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External Enterprise Storage Market Organization Size (Large Enterprises and Small-& Medium-sized Enterprises (SMEs)), Trending Technologies, Development Plans and Future Growth Global Opportunity Analysis and Industry Forecast, 2021 – 2027
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Growth of the external enterprise storage market is driven by various factors such as increasing adoption of digital transformation (AI &ML) projects across organizations, change in the adoption of cloud based storage, hybrid storage & all flash arrays, increased government spending in advanced storage technologies and growing volumes of data due to increasing workloads across verticals. In addition, there is a growing number of entrepreneurs looking for external enterprise storage solutions from storage vendors to make the business perform better with competitive prices, which drives market growth. However, advanced technologies such as software-defined storage and hyper-converged infrastructure are expected to restrain traditional external enterprise storage market. Contrarily, enterprises are allocating significant share of their budgets for external storage solutions and investment in the storage market are expected to surge the demand for external enterprise storage market in the forecasted years.
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Artificial intelligence and machine learning have changed many different aspects of IT management, including storage. Machine learning algorithms are starting to be used for predictive storage analytics and storage management. It enables storage management processes to learn, alter settings and operations to optimize workloads, broker storage infrastructure, manage large-scale data sets, and root out the causes of problems and abnormalities and fix them. The adoption of AI and ML in the enterprises is expected to drive external enterprise storage market.
Adoption of cloud storage in organizations
Enterprise cloud storage includes storage capacity purchased from a public cloud service provider.
Enterprises often turn to cloud storage to reduce or minimize the cost of maximum premises, reduce the complexity of managing storage, and improve the infrastructure of the data center. For instance Amazon Web Services (AWS), Google Cloud and Microsoft Azure are using cloud storage to streamline business process. With the increasing adoption in cloud storage the organizations are expected to increase the demand for external enterprise storage market.
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