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Storage And Servers Support Services Market: Steady Growth Fueled by Data Surge, Scalability Hike, and Cloud Transformation
Storage And Servers Support Services Market Size
What Is The Projected Market Size Of The Global Storage And Servers Support Services Market And Its Growth Rate?
The Storage And Servers Support Services market has experienced a steady growth.
• Market Size 2024: $69.94 billion
• Market Size 2025: $72.32 billion (CAGR: 3.4%)
The enhanced storage needs due to data explosion, business continuity demands and compliance requirements are key growth factors in this period. Additionally, complex IT environments and privacy concerns further bolster the growth.
• Forecast Market Size 2029: $85.66 billion (CAGR: 4.3%)
The forecasted growth can be attributed to an evolutionary shift to hybrid and multi-cloud environments, emphasis on scalability and flexibility, AI & analytics integration and rising remote workforce demands. Other factors include the need for energy efficiency and sustainability.
What Is Driving The Growth In The Storage And Servers Support Services Market?
Increasing data traffic is paving the way for market growth. Organizational data traffic, which refers to high bandwidth utilization for constant network traffic routes, plays a crucial role. Storage and server support solutions are employed to enhance data operations at lesser costs. For example, Ericsson reported a quarter-on-quarter growth of approximately 6 percent in mobile network data traffic from Q4 2023 to Q1 2024, reaching 145 exabytes (EB) globally. This rise in data traffic is a primary driver for market growth.
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Who Are the Key Players Driving Storage And Servers Support Services Market Growth?
Significant contributors in the market include:
• The Hewlett Packard Enterprise Company
• Dell Inc.
• International Business Machines Corporation
• Fujitsu Limited
• Cisco Systems Inc.
• Lenovo Group Limited
• Oracle Corporation
• Huawei Technologies Co. Ltd.
• Shandong Inspur Software Co. Ltd.
What Are The Key Trends In The Storage And Servers Support Services Market?
Key trends in the forecast period:
• Scalability and Flexibility
• Containerization and Microservices
• Software-defined Storage and Networking
• Collaboration and Interoperability
What Are The Segments Of The Global Storage And Servers Support Services Market?
Segments of the Storage And Servers Support Services market:
1) By Product: Rack Servers, Blade Servers, Microservers, Tower Servers
2) By Storage Solution: Scale-Out, Scale-Up, Other Storage Solutions
3) By Deployment: On-premise, Cloud, Other Deployment
4) By Verticals: BFSI, IT And Telecom, Government, Defense, Other Verticals
5) By Application: Industrial Servers, Commercial Servers
Which Region Leads The Storage And Servers Support Services Market?
North America took the lead in the market in 2024. However, during the forecast period, Asia-Pacific is projected to be the fastest-growing region in the market. Other regions encompassed in the market report include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Storage And Servers Support Services Market Global Market Report?
- Market Size Analysis: Analyze the Storage And Servers Support Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Storage And Servers Support Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Storage And Servers Support Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Storage And Servers Support Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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