Next Generation Storage Devices Market 2021 Growth Statistics, Industry Share, Latest Trends, Overview, Business Plans, Cost Analysis, Revenue, Growth Drivers, Size and Forecast till 2027

Next generation storage technology is an advanced technology that provides improved data storage and management across various industry. With increase in Internet usage, smartphone adoption, and other means of communication such as social media, large amount of unstructured data is getting cumulated without efficient data handling and storage.

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Next generation storage devices are upgraded versions of the conventional data storage devices that allow data storage with high capacity, flexibility, adaptability, reliability, and at lower costs. The ever-growing need of storing, managing, and analyzing the massive amount of data created drives the market growth.

The global next generation storage devices industry is driven by technological advancements, increased smartphone penetration, rise in online transactions, lower costs of cloud computing platforms, and high Internet penetration worldwide. Cloud storage deployment is easily available in the market, and it offers complete ownership of the storage space at lower costs.

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In addition, solid-state storage is an emerging technology, which uses integrated circuits (ICs) to store digital data that eliminates the disadvantages of conventional data storage, such as high turnaround time, overheated production, high battery consumption, and shorter lifespans. Cloud-based storage and solid-state storage are expected to witness significant adoption during the forecast period. However, lack of security provisions in server-based and cloud storage, high costs of solid-state drives, and high initial investment for technological development hinder the market growth.

The global next generation storage devices market is segmented on the basis of storage technology, storage system, industry vertical, and geography. The storage technology segment consists of magnetic storage, solid-state storage, cloud storage, and hybrid array. Storage systems analyzed in this report are network-attached storage, direct-attached storage, cloud storage, unified storage, storage area network, and software-defined network. Further, based on industry, the global next generation storage devices market is divided into banking, financial services, and insurance (BFSI); retail; IT & telecommunication; healthcare; government; education; media & entertainment; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY BENEFITS

In-depth analysis of the global next generation storage devices market and dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2014 to 2022 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the next generation storage devices market, and provides a clear understanding of the factors that influence market entry and expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analyses of the trends, subsegments, and key revenue pockets are provided.
Detailed analyses of the key players operating in the next generation storage devices industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

KEY MARKET PLAYERS

Dell, Inc.
HPE Company
Hitachi Ltd.
IBM Corporation
NetApp, Inc.
Nutanix, Inc.
Oracle StorageTek
Pure Storage, Inc.
Tintri, Inc.
Toshiba Corp.

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Other key players operating in the market include Carbonite, NetApp, SugarSync, Dropbox, Inc., JustCloud.com, Norton, SpiderOak, OpenDrive, ADrive, Reduxio, AMI StorTrends, Tegile Systems, IDrive, Inc., and Microsoft Corporation.

Next-Generation Storage Devices Market Key Segments:

By Storage Technology

Magnetic Storage
Solid-state Storage
Cloud-based Storage
Hybrid Array

By Storage System

Network-attached Storage
Direct-attached Storage
Cloud Storage
Unified Storage
Storage Area Network
Software-defined Storage

By Industry Vertical

BFSI
Retail
IT & Telecommunication
Healthcare
Government
Education
Media & Entertainment
Others

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.

During the forecast period, the report analyzes the growth rate, market size, and market valuation.

The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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Following are the questions answered by the Market report:

What are the goals of the report?

This market report shows the projected market size for the unified communication market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.

The research report includes various factors contributing to the market's growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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