Next-generation Storage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Next-generation Storage Market is Segmented by Storage System (Direct Attached Storage (DAS), Network Attached Storage (NAS), Storage Area Network (SAN)), Storage Architecture (File and Object-based Storage (FOBS), Block Storage), End User Industry (BFSI, Retail, IT and Telecom, Healthcare, Media and Entertainment), and Geography.

Market Snapshot

Next-generation Storage Market
Study Period: 2020-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 11.7 %

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Market Overview

The next-generation storage market is expected to grow at a CAGR of 11.7% over the forecast period. With the sizeable and exponential growth in the digital world, there has been an accelerating development in the field of cloud computing, Big Data, mobile services, and social networking applications. Next-generation storage technology deals with an advanced portfolio of products and solutions, which help store data across various end-user industries, including IT firms, automotive companies, and data centres. With the increasing file sizes and a massive amount of big and unstructured data, IT companies face plenty of problems while dealing with data management.

  • Conventional data storage technologies cannot handle a large amount of everyday data. The next-generation data storage infrastructure offers a reliable, faster, and cost-effective solution to meet the growing data storage demands.
  • Further, the next-generation storage technology market is moving into the information technology sector, with an extensive range of applications across Big Data storage, enterprise data storage, and other cloud-based services. Storage and how it is addressed can significantly impact the top and bottom lines. There is expected to be a higher willingness of IT organizations to move from making a safe storage investment to investing in new technologies that can benefit the business.
  • In November 2021, DDN, the provider of artificial intelligence (AI) and multi-cloud data management solutions, announced the availability of its next generation of NVMe platforms, the SFA 400NVX2 and 200NVX2. These Storage Fusion Architecture systems are the foundation of DDN’s accelerated storage portfolio. They are available as EXAScaler solutions – ES400NVX2 and ES200NVX2 – and the recently announced AI400X2 appliances for enterprise AI deployments.
  • However, there are many security issues associated with cloud-based storage, such as misconfiguration, insufficient data governance, and poor access controls, among others. Such cloud storage security issues that can expose enterprise data to unauthorized parties can act as a restraint on market growth.
  • The COVID-19 pandemic outbreak has positively impacted the market for next-generation storage, especially solutions that are used in cloud storage. Storage vendors are making some of their hardware and software technology available for no charge to help researchers, businesses, work-from-home users, and partners run their businesses and work remotely during the COVID-19 coronavirus pandemic.

Scope of the Report

Next generation data storage includes advanced data storage products and solutions to deal with growing file sizes and massive amount of unstructured data. The next generation data storage technology products manage large data securely and enable secure, reliable, and fast recovery of data in a cost-efficient manner. End-user Industries, such as BFSI, healthcare, and IT and telecom, are in the need of next generation storage devices, owing to massive volume of data generated in their businesses.

Storage System
Direct Attached Storage (DAS)
Network Attached Storage (NAS)
Storage Area Network (SAN)
Storage Architecture
File and Object-based Storage (FOBS)
Block Storage
End User Industry
BFSI
Retail
IT and Telecom
Healthcare
Media and Entertainment
Other End-user Industries
Geography
North America
Europe
Asia Pacific
Rest of the World

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Key Market Trends

Direct Attached Storage (DAS) to Witness Significant Growth

  • Direct Attached Storage (DAS) is the oldest and most conventional data storage system connected directly to a computer, such as a server or PC, unlike other storage systems connected to a computer over a network.
  • DAS offers specific benefits compared to other storage systems that play an essential role in many organizations' storage strategies: high performance, easiness during the setup and configuration, fast access to data, and low cost.
  • Generally, DAS offers high storage performance to the computer system it is directly attached to, owing to the advantage of fast computer bus interfaces, such as SAS and SATA, and the close location of data to the system's RAM and processor.
  • Recently, in May 2022, TerraMaster launched a new 8-bay direct-attached storage (DAS) device for customers who need a central location to store a lot of data. Unlike NAS, DAS is used locally through the use of cables that directly connect to a PC or other device. The new TerraMaster D8-332 is professional RAID storage with a capacity of up to 160TB.
  • One common application of DAS is in data centres. Applications such as web hosting use DAS, where customers want their own private storage devices connected to their dedicated server. DAS is also commonly utilized in data centres as storage used for booting the operating systems and/or hypervisors.
Next-generation Storage Market

North America Occupies the Largest Market Share

  • The next-generation storage market is showing signs of growth in the United States, owing to the regional concentration of global vendors and consumers in the country.
  • The United States remains one of the top markets for data centres globally. Also, in April 2022, Google announced plans to invest USD 9.5 billion in data centres and offices across the country. The tech giant will be building or expanding 14 data centres in the US states like Georgia, Texas, New York, and California, among others. Such increasing investments in data centres are also creating considerable growth opportunities for the market.
  • Moreover, the data-heavy Internet of Things (IoT) devices constitute another emerging market for next-generation storage. These applications primarily cover a wide range. Industrial automation in the form of Factory 4.0 is one segment. Still, the IoT also includes wearables, healthcare, aviation, plus about anything that begins with smart, such as smart homes, smart farms, smart metering, and smart logistics, among others.
  • According to a study at Stanford University and Avast, North American homes have the highest density of IoT devices worldwide. Notably, 66% of homes in the region have at least one IoT device. Additionally, 25% of North American homes have more than two devices.
  • Further, the growing internet traffic and user-generated data are contributing to the growth of the market, and the North American region observes the highest amount of IP traffic globally. According to CISCO, the region's IP traffic will reach 108.4 EB per month by 2022.
Next-generation Storage Market

Competitive Landscape

The next-generation storage market is moderately competitive and consists of some major players. In terms of market share, few of the key players currently dominate the market. However, with innovation in memory packaging technology, many companies are increasing their market presence across untapped new markets of emerging economies.

  • October 2021 - Dell Technologies announced new additions to its Dell EMC PowerScale portfolio. PowerScale is the company’s integrated network-attached storage (NAS) solution for AI-based initiatives, from proof of concept to deployment.
  • April 2021 - IBM announced plans to launch a new container-native software-defined storage (SDS) solution, IBM Spectrum Fusion, in the second half of 2021. The solution was expected to be designed to fuse IBM's general parallel file system technology and its data protection software to give businesses and their applications a simple and less complex approach to accessing data seamlessly within the data centre, at the edge and across hybrid cloud environments.

Major Players

  1. Dell Inc.

  2. Hewlett Packard Enterprise Company

  3. NetApp Inc.

  4. Hitachi Ltd

  5. IBM Corporation

market concentration-storage use.png

Recent Development

  • May 2022 - NetApp and Kyndryl formed a partnership to accelerate digital transformation for customers. The companies intend to co-design advanced storage infrastructure-as-a-service solutions to provide customers greater flexibility, versatility and value from the use of unstructured information and help companies derive business value from their data.
  • May 2021 - Hewlett Packard Enterprise announced innovations transforming HPE Storage into a cloud-native, software-defined data services business. The company unveiled a data services platform that delivers on its Unified DataOps vision for a new data experience that brings a cloud operations model to wherever data lives and unifies data operations.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Assessment of COVID-19 Impact on the Industry

    4. 4.4 Technology Snapshot

      1. 4.4.1 Magnetic Storage

      2. 4.4.2 Solid State Storage

      3. 4.4.3 Software Defined Storage (SDS)

      4. 4.4.4 Cloud Storage

      5. 4.4.5 Unified Storage

      6. 4.4.6 Other Storage Technologies

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Volume of Digital Data

      2. 5.1.2 Rising Adoption of Solid-state Devices

      3. 5.1.3 Increasing Proliferation of Smartphones, Laptops, and Tablets

    2. 5.2 Market Restraints

      1. 5.2.1 Lack of Data Security in Cloud- and Server-based Services

  6. 6. MARKET SEGMENTATION

    1. 6.1 Storage System

      1. 6.1.1 Direct Attached Storage (DAS)

      2. 6.1.2 Network Attached Storage (NAS)

      3. 6.1.3 Storage Area Network (SAN)

    2. 6.2 Storage Architecture

      1. 6.2.1 File and Object-based Storage (FOBS)

      2. 6.2.2 Block Storage

    3. 6.3 End User Industry

      1. 6.3.1 BFSI

      2. 6.3.2 Retail

      3. 6.3.3 IT and Telecom

      4. 6.3.4 Healthcare

      5. 6.3.5 Media and Entertainment

      6. 6.3.6 Other End-user Industries

    4. 6.4 Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia Pacific

      4. 6.4.4 Rest of the World

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles*

      1. 7.1.1 Dell Inc.

      2. 7.1.2 Hewlett Packard Enterprise Company

      3. 7.1.3 NetApp Inc.

      4. 7.1.4 Hitachi Ltd

      5. 7.1.5 IBM Corporation

      6. 7.1.6 Toshiba Corp.

      7. 7.1.7 Pure Storage Inc.

      8. 7.1.8 DataDirect Networks.

      9. 7.1.9 Scality Inc.

      10. 7.1.10 Fujitsu Ltd.

      11. 7.1.11 Netgear Inc.

  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

**Subject to Availability
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Frequently Asked Questions

The Next-generation Storage Market market is studied from 2020 - 2027.

The Next-generation Storage Market is growing at a CAGR of 11.7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Dell Inc., Hewlett Packard Enterprise Company, NetApp Inc., Hitachi Ltd, IBM Corporation are the major companies operating in Next-generation Storage Market.

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