STORAGE IN BIG DATA MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics- Drivers

1. Increasing adoption of software-based storage options is expected to drive growth of the global storage in big data market during the forecast period

In software-based storage solution, the storage controller software is disassociated from hardware and takes advantage of industry-standard hardware platforms, in order to deliver a complete range of storage services. This allows different solutions for data storage, data access interfaces, services, and can be delivered in various forms including on cloud. According to Intel Corporation’s study 2016, enterprises are shifting towards software-based storage as performance, capital expenses and scaling are the top three factors considered by data center managers. However, there are several approaches that can be used while deploying software-based storage such as Do-It-Yourself solutions, turnkey solutions and converged and hyper-converged solutions. Hence, these factors are expected to support growth of the global storage in the big data market in the near future.

2. Rising digitization of records supported by governments is expected to propel the global storage in big data market growth over the forecast period

Presence of stringent laws enforced by governments of various countries has led to a massive shift of many companies towards digital maintenance of records, especially in healthcare industry. Increasing digital data volumes is leading to companies increasingly adopting various data storage options. For instance, laws such as American Recovery and Reinvestment Act and Health Information Technology for Economic and Clinical Health (HITECH) Act has been promoting adoption of digital storage of records by hospitals and clinics in the U.S. Thus, these factors are expected to boost the market growth over the forecast period.

Market Dynamics- Restraints

1. High total cost for ownership of flash storage is expected to restrain growth of the global storage in big data market during the forecast period

Flash provides substantial increase in latency and input/output performance as compared to hard disk drive.  As a result of this, popularity of systems and servers with flash storage for different range of workloads has been increasing significantly in the recent past. However, as the total cost of ownership of an SSD (solid-state drive) is relatively higher than a HHD (hard disk drive), adoption rate of flash storage in small scale enterprises continues to remain relatively low. Therefore, these factors are expected to restrict growth of the market in the near future.

2. Reduced budget for data storage is expected to hinder the global storage in big data market growth over the forecast period

Advancements in technology have made a positive impact on economic conditions in developed as well as emerging economies. However, there are various macroeconomic factors that can adversely affect growth of the big data storage market. For instance, economic downturn can significantly impact investments on high and external storage systems. As a result of reduced storage budget, companies are seeking for most cost-efficient and effective methods to store big data. Thus, these factors are expected to hinder the global storage in big data market growth over the forecast period.

Market Opportunity

1. Providing intelligent and dynamic big data storage platforms can present major business opportunities

Majority of organizations are focused on keeping track of all historical data, deleting duplicate entries, and gathering all data. For this purpose, scalable intelligent storage system is required to store exabytes of data, which will help in detecting duplicate entries, and enable swift retrieval of information. Thus, storage system providers should lay emphasis on improving their product offerings based on changing consumer requirements.

2. Offering storage servers close to end users to reduce latency time can provide significant growth opportunities

Establishing storage servers within proximity of end user location can make it easier to retrieve data thereby reducing latency time. Various industries such as media and communication can gain advantages from this setting by saving content in different geographical locations based on popularity of a certain channel or program.