Next-generation Data Storage Market

Next-generation Data Storage Market by Types (Cloud-based, Hybrid, and On-premise), Technologies (Hybrid Flash Array, Magnetic Storage, and Solid State Drive), End-users (Business [Cloud Service Providers, Government Bodies, Retail, Telecom Companies, Healthcare, BFSI, and Others] and Home), Techniques (Network-attached Storage, Storage Area Network, Direct-attached Storage, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-2836
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 184
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The global next-generation data storage market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing usage of internet of things technology in the industries, such as BFSI, healthcare, and retail.


Next-generation Data Storage Market key takeaways

Next-generation data storage is referred as advanced data storage solutions and products to deal with massive amount of unstructured data and growing file sizes. This technology based products manage large amount of data securely and assist in fast recovery, secure, and reliable data management in a cost-efficient manner. It offers many advantages like fast operational speed, fewer turnaround, low noise, longer life, and low heat production. This technology of data storage has emerged as an important technology because everything used today generates data. Next-generation data storage technology has extensive application in supporting data storage in varied industry verticals, such as automobile, data centers, information technology, and network communication. Next-generation storage technologies are also used to retrieve and save data more capably.

The COVID-19 pandemic outbreak had considerable impact on the market. During pandemic, small & medium sized enterprises were temporarily shut down and manufacturing plants halted their operations, which hampered the market. However, adoption of work from home policy by organizations and government bodies resulted in increased demand of next-generation data storage technologies to support remote working, online education, business, and in healthcare sector for storage of patient’s data.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising implementation of cloud computing by industry verticals is one of the key factor driving the market growth.
  • Increasing volume of data through digital platforms in industries including, retail and BFSI is projected to drive the market expansion during the forecast period.
  • Lack of skilled workforce for handling and maintenance of next-generation data storage technologies acts as a major challenge that can restrict the market growth in the coming years.
  • Escalating requirements such as high speed internet for these technologies can hamper the market growth during the projected timeline.
  • Growing customer demand of effective data analytics tools with data storage technologies is projected to create significant growth opportunities for the market.

Scope of the Report

The report on the global next-generation data storage market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Next-generation Data Storage Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Cloud-based, Hybrid, and On-premise), Technologies (Hybrid Flash Array, Magnetic Storage, and Solid State Drive), End-users (Business [Cloud Service Providers, Government Bodies, Retail, Telecom Companies, Healthcare, BFSI, and Others] and Home), and Techniques (Network-attached Storage, Storage Area Network, Direct-attached Storage, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Dell Inc.; Hitachi, Ltd.; Hewlett Packard Enterprise Company; NetApp, Inc.; International Business Machines Corp.; Netgear Inc.; Inspur Group; and Micron Technology, Inc.

 

Market Segment Insights

Cost effectiveness nature drive the on-premise segment

Based on types, the global next-generation data storage market is fragmented into cloud-based, hybrid, and on-premise. The on-premise segment is expected to grow at a rapid pace during the forecast period attributed to its cost effectiveness nature, backup & recover capability, and best suitable for small & medium sized enterprises in low cost. However, the hybrid segment is anticipated to expand at a substantial CAGR in the coming years due to the hybrid solution help companies in management of large volumes of both structured and unstructured data.


Next-generation Data Storage Market by types

Hybrid flash array segment is projected to expand at considerable CAGR

In terms of technologies, the market is divided into hybrid flash array, magnetic storage, and solid state drive (SSD). The SSD segment is expected to account for a major market share during the projected timeline owing to storage using electronic chips instead of magnetic strips and safer data encryption. Moreover, SSD have several benefits such as, low power consumption, extended lifespan, high operational speed, and low noise & heat production, which presents a major factor driving the segment. On the other hand, the hybrid flash array segment is projected to expand at a considerable CAGR during the forecast period due to increasing demand for performance and efficiency across complex enterprise applications, such as artificial intelligence, big data, and Internet of Things technologies.


Next-generation Data Storage Market by technologies

Rising adoption of data storage device increases the business segment market share

On the basis of end-users, the global next-generation data storage market is bifurcated into business and home. The business segment is further segregated into cloud service providers, government bodies, retail, telecom companies, healthcare, BFSI, and others. The business segment is estimated to account for a significant market share during the forecast period attributed to rising adoption of data storage device. Additionally, shift of business sector from traditional storage technologies to technological advanced, secure, and cost effective data storage technologies is major driver of the segment.

NAS segment is expected to expand at robust growth rate

Based on techniques, the market is segmented into network-attached storage (NAS), storage area network, direct-attached storage (DAS), and others. The NAS segment is estimated to expand at robust growth rate during the forecast period owing to low cost, simple, and basic architecture of DAS enables a many information accessibility features. On the other hand, the DAS segment is projected to expand a considerable CAGR during the forecast period attributed to the benefits of DAS including, economical pricing, automated data backup, and more storage space. Furthermore, DAS allows retrieving data from a single connected device for multiple users via an authenticated network, which is projected to accelerate the segment growth further.

North America is anticipated to constitute a key market share

In terms of region, the global next-generation data storage market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to rising need for secure and economic solutions for storing data and large volume of unstructured data generation across industry verticals in the region. However, the Asia Pacific market is anticipated to grow at a rapid pace during the forecast period due to the growing consumer awareness regarding data management, rapid increase in the number of smartphones and laptop users, and growth of small & medium sized enterprises in the region.

Segments

Segments Covered in the Report
The global next-generation data storage market has been segmented on the basis of

Types

  • Cloud-based
  • Hybrid
  • On-premise
Technologies
  • Hybrid Flash Array
  • Magnetic Storage
  • Solid State Drive
End-users
  • Business
    • Cloud Service Providers
    • Government Bodies
    • Retail
    • Telecom Companies
    • Healthcare
    • BFSI
    • Others
  • Home
Techniques
  • Network-attached Storage
  • Storage Area Network
  • Direct-attached Storage
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Dell Inc.
  • Hitachi, Ltd.
  • Hewlett Packard Enterprise Company
  • NetApp, Inc.
  • International Business Machines Corp.
  • Netgear Inc.
  • Inspur Group
  • Micron Technology, Inc.

Competitive Landscape

Key players competing in the global next-generation data storage market are Dell Inc.; Hitachi, Ltd.; Hewlett Packard Enterprise Company; NetApp, Inc.; International Business Machines Corp.; Netgear Inc.; Inspur Group; and Micron Technology, Inc.

Companies are focusing on investment in R&D for technological transformation of data storage devices for the market. Furthermore, companies are widely engaging in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers. For instance, in June 2019, Dell EMC. announced its forthcoming mid-range storage device, Midrange.next. The new device is to be a new ground-up software design with up to 16TB capacity. This is designed to leverage the best of modern storage technology.

Next-generation Data Storage Market by key players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Next-generation Data Storage Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Next-generation Data Storage Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Next-generation Data Storage Market - Supply Chain
  4.5. Global Next-generation Data Storage Market Forecast
     4.5.1. Next-generation Data Storage Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Next-generation Data Storage Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Next-generation Data Storage Market Absolute $ Opportunity
5. Global Next-generation Data Storage Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Next-generation Data Storage Market Size and Volume Forecast by Types
     5.3.1. Cloud-based
     5.3.2. Hybrid
     5.3.3. On-premise
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Next-generation Data Storage Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Next-generation Data Storage Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Next-generation Data Storage Demand Share Forecast, 2019-2026
7. North America Next-generation Data Storage Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Next-generation Data Storage Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Next-generation Data Storage Market Size and Volume Forecast by Types
     7.4.1. Cloud-based
     7.4.2. Hybrid
     7.4.3. On-premise
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Next-generation Data Storage Demand Share Forecast, 2019-2026
8. Latin America Next-generation Data Storage Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Next-generation Data Storage Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Next-generation Data Storage Market Size and Volume Forecast by Types
     8.4.1. Cloud-based
     8.4.2. Hybrid
     8.4.3. On-premise
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Next-generation Data Storage Demand Share Forecast, 2019-2026
9. Europe Next-generation Data Storage Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Next-generation Data Storage Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Next-generation Data Storage Market Size and Volume Forecast by Types
     9.4.1. Cloud-based
     9.4.2. Hybrid
     9.4.3. On-premise
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Next-generation Data Storage Demand Share Forecast, 2019-2026
10. Asia Pacific Next-generation Data Storage Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Next-generation Data Storage Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Next-generation Data Storage Market Size and Volume Forecast by Types
     10.4.1. Cloud-based
     10.4.2. Hybrid
     10.4.3. On-premise
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Next-generation Data Storage Demand Share Forecast, 2019-2026
11. Middle East & Africa Next-generation Data Storage Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Next-generation Data Storage Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Next-generation Data Storage Market Size and Volume Forecast by Types
     11.4.1. Cloud-based
     11.4.2. Hybrid
     11.4.3. On-premise
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Next-generation Data Storage Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Next-generation Data Storage Market: Market Share Analysis
  12.2. Next-generation Data Storage Distributors and Customers
  12.3. Next-generation Data Storage Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Dell Inc.
     12.4.2. Hitachi, Ltd.
     12.4.3. Hewlett Packard Enterprise Company
     12.4.4. NetApp, Inc.
     12.4.5. International Business Machines Corp.
     12.4.6. Netgear Inc.
     12.4.7. Inspur Group

Segments Covered in the Report
The global next-generation data storage market has been segmented on the basis of

Types

  • Cloud-based
  • Hybrid
  • On-premise
Technologies
  • Hybrid Flash Array
  • Magnetic Storage
  • Solid State Drive
End-users
  • Business
    • Cloud Service Providers
    • Government Bodies
    • Retail
    • Telecom Companies
    • Healthcare
    • BFSI
    • Others
  • Home
Techniques
  • Network-attached Storage
  • Storage Area Network
  • Direct-attached Storage
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Dell Inc.
  • Hitachi, Ltd.
  • Hewlett Packard Enterprise Company
  • NetApp, Inc.
  • International Business Machines Corp.
  • Netgear Inc.
  • Inspur Group
  • Micron Technology, Inc.

Key players competing in the global next-generation data storage market are Dell Inc.; Hitachi, Ltd.; Hewlett Packard Enterprise Company; NetApp, Inc.; International Business Machines Corp.; Netgear Inc.; Inspur Group; and Micron Technology, Inc.

Companies are focusing on investment in R&D for technological transformation of data storage devices for the market. Furthermore, companies are widely engaging in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquiring new buyers. For instance, in June 2019, Dell EMC. announced its forthcoming mid-range storage device, Midrange.next. The new device is to be a new ground-up software design with up to 16TB capacity. This is designed to leverage the best of modern storage technology.

Next-generation Data Storage Market by key players

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