Next Generation Storage Market Size, Share & Industry | 2031

Segments - Next Generation Storage Market by Storage Systems (Network Attached Storage, Direct Attached Storage, and Storage Area Network), Storage Architecture (Block Storage and File and Object-based Storage), End-users (Retail, Healthcare, BFSI, Media and Entertainment, IT and Telecom, 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

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global next generation storage market size was valued at USD 53.9 billion and is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growth in digital data volume and rising penetration of high-end cloud computing. The increasing demand for storing and managing high volumes of data generated every day.

Next Generation Storage Market Key Takeaways

Next generation storage is a state of the art technology that fulfills the increasing need for improved data storage and management around various industries. It stores the data of all the organizations and determines the usage of data and its management. Proliferated use of laptops, tablets, and Smartphone’s is projected to boost the market.
The mobile phones, games, advertisement, smart battery, wearable electronics, and others creates large amount of data. Therefore, next generation storage system offers storage and fat recovery of data in an efficient way. The covid-19 has impacted the business activities across the world. The enterprise sector has seen a major loss in terms of production due to lockdown imposed by government. There is slightly decline in the next generation data storage market due to covid-19.

Market Trends, Drivers, Restraints, and Opportunities

Rising input-output devices is anticipated to spur the market growth during the forecast period.
Growing consumer demand for effective data analytics is major factor propelling the market expansion.
Rapid growth of e-commerce industry and digitization of day-to-day activities is expected to drive the market growth in the coming years.
Lack of security in cloud and server based services act as main challenge that can restrict the market expansion.
R&D investment and technological advancement to fulfill consumer needs is estimated to create lucrative opportunities for the market players.

Scope of the Report

The report on the global next generation 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 Storage Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Storage Systems (Network Attached Storage, Direct Attached Storage, and Storage Area Network), Storage Architecture (Block Storage and File and Object-based Storage), End-users (Retail, Healthcare, BFSI, Media and Entertainment, IT and Telecom, 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	Pure Storage, Inc.; Quantum Corporation; Toshiba Corporation; Hitachi, Ltd.; Dell Inc.; Tintri Inc.; Netgear Inc.; Scality; NetApp, Inc.; IBM Corporation; Drobo, Inc.; Nutanix, Inc.; Western Digital Corporation; Fujitsu Ltd.; VMware, Inc.; and Inspur

Market Segment Insights:

Direct attached storage segment is projected to account for a large market share
Based on storage system, the global next generation storage market is divided into network attached storage, direct attached storage, and storage area network. The direct attached storage segment is expected to constitute a key share of the market during the forecast period owing to growing use of internet produces high amount of data, which requires storage. However, the storage area network segment is anticipated to expand at a rapid pace during the forecast period due to security for data protection and ability to interconnect the storage devices of various users.

Next Generation Storage Market by Storage Systems

File and object-based storage segment is projected to hold a key market share
On the basis of storage architecture, the market is segmented into block storage and file and object-based storage. The file and object-based storage segment is expected to represent a key share of the market in the coming years due to high usage of file and object-based storage in various enterprises. It helps users to store data in a folder to retrieve, manage, and manipulate data. On the other hand, the block storage segment is anticipated to expand at a rapid pace during the forecast period owing to accessibility of data anytime in future and a single path to retrieve data.

BFSI segment is projected to constitute a major market share
In terms of end-users, the global next generation storage market is segregated into retail, healthcare, BFSI, media and entertainment, IT and telecom, and others. The BFSI segment is expected to account for a key share of the market during the forecast period owing to high usage of online banking and digital payments, which raised the demand for data storage, backup, and security for customer credentials. However, the healthcare segment is anticipated to expand at a rapid pace during the forecast period due to usage of cloud space for storing patient and business information for various services, procedures, and operations.

North America is expected to dominate the market
On the basis of regions, the global next generation storage market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to increasing demand for cost-efficient, reliable, and secure storage infrastructure and rising volume of unstructured data around various industries. On the other hand, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to increasing number of data centers and smart city projects.

Next Generation Storage Market by Regions

Segments

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

Storage Systems

Network Attached Storage
Direct Attached Storage
Storage Area Network

Storage Architecture

Block Storage and File
Object-based Storage

End-users

Retail
Healthcare
BFSI
Media and Entertainment
IT and Telecom
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Pure Storage, Inc.
Quantum Corporation
Toshiba Corporation
Hitachi, Ltd.
Dell Inc.
Tintri Inc.
Netgear Inc.
Scality
NetApp, Inc.
IBM Corporation
Drobo, Inc.
Nutanix, Inc.
Western Digital Corporation
Fujitsu Ltd.
VMware, Inc.
Inspur

Competitive Landscape

Key players competing in the global next generation storage market include Pure Storage, Inc.; Quantum Corporation; Toshiba Corporation; Hitachi, Ltd.; Dell Inc.; Tintri Inc.; Netgear Inc.; Scality; NetApp, Inc.; IBM Corporation; Drobo, Inc.; Nutanix, Inc.; Western Digital Corporation; Fujitsu Ltd.; VMware, Inc.; and Inspur. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

Next Generation Storage Market by Key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Next Generation 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 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 Storage Market - Supply Chain
  4.5. Global Next Generation Storage Market Forecast
     4.5.1. Next Generation Storage Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Next Generation Storage Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Next Generation Storage Market Absolute $ Opportunity
5. Global Next Generation Storage Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Next Generation Storage Market Size and Volume Forecast by End Users
     5.3.1. Retail
     5.3.2. Healthcare
     5.3.3. BFSI
     5.3.4. Media and Entertainment
     5.3.5. IT and Telecom
     5.3.6. Others
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Next Generation 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 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 Storage Demand Share Forecast, 2019-2026
7. North America Next Generation 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 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 Storage Market Size and Volume Forecast by End Users
     7.4.1. Retail
     7.4.2. Healthcare
     7.4.3. BFSI
     7.4.4. Media and Entertainment
     7.4.5. IT and Telecom
     7.4.6. Others
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  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 Storage Demand Share Forecast, 2019-2026
8. Latin America Next Generation 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 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 Storage Market Size and Volume Forecast by End Users
     8.4.1. Retail
     8.4.2. Healthcare
     8.4.3. BFSI
     8.4.4. Media and Entertainment
     8.4.5. IT and Telecom
     8.4.6. Others
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  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 Storage Demand Share Forecast, 2019-2026
9. Europe Next Generation 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 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 Storage Market Size and Volume Forecast by End Users
     9.4.1. Retail
     9.4.2. Healthcare
     9.4.3. BFSI
     9.4.4. Media and Entertainment
     9.4.5. IT and Telecom
     9.4.6. Others
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  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 Storage Demand Share Forecast, 2019-2026
10. Asia Pacific Next Generation 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 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 Storage Market Size and Volume Forecast by End Users
     10.4.1. Retail
     10.4.2. Healthcare
     10.4.3. BFSI
     10.4.4. Media and Entertainment
     10.4.5. IT and Telecom
     10.4.6. Others
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  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 Storage Demand Share Forecast, 2019-2026
11. Middle East & Africa Next Generation 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 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 Storage Market Size and Volume Forecast by End Users
     11.4.1. Retail
     11.4.2. Healthcare
     11.4.3. BFSI
     11.4.4. Media and Entertainment
     11.4.5. IT and Telecom
     11.4.6. Others
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  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 Storage Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Next Generation Storage Market: Market Share Analysis
  12.2. Next Generation Storage Distributors and Customers
  12.3. Next Generation Storage Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Pure Storage, Inc.
     12.4.2. Quantum Corporation
     12.4.3. Toshiba Corporation
     12.4.4. Hitachi, Ltd.
     12.4.5. Dell Inc.
     12.4.6. Tintri Inc.
     12.4.7. Netgear Inc.
     12.4.8. Scality
     12.4.9. NetApp, Inc.
     12.4.10. IBM Corporation
     12.4.11. D