to drive the expansion of the APAC storage in big data market.