"Smart Strategies, Giving Speed to your Growth Trajectory"

Data Storage Market Size, Share & Industry Analysis, By Storage Medium (Hard Disk Drive, Solid State Drive, Network Attached Storage, Cloud Storage), By Industry (BFSI, IT & Telecom, Government, Healthcare, Retail, Manufacturing, Media & Entertainment, Education, Others) and Regional Forecast, 2020-2027

Region : Global | Report ID: FBI102991 | Status : Ongoing

 

KEY MARKET INSIGHTS

The digitalization of the world led industries to generate a tremendous amount of data. As the paper-based work is replaced by computerized data, the demand for storage devices has been increased exponentially. Although, rapidly increasing adoption of smartphones, laptops, and tablets are boosting the demand for enhanced data storage capacity which is supplementing the market growth. Technological developments have been evolved the offerings of storage devices from a physical storage medium such as hard disk to virtual data storage platforms like a cloud. Even though the trend of major companies to develop own storage platform such as Microsoft Azure, IBM Cloud, AWS, etc. are showcasing that, the data storage market is expected to foresee significant growth. Additionally, growing demand for Artifical Intelligence (AI) in High Performance Computing (HPC) data centers have created a demand for high capacity cloud storage infrastructure. increasing adoption of cloud-based services also anticipated to propel the data storage market growth. The cloud storage is one of the most trending and highly adopted data storage platform, which is flourishing the data storage market growth. The platform along with high storage capacity offers multiple cloud model options as per customer requirements. Moreover, a cost-optimized, flexible, and reliable cloud-based storage solution is expected to drive the data storage market growth in a very well manner. Growing demand for cloud-based services such as infrastructure as a service (IaaS), business as a service, and software as a service (SaaS) is increasing the demand for data storage. Furthermore, emerging technologies such as big data analytics, Internet of Things (IoT) and AI showcasing their dependency on cloud infrastructure, thereby accelerating growth of the data storage market in the future.


Key Market Driver -

• Growing popularity of cloud drives the data storage market growth

Key Market Restraint -

• Lack of data security in server-based and cloud-based storage


Key Players Covered:


To stay ahead of the curve, key players in the data storage market are enhancing their product portfolio by leveraging innovative technologies, to stay ahead in the market competition. Although, many of the market players are expanding their business of data storage by offering cloud solutions. Partnerships and collaborations are carried out to expand the product portfolio by leveraging advanced technologies. Moreover, key players are also focused on the enhancement of their product portfolio to expand businesses.


Some of the key competitors in the data storage market include Dell, Inc., IBM Corporation, Microsoft Corporation, Amazon.com, Inc., Nutanix, Inc., HP Enterprise, Toshiba Corporation, Samsung Group, Netapp, Inc., Quantum Corporation, etc.


Cloud computing services such as hybrid & multi-cloud, data management, and AI & Machine learning offer opportunities for the data storage market to grow in the future. Besides, as the virtual storage popularity is increasing, security concerns are becoming a major challenge for the data storage market to grow which is hampering the growth of the market.


Regional Analysis


Geographically, the data storage market can be segmented into five regions, North America, Europe, Asia Pacific, Middle East, and Africa and Latin America. Among them, Asia Pacific will be expected to showcase the highest growth rate as most developing countries in the region are directing to digitalization. The rising adoption of smartphones, tablets, and smart devices in the region are demanding the cloud-based storage platforms. Further, the growing acceptance of cloud and mobile solutions in developing countries like Singapore, Malaysia, and India are expected to increase the demand for the cloud-based infrastructure of the data store.


To gain extensive insights into the market, Request for Customization


The presence of a large number of technologically developed enterprises within the regions is representing major adoption of data storage products in North America and Europe. Further, technologically developed countries are showcasing larger adoption of highly capacitive storage infrastructure with growing IoT and big data analytics. The presence of a large number of start-up firms in the Middle East and Africa is expected to represent the moderate growth rate in the upcoming years as the region is slower in the adoption of advanced technologies.


Segmentation






















 ATTRIBUTE


 DETAILS

By Storage Medium




  • Hard Disk Drive

  • Solid State Drive

  • Network Attached Storage

  • Cloud Storage



By Industry




  • BFSI

  • IT & Telecom

  • Government

  • Healthcare

  • Retail

  • Manufacturing

  • Media & Entertainment

  • Education

  • Others



By Geography




  • North America (the U.S., and Canada)

  • Europe (the U.K., Germany, France, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)



Key Industry Developments



  • February 2020: Egnyte, Inc. patented protection services and separate file sharing in the cloud has turned into a unified content service. The services are offering better analytics with machine learning technology and tiered storage.  

  • June 2019: Microsoft Corporation collaborated with Oracle Corporation to run and migrate critical enterprise workloads across Oracle Cloud and Microsoft Azure. The collaboration is expected to offer advanced Analytics with AI and autonomous database.


Data Storage Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2019
  • 2016-2018

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization

Information & Technology Clients

Samsung
Coursera
Dell_Logo
Oracle_logo
ABB_logo

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X