Storage in Big Data Market is anticipated to reach around USD 21.53 billion by the year 2030.

 


Market Highlights

In this fast driven environment increasing pressure of maintaining data records led to the invention of storage in big data devices. The increase demands of efficient data storage, cost security, backups, and high adoption of software-based storage options and increase in number of connected devices is the driving fuel of the storage in big data market. The usage of storage in big data market has expanded overtime and come up with easy solutions of complex problems. The problems faced by healthcare organizations and retailers are looking for new ways to get more and more data for improving the marketing efforts into the business. 

The storage in big data market 2020 can touch USD $21.53 billion by 2022, says Market Research Future (MRFR). MRFR also confirms that despite the COVID-19 impact, the market can progress at a solid rate of 20% between 2016 and 2022, which is the review period. We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak. 

Renowned Industry Contenders 

Some of the renowned market contenders outlined in the MRFR report include Oracle Corporation (U.S.), VMware, Inc. (U.S.), Teradata Corporation (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Google Inc. (U.S.), Amazon Web Services (U.S.), Hewlett Packard Enterprise (U.S), Dell EMC (U.S.), Hitachi Data Systems Corporation (U.S.), and more.

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Top Boosters and Key Deterrents 

The COVID-19 outbreak has brought together researchers, data scientists and medical professionals to deal with the spread of the pandemic worldwide. Respective sectors are making use of advanced technologies like big data analytics, natural language processing and machine learning to track the novel coronavirus and learn more about it. With the increasing storage of patient data, it has become tough to review each record and reach a solution while looking for a COVID-19 breakthrough. In this situation, big data has emerged as a formidable tool that is helping review diverse datasets while helping detect as well as help recover from COVID-19. Despite the lockdown imposed across countries, the cases have mounted exponentially, which has boosted the use of big data tools to store data with regard to the patients and those that are at risk of getting affected in the future. 

Following the advent of SARS-CoV-2, big data has gained higher impetus in light of organizations like WHO, Microsoft and CDC increasingly developing dashboards that are based on it. This has been a spectacular prospect for the storage in big data market. Further, the growing deployment of cloud computing, internet of things/IoT and software based storage services and devices has also boosted the expansion of the storage in big data industry. 

Multi-cloud storage has emerged as one of the top aspects trending in the storage in big data market data. Some of the renowned public cloud storage vendors such as Microsoft, Google and AWS are striving to boost their offerings with integrated big data capabilities, such as Athena and AWS EMR. Many of the renowned players are also actively launching new solutions and services that have multi-cloud storage abilities in big data. 

For instance, in July 2020, Madison Cloud launched its new solution called Private MultiCloud Storage/PMCS. The new PMCS helps deal with any kind of multi-cloud data issues with a secure, reliable and centralized method to handle cloud storage.

Segmentation:

The storage in big data market has been segmented on the basis of component and vertical. On basis of component the storage in big data market consists of hardware, software and services sub-segment. The software sub-segment can be further bifurcated into software-as-a-service (SaaS), platform-as-a-service (PaaS) and infrastructure-as-a-service (IaaS). The study indicates that software-as-a-service would grow at a highest rate in the storage in big data market by the forecast period. The increasing penetration of cloud based services and demand for smart transport management are expected to drive the software-as-a-service market. Whereas based on vertical segment the BFSI and healthcare organizations are estimated to be the leading the utilization of these services.

Regional Study 

The regional analysis of storage in big data market is being studied for region such as Asia Pacific, Americas, Europe and Rest of the World.

High digitization rate across various industries is cited to be one of the top factors that make North America a global leader in the storage in big data market. The mounting focus on big data management, rising consumption of analytics along with continuous technological innovations in connected information systems are other significant growth boosters in the North American market.

Europe is on track to achieve great heights in the following years, as a result of the tremendous digital transformation, high rate of technological developments, and the rising use of smart connected devices. The significant presence of leading firms combined with the commendable research ecology in the region also adds to the business growth.

However, APAC promises loads of attractive opportunities for the leading storage in big data players, thanks to the massive amount of data being generated across organizations and the increasing government spending on the development of digital technologies. 

Browse Complete Report @ https://www.marketresearchfuture.com/reports/storage-in-big-data-market-2651

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

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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