Press release
Hardware Storage Market Poised for 12.3% Growth, Set to Hit $22.57 Billion by 2029
Hardware Storage Market
The hardware storage market is predicted to grow due to the increasing demand for substantial amounts of digital data. This data, which is typically encoded in binary format and processed and stored by computers, is becoming more prevalent due to the increasing need for insights, innovation, and decision-making in various sectors. Hardware storage solutions can offer high scalability and expandability to handle the growing storage needs, offering high-capacity storage capable of holding data in terabytes or even petabytes. As per a Linux Foundation report, in December 2022, an average end-user organization with storage capacity up to 20 petabytes saw an annual data growth of 566 TB in 2021, which rose to 1,746 TB in 2022. Likewise, organizations with a storage capacity of up to 25 petabytes saw an increase in annual data growth, reaching 2,208 TB in 2022, three times more than the previous year's 700 TB. Thus, the rising demand for large volumes of digital data is propelling the hardware storage market's growth.
Get Your Hardware Storage Market Report Here:
https://www.thebusinessresearchcompany.com/report/hardware-storage-global-market-report
What is the future CAGR of the hardware storage market, and how will it impact industry expansion?
The dimensions of the hardware storage market have seen a swift expansion in recent times. The market, currently valued at $91.86 billion in 2024, is projected to surge to $103.44 billion in 2025, representing a compound annual growth rate (CAGR) of 12.6%. Factors propelling growth during the historic period include the rise of mobility and remote work, security issues, regulatory compliance requirements, advancements in big data and analytics, cost-cutting measures, and the growth in data creation.
In the forthcoming years, the hardware storage market is projected to undergo rapid expansion, reaching $164.4 billion in 2029, with a 12.3% compound annual growth rate (CAGR). The growth during the forecast period is ascribed to factors such as hybrid and multi-cloud tactics, digital overhaul, the growth of the internet of things, the assimilation of cloud technology, and an eruptive increase in data. There are several trends that stand out for the forecast period such as the advent of storage class memory, an inclination towards software-oriented storage, emphasis on data security and confidentiality, surge in cloud-integrated storage solutions, growth of non-volatile memory express storage, and escalating usage of solid-state drives.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14924&type=smp
What are the most significant trends transforming the hardware storage market today?
In an effort to secure a competitive advantage in the hardware storage industry, key players are investing in the creation of innovative solutions, such as the development of industrial-grade solid-state drives. These drives are particularly beneficial in hardware storage because they meet the challenging prerequisites of industrial applications while providing high durability, reliability, and performance, even in severe conditions. For example, in September 2023, Solid State Storage Technology Corporation, a firm specializing in solid-state drives and flash memory based in Taiwan, introduced the CL6 series. This product, the globe's first industrial-grade SSD, offers a more reliable and proficient storage experience by employing the fully developed host memory buffer technology, which outpaces DRAM-less SSDs regarding performance. Thanks to the SLC caching, it can reach sequential reading speeds of up to 6,000 MB/s and writing speeds of up to 5,300 MB/s. It is offered in common M.2 2280 format, M.2 2242, and M.2 2230, to cater to diverse application storage needs, with a maximum capacity of 2TB.
Which key market segments comprise the hardware storage market and drive its revenue growth?
The hardware storage market covered in this report is segmented -
1) By Storage Architecture: File, Object-Based Storage, Block Storage
2) By Storage System: Network Attached Storage (NAS), Direct Attached Storage (DAS), Storage Area Network (SAN)
3) By Storage Medium: Solid-State Drive (SSD), Hard Disk Drive (HDD), Tape, Other Storage Mediums
4) By End Users: Enterprise, Government, Cloud Service Providers, Telecommunication, Other End Users
Subsegments:
1) By File: Network-Attached Storage (NAS), Storage Area Network (SAN) With File-Level Access, Distributed File Systems, Cloud File Storage Solutions
2) By Object-Based Storage: Cloud Object Storage, On-Premises Object Storage, Hybrid Object Storage Solutions, Software-Defined Object Storage
3) By Block Storage: Direct-Attached Storage (DAS), Storage Area Network (SAN) With Block-Level Access, Cloud Block Storage, Virtual Block Storage Solutions, All-Flash Block Storage
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14924
What regions are at the forefront of hardware storage market expansion?
North America was the largest region in the hardware storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hardware storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the hardware storage market?
Major companies operating in the hardware 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.
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=14924&type=smp
What Is Covered In The Hardware Storage Global Market Report?
•Market Size Forecast: Examine the hardware storage market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hardware storage market for a structured understanding.
•Key Players Overview: Analyze major players in the hardware storage market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hardware storage market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hardware storage market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hardware storage market.
•Industry Challenges: Identify potential risks and obstacles affecting the hardware storage market.
•Competitive Landscape: Review strategic developments in the hardware storage market, including expansions, agreements, and new product launches.
Connect with 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.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
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 Hardware Storage Market Poised for 12.3% Growth, Set to Hit $22.57 Billion by 2029 here
News-ID: 3914172 • Views: …
More Releases from The Business Research Company
Top Trends Transforming the Fluoropolymer Films Market Landscape in 2025: Techno …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Fluoropolymer Films Industry Market Size Be by 2025?
The fluoropolymer films market has seen strong growth recently. It will expand from $2.5 billion in 2024 to $2.65 billion in 2025 at a CAGR of 5.7%. Growth drivers in the past included high thermal stability, electronics manufacturing…
Driving Digitally Printed Wallpaper Market Growth in 2025: The Role of Rising Ur …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Digitally Printed Wallpaper Market Size Growth Forecast: What to Expect by 2025?
The digitally printed wallpaper market has expanded rapidly in recent years. It will grow from $9.13 billion in 2024 to $10.26 billion in 2025, at a CAGR of 12.4%. Historic growth was fueled by interior design preferences,…
Top Market Shifts Transforming the Biodegradable Paper and Plastic Packaging Mar …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Biodegradable Paper and Plastic Packaging Market Through 2025?
Over the past few years, we've witnessed a significant expansion in the size of the biodegradable paper and plastic packaging market. It is projected to rise from $12.97 billion in 2024 to $14.12 billion…
Acrylic Rubber Market Landscape to 2034: Key Forces Shaping the Next Decade of G …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Acrylic Rubber Market Size By 2025?
The acrylic rubber industry has seen robust growth in the past few years. The market value, which is projected to escalate from $1.63 billion in 2024 to $1.74 billion in 2025, implies a compound annual growth rate (CAGR) of…
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…
