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The Worldwide Market for Next-Generation Data Storage: Outlook to 2024 - SSD to Lead Growth by Storage Medium - ResearchAndMarkets.com

April 11, 2019

DUBLIN--(BUSINESS WIRE)--Apr 11, 2019--The “Next-Generation Data Storage Market by Storage System (Direct-Attached, Network-Attached, Storage Area Network), Storage Architecture (File- & Object-Based, Block), Storage Medium (SSD, HDD, Tape), & End User - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The next-generation data storage market is estimated to grow from USD 56.8 billion by 2019 to USD 102.2 billion by 2024 at a CAGR of 12.48%.

The major drivers for this market include the massive growth in digital data volume; proliferated use of smartphones, laptops, and tablets; growth of the IoT market; and increasing penetration of high-end cloud computing. However, the breach in data security in cloud and server-based services, and less structured data are the major restraints for the growth of the next-generation data storage market.

Market for SSD to grow at highest CAGR during forecast period

SSD is expected to hold the largest share of the next-generation data storage market by 2024. The rapidly growing volumes of data being generated from various users are raising the storage demand on data-centers. In addition to the connected users, machines such as autonomous cars and connected planes generate a greater volume of content; this is also leading to the increased demand for storage capacity. In the past few years, SSD capacities have surpassed HDD capacities. Moreover, the price of SSDs has also declined to a great extent in these years, which has increased their adoption in various industries.

Enterprises to hold the largest share of next-generation data storage market by 2024

Enterprises are expected to hold the largest share of the next-generation data storage market by 2024. The increased data transfer speeds offered by the advanced data storage devices help the companies manage heavy workloads with high reliability and efficiency. With the rise in Big Data and IoT, enterprise data-centers are growing rapidly to process and store more information; this is contributing to the next-generation data storage market.

RoW to record highest CAGR in the market during forecast period

RoW is expected to register the highest CAGR in the next-generation data storage market during the forecast period. The increase in the demand for smartphones and smart devices, as a result of the introduction of IoT, along with massive development in social media channels has raised the need for storage in this region.

Several countries - including the UAE, Bahrain, and Qatar - are leading the digital consumer space in the region, with high smartphone adoption rates and social media usage. Moreover, the biggest oil companies in the Gulf Cooperation Council (GCC) are discovering ways to make its oilfields smarter by digitizing operations with the help of Big Data and analytics, sensors, and control systems.

Key Topics Covered

1 Introduction

1.1 Study Objectives

1.2 Definition

1.3 Study Scope

1.3.1 Markets Covered

1.3.2 Years Considered

1.4 Currency

1.5 Limitations

1.6 Stakeholders

2 Research Methodology

2.1 Research Data

2.1.1 Secondary and Primary Research

2.1.1.1 Key Industry Insights

2.1.2 Secondary Data

2.1.2.1 List of Major Secondary Sources

2.1.2.2 Key Data From Secondary Sources

2.1.3 Primary Data

2.1.3.1 Breakdown of Primaries

2.1.3.2 Key Data From Primary Sources

2.2 Market Size Estimation

2.2.1 Bottom-Up Approach

2.2.2 Top-Down Approach

2.3 Market Breakdown and Data Triangulation

2.4 Research Assumptions

3 Executive Summary

4 Premium Insights

4.1 Next-Generation Data Storage Market Opportunities

4.2 Next-Generation Data Storage Market in North America, By Country and End User

4.3 Next-Generation Data Storage Market, By Storage System

4.4 Next-Generation Data Storage Market, By Storage Architecture

4.5 Next-Generation Data Storage Market, By Storage Medium

4.6 Next-Generation Data Storage Market, By End User

4.7 Next-Generation Data Storage Market, By Geography

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Massive Growth in Digital Data Volumes

5.2.1.2 Proliferated Use of Smartphones, Laptops, and Tablets

5.2.1.3 Growth of IoT Market

5.2.1.4 Increasing Penetration of High-End Cloud Computing

5.2.2 Restraints

5.2.2.1 Breach in Data Security in Cloud and Server-Based Services

5.2.2.2 Less Structured Data

5.2.3 Opportunities

5.2.3.1 Increased Need for Data Analytics

5.2.3.2 Growing Adoption of Cloud Storage & Solid-State Drives

5.2.4 Challenges

5.2.4.1 Delivering Robust and High-Speed Data Storage

5.2.4.2 High Cost Associated With Cloud Storage

6 Industry Trends

6.1 Introduction

6.2 Value Chain Analysis

6.3 Advantages of Next-Generation Data Storage Over Traditional Data Storage

6.4 Industry Trends

7 Next-Generation Data Storage Market, By Storage System

7.1 Introduction

7.2 Direct-Attached Storage

7.2.1 Direct-Attached Storage is the Oldest and Convenient Data Storage Systems

7.3 Network-Attached Storage

7.3.1 Network-Attached Storage to Grow at the Highest Rate

7.4 Storage Area Network

7.4.1 Storage Area Network Held Largest Share of Next-Generation Data Storage Market in 2018

8 Next-Generation Data Storage Market, By Storage Architecture

8.1 Introduction

8.2 File- and Object-Based Storage

8.2.1 File Storage

8.2.1.1 File-Level Storage is Usually Used in NAS Devices as It Offers Comparatively More Storage Space

8.2.2 Object Storage

8.2.2.1 Object Storage is A Preferred Option By the Cloud Storage Providers Due to Its Massive Scalability and Shared Tenancy Features

8.3 Block Storage

8.3.1 Each Block is Controlled and Formatted on an Individual Basis, as Per the Need, By Server-Based Operating Systems in Block Storage

9 Next-Generation Data Storage Market, By Storage Medium

9.1 Introduction

9.2 Hard Disk Drive

9.2.1 Hard Disk Drive Provides High Storage Capacities at Affordable Prices

9.3 Solid-State Drive

9.3.1 Solid-State Drive to Hold the Largest Share of Next-Generation Data Storage Market in 2024

9.4 Tape

9.4.1 Tape Offers for Long-Term Data Retention

10 Next-Generation Data Storage Market, By End User

10.1 Introduction

10.2 Enterprises

10.2.1 BFSI

10.2.1.1 BFSI Held Largest Share of the Next-Generation Data Storage Market

10.2.2 Consumer Goods

10.2.2.1 Consumer Goods Sector Witnessed the High Adoption of Cloud Storage

10.2.3 Retail

10.2.3.1 Advent of Online Retailers is Boosting the Next-Generation Data Storage Market

10.2.4 Healthcare

10.2.4.1 High-Powered Analytics, Distant Data Sharing, Advanced Medical Research, and Telemedicine Capabilities are Driving the Market for the Healthcare Industry

10.2.5 Media and Entertainment

10.2.5.1 Implementation of Next-Generation Data Storage Systems Enables Efficient Content Management in Media and Entertainment Industry

10.2.6 Manufacturing

10.2.6.1 Advanced and Flexible Storage Solutions Help Manufactures Work Efficiently With the Available Data

10.2.7 Others

10.2.7.1 Next-Generation Data Storage Products are Designed to Handle Major Security Challenges in Industries Such as Aerospace & Defense and Energy

10.3 Government Bodies

10.3.1 Government Bodies Worldwide Have Adopted Digitization and Data Analytics Technologies to Improve Their Strategic Planning

10.4 Telecom Companies

10.4.1 Data Science and Big Data Analytics are the Major Emerging Opportunities in the Telecom Sector

10.5 Cloud Service Providers

10.5.1 Cloud Storage Solutions Offer Enterprises the Flexibility to Scale Up Or Scale Down the Storage Capacity, Depending on the Business Requirements

11 Geographic Analysis

11.1 Introduction

11.2 North America

11.2.1 US

11.2.1.1 US Held Largest Market Size in North American Next-Generation Data Storage Market

11.2.2 Canada

11.2.2.1 Next-Generation Data Storage Solutions are Adopted in Canada to Address Effective Data Management

11.2.3 Mexico

11.2.3.1 Mexico is Expected to Witness the Highest Growth Rate in the North American Next-Generation Data Storage Market

11.3 Europe

11.3.1 UK

11.3.1.1 UK Held Largest Share of the European Next-Generation Data Storage Market

11.3.2 Germany

11.3.2.1 Connected Cars Would Generate an Enormous Amount of Data and Boost the Demand for Next-Generation Data Storage Solutions

11.3.3 France

11.3.3.1 France Shows Increasing Demand for Data Storage Across Various Industries Such as Online Retail, Food Processing, and Media and Entertainment

11.3.4 Rest of Europe

11.4 Asia Pacific

11.4.1 China

11.4.1.1 China Held Largest Share of Next-Generation Data Storage Market in APAC

11.4.2 Japan

11.4.2.1 Growing SMEs are Primarily Driving the Next-Generation Data Storage Market in Japan

11.4.3 India

11.4.3.1 Big Data, IoT, and Other Digital and Virtualized Platforms in India is Driving the Next-Generation Data Storage Market

11.4.4 South Korea

11.4.4.1 Growing IoT and Big Data Analytics is Driving the Growth of Next-Generation Data Storage Market in South Korea

11.4.5 Rest of APAC

11.4.5.1 High Demand for Datacenters Will Drive the Next-Generation Data Storage Market in the Rest of APAC

11.5 Rest of the World

11.5.1 Middle East and Africa

11.5.1.1 UAE is an Established Market for Storage Products in Middle East and Africa

11.5.2 South America

11.5.2.1 Mobile Industry and Datacenters are Driving the Growth of Advanced Data Storage Systems in South America

12 Competitive Landscape

12.1 Overview

12.2 Market Ranking Analysis: Next-Generation Data Storage Market, 2018

12.3 Competitive Leadership Mapping, 2018

12.3.1 Visionary Leaders

12.3.2 Innovators

12.3.3 Dynamic Differentiators

12.3.4 Emerging Companies

12.4 Competitive Situations and Trends

12.4.1 Product Launches and Developments

12.4.2 Partnerships and Collaborations

12.4.3 Acquisitions

12.4.4 Agreements

13 Company Profiles

13.1 Key Players

13.1.1 Dell

13.1.2 Hewlett Packard Enterprise (HPE) Company

13.1.3 IBM

13.1.4 Netapp

13.1.5 Hitachi

13.1.6 Toshiba

13.1.7 Pure Storage

13.1.8 Nutanix

13.1.9 Scality

13.1.10 Micron Technology

13.2 Other Key Players

13.2.1 Tintri

13.2.2 Cloudian

13.2.3 Drobo

13.2.4 Quantum

13.2.5 Western Digital

13.2.6 Samsung

13.2.7 Fujitsu

13.2.8 Vmware

13.2.9 Nexenta Systems

13.2.10 Netgear

13.2.11 Inspur

For more information about this report visit https://www.researchandmarkets.com/r/1ws62t

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Related Topics:Data Storage and Management

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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT

SOURCE: Research and Markets

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PUB: 04/11/2019 09:30 AM/DISC: 04/11/2019 09:30 AM

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