The Data Compression Software market is growing rapidly over 7% of CAGR and is expected to reach at USD 864 Million by the end of forecast period. The key drivers of data compression software market includes growing data consumption across storage devices and that leads to data traffic which is one of the significant reason fuelling the data compression software market growthThe data compression software market is segmented on the basis of type, vertical, service, deployment and organization. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure.
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The prominent players in the data compression software market are- Osisoft, LLC (U.S.),Tegile Systems (U.S.), Wandera (U.K.), Quortus Telecommunications (U.K.), Facebook (U.S.), Google Corporation (U.S.), Opera Software ASA (Norway), Exasol Corporation (Germany), Panoratio Database Images Gmbh (Germany), Exalinks Software (France) among others.
On the basis of regional analysis the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region is generating highest market share in the data compression software market owing to better network infrastructure, digitization and higher technology implementation. Digitization in North America is mainly due to the invention of advanced technology and economies benefitting from it. North America region is leading due to presence of major players from the region in the data compression software market. The adoption of advanced compression technology and data base management by both small and medium enterprises is boosting the market in the region, especially one into IT & telecommunication, healthcare, education and media and entertainment. The data compression software market is gaining demand as organization are demanding for strong security technology that occupies less storage space and prevent unauthorized access to sensitive data. And increased research and development spending by vendors in the region is driving the data compression market. Facebook, one of the leading player in the data compression software market is sourcing a new compression algorithm called Zstandard that aims to replace the common technology behind the Zip file format. Wandera a prominent player in data compression software market is providing data compression solutions to minimize the data consumption by 10% by compressing data in real time.
Data Compression Software Market Segmentation
The data compression software market has been segmented on the basis of region that includes North America, Europe, Asia-Pacific and Rest of the World. North America accounts for highest share in data compression software market owing to well established network infrastructure. Followed by Europe, the market is showing considerable growth and North America region is expected to grow at a faster pace as compare to Europe.
Market Research Analysis:
Regional analysis for data compression software market is studied in different geographic regions as North America, Europe, Asia-Pacific and Rest of World. Europe is one of the prominent player in data compression software market owing to well established network infrastructure. Asia-Pacific region is expected to grow at the highest CAGR in data compression software market owing to high adoption of data compression software by small and medium enterprises in the region. The region is continuously investing into research and development of data compression software market. Increasing IT landscape is boosting the market in the region. The emerging economies from countries such as China, India, Japan and Korea majorly contributes to the revenue generated from the data compression software market in the region. The developing economies from the region is mainly focusing towards the growing demand of compression technology.
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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 Type
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
LIST OF TABLES
Table 1 Data Compression Software Market, By Type
Table 2 Data Compression Software Market, By Service
Table 3 Data Compression Software Market, By Deployment
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LIST OF FIGURES
Figure 1 Research Type
Figure 2 Data Compression Software Market: By Type (%)
Figure 3 Data Compression Software Market: By Service (%)
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