Global Data Compression Software Market Synopsis
The data experts at Market Research Future Reports ( MRFR ) have thoroughly evaluated the global data compression software market . They have revealed that the market is estimated to value approximately USD 864 million by the end of 2023 . The
Data Compression Software Market is predicted to expand at a CAGR of 7 % during the assessment period . The increasing trend of organizations adopting the cloud to save server space is predicted to be the most significant factor driving the global data compression software market 2020 . Moreover , the fast adoption of IoT by organizations to provide the relevant data without affecting the energy costs is likely to be a major factor for data compression software vendors . Furthermore , the growing demand of data optimization and security among customers is speculated to be an opportunity for the market expansion In addition , the initiatives taken by the small and medium-sized organizations to meet the demands of their clients is estimated to further fuel the market growth .
On the other hand , the outbreak of COVID-19 is projected to bring a slight impact on the global market size . Various regions have been influenced due to the spread of coronavirus . The data experts at MRFR are analyzing the aftermath of COVID-19 . We will provide an impact analysis report on COVID-19 .
Market Segmentation
The worldwide data compression software market can be classified on the basis of type , service , organization size , vertical , deployment , and region .
On the grounds of service , the worldwide data compression software market can be classified into support & maintenance service and professional services .
On the grounds of the type , the worldwide data compression software market can be segmented into lossy compression and lossless compression .
On the grounds of organization size , the worldwide data compression software market can be classified into large enterprises and small & medium enterprises
On the grounds of deployment , the worldwide data compression software market can be segmented into on-premise and cloud .
On the basis of vertical , the worldwide data compression software market can be classified into BFSI , government & defence , I . T . & telecommunication , retail , manufacturing , healthcare , media & entertainment , travel & hospitality , transportation & logistics , and others .
On the basis of geography , the worldwide data compression software market can be classified into North America , Europe , Asia Pacific ( APAC ) and Rest of the World ( RoW ).
Geographical Analysis
the in-depth study of North America , Europe , Asia Pacific ( APAC ) and Rest of the World ( RoW ) has been carried out .