Next-Generation Data Storage Market Growth, Emerging Trends, Qualitative Outlook, Forecast To 2022

Precision Business Insights published a research report on "Next-Generation Data Storage Market By Storage architecture (FOBS and Block storage), By Storage medium (SSD, HDD, and Tape), By Storage system (Direct attached storage, Network attached storage, and Storage Area network), By End user (Enterprise, Government, Cloud service providers, and Telecom) - Global/Region/Country Forecast to 2028"

In order to deal with expanding file sizes and a massive volume of unstructured data, next generation data storage technology consists of enhanced data storage products and solutions. Data can be recovered in a secure and dependable manner using next-generation data storage. It has made scalable storage and handling of huge organisations' massive amounts of unstructured data possible. In addition, next-generation data storage is employed in a variety of industries, including BFSI, healthcare, and retail.

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The digitization of information in homes and businesses, followed by an increase in the use of mobile computing devices such as mobile phones, laptops, as well as tablets, is driving global market expansion. Furthermore, the volume of digital data is increasing dramatically across industry verticals also including healthcare, retail, and BFSI, necessitating the use of effective next-generation data storage devices. Furthermore, the global market is being driven by an increase in the global penetration of IoT in industries including retail, healthcare, and manufacturing, as well as a considerable increase in the adoption of cloud computing. There are a number of obstacles that will stymie overall market expansion. Market expansion is being stifled by problems such as a scarcity of competent workers and a lack of standards and processes. Furthermore, developing a complex integrated system is a challenging undertaking that limits progress. Furthermore, development is expected to be slow during the forecast period due to the increasing demand for high-speed internet and the significant danger of data security. Furthermore, supplying reliable and high-speed data storage, as well as the high cost of cloud storage, are significant barriers to the worldwide next-generation data storage market's overall growth.

On the basis of Storage System, the market is divided into Network-Attached, Direct-Attached, Storage Area Network, Unified Storage, Cloud Storage, Software-Defined Storage. On the basis of Storage Architecture, the market is classified into File & Object-Based Storage (FOBS), Block Storage. In terms of Application, the market is segregated into Solid-State Storage, Magnetic Storage, and Others. On the basis of End-User, the market is divided into Consumer Goods & Retail, BFSI, Telecommunications & ITES, Manufacturing, Healthcare, Business & Consulting, Others.

North America dominated the global for next-generation data storage, accounting for roughly 45 percent of global revenue. This is due to the massive volume of unstructured data across numerous industrial verticals, as well as the demand for safe and cost-effective data storage solutions. Over the projected period, the widespread accessibility of technologically advanced products like as 3D and molecular storage is likely to fuel the North American market's growth prospects.

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There are several industry players working in the Next-Generation Data Storage Market, which include Enterprise Company, Dell Inc., NetApp Inc., Hitachi Ltd., International Business Machines Corporation, Toshiba Corporation, Pure Storage Inc., Nutanix Inc., Micron Technology Inc., Tintri Inc.

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