Next-generation data storage market Global Industry Outlook, Analysis, Size, Share, Growth, Trends and Forecast

Next-generation data storage market Next-generation section under end user segments are expected to capture the largest share of market by 2029. Many devices such as smartphones and tablets generate data in the form of pictures and videos. In addition, embedded devices, cross-machine communication and IoT create images and videos from functional applications such as advertising and security. Data such as files on PCs and servers; Log files; and a huge amount of metadata. Increasing data generation is driving demand for next generation storage devices.

Key Market Competitors: Few of the major competitors currently working in next-generation data storage market are Dell, Hewlett Packard Enterprise Development LP, IBM, NetApp, Hitachi, Ltd, TOSHIBA CORPORATION, Pure Storage, Inc, Nutanix, Scality, Micron Technology, Inc, Tintri by DDN, Cloudian, Drobo, Inc., Western Digital Corporation, SAMSUNG, FUJITSU, VMware, Inc, Nexenta by DDN, Inc, NETGEAR, Inspur, Kingston Technology Europe Co LLP, Broadcom and many others.

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Strong data growth has cast doubt on the storage capacity of some players in the industry. In addition, data storage costs are directly proportional to their needs. Financially, a company cannot increase its storage costs with storage growth. Therefore, new modern technologies have been developed to enable effective control of both storage and cost growth. At the same time, the emergence of solid state technology in devices for integrated and storage ICs is the most popular technology due to its lower price, high functionality and longer service life. This will take into account the growth during the forecast period of the next generation data storage market.

Next-generation data storage market is expected to rise by registering a steady CAGR of 12.76% from USD 56.80 billion in 2019 to USD 188.76 billion in 2029 within the forecast period of 2020-2029. The major driver leading this market includes the growing massive growth in digital data volume followed with growing use of laptops, smartphones and tablets along with the growth of IoT market.

Market Definition:

Next generation data storage refers to recent trends and innovation in setting up or storing data through advance mode, form or digitally. It encompasses on new advanced architecture or medium for retrieving the data.

Next-Generation Data Storage Market Scope and Market Size

Next-Generation Data Storage Market has been segmented on the basis of storage system, technology, storage architecture, storage medium and end user.

On the basis of storage system, the next-generation data storage market is segmented into direct-attached storage, network-attached storage and storage area network.

The network-attached storage is expected to dominate in the forecasting period which is due to rising demand for accessing information from a single connected device for multiple users via an authenticated network.

On the basis of technology, the next-generation data storage market is segmented into All-flash storage arrays, hybrid arrays, holographic data storage, cloud-based disaster recovery and heat assisted magnetic recording.

Based on storage architecture, the next-generation data storage market is segmented into file/object-based storage and block storage.

The next-generation data storage market is also segmented on the basis of storage medium into hard disk drive, solid state drive and tape. The solid state drive segment is expected to be the fastest growing next generation data storage technology which provides safe data encryption along with storage using magnetic chips.

The end user segment in the next-generation data storage market is segmented into 4 notable segments: enterprises, government bodies, telecom companies and cloud service providers. The enterprise segment is further classified into BFSI, consumer goods, retail, healthcare, media and entertainment, manufacturing and others.

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Country Level Analysis of Next-Generation Data Storage Market

On the basis of region, the next-generation data storage market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.

Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.

North America dominates the market acquiring large market share of U.S. in the next-generation data storage market in the forecast period 2020 to 2029 because of the largest share and early adopter of advanced data storage technologies.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.

Next-Generation Data Storage Market Drivers:

Thriven use of smartphones, laptops and tablets will boost this market.
The growing scenario of IoT market is also expected to act as a driver of this market.

The massive growth in digital data volumes will also help in driving this market.
With increase in penetration of high end cloud computing will also drive the market.

Market Restraints:

Less structured data is the factor hampering the growth of the market.
Breaches in data security with cloud and server based services will also hamper the growth.

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Key Developments in the Next-Generation Data Storage Market :

In December 2019, Google cloud developed new storage services for online data transfer which includes complexity out of data transfers and move data faster, secure as well as safe. This new transfer will comprise of advanced self-features like GUI.

In December 2019, Huwaei launched intelligent, new generation, all flash storage project, the OceanStor Dorado. The OceanStor Dorado comprises of advanced innovative features such as flash link, architecture and algorithm plus hardware.
Competitive Analysis and Next-Generation Data Storage Market Share Analysis:

Next-generation data storage market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Next-Generation Data Storage Market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Next-generation data storage market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Next-Generation Data Storage Market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.

Key Insights in th eNext-Generation Data Storage Market report:

Complete and distinct analysis of the market drivers and restraints
Key market players involved in this industry
Detailed analysis of the market segmentation
Competitive analysis of the key players involved

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Mr. A Naidu

Research for Markets

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Email: alan.naidu@researchformarkets.com

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This release was published on openPR.