Next Generation Data Storage Technology Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Next Generation Data Storage Technology Market is expected to grow from USD 53.9 billion in 2020 to USD 81 billion in 2025, growing at a CAGR of 8.5% during the forecast period.
Next Generation Data Storage Technology Market Overview:
Next generation data storage technology is comprised of advanced data storage products and solutions, in order to deal with increasing file size and a vast amount of unstructured data. Next generation data storage technology allows secure and reliable recovery of data in an efficient manner. It has facilitated scalable storage and handling of the vast amount of unstructured data generated by large enterprises. Furthermore, next generation data storage technology is used in various industry verticals including BFSI, healthcare, retail, etc.
Next Generation Data Storage Technology market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Next Generation Data Storage Technology market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Next Generation Data Storage Technology market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Next Generation Data Storage Technology Market Dynamics and Growth Factors:
Data security breaches in cloud and server-based services are expected to hamper the growth of the global next-generation data storage market over the forecast period
Data security breaches are among the top concerns of marketers. Lack of stringent security parameters can lead to security gaps in cloud services and server-based services. A high level of data security is required, especially in the case of cloud-based services. Data breaches, which can lead to the exposure of sensitive data, is a common danger of cloud computing. Hence, these factors are expected to hinder the growth of the global next generation data storage market over the forecast period.
High costs associated with cloud storage are expected to restrain the growth of the global next generation data storage market over the forecast period
Cloud storage is an expensive service that requires a significant investment. Although large companies have the ability to invest large sums of money in this area, many SMEs are reluctant to do so. In fact, they prefer traditional ways of storing data. Hence, these factors are expected to restrain the growth of the global next generation data storage market over the forecast period.
- Key market players are focusing on product launches to enhance their product portfolios. For example, in October 2019, Hitachi Vantara launched the Hitachi Vantara Storage Platform (VSP) 5000 series, an enterprise-class next generation data storage technology solution.
- Major companies are involved in product launches to gain a competitive advantage in the market. For example, in September 2020, HP Development launched the next-generation data storage solutions for small and medium-sized enterprises, "HPE Modular Smart Array (MSA) and HPE MSA Gen 6".
Top Key Players include in the Next Generation Data Storage Technology Market are
Dell EMC, IBM, HP, Western Digital, Toshiba, Seagate, Kingston, Sandisk, Micron Technology, Nutanix, NetApp, Quantum, Hitachi, Drobo, Avago Technologies, SimpliVity, Tintri, and others.
The Next Generation Data Storage Technology market research report is categorized based on type, applications and region.
On the Basis of Type:
- Cloud-Based Disaster Recovery
- All-Flash Storage Arrays
- Hybrid Array
- Holographic Data Storage
- Heat Assisted Magnetic Recording (HAMR)
On the Basis of Application:
- Government Organization
On the Basis of Region:
Geographically, the global Next Generation Data Storage Technology market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Next Generation Data Storage Technology region is dominating this market in the upcoming future.
North America dominated the next generation data storage technology market in 2018, accounting for nearly 40% revenue share of the global market. This can be attributed to the large amount of unstructured data across multiple verticals and the need for secure and economic data storage solutions. Ease of availability of technologically advanced products such as 3D and molecular storage is likely to further drive the growth prospects of the North American market over the forecast period.
Asia Pacific is expected to witness the fastest growth in the next generation data storage technology market during the forecast period. Rapid increase in the number of laptop and smartphone users, rising disposable income, and heightened consumer awareness are the key factors expected to increase the demand for reliable, secure, and cost-effective storage infrastructure in the region. The growing number of SMEs in several industries in the region is also likely to have a favorable impact on the regional market.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Next Generation Data Storage Technology Market report scope
CAGR of 8.5% during forecast period.
Cloud-Based Disaster Recovery, All-Flash Storage Arrays, Hybrid Array, Holographic Data Storage, Heat Assisted Magnetic Recording (HAMR)
Enterprise, Personal, Government Organization
Dell EMC, IBM, HP, Western Digital, Toshiba, Seagate, Kingston, Sandisk, Micron Technology, Nutanix, NetApp, Quantum, Hitachi, Drobo, Avago Technologies, SimpliVity, Tintri
Regions and Countries Covered
2017 to 2022
2023 to 2030
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Next Generation Data Storage Technology market?
Who are the key vendors of the global Next Generation Data Storage Technology market?
What are the leading key industries of the global Next Generation Data Storage Technology market?
Which factors are responsible for driving the global Next Generation Data Storage Technology market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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