The global Next-Generation Data Storage Market size was projected at US$ 53.1 billion in 2018. It is expected to reach US$ 118.22 billion by 2025 with a CAGR of 12.5% during the forecast period. This could be attributed to the ever-increasing digitization and globalization. The basic advantage of next-generation data storage is that it makes way for reliable, quicker, scalable, secure, and cost-effective ways of storing data. The sectors witnessing next-generation data storage at the moment include data centers, automotive, and IT. The factor catalyzing the market is the fact that information growing by leaps and bounds does require space for storage as well as maintenance.
Top Companies:
The players contributing to the next-generation data storage market include Dell, Cloudian, Drobo, Fujitsu, Hitachi, HP, IBM, Inspur, Micron Technology, Netapp, Netgear, Nexenta Systems, Nutanix, Pure Storage, Quantum, Samsung, Scality, Tintri, Toshiba, and VMWare.
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Market Segmentation:
Technology Outlook:
- Magnetic Storage
- SSD
- Hybrid Flash Array
Technique Outlook:
- Direct-Attached Storage
- Network-Attached Storage
- Storage Area Network
Type Outlook:
- Local (on-premise)
- Remote (cloud)
- Hybrid
End User Outlook:
- Home
- Business
- BFSI
- Retail
- Healthcare
- Government Bodies
- Telecom Companies
- Cloud Service Providers
Regional Outlook:
By geography, the next-generation data storage industry is segmented into North America (U.S., Canada), Europe (Spain, Italy, France, Germany, and the UK), Asia Pacific (Japan, China, ANZ (Australia & New Zealand)), South Korea, and India), LATAM (Mexico, Brazil), and MEA (Saudi Arabia, South Africa, and Israel). North America rules the market due to immediate adoption of the latest technology by the U.S. Europe comes in second; followed by the Asia Pacific, which is a promising market for next-generation data storage; especially after initiatives like “Digital India” coupled with the availability of wearable devices, smartphones, and low-cost tablets.
Players
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