Global Data Compression Software Market Research Report- Forecast 2032

Global Data Compression Software Market Research Report Information By Type (Lossless Compression, Lossy Compression), By Deployment (Cloud, On-Premise), By Vertical (BFSI, Retail, Healthcare, IT And Telecommunication, Government, Travel And Hospitality, Transportation, Media And Entertainment, Manufacturing, And Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

ID: MRFR/ICT/2833-HCR | 100 Pages | Author: Shubham Munde | March 2024         

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Data Compression Software Market Overview


Global Data Compression Software Market Size was valued at USD 1.1 Billion in 2022. The Data Compression Software market industry is projected to grow from USD 1.18 Billion in 2023 to USD 2.14 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.70% during the forecast period (2023 - 2032). The necessity for efficient data storage and transfer, as well as an increase in public demand for data security and optimization, are the key market drivers enhancing the market growth.


Data Compression Software Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Data Compression Software Market Trends


Increasing Volume of Data Generation is driving the market growth


The requirement for effective storage and transmission of the expanding amount of data generated is driving the market for data compression software worldwide. In order to handle, store, and transmit data files across networks more easily, data compression software is essential. A number of factors, such as the growing demand for data storage optimisation, the spread of digital content, the development of cloud computing, and the requirement for higher data transfer speeds, are driving the market.


The demand for data compression software is also being fueled by the expanding use of big data analytics, Internet of Things (IoT) gadgets, and mobile applications. To meet the needs of many business verticals, including IT and telecoms, healthcare, e-commerce, finance, and media and entertainment, companies in the market provide a wide range of solutions, including lossless and lossy compression techniques. The market is fiercely competitive, and major manufacturers are continually developing new technologies to strengthen compression algorithms and boost software efficiency. Furthermore, it is anticipated that the introduction of cutting-edge technologies like machine learning and artificial intelligence will spur additional developments in data compression methods, resulting in significant market growth and potential in the years to come. Thus, driving the Data Compression Software market revenue.


Data Compression Software Market Segment Insights


Data Compression Software Type Insights


The global Data Compression Software market segmentation, based on type includes Lossless Compression and Lossy Compression. The lossless compression category led the market. The benefits of lossless compression are numerous, including the fact that no data is lost and that lost data can be recovered. A file's original state can be recovered. The quality of the data is unaffected. Data is lost during lossy compression, and even after decompression, the data cannot be recovered in its original form.


Data Compression Software Deployment Insights


The global Data Compression Software market segmentation, based on deployment includes cloud and on premise. Because cloud solutions are becoming more popular across all industries and because they offer data security and storage, could solutions holds the largest market share.


Figure 1: Global Data Compression Software Market, by Deployment, 2022 & 2032 (USD Billion)


Global Data Compression Software Market, by Deployment, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Data Compression Software Vertical Insights


The global Data Compression Software market segmentation, based on Vertical includes BFSI, retail, healthcare, IT and telecommunication, government, travel and hospitality, transportation, media and entertainment, manufacturing, and others. The BFSI industry is anticipated to hold the largest market share in the market for data compression software due to its increased benefits like efficient data storage and transfer.


Data Compression Software Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Data Compression Software Market dominated this market in 2022 (45.80%). The data compression software market is expanding in this region as a result of the developed infrastructure, digitization, increased deployment, and technology. Due to its growing population and loT device use, Asia Pacific is growing at a quicker CAGR rate. Further, the U.S. Data Compression Software Market held the largest market share, and the Canada Data Compression Software Market was the fastest growing market in the North America region.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: GLOBAL DATA COMPRESSION SOFTWARE MARKET SHARE BY REGION 2022 (USD Billion)


GLOBAL DATA COMPRESSION SOFTWARE MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Data Compression Software market accounts for the second-largest market share. The region places a high priority on data privacy and security legislation, which has resulted in an increase in demand for effective data storage and transfer. The existence of numerous well-established businesses in sectors including manufacturing, healthcare, and finance further increases demand for data compression software. Furthermore, to optimise storage and boost network efficiency, Europe's growing usage of cloud computing and the Internet of Things (IoT) boosts the demand for efficient data compression solutions. Further, the German Data Compression Software Market held the largest market share, and the UK Data Compression Software Market was the fastest growing market in the European region


The Asia-Pacific Data Compression Software Market is expected to grow at the fastest CAGR from 2023 to 2032. The main drivers of the data compression software industry include burgeoning e-commerce, rapid industrialization, and digital transformation. Effective data compression techniques are required due to the significant growth in data output and consumption in nations like China, India, Japan, and South Korea. Additionally, the region's increased internet connectivity and smartphone adoption are boosting demand for data compression software, which will improve mobile app performance and lower data transmission costs. Moreover, China’s Data Compression Software Market held the largest market share, and the Indian Data Compression Software Market was the fastest growing market in the Asia-Pacific region.


Data Compression Software Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Data Compression Software market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Data Compression Software industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Data Compression Software industry to benefit clients and increase the market sector. In recent years, the Data Compression Software industry has offered some of the most significant advantages to medicine. Major players in the Data Compression Software market, including Osisof LLC, Exasol Corporation, Panoratio Database Images Gmbh, Tegile Systems, Wandera, Quortus Telecommunications, Facebook, Google Corporation, Otello Corp ASA, and Exalinks Software, are attempting to increase market demand by investing in research and development operations.


A subsidiary of Alphabet Inc., Google LLC (Google) offers internet search and advertising services. The corporation works on a number of industries, including enterprise and hardware products, advertising, search, platforms and operating systems, and. Google Search, Google Photos, Google Chrome, Google Docs, Google Calendar, Google Meet, Google Drive, Google Play Books, Google Finance, Google Earth, Google Ad Manager, Google Play, Google News, AdMob, Google Maps, AdSense, Gmail, Google Groups, and YouTube are just a few of the items in its portfolio of goods and services. The company has operations throughout the Middle East, Africa, the Americas, Europe, and Asia-Pacific. Mountain View, California, in the US, is home to Google's headquarters.


Software and related services are developed and marketed by Otello Corp ASA (Otello). It creates server solutions, widgets, and web browsers for the desktop, mobile, and device sectors. For a variety of platforms, operating systems, and embedded Internet products, including Mac, PC, and Linux computers, mobile phones, PDAs, gaming consoles, and other gadgets including the Nintendo Wii, DS, and Sony Mylo, the firm offers web browsers. Otello has particular expertise in the creation and distribution of compression and data-saving solutions to operators and users globally. Under the brands Opera, Skyfire, and Otello, it sells goods. The corporation operates in both the US and Europe. The headquarters of Otello are in Oslo, Norway.


Key Companies in the Data Compression Software market include




  • Osisof LLC




  • Exasol Corporation




  • Panoratio Database Images Gmbh




  • Tegile Systems




  • Wandera




  • Quortus Telecommunications




  • Facebook




  • Google Corporation




  • Otello Corp ASA




  • Exalinks Software




Data Compression Software Industry Developments


In 2021: Corel Corporation has acquired WinZip Computing LLC, a well-known supplier of file compression and encryption software. The goal of the acquisition was to expand Corel's product line and increase its position in the market for data compression software.


In 2021: In order to integrate Cloudian's HyperStore technology with IBM Spectrum Scale, the provider of object storage solutions Cloudian worked with IBM. With the help of IBM's scalable file and object storage solutions, this collaboration sought to provide enterprise customers with improved data compression and storage efficiency.


In 2021: ExaGrid, a provider of disk-based backup storage, and Veeam Software, a pioneer in data backup and recovery solutions, have announced their partnership. This partnership sought to develop integrated solutions that give clients improved data safety and storage efficiency by fusing Veeam's data compression and deduplication capabilities with ExaGrid's scalable storage equipment.


In 2020: Dataguise, a pioneer in the discovery and protection of personal data, and PKWARE, a provider of data security and compression solutions, have merged. With the combination of Dataguise's data security capabilities and PKWARE's data compression know-how, customers can now take advantage of comprehensive data protection solutions.


Data Compression Software Market Segmentation


Data Compression Software Type Outlook




  • Lossless compression




  • Lossy compression




Data Compression Software Deployment Channel Outlook




  • Cloud




  • On premise




Data Compression Software Vertical Channel Outlook




  • BFSI




  • Retail




  • Healthcare




  • IT and Telecommunication




  • Government




  • Travel and Hospitality




  • Transportation




  • Media and Entertainment




  • Manufacturing




  • Others




Data Compression Software Regional Outlook




  • North America






  • U.S.




  • Canada






  • Europe






  • Germany




  • France




  • UK




  • Italy




  • Spain




  • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 1.1 Billion
Market Size 2023 USD 1.18 Billion
Market Size 2032 USD 2.14 Billion
Compound Annual Growth Rate (CAGR) 7.70% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, deployment, verticals and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Osisof LLC, Exasol Corporation, Panoratio Database Images Gmbh, Tegile Systems, Wandera, Quortus Telecommunications, Facebook, Google Corporation, Opera Software ASA, and Exalinks Software
Key Market Opportunities The growing data storage across storage devices leads to data traffic
Key Market Dynamics The use of smartphones has increased a lot in the last few years, and it is used as a source of communication in the workspace or in personal use




Frequently Asked Questions (FAQ) :

The global Data Compression Software market size was valued at USD 1.1 Billion in 2022.

The global market is projected to grow at a CAGR of 7.70% during the forecast period, 2023-2032.

North America had the largest share in the global market

The key players in the market are Osisof LLC, Exasol Corporation, Panoratio Database Images Gmbh, Tegile Systems, Wandera, Quortus Telecommunications, Facebook, Google Corporation, Opera Software ASA, and Exalinks Software.

The cloud category dominated the market in 2022.

The lossless compression had the largest share in the global market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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