Next-Generation Data Storage Market size worth $ 128.94 Billion, Globally, by 2030 at 8.2% CAGR: Verified Market Research®
Factors favoring the growth of the next-generation storage technology market include the proliferation of input and output technologies across all sectors and the ever-increasing need to manage, analyze and store large amounts of data.
JERSEY CITY, N.J., July 25, 2022 – Verified Market Research recently published a report, ‘Next-Generation Data Storage Market’ By Type (Network-Attached Storage (NAS), Direct-Attached Storage (DAS), By Storage Type (On-Premise, Remote (Cloud), And Hybrid), By End-User (Enterprise Storage, Consumer Electronics, Military and Aerospace), and By Geography. According to Verified Market Research, the Next-Generation Data Storage Market size was valued at USD 58.40 Billion in 2021 and is projected to reach USD 128.94 Billion by 2030, growing at a CAGR of 8.2% from 2022 to 2030.
Global Next-Generation Data Storage Market Overview
Digitization of information in residential and commercial places, followed by an upsurging use of mobile computing devices such as smartphones, laptops, and tablets, is significantly contributing to the global market growth. Additionally, there is a huge increment in the volume of digital information across industry verticals such as healthcare, retail, and BFSI, which leads to the need for effective next-generation data storing devices. Moreover, growth in the global penetration of IoT in industries such as retail, healthcare, and manufacturing and a significant rise in the adoption of cloud computing is driving the global market.
Furthermore, the increasing manufacturing of information from input-output electronic devices employed across a variety of applications in a growing number of industries is a primary factor contributing to the growth of global next-generation data storage. The growing investments for R&D activities for the development of advanced technologies to meet consumer needs have positively anticipated in propelling the growth of the global next-generation data storage market.
There are certain challenges faced that will hinder the overall market growth. The factors such as the dearth of skilled workforce and the absence of standards and protocols are inhibiting the market growth. Also, complex integrated system is a difficult task which confines the growth.
- In June 2019, Dell EMC announced its revision of the central storage, “Midrange. next”. Midrange.next is expected to replace Dell’s mid-range line, which includes its Unity platform, Dell EMC SC series, and Dell’s EqualLogic products. The new building is expected to be a new state-of-the-art facility designed to enhance modern storage technology.
- In June 2019, NetApp announced new solutions and services that allow customers to use and deploy the cloud on their own terms. With this announcement, NetApp brings a multi-cloud multimedia experience that integrates the availability of NetApp cloud data services with NetApp HCI.
The Major Players in the Market are 4ds Memory Limited, Adesto Technologies Corporation., Avalanche Technology, Cypress Semiconductor Corporation., Everspin Technologies Inc., Fujitsu, Ibm Corporation, Microchip Technology Inc., Nantero, Samsung.
Verified Market Research has segmented the Global Next-Generation Data Storage Market On the basis of Type, Storage Type, End-User, and Geography.
- Next-Generation Data Storage Market, By Type
- Network Attached Storage (NAS)
- Direct Attached Storage (DAS)
- Storage Area Network (SAN)
- Next-Generation Data Storage Market, By Storage Type
- Remote (Cloud)
- Next-Generation Data Storage Market, By End-User
- Enterprise Storage
- Consumer Electronics
- Military and Aerospace
- Automotive and Transportation
- Telecommunications, Energy, and Power
- Next-Generation Data Storage Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America