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Storage Server Market Report 2024: Growth, Trends, Analysis, Forecast 2033
Storage Server Market
As per the report, the storage server market size has grown exponentially in recent years. It will grow from $260.27 billion in 2023 to $313.9 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%. The storage server market size is expected to see exponential growth in the next few years. It will grow to $667.42 billion in 2028 at a compound annual growth rate (CAGR) of 20.8%.
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Cloud Services Driving Growth In The Storage Server Market
The growing adoption of cloud services is expected to propel the growth of the storage server market going forward. Cloud services refer to a wide range of services delivered over the internet that enable users to access computing resources and software on demand without owning or managing physical servers or infrastructure. Cloud services are growing significantly due to several factors, including disaster recovery and business continuity, scalability and flexibility, security and compliance, hybrid and multi-cloud strategies, digital transformation and remote work, and security and compliance. Cloud storage servers offer a cost-effective, scalable, and reliable solution for businesses to securely store, manage, and access their data in the cloud. For instance, in December 2023, according to the European Union, a Netherlands-based international organization, the percentage of EU businesses that bought cloud computing services increased by 4.2 percentage points in 2023 compared to 2021. Therefore, the growing adoption of cloud services drives the storage server market.
Focus On Enterprise Storage Server For AI Workloads To Gain A Competitive Edge In The Market
Major companies operating in the enterprise server market are focusing on technologies with artificial intelligence (AI) to gain a competitive edge. An enterprise storage server (ESS) designed for AI typically incorporates advanced features and capabilities to support the demanding requirements of AI workloads, which often involve large-scale data processing, model training, and inference tasks. For instance, in August 2022, the International Business Machines Corporation, a US-based technology corporation, launched Enterprise Storage Server (ESS) 3500. Enterprise storage server (ESS) 3500 is a spectrum-scale enterprise storage server (ESS) optimized for artificial intelligence (AI) workloads. This provides fast storage for artificial intelligence (AI) in modeling and training by using multiple types of storage with a faster controller CPU and up to 91 GB/sec sequential read.
The storage server market covered in this report is segmented -
1) By Type: Hyperscale Server Storage Area Network (SAN), Enterprise Server Storage Area Network (SAN)
2) By Application: Small And Medium Business, Large Business
3) By End-User: Banking Financial Services And Insurance (BFSI), Energy, Government And Defense, Healthcare, Information Technology (IT) And Telecommunications, Other End-Users
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Major companies operating in the storage server market are Alphabet Inc., Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Hitachi Ltd., Amazon Web Services, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Wistron Corporation, Fujitsu Limited, NVIDIA Corporation, Hewlett Packard Enterprise Development LP, Toshiba Corporation, NEC Corporation, HCL Technologies Limited, Wiwynn Corporation, Super Micro Computer Inc, NetApp Inc., GIGA-BYTE Technology Co. Ltd., Citrix Systems Inc., Pure Storage Inc., Trend Micro Inc., Nutanix Inc.
Contents of the report:
1. Executive Summary
2. Storage Server Market Report Structure
3. Storage Server Market Trends And Strategies
4. Storage Server Market - Macro Economic Scenario
5. Storage Server Market Size And Growth
…..
27. Storage Server Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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