Global Next-Generation Data Storage Market Report Description:
Global next-generation data storage market report provide a comprehensive outlook on next-generation data storage worldwide with specific focus on key region such as North America, Europe, Asia Pacific, Latin America and MEA. The report on global next-generation data storage market gives historical, current and future market size (US$ Mn) on the basis of storage architecture, storage medium, storage system, end user, and geography. This study analyses the global next-generation data storage market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs.
Global Next-Generation Data Storage Market:
It is projected that the next-generation data storage market will rise from US$ 57.6 billion by 2019 to US$ 86.6 billion by 2026 at a CAGR of 8.5%. The rapidly increasing amount of digital data as a rising number of users of Smartphone, laptops and tablets and the increasing preference of organizations for cloud computing services are major factors that are expected to drive global market growth over the forecast period. Furthermore, growing demand for time-saving technology and services, automated systems, IoT devices and online shopping activities are some of the other factors that are expected to further fuel the target market’s growth over the forecast period. Increasing investment by target market players in R&D activities to build cost-effective solutions for different industries, and increasing strategic mergers and acquisitions to expand their offerings and global footprint. For example, EMC acquired Virtustream to broaden its cloud services. However, a lack of protection in cloud and server-based services is a key factor expected over the forecast period to limit global market growth.
The next-generation data storage market is powered by a growing number of cloud-based solutions:
The growing number of cloud-based solutions globally is driving the growth of the next-generation data storage market to a great extent. Cloud-based network-attached storage systems are thriving worldwide, as they can be accessed conveniently, regardless of time and place. Without any need to be physically mounted on the framework of an organization, cloud-based technology may be used. The need for storing vast quantities of backup data is also growing with an increase in the number of cloud-based solutions.
North America to account for largest market size during forecast period:
In the next-generation data storage industry, North America is the main revenue generating area. The rising amount of unstructured data across different industries and rapid technological developments has resulted in increased demand for North America’s stable, reliable, and cost-effective storage infrastructure. The largest market share is gained by North America, as the early adopter of innovative data storage technologies.
Key players profile in next-generation data storage market include-
- Enterprise Company
- Dell Inc.
- NetApp Inc.
- Hitachi Ltd.
- International Business Machines Corporation
- Toshiba Corporation
- Pure Storage Inc.
- Nutanix Inc.
- Micron Technology Inc.
- Tintri Inc.
- In April 2019, Dell Technologies announces new and enhanced storage, data management and data protection solutions that directly affect an organization’s data capital.
- In February 2020, Pure Storage Pure Storage partnered with Google Cloud’s Anthos Ready Storage Initiative for data storage solutions.
- In June 2020, Dell Technologies announces Dell EMC PowerScale, a new family of storage systems engineered with industry-leading storage software and server hardware to set a new industry standard for how organizations capture and capitalize on unstructured data, such as documents, images, videos and social media content.
Key findings of report:
- Global next-generation data storage market expanding at significant CAGR over 2019 to 2026 owing rapidly increasing amount of digital data as a rising number of users of Smartphone, laptops and tablets and the increasing preference of organizations for cloud computing services.
- North America accounted for larger share of market revenue based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- File and Object-based Storage (FOBS)
- Block Storage
- Direct Attached Storage (DAS)
- Network Attached Storage (NAS)
- Storage Area Network (SAN)
- Cloud Service Providers
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of Latin America
- GCC Countries
- South Africa
- Rest of MEA