Big Data Storage Market to Reach $29 Billion by 2032, Driven by Data Growth and Software Solution Demand
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Revenue in the global storage in big data market is forecast to reach USD 29.04 billion in 2032, growing at a CAGR of 16.9% from 2023-2032.
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Key drivers include flexibility and efficiency in data management and increasing data generation from smartphones and other devices.
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The software segment accounted for the largest revenue share in 2022 due to software solutions enabling storage services across multiple platforms.
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North America accounted for the largest revenue share in 2022 due to rapid digitalization and major player presence across industries.
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The market is fragmented with large and medium players like Google, Amazon Web Services, Microsoft, IBM, and Oracle holding majority market share.