Big data storage is a storage infrastructure specially designed to store, manage and retrieve massive volumes of big data. The global storage in big data market is anticipated to grow at USD 30 billion by 2022, a CAGR of 20 % during the forecast period of 2016 and 2022.
Digitization, Adoption Of Smart Devices, And Growing Connectivity Is The Prime Driver Of The Market
Growing digitization, adoption of smart devices, increasing connectivity, are the prime drivers of the market. The growing availability of data is reflected by the study conducted by Pew research. The study reveals that in contrast to a median of 45 % across developing countries using the internet in 2013, the number in 2015, rose to a whopping 54 %. In 12 emerging nations surveyed in 2014 and 2015, there was a significant increase in the share of adult internet users accessing internet several times a day, including in Nigeria (+20 points), Ghana (+19) and China (+13).
Growing adoptions of cloud computing and the internet of things (IoT) have boosted the storage in big data market.
Advancements In Technology And Storage Devices Are Expected To Generate A Significant Demand
The development of high volume storage technology such as Blu-ray disk with improved network connectivity features is driving down the cost of big data lakes storage. Solid state drives provide better performance, higher readability, robustness, high data speed, stability and reliability, and resiliency, is a further market attraction.
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Growth in Investments and Impressive Application Potential and Expanse is the Most Significant Market Opportunity
BIG data storage provides attractive benefits like scalability, high speed, advanced analytics, centralization, and integration of data under one platform, benefiting coherence and pattern identification. An enormous market enthusiasm has been generated by investments by technology giants including Microsoft Corporation, Informatica, Teradata Corporation, Capgemini, EMC Corporation and Oracle Corporation entering the fray.
The potential applications of big data technologies include price optimization, search engine optimization (SEO), business forecasting, business intelligence, better sample selection for analytics, and others. The opportunities include quantification of the link between actions and revenues, higher market penetration, better customer targeting and engagement, real-time data for feedback, corrective actions to prevent customer switching, not to mention better customer satisfaction. The development of analytics computer languages has resulted in the faster growth of Azure data storage and Hadoop data storage systems.
Concerns For Data Security And Privacy May Hamper The Market
The market barriers are concerns for data security and privacy, legal restrictions, integration of multi-point and multi-sectorial cross-channel data resulting in growing complexity of data management, issues of data governance and standardization.
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.
Storage in Big Data Market 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.
Market Research 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.
- Healthcare Organizations
- Cloud service providers
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- Bank & financial agencies
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TABLE OF CONTENTS
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
4 Executive Summary
5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.2 Supply Chain Analysis
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