Press release
Global Storage And Servers Support Services Industry Outlook 2025-2029: Market Set to Cross $83.84 Billion Milestone
Storage And Servers Support Services
How Large Will the Storage And Servers Support Services Market Size By 2025?
In recent times, there has been a consistent increase in the market size of storage and servers support services. It is projected to rise from $69.56 billion in 2024 to $71.34 billion in 2025, experiencing a compound annual growth rate (CAGR) of 2.6%. This growth during the historical period is largely due to the surge in data and storage requirements, requirements for business continuity and disaster recovery, regulatory compliance necessities, the rising complexities of IT environments, and concerns around data security and privacy.
How Big Is the Storage And Servers Support Services Market Size Expected to Grow by 2029?
Predictions for the storage and servers support services market size suggest a steady growth in the foroming years, culminating in a market value of $83.84 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 4.1%. The expected growth in this forecast period can be associated to the transition towards hybrid and multi-cloud environments, an emphasis on scalability and flexibility, the integration of AI and analytics, a remote workforce and accessibility, as well as energy efficiency and sustainability. Anticipated trends within this forecast period encompass scalability and flexibility, containerization and microservices, software-defined storage and networking, along with collaboration and interoperability.
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Which Key Market Drivers Powering Storage And Servers Support Services Market Expansion and Growth?
The surge in data traffic is projected to fuel the expansion of the storage and server support services market. The term organizational data traffic pertains to the substantial bandwidth usage required for persistent and intense network traffic routes. Storage and server support solutions cater to the storage and upkeep of organizational data traffic and applications. These applications, which may be on-site or off-site, streamline data operations while reducing costs. For instance, a report by Ericsson, a telecommunications company based in Sweden, revealed that mobile network data traffic saw a roughly 6 percent growth from Q4 2023 to Q1 2024, as observed in June 2024. The total worldwide mobile network data traffic hit 145 exabytes (EB) for the month. Consequently, the growth of the storage and server support services market is being driven by the escalation in data traffic.
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Which Fast-Growing Trends Are Poised to Disrupt the Storage And Servers Support Services Market?
The rise of technological advances is a leading trend noticed in the storage and server support services market. A large number of companies in this sector are dedicated to creating top-notch storage solutions, with technology at the forefront, to solidify their market stance. For example, the USA's Transaction Network Services (TNS), a finance services company, in August 2023, introduced the TNS Cloud, a server-management TNS platform. This platform delivers an entire suite of trading infrastructure and support for buy- and sell-side institutions and vendors. The TNS Cloud-Server Management combines the company's unique server hosting capabilities with direct server management, built for high-performance exchange trading using TNS's unadorned metal servers and ultra-low latency trade connectivity. By offering a comprehensive solution, these clients can significantly reduce the complications and costs tied to their trading centers, freeing up their staff to focus on pivotal business objectives and market entry opportunities.
What Are the Emerging Segments in the Storage And Servers Support Services Market?
The storage and servers support servicesmarket covered in this report is segmented -
1) By Product: Rack Servers, Blade Servers, Microservers, Tower Servers
2) By Storage Solution: Scale-Out, Scale-Up, Other Storage Solutions
3) By Deployment: On-premise, Cloud, Other Deployment
4) By Verticals: BFSI (Banking, Financial Services And Insurance), IT And Telecom, Government , Defense, Other Verticals
5) By Application: Industrial Servers, Commercial Servers
Subsegments:
1) By Rack Servers: 1U Rack Servers, 2U Rack Servers, Multi-U Rack Servers
2) By Blade Servers: Full-Height Blade Servers, Half-Height Blade Servers, Blade Enclosures
3) By Microservers: ARM-Based Microservers, Intel-Based Microservers, Custom Microservers
4) By Tower Servers: Entry-level Tower Servers, Mid-Range Tower Servers, High-Performance Tower Servers
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Who Are the Global Leaders in the Storage And Servers Support Services Market?
Major companies operating in the storage and servers support services market include The Hewlett Packard Enterprise Company, Dell Inc., International Business Machines Corporation, Fujitsu Limited, Cisco Systems Inc., Lenovo Group Limited, Oracle Corporation, Huawei Technologies Co. Ltd., Shandong Inspur Software Co. Ltd., Microsoft Corporation, NEC Corporation, Hitachi Systems India Pvt. Ltd., Super Micro Computer Inc., Amazon Web Services Inc., Google LLC, Zadara Storage Inc., Quantum Corporation, DigitalOcean Holdings Inc., Wasabi Technologies Inc., VMware Inc., Arista Networks Inc.
Which are the Top Profitable Regional Markets for the Storage And Servers Support Services Industry?
North America was the largest region in the storage and servers support services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the storage and server support services market report during the forecast period. The regions covered in the storage and servers support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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