Press release
Storage Server Market Size Projected To Reach $804.38 Billion By 2034 With A Cagr Of 20.6%
Storage Server
What Is the Projected Growth of the Storage Server Market?
The storage server market has seen rapid growth in recent years. It will rise from $313.9 billion in 2024 to $379.88 billion in 2025 at a CAGR of 21.0%. This growth can be linked to the rising demand for data storage, the growing use of flash storage, the widespread digital transformation, the expansion of cloud computing, the increasing need for high-performance storage systems, and greater demand for servers.
The storage server market is expected to surge in the coming years, reaching $804.38 billion in 2029 with a CAGR of 20.6%. Growth factors include the rise in e-commerce activity, growing concerns over data privacy, increased demand for personal and home-based storage, expanding storage needs, and more use of hybrid and multi-cloud infrastructures. Prominent trends involve advancements in storage tech, new storage media innovations, AI and ML, decentralized storage, digital transformation, real-time analytics, quantum computing development, and hyper-converged infrastructure.
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What Are the Different Storage Server Market Segments?
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, TH*Care, 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 Are the Primary Drivers Shaping the Storage Server Market?
The increasing adoption of cloud services is expected to drive the growth of the storage server market. Cloud services offer flexible, scalable solutions for businesses to store and manage data. The growing demand for these services is supporting the need for cloud storage servers. For instance, the European Union reported that 45.2% of businesses procured cloud services in 2023, a 4.2% rise compared to 2021. As a result, the growing adoption of cloud services is boosting the storage server market.
Which Companies Are Leading in the Storage Server Market?
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.
What Trends Are Driving Growth in The Storage Server Market?
Major companies in the storage server market are leveraging artificial intelligence (AI) technologies to enhance their products. In August 2022, International Business Machines Corporation (IBM), a U.S.-based technology company, launched the ESS 3500, an enterprise storage server optimized for AI workloads. This server offers high-speed storage solutions for AI applications, utilizing advanced controllers and achieving up to 91 GB/sec sequential read speeds.
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What Are the Top Revenue-Generating Geographies 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Storage Server Market?
2. What is the CAGR expected in the Storage Server Market?
3. What Are the Key Innovations Transforming the Storage Server Industry?
4. Which Region Is Leading the Storage Server Market?
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