Enterprise Storage Market - New Innovations, Application, Recent Technology Updates & Forecast

Enterprise storage system is a centralized depository where business data and information is stored for a period of time depending on the requirements of an organization. The stored information can serve as a backup in case of any disaster or system failure. Besides this, enterprise storage is a highly scalable, fault tolerant, and reliable storage option compared to the traditional storage systems. Therefore, enterprise storage systems are more suitable for enterprises dealing with large amounts of data. Enterprise storage includes hard disk drives (HDD) and solid-state drive (SSD) devices that are commonly used in storage area network (SAN), network attached storage (NAS), and direct attached storage (DAS) environments. An enterprise storage system offers benefits such as data sharing, disaster recovery, and high accessibility, restoration functions, and reliable and efficient backup, as well as remote support and centralized administration.

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At present, growing demand for software defined storage (SDS) is a major trend in the enterprise storage market across the globe. Software defined storage is a data storage software that aids in data protection, data management, input/output (I/O) capabilities, and data placement, independent of the primary storage infrastructure. Apart from this, it also helps in increasing scalability, flexibility, and automation capabilities of an enterprise storage infrastructure. SDS system has the capacity to allocate storage resources efficiently. Therefore, it is largely adopted by end-users in order to reduce the overall storage cost of enterprises. The demand for efficient enterprise storage systems has increased globally, which in turn, has resulted in an increased demand for SDS systems around the globe. Consequently, this is impelling the growth of the enterprise storage market.

The global enterprise storage market is observing growth due to factors such as growing need to store large amounts of data among enterprises and growing advancements in enterprise storage systems and devices. Increase in popularity of camera-equipped devices such as tablets and smartphones has allowed users to generate a huge amount of digital content, leading to growing capacity demands to store that data. Therefore, this is expected to further boost the growth of the enterprise storage market around the globe. Additionally, growing demand for cloud computing is also estimated to fuel the demand for enterprise storage systems in forthcoming years. However, data security is a major factor which is restraining the growth of this market. This is primarily because the data is usually stored in cloud servers which increase its vulnerability.

Evolution of big data analytics is one of the major factors anticipated to create new opportunities for the global enterprise storage market in the coming years.

The global enterprise storage market can be segregated based on storage type, application, and geography. By storage type, the market can be segmented into direct attached storage (DAS), storage area network (SAN), network attached storage (NAS), and mixed/ hybrid storage environment. In terms of application, the market can be segregated into construction, retail, security, banking, financial services and insurance, utilities, automotive and others. Furthermore, based on geography, the global enterprise storage market can be segmented into Europe, Asia Pacific, North America, South America, and Middle East & Africa.

North America is anticipated to dominate the enterprise storage market throughout the forecast period. Large enterprises across the region have already started using storage software for a long time. However, the increasing demand for automation in emerging economies of Asia Pacific is further anticipated to drive the demand for storage systems across the region.

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Major vendors operating in the global enterprise storage market include NetApp, Inc., LSI Corporation, Hitachi Data Systems Corporation, 3PAR, Inc., International Business Machines Corporation, Hewlett Packard Enterprise Development LP, EMC Corporation, Dell, Inc., Oracle Corporation, SGI Corporation, Intel Corporation, Lenovo Group Limited, Western Digital Corporation, Integrated Device Technology Inc., Overland Storage, Inc., NetGear, Inc., and Buffalo Americas, Inc.

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