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.
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Segmentation:
The market of storage in big data 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.
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Storage in Big Data Market, By Component (Hardware, Software and Services), By Vertical (BFSI, IT & Telecommunication, Healthcare, Manufacturing, Transportation, Media & Entertainment and Others) - Forecast 2022
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Market ScenarioThe digitization of the data records globally is the primary driving factor of the storage in big data market.
It enable various business especially healthcare to be better managed the data and have up to date data records of the clients.
The study indicates that rising demand of integrated security & safety, cost, backups and precise storage of data is driving the storage in big data market market.
It has been observed that the biggest restraints in the big data storage market are microeconomic factors such as reduced budgets for data storage and high total cost of ownership of flash storage, in addition to improper data representation posing a threat to the global storage in big data market.
Also, this vast amount of data requires special computer powers which is another restraining factor for storage in big data market.Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/2651The storage in big data market is segmented on the basis of component and vertical.
The study reveals that Asia-Pacific market is creating new opportunities in storage in big data market due to improved business performance, meeting customer expectations and increasing competitive edge in the business.Key Players:The prominent players in the storage in big data market are - Amazon Web Services (U.S.), Google Inc. (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Dell EMC (U.S.), Hitachi Data Systems Corporation (U.S.), VMware, Inc. (U.S.), Hewlett Packard Enterprise (U.S), Teradata Corporation (U.S.), among others.Segments:Storage in big data market is segmented on the basis of component and vertical.
North America will continue to be the Largest Market Representing Highest Revenue Share of the Overall Market
According to a report published by RRI, the global market for storage in big data is projected to cross 9.599 Million by 2016 end. By 2026, the market is anticipated to reach US$ 61.44 Billion, expanding at a CAGR of 20.4% during the forecast period (2016–2026).
The global market for big data is primarily driven by increasing digitization of information and data records across the globe. Moreover, stringent regulations introduced by governments of various nations are compelling professional organizations to opt for digital maintenance of their records. This is most noticeable in the healthcare sector. Moreover, growing number of connected devices and rising popularity of software-based storage options is expected to influence the overall market growth during the forecast period. Likewise, the ever expanding digital data size is an additional factor, which is resulting in the higher adoption of data different storage technologies available in the market. In contrast, macroeconomic factors such as the hefty overall cost of acquiring flash storage and limited budget allocations for data storage are likely to hinder the growth of the global market for big data. Similarly, discrepancies in date representation is an additional factor that may pose a threat to overall market growth.
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Based on segment, the global market for storage in big data is segmented into hardware segment, services segment and software segment. Hardware is the largest segment of the global market for storage in big data accounting for over 49% value share of the market in 2015. In addition, the segment is anticipated to witness an incremental $ opportunity of US$ 16.38 Billion over the forecast period. The software segment is expected to witness an incremental $ opportunity of over 11 Billion during 2016 to 2026.
On the basis of industry, the global market for storage in big data in segmented into transportation, healthcare and medical, BFSI, IT and telecommunications, logistics & retail, entertainment, media and, others. In 2015, the BFSI segment accounted for US$ 1,694.1 Million in terms of value and is expected to surpass US$ 2,071 Million by 2016 end, registering a Y-o-Y growth rate of over 22%. The Media and Entertainment segment is projected to reflect healthy Y-o-Y growth rates throughout the forecast period.
On the basis of regions, the global market for storage in big data in segmented into North America, Western Europe, Asia Pacific Excluding Japan (APEJ), Latin America, Eastern Europe, Japan, and the Middle East & Africa (MEA). The market in North America will continue to generate highest revenues over the forecast period, expanding at a CAGR of over 21% through 2026. In addition, the market in the region is expected to reach US$ 30.12 Billion by 2026 end. The Western Europe market for storage in big data is expected to grow the fastest, expanding at a CAGR of 21.8% over the forecast period. Latin America is anticipated to exhibit exciting market opportunities for leading players in the global market for storage in big data during 2016 to 2026.
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Vendor News
Key players operating in the global market for storage in big data include Amazon Web Services Inc., Google Inc., VMware Inc., Dell EMC, Oracle Corporation, Teradata Corporation, MemSQL, Inc. Microsoft Corporation, IBM Corporation, SAS Institute Inc., SAP SE, Hewlett Packard Enterprise, and Hitachi Data Systems Corporation. Most of these companies are actively focusing on higher investment in cloud services, upgrading flash storage product portfolio, offer hybrid storage services, integrating flash technology and cloud with storage devices, and jointly working with various other tech firms in order to improve their global presence and penetrate narrower distribution channels. In addition, leading companies are integrating storage systems with predictive analytics and also offering storage servers to end users in order to reduce latency time.
Summary: Hardware to be the largest segment of the global market for storage in big data during the forecast period.
Report Analysis@https://www.researchreportinsights.com/report/rd/110114957/Storage-in-Big-Data-Market
The storage in the big data market report consists of a detailed assessment that described the different elements.
The global big data technology market value is 36.8 billion, which is a significant number.
It mentions the upcoming features, enhancement, and the growth of the market in the forthcoming years.The global market of big data is growing as the increase in the digitization of information and data.
The storage of big data market produces 20% of CAGR.
These factors help to expand the big data market.
The market is continuously growing in other regions like the Asia Pacific, china, japan, India.
