Press release
Data Storage Market Insights: Comprehensive Analysis of Industry Demand, Growth Factors, and Technological Advancements
Data Storage Market
As per the report, the data storage market size has grown rapidly in recent years. It will grow from $155.67 billion in 2023 to $176.20 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The data storage market size is expected to see rapid growth in the next few years. It will grow to $293.91 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%.
Download Free Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14895&type=smp
Cloud-Based Services Driving The Data Storage Market Growth
The penetration of cloud-based services is expected to propel the growth of the data storage market going forward. Cloud-based services refer to software programs that are hosted on the vendor's server and made available remotely for the benefit of the client. The increasing adoption of cloud-based services is driven by their scalability and flexibility in meeting diverse business needs. Data storage is a foundational component of cloud computing, enabling organizations to harness the cost efficiency, accessibility, security, and analytics capabilities offered by cloud services. Cloud storage also serves as the foundation for advanced data analytics and insights, enabling organizations to derive actionable intelligence from their data. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of EU enterprises purchased cloud computing services, mostly to host their email systems, store electronic files, and accomplish other tasks. Purchases of cloud computing services by EU enterprises increased by 4.2 percentage points in 2023 compared to 2021. Therefore, the penetration of cloud-based services is driving the growth of the data storage market.
Artificial Intelligence (AI)-Based Solutions Revolutionize The Data Storage Market
Major companies operating in the data storage market are focusing on developing advanced solutions, such as artificial intelligence (AI)-based storage solutions, to gain a competitive edge in the market. This artificial intelligence (AI)-based storage solution technology utilizes advanced algorithms to optimize data management, retrieval, and storage efficiency within the data storage market. For instance, in February 2024, Huawei Technologies Co. Ltd., a China-based technological company, launched three innovative data storage solutions to help carriers worldwide build leading data infrastructure in the AI era. These solutions include the AI data lake, which is designed to aggregate independent and scattered data sources in AI data factories to mine value from the data; the all-scenario data protection solution, which is designed to boost the resilience of data assets through production-backup collaboration and backup-archive collaboration and the DCS (Datacenter Virtualization Solution) full-stack data center solution, which is designed to help carriers achieve higher IT service efficiency and agility by covering data collection, storage, computing, management, and usage, delivering comprehensive infrastructure as a service (IaaS) and platform as a service (PaaS).
The data storage market covered in this report is segmented -
1) By Type: Primary Storage, Secondary Storage
2) By Storage Architecture: File, Object-based Storage, Block Storage, Other Storage Architectures
3) By Product: Cloud Storage, Network Storage, Unified Storage, Direct Attached Storage, Storage Area Network, Software-Defined Storage
4) By Industry: Banking, Financial Services, And Insurance, Information Technology And Telecommunications, Healthcare, Retail, Media And Entertainment, Education, Other Industries
Buy Now & Get Exclusive Discount on this Report, Checkout link @ https://www.thebusinessresearchcompany.com/Discount?id=14895&type=discount
Major companies operating in the data storage market are Samsung Electronics Co Ltd, Dell Technologies Inc., Huawei Technologies Co Ltd, Lenovo Group Limited, International Business Machines Corporation, Cisco Systems Inc, Oracle Systems Corporation, Fuji Electric Co Ltd, Micron Technology Inc, Hewlett Packard Enterprise Company, Tokyo Shibaura Electric Co Ltd, Nippon Electric Company Ltd, Western Digital Corporation, Kingston Technology Company Inc, Seagate Technology Holdings plc, NetApp Inc, Supermicro Computer Inc , Marvell Technology Group Ltd, Hitachi Ltd., Pure Storage Inc, Nutanix Inc, GlassBridge Enterprises Inc, Quantum Corporation Ltd, Inspur software Co Ltd , Synology Inc
Contents of the report:
1. Executive Summary
2. Data Storage Market Report Structure
3. Data Storage Market Trends And Strategies
4. Data Storage Market - Macro Economic Scenario
5. Data Storage Market Size And Growth
…..
27. Data Storage Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Explore the report store to make a direct purchase of the report @ https://www.thebusinessresearchcompany.com/report/data-storage-global-market-report
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Data Storage Market Insights: Comprehensive Analysis of Industry Demand, Growth Factors, and Technological Advancements here
News-ID: 3566021 • Views: …
More Releases from The Business research company
Evolving Market Trends In The Integrated Geophysical Services Industry: Enhancin …
The Integrated Geophysical Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Integrated Geophysical Services Market Size During the Forecast Period?
The integrated geophysical services market has experienced consistent growth in recent years, expected to rise from $2.35 billion in 2024 to…
Global HR Advisory Services Market: Key Trends, Market Share, Growth Drivers, An …
The HR advisory services market report describes and explains the HR advisory services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global HR advisory services market reached a value of nearly $155.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.22% since…
High Voltage Aluminium Electrolytic Capacitors Global Market Report 2025: Size, …
The high voltage aluminum electrolytic capacitors report describes and explains the high voltage aluminum electrolytic capacitors market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global high voltage aluminum electrolytic capacitors market reached a value of nearly $4.10301 billion in 2024, having grown at a compound annual growth…
Global Vertical Market Software Market: Key Trends, Market Share, Growth Drivers …
The vertical market software report describes and explains the vertical market software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global vertical market software market reached a value of nearly $152.61027 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.11% since 2019.…
More Releases for Storage
Vehicle Storage Unit Market Size, Trends 2031 By Key Players- U-Haul, CubeSmart, …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲: According to Verified Market Reports analysis, the global Vehicle Storage Unit Market size was valued at USD 13.64 Billion in 2023 and is projected to reach USD 22.85 Billion by 2030, growing at a CAGR of 5.90% during the forecasted period 2024 to 2031.
What is the current outlook for the Vehicle Storage Unit Market, and how is it projected to grow?
The Vehicle Storage Unit Market is experiencing robust growth…
Business Storage Market | Access Self Storage, Big Yellow Self Storage Company, …
The global business storage market report is a comprehensive report that provides a detailed analysis of the current status and future trends of the business storage market worldwide. This report provides valuable information to industry stakeholders by offering an in-depth perspective on market dynamics, competitive landscape, growth opportunities, and key challenges faced by industry participants.
From the perspective of market dynamics, this report explores the factors driving the growth of the…
2023 Business Storage Market Revenue and Future Demands- CubeSmart, Public Stora …
The Business Storage market research report is proficient and top to bottom research by specialists on the current state of the industry. This statistical surveying report gives the most up to date industry information and industry future patterns, enabling you to distinguish the items and end clients driving income development and benefit. It centres around the real drivers and restrictions for the key players and present challenge status with development…
Household Storage Market 2022 by Keyplayers and Vendors:Ward North American, Eas …
The Global Household Storage Market: 2022 has been recently published by the Mr Accuracy Reports. The report offers a cutting edge about the Household Storage market, which helps the business strategists to make the best investment evaluation.
"The recession is going to come very badly . Please get to know your market RIGHT NOW with an extremely important information."
The Household Storage market industry report includes details about the historical analysis…
Video Surveillance Storage Market Growing Up By Storage Technology: Network atta …
Acumen Research and Consulting has announced the addition of the "Video Surveillance Storage Market” report to their offering.
The Video Surveillance Storage Market Report 2018 is an in depth study analyzing the current state of the Video Surveillance Storage Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Video Surveillance Storage Market provides analysis of China market covering…
Self-Storage Software Market Trends, Developments, Future Prospects and Prominen …
The Self-Storage Software Market is a category of management software. It has user-friendly and bendable functions to meet the needs of small to large facilities. Some of the leading self-storage software programs offer structures, such as facility maps, specialized payment options, online access for customers, and gate access integration as well.
You can get a sample copy of this report @ https://www.orianresearch.com/request-sample/1498463
Emergence of cloud-based self-storage software and mobile applications are…
