Press Release / Technology / Some of the Major Growth Strategies Followed by Key Players in the Data Compression Software Market

Some of the Major Growth Strategies Followed by Key Players in the Data Compression Software Market

Data Compression Software Market The global data compression software market is expected to reach USD ~864 billion by the end of 2023 with ~7 % CAGR during forecast period 2018-2023

Data Compression Software Market, By Type (Lossless Compression, Lossy Compression), By Deployment (Cloud, On-Premise), By Service (Support and Maintenance Service), By Vertical (IT & Telecommunication, Media & Entertainment) - Forecast 2023

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Key Players:

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.

Market Highlights:

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.

North America region account for highest market share in data compression software market owing to presence of major players in the region and adoption of data compression software solution by small and large enterprises. Countries such as US and Canada contributes large amount of revenue in the data compression software market in the region. Asia‐Pacific region is expected to be growing at the highest CAGR. Enterprises in the region are investing huge in data compression tools and more advanced solution to improve business efficiency and data storage techniques is boosting the market in the region.

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.

The 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. Cloud solution enable enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to governance and make enterprise legally prepared. By type it consists of lossless data compression and lossy data compression. Lossless data compression has many benefits such as the compress file can be recreated back to the original one, it possess excellent compression ratio and is very easy to use and is able to spilt archives into multiple volumes and repair the damage file, it can automatically detect the type of file need to be compressed and adjust the compression rate accordingly.

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

1.1 Introduction

1.2 Scope Of Study

1.2.1 Research Objective

1.2.2 Assumptions

1.2.3 Limitations

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

Continued…

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

Continued…

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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 (%)

Continued…

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