The rise in digital data volume is creating the demand for storage in big data across various manufacturing sector


Posted November 9, 2020 by CMI-marketingvisinory

Storage in big data is also referred to as data-centers, as these systems allow users to process large volumes of data in a highly efficient manner.

 
The most popular forms of storage in Big Data systems are databases as well as the cloud. It consists of various applications, which collectively allow data to be stored and retrieved in multiple systems. These applications allow users to access data from various sources and process them according to their specific needs. Storage in big data systems is mainly targeted at providing users with quick access to data. A large number of enterprises are adopting various techniques like A/B test, machine learning, natural language processing, and A/B testing.
Growing digitization due to increasing internet users around the globe is a prime factor propelling the market growth of storage in big data. According to Forbes, 40% of all technology spending in 2019 will go towards digital transformation. By 2020, an estimated 25% of all customer service operations will use virtual customer assistants. The rise in data volumes is boosting the adoption of various digital data storage solutions. Growth in the number of various connected devices coupled with the rise in the urban population is again fueling the market growth. On the other hand, the high total cost of ownership of flash storage is projected to restrict the market growth of the storage in big data.
North America is expected to gain significant growth over the forecast period and this is attributed to the strong presence of the IT &software industry in the region. According to the International Trade Administration, the United States has the most advanced software and information technology (IT) services industry around the globe. More than 40 percent of the $5 trillion global IT market is in North America, primarily the United States. Moreover, the industry accounts for $1.8 trillion of U.S. value-added GDP (more than 10 percent of the national economy) and 11.8 million.
Key Developments:
1. In February 2017, IBM and Hortonworks have partnered to offer the use of IBM Storage with Hadoop
2. In October 2019, Teradata in partnership with Google announced the launch of its flagship solution Teradata Vantage.
3. In April 2019, KLDiscovery, a provider of Information Governance services, and HubStor, a storage software company and Microsoft Gold Partner, announced a strategic partnership to integrate KLDiscovery's best-of-breed eDiscovery platform, Nebula™, with HubStor's cloud data management platform.
4. In April 2019, Hybrid cloud storage developer Qumulo has expanded its cloud strategy with support for its distributed file storage systems on the Google Cloud Platform.
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Categories Technology
Tags big data , natural language processing , storage in big data
Last Updated November 9, 2020