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Future of Lifesciences Enterprise Storage Market: Size, Share, Trends and Forecast till 2026
Fact.MR
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Increasing difficulties arising in management and loading of clinical data from lifescience enterprises has propelled the need for adopting effective storage solutions. Leading players in the healthcare-IT industry are introducing effective lifesciences enterprise storage solutions to capture these concerns. Moreover, several lifesciences organizations are adopting cloud-based storage models to share data securely and effectively across multiple landscapes in the healthcare industry. However, growing concerns over the safety of these lifesciences enterprise storage solutions is observed as a key deterrent of their adoption.
According to Fact.MR’s recent forecast study, the global lifesciences enterprise storage market will expand at a moderate pace of 4.2% CAGR in terms of value over the forecast period, 2017-2026. It has been estimated that by the end of 2026, the global lifesciences enterprise storage market will be worth over US$ 2.6 Bn.
Pharmaceutical Companies to Represent Key Customer Segment
In 2017, nearly US$ 750 Mn worth of lifesciences enterprise storage solutions were adopted for storing data of pharmaceutical companies. The report observes that growing interconnectedness between lifescience business and pharmaceuticals industry will propel the contribution of pharmaceuticals as key customer segment in the expansion of the global lifesciences enterprise storage market. The report further reveals that biotech companies and governments will also be observed as lucrative customer segments for the global adoption of lifesciences enterprise storage solutions.
Adoption of Storage Attached Networks to Gain Traction
The report estimates that by the end of 2026, more than US$ 1.1 Bn worth of lifesciences enterprise storage solutions adopted across the globe will be developed with storage-attached-network model. The demand for such storages is expected to gain traction owing to the growing integration of large data networks in lifescience entrepreneurial projects. The report further reveals that server attached storages will register fastest revenue growth, reflecting a 5.4% CAGR in terms of value over the forecast period.
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On-Cloud Deployment of Lifesciences Enterprise Storages to witness an Upsurge
Currently, majority of lifesciences enterprise storages are deployed with on-premise model. Complex working of cloud-based lifesciences enterprise storage deployment will continue to factor the high revenue growth of on-premise deployment. By the end of 2026, more than US$ 1.6 Bn worth of lifesciences enterprise storages will deployed with on-premise model across the globe. The report further estimates that on-cloud deployment of lifesciences enterprise storages will register steady revenue growth at more than 5% CAGR in terms of value over the forecast period.
Competition Tracking
Leading players in the global lifesciences enterprise storage market have been profiled in the report. These include, HPE, Dell Inc., NetApp, IBM, Hitachi, and ODM Direct. Majority of these companies are expected to actively instrument the growth of the global lifesciences enterprise storage market through 2026. Several players in the global lifesciences enterprise storage market are also expected to introduce innovative storage solutions designed specifically by considering the nature of data procured during lifescience projects.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized ICT Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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