The global next-generation data storage market size is expected to reach USD 118.22 billion by 2025,
according to a new report by Grand View Research, Inc. The market is projected
to record a CAGR of 12.5% from 2019 to 2025. The market growth is driven
chiefly by the rising consumer need for reliable, secure, and cost-efficient
ways of storing and managing information.
Increase in digitization of information is
also one of the key drivers of the market. Furthermore, IoT and embedded
devices generate information, log files, and metadata. Securely storing
large-scale datasets is the need of the hour and cloud computing is positioned
to cater to this need of the market efficiently. Advancements and the increased
adoption of cloud computing technologies and services such as hybrid cloud,
IoT, BDaaS, and PaaS are also expected to play a crucial role in the growth of
the market in the near future.
The demand for next-generation data storing
platform and technologies is also expected to rise in the face of the emergence
of smart machines such as self-driving cars and robots. Connectivity with the
internet and the presence of a variety of sensors and data storing systems in
these machines make them a good source of an unprecedented volume of digital
information that can be collected and analyzed for a range of purposes. These
software-enabled machines are often controlled and operated from centralized
remote points, necessitating the use of advanced and reliable solutions for
storing information. Thus, the rising adoption of such machines is expected to
drive the market in the near future.
The storing, management, and organization
of data across various industries and sectors are often subject to specific
data requirements of operations and processes specific to the industry or
sector. Moreover, industrial expertise and technological advancements must be
combined to achieve high-speed, large-scale, efficient, and secure data
storage. These complex requirements could hinder the adoption of a variety of
next-generation data storing solutions, especially in small- and medium-sized companies
that lack the required infrastructure. Nevertheless, the emergence of advanced
and economical technologies —backed by an increase in funding for R&D in
emerging and investigational products —indicate a promising future for the
global next-generation data storage market.
The competitive landscape of the market is
highly competitive owing to the presence of a number of well-established
companies. Some of the leading companies in the market are Hewlett Packard
Enterprise Company, Hitachi, Ltd., NetApp, Inc., Dell Inc., IBM Corporation,
Micron Technology, Inc., Netgear Inc., and Inspur.
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Further key findings from the study suggest:
· Penetration of next-generation data storing
devices in developing countries could be challenged by financial constraints
· The Network-Attached Storage (NAS)
technology segment is positioned to witness the fastest growth over the
forecast period
· The growing need to manage large volumes of
structured and unstructured data will promote the growth of the NAS technology
segment
· The Solid State Drive (SDD) technology
offers more secure data encryption and storage using electronic chips, driving
the demand for SSDs across a rising set of applications
· The Asia Pacific regional next-generation
data storage market is likely to witness the fastest growth, driven by a rise
in disposable income and growing consumer awareness regarding the benefits of
next-generation data storing devices
Grand View Research has segmented the
global next-generation data storage market based on technology, technique,
type, end user, and region.
Next-Generation Data Storage Technology
Outlook (Revenue, USD Million, 2014 - 2025)
·
Magnetic Storage
·
SSD
·
Hybrid Flash Array
Next-Generation Data Storage Technique
Outlook (Revenue, USD Million, 2014 - 2025)
·
Direct-Attached Storage
·
Network-Attached Storage
·
Storage Area Network
·
Others
Next-Generation Data Storage Type Outlook
(Revenue, USD Million, 2014 - 2025)
·
Local (on-premise)
·
Remote (cloud)
·
Hybrid
Next-Generation Data Storage End User
Outlook (Revenue, USD Million, 2014 - 2025)
·
Home
·
Business
o
BFSI
o
Retail
o
Healthcare
o
Government Bodies
o
Telecom Companies
o
Cloud Service Providers
o
Others
Next-Generation Data Storage Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
·
Asia Pacific
o
China
o
Japan
o
India
o
Singapore
o
South Korea
·
South America
o
Brazil
·
Middle East & Africa
Access Press Release of Next-Generation Data Storage Market@ https://www.grandviewresearch.com/press-release/global-next-generation-data-storage-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
