Press release
Next-Generation Data Storage Market Rising: Insights on Market Size, Growth Factors, and Emerging Trends
Data Storage Market
• The next-generation data storage market has exhibited robust growth in recent years, expanding from $87.37 billion in 2024 to $95.5 billion in 2025, showing an impressive compound annual growth rate (CAGR) of 9.3%.
• Reasons for this growth include rapid data growth, digital transformation initiatives, the essentiality of prompt data retrieval, data security concerns, and the demand for cost-effective storage solutions.
• The next-generation data storage market is projected to witness explosive growth in the coming years, with market size expected to soar to $157.34 billion in 2029 at a CAGR of 13.3%.
• This forecasted growth can be attributed to the expansion of edge computing, a focus on energy-efficient storage, developments in quantum computing, data compliance and privacy regulations, and enhanced security measures.
What Is Driving The Growth In The Next-Generation Data Storage Market?
A boom in the usage of mobile and smart devices is primed to leverage the growth of the next-generation data storage market. Electronic gadgets interfaced with intelligent systems generate vast amounts of data, necessitating robust next-generation storage solutions. A notable example from February 2023: according to Uswitch Limited, a UK-based financial conduct authority, mobile connections in the UK increased by 3.8% from 2021, reaching 71.8 million in 2022. It's predicted that by 2025, 95% of the UK's projected population of 68.3 million will be smartphone users. This surge in mobile and smart device use is a significant growth driver for the next-generation data storage market.
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Who Are the Key Players Driving Next-Generation Data Storage Market Growth?
• Samsung Electronics Co. Ltd.
• Dell Technologies Inc.
• Hitachi Ltd.
• Huawei Technologies Co. Ltd.
• The International Business Machines Corporation
• SK hynix Inc.
• Broadcom Inc.
• Fujitsu Limited
• Hewlett Packard Enterprise Company
• Toshiba Corporation
• Infineon Technologies AG
• Western Digital Technologies Inc.
• Microchip Technology Inc.
• Inspur Group Co. Ltd.
• NetApp Inc.
• Pure Storage Inc.
• Nutanix Inc.
• Pure Storage Inc.
• Rambus Incorporated
• DataDirect Networks
• Everspin Technologies Inc
• Cloudian Inc.
• Drobo Inc.
• Viking Technology
• Avalanche Technology Inc.
• Spin Memory Inc.
• 4DS Memory Limited
• Nantero Inc.
What Are The Key Trends In The Next-Generation Data Storage Market?
Notable trends in the forecast period include:
• Adoption of non-volatile memory (NVM) technologies
• Advancements in solid-state drives (SSDs)
• Deployment of storage virtualization
• Integration of artificial intelligence (AI) in storage management
• Hybrid and multi-cloud storage solutions
What Are The Segments Of The Global Next-Generation Data Storage Market?
• By Type: Direct Attached Storage (DAS), Network Attached Storage (NAS), Storage Area Network (SAN), Other Types
• By Technology: Magnetic Storage, Hybrid Flash Array, Solid State Drive (SSD)
• By Architecture: File-Based, Object-Based, Block Storage
• By Deployment: On Premise, Cloud
• By Industrial Vertical: BFSI, Government, Retail, IT And Telecommunication, Manufacturing, Healthcare, Education, Media And Entertainment
Which Region Leads The Next-Generation Data Storage Market?
North America was the largest region in the next-generation data storage market in 2024. However, Asia-Pacific is forecasted to be the fastest-growing region in the coming years.
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What Is Covered In The Next-Generation Data Storage Market Global Market Report?
- Market Size Analysis: Analyze the Next-Generation Data Storage Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Next-Generation Data Storage 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 Next-Generation Data Storage Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Next-Generation Data Storage Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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