Erasure Coding Market Globally Expected to Drive Growth Nearly USD 6.86 Bn By 2033
Page Contents
Market Overview
Published Via 11Press: Erasure coding is a method of data protection designed to maintain data integrity and availability in the event of data loss or corruption. Data fragmentation refers to the practice of breaking up a large piece of information into smaller fragments and then creating additional parity or redundancy fragments that can be used for reconstructing the original data even if some fragments are lost or damaged. Erasure coding Market involves breaking up original data into multiple chunks and encoding each with a certain number of redundant fragments. These fragments are calculated through mathematical algorithms applied to the chunks' original sizes. Typically, this number of redundant pieces is determined by something called an erasure code rate,” which describes the ratio between total fragments (including data and redundancy) compared to their total size.
The Global Erasure Coding Market represented USD 3.36 Bn in 2022 and will anticipate around USD 6.86 Bn by 2033 projected around CAGR of 6.5% amid forecast frame of 2023 to 2033.
When retrieving data, the erasure coding system retrieves as many fragments as necessary to reconstruct the original data. If some of the fragments are missing or corrupted, an erasure coding algorithm can use both existing fragments and redundant ones to reconstruct the missing data. Erasure coding offers a more secure data protection method than traditional methods that rely on creating backups of data. It has become widely used in storage systems, distributed systems, and other applications where data security is essential. One common use case for erasure coding is in RAID (Redundant Array of Independent Disks) systems, where it helps protect data in the event of disk failures. Other applications of erasure coding include cloud storage, object storage and distributed file systems.
Key Takeaways
- Erasure coding is a data security technique that involves shuffling data into smaller chunks and creating additional fragments (known as redundancy or parity) to help reconstruct the original data in case of loss or corruption. The number of redundant fragments created depends on an erasure code rate – that is, the ratio between all fragments (including both data and redundancy) divided by the original data size.
- Erasure coding offers a more reliable data protection scheme than traditional backup methods, enabling data reconstruction even if some fragments are lost or damaged. It has become widely used in storage systems, distributed systems and other applications where data security is critical – such as RAID systems, cloud storage , object storage and distributed file systems. While erasure coding has many benefits when it comes to data safety and availability it also comes with some drawbacks like increased computational overhead or storage requirements. Therefore it's essential that you carefully weigh the advantages and drawbacks before using it for each specific use case.
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Regional Snapshot
Erasure coding is a data security technique widely used around the world in various applications. However, there are some regional differences when it comes to its adoption and specific use cases. Here is an overview of erasure coding adoption and use by region:
- North America: Erasure coding is widely employed in storage systems and cloud computing in North America, often to protect against disk failures. It also plays a significant role in cloud storage and object storage systems to guarantee data availability.
- Europe: Erasure coding is becoming increasingly commonplace in Europe, particularly within cloud computing, big data analytics and distributed file systems. This technology is often employed to protect against data loss when working with large-scale distributed systems.
- Asia Pacific: Erasure coding is becoming increasingly popular in Asia Pacific, particularly for cloud storage and data protection applications. It can also be found in distributed file systems and other big data applications.
- Latin America: Erasure coding adoption in Latin America has been slower than other regions, but the technology is gradually gaining traction. It is being employed in some cloud storage and distributed file system applications.
Drivers
Erasure coding has many drivers behind it, including:
- Data Growth: As digital data continues to explode, organizations are confronted with increasingly stringent storage requirements. Erasure coding helps make better use of storage resources by eliminating redundant information that must be stored.
- Data Security: Data loss or corruption can have catastrophic results for businesses, resulting in financial losses and reputational harm. Erasure coding offers a more resilient data protection strategy than traditional backup methods, ensuring that data can be reconstructed even if some fragments are lost or corrupted.
- Distributed Systems: As more organizations transition to distributed computing architectures, erasure coding is becoming an increasingly essential requirement. Distributed systems are more vulnerable to data loss or corruption, so erasure coding helps guarantee data availability and integrity.
- Cloud Computing: Cloud computing has revolutionized how organizations store and process data, making erasure coding an essential technology for guaranteeing data availability in cloud environments.
- Cost Savings: Erasure coding can reduce storage expenses by making efficient use of storage resources. This is especially advantageous for organizations with large-scale storage needs.
Restraints
- Erasure coding necessitates extra computation to encode and decode data, potentially impacting system performance. This can be especially challenging in large-scale distributed systems with limited processing resources. Erasure coding also creates redundant information which increases storage needs – an issue when space is scarce or expensive. Furthermore, sending extra data across networks causes increased network traffic and latency – something to consider if bandwidth is limited or latency-sensitive applications are used.
- Erasure coding is an intricate technology requiring specialized knowledge and expertise to implement and sustain. Organizations without sufficient resources or staff may face difficulties when trying to use it effectively in certain environments or need additional development work in order to integrate it into existing systems. Erasure coding may not be compatible with all storage systems or applications, limiting its application in certain environments or necessitating additional development work in order to integrate it into current ones.
Opportunities
- Erasure coding offers a more secure data protection approach than traditional backup methods, ensuring that data can be recovered even if some fragments are lost or damaged. This makes erasure coding an attractive data security solution. Erasure coding helps organizations avoid the potentially catastrophic outcomes of data loss or corruption. It also reduces storage costs by enabling more efficient use of storage resources.
- Organizations with large-scale storage needs will find this to be especially advantageous, as it significantly reduces the costs associated with storing and managing data. Erasure coding can improve data availability in distributed systems and cloud environments, where managing data loss or corruption may be particularly challenging. This improves the dependability and uptime of critical applications and services.
- Erasure coding can improve system performance by minimizing the amount of data that needs to be transferred over networks and stored on disk. This is especially advantageous in latency-sensitive applications or large-scale distributed systems where processing resources are scarce. By implementing erasure coding, organizations gain a competitive edge by improving their data protection and storage capabilities; helping them better serve customers, reduce costs, and boost operational efficiency.
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Challenges
- Erasure coding is a complex technology that requires specialized knowledge and expertise to implement and maintain. This can be a challenge for organizations that lack the necessary resources or expertise. Erasure coding may not be compatible with all storage systems and applications, which can limit its use in certain environments or require additional development work to integrate it into existing systems. Erasure coding involves additional computation, storage, and network overhead, which can impact system performance and increase costs. Organizations need to carefully evaluate the trade-offs between improved data protection and increased overhead before implementing erasure coding.
- Erasure coding involves several parameters that need to be tuned for optimal performance, including block size, number of data and parity fragments, and coding algorithms. Tuning these parameters can be time-consuming and requires specialized knowledge and expertise. While erasure coding provides a more resilient data protection scheme than traditional backup methods, it is not foolproof. Erasure coding relies on the assumption that data fragments will fail independently, which may not always be the case in practice. Organizations need to carefully evaluate the durability of their erasure coding schemes to ensure that they provide sufficient protection against data loss or corruption.
Market Segmentation
Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
End User
- BFSI
- Retail
- Government
- Healthcare
- IT & Telecom
- Media & Entertainment
- Manufacturing
- Energy & Utility
- Others Education
- Hospitality
Key Players
- Hewlett Packard Enterprise Company
- Teradata Corporation
- Dell EMC (Dell Technologies Inc.)
- Pure Storage, Inc.
- Cisco Systems, Inc
- Pivot3
- Oracle Corporation
- IBM Corporation
- Nutanix, Inc.
- NetApp, Inc
- Nephos Technologies
- Lenovo
- Huawei Technologies Co.ltd.
- Hitachi Ltd.
- Fujitsu Limited,?
- Alphabet Inc.
Report Scope
| Report Attribute | Details |
| Market size value in 2022 | USD 3.36 Bn |
| Revenue forecast by 2033 | USD 6.86 Bn |
| Growth Rate | CAGR Of 6.5% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2033 |
Growing Demand => Request for Customization
Recent Developments
Erasure coding is rapidly becoming a staple technology, and recent advancements have significantly enhanced its efficiency and dependability. Here are some key highlights from the world of erasure coding:
- Advanced Coding Algorithms: Recent advances in erasure coding have enabled the creation of more sophisticated algorithms that can enhance efficiency and reliability when performing this type of erasure coding. For instance, Fountain codes and Turbo codes have been created to offer better performance for specific use cases.
- Cloud-native Erasure Coding: Cloud-native erasure coding solutions have been designed specifically for cloud environments to improve performance and efficiency in distributed systems and cloud settings.
- Hardware Acceleration: Hardware acceleration technologies such as Field Programmable Gate Arrays (FPGAs) have been created to enhance the performance and efficiency of erasure coding. FPGAs can accelerate both encoding and decoding operations, cutting down on computational overhead while improving system responsiveness.
- Hybrid Erasure Coding Solutions: Hybrid erasure coding solutions have been designed that combine erasure coding with other data protection technologies like replication or snapshots. These hybrid approaches offer improved data protection and availability in complex environments.
- Erasure Coding Standards: Erasure coding standards have been created to create a common framework for the implementation and evaluation of erasure coding schemes. Standards such as the Reed-Solomon Erasure Coding algorithm have become widely adopted, creating interoperability between different systems and vendors.
Key Questions
Here are some commonly asked questions and answers regarding erasure coding:
What is Erasure Coding?
Erasure coding is a data protection and storage technique that fragments data into small fragments, adds redundancy to those fragments, then distributes them across multiple storage devices or systems. This ensures data can be reconstructed even if some fragments are lost or damaged.
How does erasure coding differ from traditional backup methods?
Traditional backup techniques involve creating copies of data and storing it somewhere separate. Erasure coding, on the other hand, adds redundancy to data fragments by distributing them across multiple storage devices or systems – making it a more efficient and resilient data protection technique than its traditional counterpart.
What are the Advantages of Erasure Coding?
Erasure coding offers several advantages for data security and storage, such as improved data accessibility, more efficient use of storage resources, faster performance, and increased protection against data loss or corruption.
What are the challenges associated with erasure coding?
Erasure coding can be complex to set up and maintain, may not be compatible with all storage systems and applications, and adds extra overhead which could adversely impact system performance and raise costs. Furthermore, optimizing erasure coding parameters for optimal performance requires time-consuming effort as well as specialized knowledge and skill.
What recent improvements have enhanced erasure coding?
Recent advances in erasure coding include advanced algorithms, cloud-native solutions, hardware acceleration technologies, hybrid solutions and standards. These advancements have significantly enhanced its efficiency , reliability and performance. It increasingly attractive for organizations looking to bolster their data protection and storage capacities.
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