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Global Storage Resource Management Market Projected to Reach USD 118 Million by 2026

19-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “Storage Resource Management Market By Type (Cloud and On-Premise) and By Application(Defense and Aviation, Construction, and Manufacturing): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Storage Resource Management market in 2019 was approximately USD 40 Million. The market is expected to grow above a CAGR of 17% and is anticipated to reach over USD 118 Million by 2026.

The global store-management market is expected to grow steadily over the forecast period due to increased data generation due to high internet usage. The increase in cloud-based systems is expected to stimulate market demand growth over the predicted timeframe in the recent past.

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Data management provides operational benefits for the client by optimizing efficiency in the handling of electronic data. It is used to monitor and control storage performance efficiency that enables efficient resource management and optimisation, which in turn allows companies to identify unused capacity and use it for future usage. This also helps organisations to recognise obsolete information that is being moved or relocated to different locations. It maximizes the organizations ' ability to store information, and allows them to reduce their operating costs. Space management needs are projected to increase over the forecast period with rapid growth in enterprise data generation and complexity in computing.

When the amount of data grows, companies are faced with problems like unorganized and unstructured data, like emails, web pages and other related details. Rising operating costs and the need to effectively manage such data have become a major market problem in the recent past It has been noted that the rapid adoption of such systems has resulted in increased gateway demands. Gateway is a software or hardware dependent appliance that resides at the client's premises and serves as a link between remote storage systems and local applications. Because companies only have to pay for the space they use to store data, this decreases the companies ' operating costs. Therefore, these advantages are expected to further the demand over the forecast period.

This provides direct access through a web interface to a wide range of software and services that are operated by another organisation. Some of this method's benefits have increased its popularity in recent past. A few vendors made accessing stored information simple through mobile apps. Demand in this sector has increased nearly unlimited space at a fair price in recent years, and that trend is expected to continue over the forecast period.

The primary restriction for this sector is data protection, which is expected to negatively impact business growth and development. Malicious hacking techniques have seen rapid growth in the recent past and are expected to affect productivity and profit margins in the industry. Service providers in this field need to adapt to adapting and updating their systems in accordance with data security management requirements. It is predicted these disruptive technologies will have a detrimental impact on the global economy over the next eight years.

Shift, stability, and successful technological advancements are expected to provide sufficient opportunities for growth and development for industry participants. During the forecast era, the shortage of skilled and qualified staff is expected to present a major challenge to the business growth. Performance issues relating to transfer rate, upload, extraction, and quality control are expected to work over the forecast period as major bottlenecks for this industry. Growth in demand for a single data accumulation solution is the latest development in this field, which is expected to play a key role in shaping the market in the years to come.

On the basis of type, Cloud dominated the market in 2019 and was accounted for approximately 67% shares world wide. This segement is projected to grow even more over the forecast period owing to its features such as comfortable easy to use and convenient to access. Based on application, manufacturing segment held significant shares in 2019. The surge in growth of this segment is attributable to the rising industrialization globally.

By region, North America dominated the global market in 2019, owing the strict application of safety measures in the working area and increasing awareness among the population combined with easy accessibility and affordable cost of Storage Resource Management Industry .

Top key players operating in the market are Etymotic Research, 3M, Honeywell, Hellberg Safety, Phonak, NoNoise, SensGard, Sensear, Silenta Group, Starkey, and Others.

This report segments the Storage Resource Management market as follows:

Global Storage Resource Management Market: By Type Segmentation Analysis

  • Earplugs
  • Earmuffs

Global Storage Resource Management Market: By Application Segmentation Analysis

  • Defense and Aviation
  • Construction
  • Manufacturing

Global Storage Resource Management Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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