Storage in Big Data Industry Advancement, Target Audience, Growth Prospects Predicted by 2027 | Coronavirus Effects

 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 is growing rapidly over 20% of CAGR and is expected to reach at USD ~30 billion by the end of forecast period.

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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 Analysis

Market Research Future Analysis shows that new adoptions of cloud computing, big data, evolution of servers and network, and Internet of things (IoT) would result in sudden hike in storage in big data market. It has been observed that development in smart data record maintence system results in significant growth in storage of big data market. The major benefits of storage in big data market are improved safety, higher productivity and efficiency, easy storage of data and low installation cost. These factors would significantly increase the storage in big data market very soon. 



Regional analysis for storage in big data market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. The study reveals that North America region would evolve as a leader in storage in big data market. The study indicates large investments by American companies in cloud services and data storage softwares would result in rapid growth of storage in big data market by the forecast period. The study reveals that North America region followed by Europe would lead the storage in big data market by the forecast period. Developing economic countries from Asia-Pacific regions are increasing attention towards cloud based data storage systems and improving business performance and to gain competitive edge in the market.

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. 

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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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