Data Analysis, Storage & Management Market Growing at 17.1% CAGR to 2024 Driven by Enterprise Mobility, Cloud Computing Solutions and Data Management

Data Analysis, Storage & Management Market Growing at 17.1% CAGR to 2024 Driven by Enterprise Mobility, Cloud Computing Solutions and Data Management

Growth of HPC, Data Analysis, Storage & Management Market Report analyses industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025. Majorly driven by growing demand for data storage and management solutions due to extensive amount of data generated through large number of research activities.

The data analysis, storage & management market in life sciences is projected to reach USD 41.1 billion by 2024 from USD 18.7 billion in 2019, at a CAGR of 17.1%. However, the high cost of implementation and regulatory hurdles are major factors restraining the growth of this market. This growth can be attributed to the requirement of high focus on analysis in the extensive amount of ongoing research in life sciences industry.

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The data analysis, storage & management market in life sciences is segmented into data analysis software and workbenches, data analysis services, and storage, management, and cloud computing solutions. Over the forecast period, the storage, management, and cloud computing segment accounted for the highest CAGR. The increasing pool of data being generated in life sciences industry is fueling the demand for storage and computing solutions.

“Storage, Management, and Cloud Computing Solutions are expected to fuel the growth of data analysis, storage and management market in life sciences.”

The HPC and data analysis, storage and management markets in life scinces are  geographically segmented into US, Germany, France, and UK. With the presnce of large number of pharmaceutical and biotechnology companies focusing on drug development and generating huge amount of data, the US dominated the HPC and data analysis, storage and management markets in 2018. Increasing adoption of cloud based solutions will be fueling the growth of the market across the geograhpies.

The data analysis, storage & management market is segmented into next generation sequencing, microscopy, chromatography, flow cytometry, spectroscopy, and other applications such as PCR among others. In 2018, next generation sequencing -NGS segment accounted for the largest share of the data analysis, storage & management market.

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The large share of this segment can be attributed to the huge amount of data generated through enormous number of ongoing activities. HPC applications market is also dominated by next generation sequencing segment in 2018. US accounted for the largest share of the data analysis, storage & management market in life sciences. The large share of the US in this market can be attributed to the increasing R&D activities by biopharma companies and increasing presence of these companies in the US.

Recent Developments:

  • In 2018, AMD launched AMD Radeon Instinct MI60 and MI50 accelerators, the world’s first 7nm datacentre GPUs for next-generation deep learning, HPC, cloud computing and rendering applications to enhance computing performance. This would help researchers, scientists to process HPC applications efficiently across various industries like life sciences, academics etc.
  • In 2017, Advanced Micro Devices, Inc. (AMD) collaborated with Microsoft (U.S.) for incorporating cloud features of AMD’s next-generation ‘Naples’ processor with Microsoft’s Project Olympus (Microsoft’s next-generation hyper scale cloud hardware design). With this collaboration, the new solution will offer enhanced scalability, performance, efficiency, increased memory and high speed input/output channels on a single chip.
  • In 2017, Cisco Systems,Inc. announced the acquisition of Viptela, a U.S. based company that delivers cloud,softwarte and networking solutions. Cisco Systems will combine technologies offered by Viptela such as cloud network management, routing platforms and solutions to provide secure and intelligent platforms for digital transformation.

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Research Coverage

This report studies the HPC, Data Analysis, Storage and Management market in life sciences segment based on products and services, applications, end users, and regions. The report also analyzes factors -such as drivers and restraints affecting market growth. It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.

Reasons to Buy the Report:

Report analyzes HPC, data analysis, storage and management market in life sciences by product & services, end user, application, & geography. In-depth assessment of market strategies of leading players in HPC, data analysis, storage & management market in life sciences. Comprehensive information about lucrative emerging markets. Report analyzes HPC in life sciences market for various across key applications & end users.

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