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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