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External Storage Market to Record an Exponential CAGR by 2027

11-03-2017 06:17 AM CET | IT, New Media & Software

Press release from: Future Market Insights

External Storage Market to Record an Exponential CAGR by 2027

External storage, also called as auxiliary storage or secondary storage, comprises of all addressable data storage that do not belong to the computer's main storage or memory. Such devices are not permanently fixed inside a computer. They offer advantages such as enhanced data storage capacity, portability, and data backup options.

In recent years, external storage market witnessed a significant year-on-year growth, mainly due to due to increased spending in storage technology across communications, media and banking verticals along with residential sector, especially in emerging economies.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-2935

Market Overview:

After an initial slowdown in 2014, the demand for external storage picked up with customer preference shifting to low-cost storage solutions. This shift has resulted in a loss of share for large storage vendors at the expense of smaller providers.

External storage systems involves range of techniques such as magnetic storage, optical storage, solid state storage and smart cloud devices.

Market Dynamics:

External storage tools are crucial components of modern businesses. The growth of external storage market is driven by factors such as increasing uptake of digital transformation projects across organizations, momentum in the adoption of hybrid & all flash arrays, increased government spending in advanced storage technologies and growing volumes of data due to increasing workloads (such as VDI, OLTP and DB) across verticals.

Additionally, increasing number of enterprises are shifting to procure external storage solutions from by small storage vendors, offering better capacity/performance with competitive prices. Enterprises are allocating significant share of their budgets for external storage solutions and an appreciable portion of these investments are expected to flow into the external storage market.

However, advanced technologies such as software-defined storage and hyper-converged infrastructure are expected to cannibalize traditional external storage market, and is expected to have a large impact during the forecast period.

Market Segmentation:

Global External Storage market is mainly classified on the basis of type of storage technique, end user and regions.

On the basis of type of storage technique, global external storage market is segmented into police optical storage (CD/DVD and blue-ray), solid state storage & flash memory devices (memory cards, memory stticks), smart cloud devices, and external hard drives.

On the basis of verticals the market is segmented as commercial (BFSI, IT & Telecommunication, hospitals, media & entertainment, law firms, education, government institutions and others) and residential.

On the basis of regions, the market is segmented into 7 key regions:

North America

Latin America

Western Europe

Eastern Europe

Asia Pacific Excluding Japan

Japan

Middle East & Africa

To view TOC of this report is available upon request @ https://www.futuremarketinsights.com/toc/rep-gb-2935

Key Market Players

The major players in the global external Storage market include of Netapp, EMC Corporation (Dell), Hewlett Packard Enterprise Development LP, International Business Machines Corporation (IBM), Toshiba Corporation, Hitachi Data Systems, Seagate Technology LLC, Pure Storage, Inc., Fujitsu and Huawei Technologies Co., Ltd.

In recent years, external storage systems vendors have witnessed a decline in revenues due to a slowdown in hardware sales, majorly due to increasing competition from smaller vendors and flash-storage startups.

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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Email: sales@futuremarketinsights.com
Web:https://www.futuremarketinsights.com/

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