Press release
Emerging Enterprise Storage Market Trends: Enhancing Enterprise Storage With Advanced Software-Defined Solution Shaping the Future of the Industry
Enterprise Storage
Enterprise Storage Market Size Growth Forecast: What to Expect by 2025?
In the past few years, there has been a substantial increase in the size of the enterprise storage market. Projections suggest that it is going to soar from $146.36 billion in 2024 to $159.11 billion in 2025, with an impressive compound annual growth rate (CAGR) of 8.7%. The expansion during the historic era can be credited to growing interest in hybrid clouds, the necessity to handle and store a huge amount of data, the swift expansion of the internet of things (IoT), the emergence of big data analytics, and the demand for data safety.
How Will the Enterprise Storage Market Size Evolve and Grow by 2029?
The enterprise storage market is predicted to experience substantial expansion in the coming years, escalating to a value of $219.29 billion in 2029 with a compound annual growth rate (CAGR) of 8.4%. The projected growth during this period is linked to the heightened demand for storage solutions among enterprises, a surge in the uptake of cloud-based storage solutions, cloud computing implementation, rising requirements for data storage, and increased request by enterprises. Noteworthy trends during the forecast period encompass technological progress, the introduction of artificial intelligence and machine learning, the proliferation of flash storage, the uptake of software-defined storage, and the acceptance of hybrid cloud storage.
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What Drivers Are Propelling the Growth of Enterprise Storage Market Forward?
The upward trend in the use of cloud computing is anticipated to enhance the expansion of the enterprise storage market. Cloud computing, which involves the internet-based provision of computing services, such as servers, storage, databases, networking, software, and analytics is increasingly needed due to its robust infrastructure. Its resilience comes with inbuilt redundancy and failover mechanisms that guarantee high availability and reliability. The flexible storage offered by cloud computing can be customised to fit the needs of a company, negating the necessity for major hardware investments. Furthermore, it safeguards data availability and integrity as businesses can duplicate data in multiple geographic regions and utilize inbuilt disaster recovery solutions to reduce the probability of data loss and downtime. For instance, AAG IT Services, a UK-based IT and digital transformation services firm, stated that Google Cloud generated $6.87 billion in Q3 2022, representing an increase from $4.99 billion the previous year. Google Cloud's revenue then climbed to $7.32 billion by the end of Q4 2022, illustrating a year-over-year growth of 32%. Hence, the increasing utilization of cloud computing is fostering the development of the enterprise storage market.
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Which Emerging Trends Are Transforming the Enterprise Storage Market in 2025?
Major players in the enterprise storage market are concentrating on creating solutions with automation and orchestration capabilities, like software-defined storage platforms. These solutions aim to eliminate hardware dependencies and offer fundamental services for secure enterprise storage. The software-defined storage platforms are an advanced storage model tailored for complex workflows. They deliver multi-tenancy, easy management, security, and efficiency. As an illustration, DataDirect Networks, a firm based in the USA that offers data storage and data management solutions, unveiled DDN Infinia for Enterprise AI and Cloud in November 2023. DDN Infinia offers an expedient and cost-efficient alternative to cloud storage, and it can build a secure storage cluster in minutes, complete upgrades, and expand capacity without interruption. Also, it provides scalable storage for data governance and control, along with scalable metadata management that works towards reducing data and metadata's complexity and duplication. Supporting S3 object storage, Docker containers, and Openstack virtual machines, it enables the management of all distributed data with minimal effort and expense.
What Are the Key Segments in the Enterprise Storage Market?
The enterprise storage market covered in this report is segmented -
1) By Type: Storage Area Networks Systems (SANs), Network-Attached Storage Systems, Direct-Attached Storage (DAS) Systems, Object Storage Systems, Tape Storage Systems
2) By Deployment: On-Premise, Hybrid, Cloud-Based
3) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End-User Industry: Information Technology (IT) And Telecommunications (Telecom), Banking, Financial Services, And Insurance (BFSI), Healthcare, Manufacturing, Government, Other End-User Industries
Subsegments:
1) By Storage Area Networks (SANs): Fibre Channel SAN, iSCSI SAN, FCoE (Fibre Channel over Ethernet) SAN
2) By Network-Attached Storage (NAS) Systems: File-level NAS, Unified NAS, Cloud-integrated NAS
3) By Direct-Attached Storage (DAS) Systems: External DAS, Internal DAS, DAS For SMBs
4) By Object Storage Systems: Cloud Object Storage, On-Premise Object Storage, Hybrid Object Storage
5) By Tape Storage Systems: Linear Tape-Open (LTO), Digital Linear Tape (DLT), Optical Tape Storage
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Who Are the Key Players Shaping the Enterprise Storage Market's Competitive Landscape?
Major companies operating in the enterprise storage market are Samsung Electronics Co. Ltd., Dell Inc., Huawei Technologies Co. Ltd., Lenovo Group Ltd., Intel Corporation, HP Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Fujitsu Limited, Micron Technology Inc., Toshiba Corporation, NEC Corporation, NetApp Inc., Hitachi Vantara LLC, Pure Storage Inc., Nutanix Inc., Imation Corporation, DataDirect Networks, Tintri Inc., Overland Tandberg, Nimbus Data, Nfina Technologies Inc., DATROX Computer Technologies Inc.
What Geographic Markets Are Powering Growth in the Enterprise Storage Market?
North America was the largest region in the enterprise storage market in 2024. The regions covered in the enterprise storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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