Object storage is a latest storage technology concept. It is also known as cloud object storage. It describes how to extend the local infrastructure with cloud storage capabilities and meet the needs of hyper growth management to unlock the value of data based on demand elasticity, pricing as a service, unlimited scaling and global reach. Object storage generally adds the metadata to a document and deletes the hierarchical file structure used in file storage as well as places everything in a flat address space known as a storage pool. This kind of metadata is a key to the success of object-storage and provides a detailed overview of data usage and roles in the storage group.
Some of the key benefits of object storage include infinite
scalability, greater data analytics, and reduction in cost, faster data
retrieval and optimization of resources. Besides, key characteristics of object
storage include durability, strong consistency, custom metadata and encryption
etc.
As per analysis, “Global
Object Storage Market Status (2015-2019) and Forecast (2020-2024) by Region,
Product Type & End-Use” the key companies operating in the
global object storage market include Swift Stack, Hyve, Basho, Nexenta, Seagate,
Supermicro, ETegro, Newisys, Cloud Founders and among others. Some well-known
companies focus on numerous organic growth strategies including product
launches, product approvals, and others like patents and events. Apart from
this, few of the inorganic growth-strategies activities witnessed in the market
include mergers & acquisitions (M&A), and partnership &
collaborations. These activities have paved the way for growing the business
and customer base of market participants. With the increasing demand for cloud
object storage on the world market, players in the cloud object storage market
expect lucrative growth opportunities in the future.
Based on type, object storage market can be segregated as metadata
server, object-based storage device and others. In addition, based on
application, market can be segregated as memory, graphics files, using network
to work, mobile apps, manipulate data, sensor data and others.
Based on geography, the North-America is a leading region in global object storage market owing to
growth in internet traffic and user-generated data across the region. The
Europe and Asia-Pacific regions are anticipated to witness higher growth rate
due to presence of key companies coupled with high technological advancement
over the forecast period. It is projected that future of the global object
storage market will be bright on account of growth in technological
advancements such as multi-cloud data management and introduction of
machine-learning in the storage analytics during the forecast period.
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