About Data Compression Software Market
Data compression is the process of encoding information to reduce bit rate and shrink data size. Data compression strategically removes bits of files to make them smaller and more manageable. This is done through a variety of compression algorithms, such as 7-Zip, JPEG, ZIP, and bzip2. Reducing required storage hardware capacity, reducing transmission time, faster data transfer, and reducing required communication bandwidth are the benefits of the Data compression software that contributes to its market growth. The increasing need for data storage coupled with rising data volume across different domains are some of the factors that aids in market growth.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The data compression Software Markets are fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain a high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality and enhance and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Data Compression Software Market market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Utopia Compression (United States), PetaGene (United Kingdom), IBM (United States), Exasol (Germany), Opera Software (Norway), Mentis Sciences (United States), VividQ (United States), Hydraulic (United States), Wandera (United Kingdom) and Dotphoton (Switzerland ) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Facebook (United States).
Segmentation Overview
AMA Research has segmented the market of Global Data Compression Software Market market by , Application (Audio compression, Video Compression, Image Compression, Text Compression and Other) and Region.
On the basis of geography, the market of Data Compression Software Market has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Lossy Compression will boost the Data Compression Software Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud will boost the Data Compression Software Market market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing adoption of cloud-based solutions and Rising use of data compression software in mobile devices
Market Growth Drivers:
Increasing demand for faster data transfer and The increasing need for data storage.
Challenges:
Presence of redundancy in the compressed files
Restraints:
Lack of awareness about the benefits of data compression among small and medium enterprise
Opportunities:
Reduced bandwidth function creates opportunity
Market Leaders and their expansionary development strategies
In July 2022, IBM acquried Databand.ai, a leading provider of data observability software that helps organizations fix issues with their data, including errors, pipeline failures, and poor quality before it impact their bottom line. Today's news further strengthens IBM's software portfolio across data, AI, and automation to address the full spectrum of observability and helps businesses ensure that trustworthy data is being put into the right hands of the right users at the right time.
In November 2022 , IBM announced new software designed to help enterprises break down data and analytics silos so they can make data-driven decisions quickly and navigate unpredictable disruptions. IBM Business Analytics Enterprise is a suite of business intelligence planning, budgeting, reporting, forecasting, and dashboard capabilities that provides users with a robust view of data sources across their entire business. Along with IBM Planning Analytics with Watson and IBM Cognos Analytics with Watson, this suite also includes a new IBM Analytics Content Hub that helps streamline how users discover and access analytics and planning tools from multiple vendors in a single, personalized dashboard view.
Key Target Audience
Market research and consulting service providers, Government Agencies, End User Industry, Research institutes and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.