Storage In Big Data MarketSize and Trends

Market Insight- Global Storage in Big Data Market

Market Overview

Big data storage refers to a compute and storage architecture that gathers and operates vast data sets and allows real-time data analytics. Many companies employ big data analytics to collect greater intelligence from metadata. Big data storage allows the storage and sorting of big data in such a way that it can be easily used, accessed, and processed by applications and services working on big data. Moreover, big data can be flexibly scaled as required. Many end-use industries employ big data storage including BFIS, media and entertainment, IT and telecommunications, healthcare and medical, transportation, logistics, retail, etc.

The global Storage in Big Data Market was accounted for US$ 17,391.4 Mn in terms of value in 2019 and is expected to grow at CAGR of 20.4% for the period 2020-2027

Market Trends

Availability of storage convergence on hybrid cloud

Hybrid cloud storage is the most realistic option available for data storage, particularly for projects that include a large number of data points. Enterprises collect data from different sources including data that is stored over the public cloud, private cloud and data centers, which is then aggregated and moved from one location to another. For instance, in September 2016, IBM Corporation launched z system storage and software and expanded open software ecosystem to accelerate hybrid cloud integration. Moreover, in August 2016, VMware, Inc. and IBM Corporation extended their partnership to enable easy hybrid cloud adoption. This has enabled over 500 of their clients to extend their existing workloads and apps to the cloud in relatively short periods of time.

Growing utilization of erasure coding for big data management

Due to increasing adoption of cloud-based storage and high capacity hard disk drives, exabytes of data need to be examined and stored can be done with the help of erasure code technology. Erasure codes are widely used to protect against catastrophic failures, such as total loss of data. For instance, in February 2016, Microsoft Corporation published a whitepaper highlighting the benefits of using of new set of codes for erasure coding called Local Reconstruction Codes (LRC), which the company is implementing in Windows Azure Storage (WAS).