STORAGE IN BIG DATA MARKET ANALYSIS (2019-2027)

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2. STORAGE IN BIG DATA MARKET ANALYSIS • Storage in Big Data Market, by Segment (Hardware (DAS – internal (OEM), DAS – external (OEM), DAS – other (ODM Direct), ESCON/FICON, NAS, SAN, Tape Systems and Media), Software and Services), by Industry (BFSI , IT and Telecommunications , Transportation, Logistics & Retail, Healthcare and Medical, Media and Entertainment and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview Big data storage refers to a compute and storage architecture that gathers and operates vast data sets and allows real-time data analytics. Many companies employ big data analytics to collect greater intelligence from metadata. Big data storage allows the storage and sorting of big data in such a way that it can be easily used, accessed, and processed by applications and services working on big data. Moreover, big data can be flexibly scaled as required. Many end-use industries employ big data storage including BFIS, media and entertainment, IT and telecommunications, healthcare and medical, transportation, logistics, retail, etc. The global Storage in Big Data Market was accounted for US$ 17,391.4 Mn in terms of value in 2019 and is expected to grow at CAGR of 20.4% for the period 2020-2027

4. Market Dynamics- Drivers Increasing adoption of software-based storage options is expected to drive growth of the global storage in big data market during the forecast period In software-based storage solution, the storage controller software is disassociated from hardware and takes advantage of industry-standard hardware platforms, in order to deliver a complete range of storage services. This allows different solutions for data storage, data access interfaces, services, and can be delivered in various forms including on cloud. According to Intel Corporation’s study 2016, enterprises are shifting towards software-based storage as performance, capital expenses and scaling are the top three factors considered by data center managers. However, there are several approaches that can be used while deploying software-based storage such as Do-It-Yourself solutions, turnkey solutions and converged and hyper-converged solutions. Hence, these factors are expected to support growth of the global storage in the big data market in the near future.

5. Rising digitization of records supported by governments is expected to propel the global storage in big data market growth over the forecast period Presence of stringent laws enforced by governments of various countries has led to a massive shift of many companies towards digital maintenance of records, especially in healthcare industry. Increasing digital data volumes is leading to companies increasingly adopting various data storage options. For instance, laws such as American Recovery and Reinvestment Act and Health Information Technology for Economic and Clinical Health (HITECH) Act has been promoting adoption of digital storage of records by hospitals and clinics in the U.S. Thus, these factors are expected to boost the market growth over the forecast period. North America region dominated the global Storage in Big Data Market in 2019, accounting for 47.4 % share in terms of value, followed by Europe, Asia Pacific, Middle East and Africa and Latin America.

7. Market Dynamics- Restraints High total cost for ownership of flash storage is expected to restrain growth of the global storage in big data market during the forecast period Flash provides substantial increase in latency and input/output performance as compared to hard disk drive.  As a result of this, popularity of systems and servers with flash storage for different range of workloads has been increasing significantly in the recent past. However, as the total cost of ownership of an SSD (solid-state drive) is relatively higher than a HHD (hard disk drive), adoption rate of flash storage in small scale enterprises continues to remain relatively low. Therefore, these factors are expected to restrict growth of the market in the near future. Reduced budget for data storage is expected to hinder the global storage in big data market growth over the forecast period Advancements in technology have made a positive impact on economic conditions in developed as well as emerging economies. However, there are various macroeconomic factors that can adversely affect growth of the big data storage market. For instance, economic downturn can significantly impact investments on high and external storage systems. As a result of reduced storage budget, companies are seeking for most cost-efficient and effective methods to store big data. Thus, these factors are expected to hinder the global storage in big data market growth over the forecast period.

8. Market Opportunity Providing intelligent and dynamic big data storage platforms can present major business opportunities Majority of organizations are focused on keeping track of all historical data, deleting duplicate entries, and gathering all data. For this purpose, scalable intelligent storage system is required to store exabytes of data, which will help in detecting duplicate entries, and enable swift retrieval of information. Thus, storage system providers should lay emphasis on improving their product offerings based on changing consumer requirements. Offering storage servers close to end users to reduce latency time can provide significant growth opportunities Establishing storage servers within proximity of end user location can make it easier to retrieve data thereby reducing latency time. Various industries such as media and communication can gain advantages from this setting by saving content in different geographical locations based on popularity of a certain channel or program.

10. Market Trends Availability of storage convergence on hybrid cloud Hybrid cloud storage is the most realistic option available for data storage, particularly for projects that include a large number of data points. Enterprises collect data from different sources including data that is stored over the public cloud, private cloud and data centers, which is then aggregated and moved from one location to another. For instance, in September 2016, IBM Corporation launched z system storage and software and expanded open software ecosystem to accelerate hybrid cloud integration. Moreover, in August 2016, VMware, Inc. and IBM Corporation extended their partnership to enable easy hybrid cloud adoption. This has enabled over 500 of their clients to extend their existing workloads and apps to the cloud in relatively short periods of time.

11. Growing utilization of erasure coding for big data management Due to increasing adoption of cloud-based storage and high capacity hard disk drives, exabytes of data need to be examined and stored can be done with the help of erasure code technology. Erasure codes are widely used to protect against catastrophic failures, such as total loss of data. For instance, in February 2016, Microsoft Corporation published a whitepaper highlighting the benefits of using of new set of codes for erasure coding called Local Reconstruction Codes (LRC), which the company is implementing in Windows Azure Storage (WAS). Segment information: In global Storage in Big Data Market, by Segment, hardware sub-segment dominated the global market in 2019, accounting for 44.3% share in terms of value, followed by Software and Services respectively.

13. Competitive Section Key players operating in the global storage in big data market are MemSQL Inc., Google Inc., Hitachi Data Systems Corporation, Microsoft Corporation, Hewlett Packard Enterprise, Amazon Web Services, Inc., Teradata Corporation, VMware, Inc., SAP SE, IBM Corporation, Oracle Corporation, Dell EMC, and SAS Institute Inc. Key Developments Major companies in the market are focused on business expansion, in order to gain competitive edge in the market. For instance, in September 2017, Hitachi Data Systems Corporation created an IoT focused company name Hitachi Vantara. Key players in the market are involved in product launches, in order to enhance product portfolio. For instance, in December 2019, Amazon Web Services introduced Redshift RA3 to let customers scale computer and storage separately.

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