Erasure Coding Market Emerging Trends And Strong Application Scope

Erasure Coding Market: Introduction

The global erasure coding market is anticipated to reach value of ~US$ 11.9 Mn by 2027. The erasure coding market is projected to expand at a CAGR of 6.5% from 2019 to 2027 in terms of revenue. Growth of the erasure coding market is due to the adoption of erasure coding in small & medium, and large enterprises for data protection and security, which in turn has triggered growth of the market globally. Over the forecast period, North America is anticipated to emerge as the leading erasure Coding market, followed by Europe and Asia Pacific.

Exponential Growth of Data through Erasure Coding

Data protection has become a crucial aspect currently, which is only possible through erasure coding. Erasure coding is the core technology to protect data from failures, which in turn can create exponential growth of data in data centers or in data stations in various small, medium, and large enterprises. Besides, unprecedented growth of data over the past few years has resulted in emergence of artificial intelligence. Growth of big data analytics at a massive rate, which requires high-end computing infrastructure, and subsequent rise in adoption of virtualization technologies has propelled the growth of the erasure coding market.

Furthermore, remarkable rise in small, medium, and large enterprise data has created demand for securing and protecting data storage, data movement, and data management, thus paving the way for new business opportunities along with rising need to address concerns regarding data security. This in turn is expected to accelerate the growth of the erasure coding market globally during the forecast period.

Erasure Coding: Market Segmentation

The global erasure coding market has been segmented in terms of enterprise size, end user, and region. Based on enterprise size, the erasure coding market has been classified into small & medium enterprises, and large enterprises. Among end users, the IT & telecom segment dominated the global erasure coding market in 2018.

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