Storage in Big Data Market Size Worth USD 29.04 Billion in 2032 | Google, Microsoft Corporation, Amazon Web Services, VMware Inc., IBM, Dell Inc

The global storage in big data market is poised for remarkable growth, propelled by a slew of factors including the exponential increase in data generation and the growing emphasis on data security and reliability. According to a recent market research report, the market size was valued at USD 6.20 billion in 2022 and is anticipated to witness a rapid revenue Compound Annual Growth Rate (CAGR) of 16.9% during the forecast period.

One of the primary drivers of this growth trajectory is the flexibility and efficiency offered by big data storage solutions in operational data management. With the proliferation of smartphones, Personal Computers (PCs), and other electronic devices, there has been a substantial uptick in data generation, necessitating robust storage solutions to handle the influx effectively.

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Furthermore, organizations worldwide are increasingly investing in enhancing their data storage systems through the adoption of cutting-edge technologies. A notable example is the collaboration between Samsung and Red Hat in May 2022, focusing on developing and validating software solutions for present and emerging storage solutions, which underscores the industry's proactive approach towards innovation.

The escalating volume of big data, propelled by factors such as digitalization and the Internet of Things (IoT), is also fueling the demand for data storage solutions across various industries including banking, healthcare, e-commerce, and financial services. This surge in data volume underscores the critical need for efficient storage solutions to manage and preserve valuable data assets.

However, amidst the promising growth prospects, certain challenges loom over the market. The risk of data corruption and cyberattacks poses a significant threat, potentially restraining market growth. Additionally, factors such as reductions in data storage budgets and the overall cost of flash storage ownership could impede market expansion.

Segment-wise, the software segment currently holds the largest market share owing to its flexibility and decoupling from hardware, providing a wide range of storage services. Conversely, the hardware segment is expected to witness moderate growth, driven by the increasing global demand for Internet usage and computer systems.

In terms of storage medium, direct attached storage remains the preferred option for end users due to its robust data protection features. However, the software-defined storage segment is anticipated to register steady growth, fueled by advancements in technology and the need to efficiently handle unstructured data.

From an industry perspective, the healthcare sector is poised to dominate the market, fueled by the rising adoption of electronic health and medical records. Partnerships between industry players, such as the collaboration between Google Cloud and healthcare providers, are further propelling growth by enhancing healthcare data management capabilities.

Global storage in big data market is on a trajectory of substantial growth, driven by the confluence of factors such as increasing data generation, emphasis on data security, and technological advancements. As organizations continue to grapple with the challenges and opportunities presented by the data deluge, investments in robust storage solutions will remain paramount for sustaining growth and competitiveness in the digital era.

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Storage in Big Data Top Companies and Competitive Landscape

The global storage in big data market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective storage in big data products.

Some of the major companies included in the global storage in big data market report are:
• Google
• Amazon Web Services
• Microsoft Corporation
• VMware Inc.
• IBM
• Dell Inc.
• SAS Institute Inc.
• SAP SE
• Hitachi Data Systems Corporation
• Datadirects Network
• Micron Technology, Inc.
• Drobo, Inc.
• Scality
• Oracle Corporation
• Teradata Corporation
• Datacore
• Nutanix
• Cloudian
• Hewlett Packard Enterprise
• MemSQL

Storage in Big Data Latest Industry Updates

• On 3 January 2022, Oracle updated Oracle Analytics Cloud, which will help users to identify, display, and act on crucial insights with a sparkling fresh style, increased spacing, and typefaces that are specifically designed for dense data.

• On 9 August 2021, IBM launched IBM Db2-based, which may be utilized in containerized micro-service scenarios as well as typical corporate settings. It would also be the engine of other Db2-based single-container products in the most recent edition.

Storage in Big Data Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global storage in big data market on the basis of component, storage medium, storage architecture, deployment type, enterprise size, industry, and region:

• Component Outlook (Revenue, USD Billion; 2019-2032)
o Hardware
o Software
o Services

• Storage Medium Outlook (Revenue, USD Billion; 2019-2032)
o Direct Attached Storage
o Storage Area Network
o Network Attached Storage
o Cloud Storage
o Software Defined Storage

• Storage Architecture Outlook (Revenue, USD Billion; 2019-2032)
o File & Object Based Storage
o Block Storage

• Deployment Type Outlook (Revenue, USD Billion; 2019-2032)
o On-premises
o Cloud
o Hybrid

• Enterprise Size Outlook (Revenue, USD Billion; 2019-2032)
o Large Enterprises
o Small & Medium Enterprises (SMEs)

• Industry Outlook (Revenue, USD Billion; 2019-2032)
o Commercial
o Government
o Information Technology (IT) & Telecom
o Banking, Financial Services, and Insurance (BFSI)
o Healthcare
o Retail
o Media and Entertainment
o Education
o Others

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• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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