Global Data Compression Software Market Synopsis
The data experts at Market Research Future Reports
(MRFR) have thoroughly evaluated the global data compression software market.
They have revealed that the market is estimated to value approximately USD 864
million by the end of 2023. The Data Compression Software Market is predicted to expand at a
CAGR of 7% during the assessment period.
Key Players
The established competitors of the global data
compression software market are Tegile Systems (U.S.), Exalinks Software
(France) Osisoft, LLC (U.S.), Wandera
(U.K.), Facebook (U.S.), Google Corporation (U.S.), Exasol Corporation
(Germany), Opera Software ASA (Norway), Quortus Telecommunications (U.K.),
Panoratio Database Images Gmbh (Germany), and a few others.
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Industry Highlights
The increasing trend of organizations adopting the
cloud to save server space is predicted to be the most significant factor
driving the global data compression software market 2020. Moreover, the fast
adoption of IoT by organizations to provide the relevant data without affecting
the energy costs is likely to be a major factor for data compression software
vendors.
On the other hand, the outbreak of COVID-19 is
projected to bring a slight impact on the global market size. Various regions
have been influenced due to the spread of coronavirus. The data experts at MRFR
are analyzing the aftermath of COVID-19. We will provide an impact analysis
report on COVID-19.
Market Segmentation
The worldwide data compression software market can
be classified on the basis of type, service, organization size, vertical,
deployment, and region.
On the grounds of service, the worldwide data
compression software market can be classified into support & maintenance
service and professional services.
On the grounds of the type, the worldwide data
compression software market can be segmented into lossy compression and
lossless compression.
On the grounds of organization size, the worldwide
data compression software market can be classified into large enterprises and
small & medium enterprises
On the grounds of deployment, the worldwide data
compression software market can be segmented into on-premise and cloud.
On the basis of vertical, the worldwide data
compression software market can be classified into BFSI, government &
defence, I.T. & telecommunication, retail, manufacturing, healthcare, media & entertainment, travel &
hospitality, transportation & logistics, and others.
On the basis of geography, the worldwide data
compression software market can be classified into North America, Europe, Asia
Pacific (APAC) and Rest of the World (RoW).
Geographical Analysis
the in-depth study of North America, Europe, Asia
Pacific (APAC) and Rest of the World (RoW) has been carried out.
As per the research, the global market is likely to
expand magnificently during the forecast period. The study reveals that the
global market is estimated to be dominated by North America. North America is
likely to acquire the most significant market revenue. The advanced network
infrastructure, digitization of the region, and higher deployment of technology
are the most significant element resulting in the market growth. Besides, the
region consists of several players who contribute efficiently in expanding the
market. Among all, the U.S. and Canada are estimated to make the most crucial
participation in expanding the market. On the other hand, the Asia-Pacific
region is likely to grow at the highest CAGR during the assessment period. The
organizations in the APAC region are investing massively for a developed
solution to make the business more efficient.
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