Global Data Compression Software Market- Industry Analysis

Data compression is a reduction in the number of bits required to represent data. Data compression helps in improving data communication through the internet or any network, which is rising the implementation of data compression software across various industries.

Global Data Compression Software Market size was valued US$ XX Mn. in 2019 and is expected to grow at a CAGR of 7.8% over 2020-2027, to account for US$ XX Mn. in 2027.

The report covers an in-depth analysis of COVID 19 pandemic impact on Global Data Compression Software Market by region and on the key players’ revenue affected till July 2020 and expected short term and long-term impact on the market.

 

Global Data Compression Software Market Overview:

The development of the market is attributed to the growing demand for data security and optimization among customers. The MMR report covers all the trends and technologies playing a major role in the growth of the data compression software market over 2020-2027. Such as the rising trend of organizations adopting the cloud to save server space is foreseen to the most major factor fueling the data compression software market globally.

The fast adoption of IoT by organizations to offer the relevant data without moving the energy costs are expected to major factor for the vendors of data compression software. Furthermore, the enterprises have taken by the small and medium-sized organizations to meet the demands of their clients are expected to further drive the market growth. However, transmission error due to compressed data is expected to hamper the growth of the global data compression software market.

Following are the best file compression software, which will easy to compress files for easy storage:

• Winzip
• WinRAR
• 7-Zip
• Zip Archiver
• PeaZip

Segment Overview:

By deployment, the cloud segment is expected to account for the largest XX% market share by 2027. Cloud deployment helps enterprises by reducing costs related to the IT infrastructure. It also provides enterprises with data security and protection, offers data integrity information correlated to governance and make enterprise officially prepared.

Global Data Compression Software Market

Based on type, the lossless compression segment held the largest market share of XX.23% in 2019 and is projected to reach US$ XX Mn. by 2027. Lossless data compression has various advantages like the compressed file can be re-formed back to the original one. However, the lossy compression segment accounted for XX% of the global revenue in the year 2019. Likewise, the MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the data compression software market size.

Geographical Overview:

In 2020, North America dominated the data compression software market with a market size of US$ XX million thanks to better network infrastructure, higher technology, and digitization implementation. Digitization in the USA is mainly because of the invention of advanced technology and economies helping from it. The adoption of database management and advanced compression technology by both small and medium-enterprises is booming the market in North America, especially in media and entertainment, healthcare, IT & telecommunication, and education.

APAC also play important roles in the data compression software market, with a market size of US$ XX Mn. in 2019 and will be US$ XX Mn. by 2027, with a CAGR of XX%. This growth is attributed to the region is continuously investing in the R&D of the data compression software market. Growing IT landscape is enhancing the market in Asia. The developing economies like India, China, Korea, and Japan majorly contribute to the revenue created from the APAC data compression software market.

Competitive Landscape

The MMR report also focuses on global major leading industry players of data compression software market providing information such as company profiles, production, cost, and revenue.

Facebook is one of the prominent company in the data compression software market is sourcing a new compression algorithm called Zstandard that goals to replace the common technology behind the Zip file format. Wandera a leading player in the market is offering data compression solutions to reduce data consumption by 10 percent by compressing data in real-time.

Global Data Compression Software Market1

The objective of the report is to present a comprehensive analysis of the Global Data Compression Software Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Data Compression Software Market dynamics, structure by analyzing the market segments and projects the Global Data Compression Software Market size. Clear representation of competitive analysis of key players by End Use, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Data Compression Software Market the report investor’s guide.
Scope of the Global Data Compression Software Market

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Global Data Compression Software Market, by Type

• Lossless Compression
• Lossy Compression
Global Data Compression Software Market, by Service

• Professional Service
• Support and Maintenance Service
Global Data Compression Software Market, by Deployment

• Cloud
• On-Premise
Global Data Compression Software Market, by Organization Size

• Small & Medium Enterprises
• Large Enterprises
Global Data Compression Software Market, by Vertical

• Government & Defense
• BFSI
• IT & Telecommunication
• Healthcare
• Retail
• Manufacturing
• Travel & Hospitality
• Transportation & Logistics
• Media & Entertainment
• Others
Global Data Compression Software Market, by Region

• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in the Global Data Compression Software Market

• 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)
• Others

This Report Is Submitted By : Maximize Market Research Company

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Originally posted at AnalyticsWeek