Storage compression also known as source coding is the process of encoding, modifying, or converting the content size to consume less space on a disk for data storage and representation. Storage compression reduces the data size by replacing and/or removing the repetitive data instance and symbols. It also allows the storage size reduction of one or more data elements in the data files. Storage compression solution is useful particularly in communication technology to enable the devices to transmit the same amount of content in fewer bits. Storage compression solutions can speed up file transfer, decrease costs for storage hardware, and can save on data storage capacity. Storage compression solutions are used for database management systems, spreadsheet applications, and utility backup. These solutions work through software solutions and compressing technique that utilizes data compression algorithms to reduce the size of the data.
Increasing data consumption across various mobile devices which is leading to growing data traffic is expected to be the major driver of the storage compression solutions market. Strong proliferation of mobile devices and adoption of wireless communications technologies have created the demand for efficient storage compression solutions to reduce data traffic. Additionally, storage compression solutions encompass the technologies and algorithms to improve and maximize the performance of data storage resources. Storage compression solutions are frequently used for efficient management of old record files and data in the Banking, Financial services and Insurance (BFSI) industry, which is likely to fuel the market growth. Therefore, the BFSI industry vertical is expected to account for significant share in the storage compression solutions market. Storage compression vendors offer a broad range of solutions to different corporations for data security to avoid large data traffic. Moreover, storage compression solutions drive down the bits data so as to increase system performance by reducing power consumption and managing data at storage to avoid complications.
Nonetheless, transmission errors due compressed data and required hardware acceleration to handle the storage system are expected to hinder the growth of the global storage compression solutions market. However, to overcome these challenges, market players are making tremendous efforts on innovating novel technologies for storage compression solutions.
The global storage compression solutions market can be segmented on the basis of application, industry vertical, type, deployment, and regions. Based on application, the storage compression solutions market can be segmented into file system compression, storage array compression, NAS compression, backup storage compression, and data duplication. On the basis of industry vertical, the storage compression solutions market can be segmented into IT & telecommunication, education, media & entertainment, healthcare, legal, transportation & logistics, BFSI, retail, and others. Moreover, in terms of type, the storage compression solutions market can be segmented into lossless data compression and lossy data compression. Based on deployment, the storage compression solutions market is segmented into cloud and on-premise.
Based on regions, the storage compression solutions market is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The storage compression solutions market is expected to be highly dominated by North America due to the presence of well-established key players in the U.S. and strong adoption of storage compression solutions by large enterprises. Furthermore, the storage compression solutions market in Asia Pacific is estimated to rise at a strong growth rate over the forecast period due to developing economies such as India and China. The growth in the Asia Pacific region is also the result of the adoption of advanced storage compression solutions to enhance business efficiency especially from BFSI and retail industries.
The key players operating in the storage compression solutions market are Fujitsu Limited, CVISION Technologies, Inc., DataCore Software Corporation, Maxlinear Inc., Pure Storage, Inc., Oracle Corporation, IBM Corporation, Opera Software AS, Compression Solutions, Inc., and CA Technologies among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in 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.
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
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.
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.