Data deduplication is an advanced data compression technique used for reducing duplicate copies of the same data. Data deduplication is the process of identifying and eliminating identical information in a batch of stored data. Data deduplication solutions take a broader view to compare the same blocks or files across large storage data sets and remove redundant files. Network data deduplication is used to reduce the amount of bandwidth required to transfer data. This technique is used in an organization to reduce the amount of storage space utilized to save the same data. Data deduplication solutions allow enterprises to save storage and bandwidth cost. Further, data deduplication offers organizations benefits such as reducing hardware cost, increased storage capacity, and network efficiency.
Data deduplication is a trending technology used by organizations to reduce the need to store the same information file in a storage system. It plays an important role in primary storage by reducing the amount of data duplication. Companies operating in the data deduplication market are investing in advanced solutions. Demand for data deduplication solutions is increasing due to organizations’ need for reducing the redundancy of data in their primary storage. There is a rise in demand for a platform to store data in every industry. Industries such as information & technology; banking, financial services & insurance; oil & gas; and government require data storage solutions. A significant rise in the amount of data and a rise in the need for managing, analyzing, and storing this data are driving the data dedupilcation market. Further, an increase in demand for cloud storage is expected to significantly boost demand for data deduplication in the near future. Increase in demand for innovative time saving technologies to handle the large amount of data generated by enterprises is also anticipated to propel the data deduplication market in the coming years.
However, lack of security in cloud- and server- based services is likely to restrain the data deduplication market during the forecast period. Challenges in data deduplication are numerous, owing to the technological complexity and consistency required in data storage. Development of data storage technology is another challenge for the data deduplication market. Nevertheless, demand for data deduplication solutions from small & medium enterprises is expected to provide an opportunity to the market. The data deduplication market can be segmented based on enterprise size, application, and region. In terms of enterprise size, the data deduplication market can be classified into large enterprises and small & medium enterprises. Based on application, the data deduplication market can be divided into banking and financial services (BFSI), entertainment, digital marketing, education, IT, telecom, government, and others.
In terms of region, the data deduplication market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is a dominant region of the data deduplication market. The market in Asian countries such as China, Japan, and India is expected to expand at a significant rate compared to that in other regions. This is due to the presence of a large number of IT companies in the region. Moreover, companies are investing in the cloud storage model for storing data. This requires the deployment of security solutions for the protection of data and solutions to reduce the redundancy of files. This is likely to propel demand for data deduplication solutions. In data deduplication market, vendors are expanding data deduplication offerings with advancements in solutions as per demand from end-users.
Some of the players offering data deduplication are Oracle Corporation, IBM Corporation, EMC Corporation, FalconStor Software, Quantum Corporation, Symantec Corporation, Hitachi Protection Platform, Sepaton, Dell Inc., and ExaGrid.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.