Enterprise Data Storage Market Future Scenario and Research Details Developments by 2024

The global enterprise data storage market is growing at a rapid pace, as more data is being digitized and deposited on storage disks of different size capacities. The increased demand for cloud computing services is a major growth driver, which is fuelling the growth of the global enterprise data storage market. Enterprises throughout the world have started to shift towards cloud-based solutions to reduce costs and improve their overall business efficiency. Approximately 65% enterprises worldwide are already using cloud based services for efficient data storage. As compared to the conventional storage system, enterprise storage is fault-tolerant, highly reliable, and has accessible storage option, which is mostly appropriate for the organizations handling large amount of data.

Enterprise Data Storage is the centralized source for storage of business information, which provides data protection and management. Enterprise data storage provides data sharing functions, through connections to various computer systems. It is developed as a resolution for the enterprises, which deal with heavy loads of critical business information. The unconstrained connectivity and support for numerous platforms in operation are some of the key features of enterprise data storage, which is again propelling the growth of the global enterprise data storage market.

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Based on storage systems, the global enterprise data storage market can be segmented into storage area network (SAN), network attached storage (NAS), direct attached storage (DAS), and others.As organizations are turning into big enterprises, the need for enterprise data storage is also increasing. Data storage systems need to be durable, scalable, low in cost, agile, and should be able capable to handle huge loads of data and sustain the huge data growth. The development of big data analytics is a major trend witnessed in the global enterprise data storage market. The management of large, unstructured, complex data is not possible through conventional data processing techniques. Big data analytics has been introduced to solve the challenge, over unstructured information or data.

However, data security is a major challenge for the global enterprise data storage market. Enterprises need effective storage mechanisms to process and store the growing data volumes. The security of data has become a difficult task for vendors, though innovations in the data security sector are being introduced by software manufacturers to improve data security for enterprises.

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The global enterprise data storage market is dominated by major players, which include EMC Corporation, Dell, Hewlett-Packard Development Company L.P., International Business Machines S.A. (IBM), and NetApp, These players account for a double digit market share in the global enterprise data storage market. The other competitors in the global enterprise data storage market include Western Digital Technologies Inc., FUJITSU, Seagate Technology LLC, Xiotech Corporation, Pure Storage Inc., Oracle Corp.

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