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Global Storage Server Market Projected to Surpass $804.38 Billion by 2029 with 20.63% Annual Growth
Storage Server
The growing use of cloud services is anticipated to boost the storage server market. Cloud services provide businesses with flexible, scalable, and cost-efficient storage solutions. As cloud services expand, there is a growing demand for storage servers to manage data securely in the cloud. The European Union reported in December 2023 that the percentage of EU businesses purchasing cloud services increased by 4.2 percentage points compared to 2021. This trend is driving the storage server market.
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What Is the projected market size and growth rate for the storage server market?
The storage server market has seen significant growth recently and is expected to increase from $313.9 billion in 2024 to $379.88 billion in 2025, with a CAGR of 21.0%. The growth can be attributed to rising data storage demands, greater use of flash storage, the increasing shift towards digital transformation, expansion of cloud computing, growing need for high-performance storage systems, and a higher demand for servers.
The storage server market is expected to grow to $804.38 billion by 2029, at a CAGR of 20.6%. This rapid growth is driven by the increase in e-commerce websites, growing concerns about data security, the rising demand for personal cloud and home storage solutions, and the expanded use of hybrid and multi-cloud environments. Major trends include advancements in storage technologies, innovations in new storage media, AI and machine learning, decentralized data storage, and quantum computing preparations.
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What new trends are reshaping the storage server market and its opportunities?
Companies in the storage server market are leveraging artificial intelligence (AI) to enhance their competitive edge. For instance, in August 2022, IBM launched the ESS 3500, an enterprise storage server optimized for AI workloads. This server provides fast storage for AI tasks like modeling and training by using multiple storage types, a faster controller CPU, and up to 91 GB/sec sequential read, meeting the high demands of AI data processing.
What major market segments define the scope and growth of the storage server market?
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
Subsegments:
1) By Hyperscale Server Storage Area Network (SAN): Rack-mounted Hyperscale SAN, Blade Hyperscale SAN, Modular Hyperscale SAN
2) By Enterprise Server Storage Area Network (SAN): Fibre Channel SAN, iSCSI SAN, FCoE SAN
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What regions are leading the charge in the storage server market?
North America was the largest region in the storage server market in 2024. The regions covered in the storage server market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the storage server industry growth?
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.
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What Is Covered In The Storage Server Global Market Report?
•Market Size Forecast: Examine the storage server market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the storage server market for a structured understanding.
•Key Players Overview: Analyze major players in the storage server market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the storage server market.
•Segment Contributions: Evaluate how different segments drive overall growth in the storage server market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the storage server market.
•Industry Challenges: Identify potential risks and obstacles affecting the storage server market.
•Competitive Landscape: Review strategic developments in the storage server market, including expansions, agreements, and new product launches.
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