The global erasure coding market is anticipated to reach value of US$ 11.9 Mn by 2027. The erasure coding market is projected to expand at a CAGR of 6.5% from 2019 to 2027 in terms of revenue. Growth of the erasure coding market is due to the adoption of erasure coding in small & medium, and large enterprises for data protection and security, which in turn has triggered growth of the market globally. Over the forecast period, North America is anticipated to emerge as the leading erasure Coding market, followed by Europe and Asia Pacific.
Exponential Growth of Data through Erasure Coding
Data protection has become a crucial aspect currently, which is only possible through erasure coding. Erasure coding is the core technology to protect data from failures, which in turn can create exponential growth of data in data centers or in data stations in various small, medium, and large enterprises. Besides, unprecedented growth of data over the past few years has resulted in emergence of artificial intelligence. Growth of big data analytics at a massive rate, which requires high-end computing infrastructure, and subsequent rise in adoption of virtualization technologies has propelled the growth of the erasure coding market.
Furthermore, remarkable rise in small, medium, and large enterprise data has created demand for securing and protecting data storage, data movement, and data management, thus paving the way for new business opportunities along with rising need to address concerns regarding data security. This in turn is expected to accelerate the growth of the erasure coding market globally during the forecast period.
Get PDF Brochure for More Insights –
Strides taken by erasure coding, along with Hadoop 3.0 has played an imperative role in enabling users to store over 50% additional data within the same cluster– a much needed technological breakthrough that streamlines data storage requirements. Although the adoption of erasure coding is expected to move in the upward trajectory during the forecast period, companies operating in the current erasure coding market are expected to find solutions to overcome the challenges associated with high CPU usage, latency issues, and pressure on network overheads. In addition, companies are also likely to strike a balance between soaring costs while optimizing the performance of their offerings.
High Adoption in Cloud Storage Systems to Augment Market Growth
Technological advancements and evolving data requirements are set to play an important role in boosting the prospects of the erasure coding market during the assessment period. As storage efficiency continues to remain important for business organizations, the adoption of erasure coding in large-scale cloud storage systems is on the rise, particularly for data protection from the server and other types of failures in a datacenter. Some of the most common erasure coding techniques that have gained traction include Striping Encoding and Replicating Encoding. The adoption of these two techniques is on the rise, as they minimize network traffic, have an improved write performance, and read performance. The significant development in cloud storage systems is expected to shape the growth of the erasure coding market during the forecast period. The adoption of erasure coding is on the rise in an array of end-use industries, including healthcare, IT & telecom, BFSI, retail, government, and media & entertainment.
Erasure Coding: Market Segmentation
The global erasure coding market has been segmented in terms of enterprise size, end user, and region. Based on enterprise size, the erasure coding market has been classified into small & medium enterprises, and large enterprises. Among end users, the IT & telecom segment dominated the global erasure coding market in 2018.
Buy an Exclusive Research Report at – https://www.transparencymarketresearch.com/checkout.php?rep_id=29087<ype=S
Erasure Coding Market: Regional Outlook
In terms of region, the global erasure coding market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the erasure coding market during the forecast period. The U.S. is estimated to hold a notable share of the market in North America and the market in the country is projected to expand at a CAGR of 6.8% during the forecast period, due to increasing adoption of erasure coding systems. Asia Pacific held a substantial share of the global erasure coding market in 2018 with China, India, and Japan being the major markets in the region. The erasure coding market in Europe, Middle East & Africa, and South America is also projected to expand moderately over the forecast period.
The report provides in-depth segment analysis of the global erasure coding market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the erasure coding market.
Ask for Special Discount on Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=29087
Erasure Coding Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global erasure coding market. Key players profiled in the report include Hewlett Packard Enterprise Company, Teradata Corporation, Pure Storage, Inc., Pivot3, Oracle Corporation, Nutanix, Inc., NetApp, Inc., Nephos Technologies, Lenovo, Huawei Technologies Co., Ltd., Hitachi Ltd., Fujitsu Limited, and Alphabet Inc.
TMR Latest News Publication:
- High Efficiency Video Coding Solutions Market- https://www.transparencymarketresearch.com/high-efficiency-video-coding-solutions-market.html
- Computer Assisted Coding Market-https://www.transparencymarketresearch.com/computer-assisted-coding-market.html
- Coding Bootcamp Market- https://www.transparencymarketresearch.com/coding-bootcamp-market.html
- Online Coding for Kids Market- https://www.transparencymarketresearch.com/online-coding-for-kids-market.html
- Medical Coding Market- https://www.transparencymarketresearch.com/medical-coding-market.html
About Transparency Market Research
Transparency Market Research is a global market research reports company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200,
Wilmington, Delaware 19801 USA
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Blog: https://tmrblog.com
