The Next-generation Storage Market is Segmented by Storage System (Direct Attached, Network Attached, Storage Area Network), Storage Architecture (File and Object-based, Block), End user Industry (BFSI, Retail, IT and Telecom, Healthcare, Media and Entertainment), and Geography.
ABOUT THIS REPORT
Scope of the Report
Key Market Trends
TABLE OF CONTENTS
Fastest Growing Market:
Need a report that reflects how COVID-19 has impacted this market and its growth?
The next-generation storage market was valued at USD 24.01 billion in 2019 and is expected to reach a value of USD 45.45 billion by 2025, registering a CAGR of 11.4%, during the forecast period (2020 - 2025). 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.
The conventional data storage technologies are not able to handle a large amount of everyday data. The next-generation data storage infrastructure offers a reliable, faster, and cost-effective solution to meet the demands of growing data storage.
Next-generation data storage has emerged as an essential technology because everything used today generates data. For instance, wearable electronics, games, movies, advertisements, i.e., almost all generate data. Next-generation storage technologies are used to save and retrieve data more efficiently.
Growth in smart technologies and cloud computing is one of the major factors of smart storage space. A large amount of data generated needs to be easily accessible and analyzed to enhance user experience. These intelligent storage solutions help facilitate reliable, secure, and scalable solutions.
For instance, according to the study published by CenturyLink, a telecommunications company, cloud computing is expected to generate a revenue of USD 411 billion by 2020. According to the RightScale2018 State of the Cloud Survey Report, 81% of enterprises have a multi-cloud strategy, and enterprises with a hybrid strategy accounted to 51% in 2018, while organizations with a strategy of multiple public or multiple private clouds grew slightly.
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.
Direct Attached Storage (DAS)
Network Attached Storage (NAS)
Storage Area Network (SAN)
File and Object-based Storage (FOBS)
End User Industry
IT and Telecom
Media and Entertainment
Other End-user Industries
Rest of the World
Report scope can be customized per your requirements. Click here.
Key Market Trends
Direct Attached Storage (DAS) to Witness Significant Growth
Due to the increased internet usage large amount of data is produced which is to be stored safely .
Direct-Attached Storage (DAS) is the oldest and conventional data storage system that is connected directly to a computer, such as a server or PC, unlike other storage systems that are connected to a computer over a network.
DAS offers specific benefits compared to other storage systems that play an important role in many organizations' storage strategy that include 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 due to the close location of data to the system's RAM and processor.
Owing to the low cost of DAS compared to SAN or NAS, small- and medium-sized businesses (SMBs) are opting for these systems as a practical storage choice as they can simply purchase new drives, plug them into a server, and potentially increase their storage capacity by as much as several terabytes.
Owing to the high scalability, this storage resource is slowly gaining renewed attention as emerging technologies offer easy ways to pool and share the data. For instance, in 2019, Clouderahas partnered with Dell EMC to get Isiloncertified through it's Quality Assurance Test Suite (QATS) with an emphasis to develop joint reference architecture and solutions around HadoopTiered Storage. This partnership is expected to enable its customers to use DAS for hot data and Isilon for raw data within the same logical Hadoopcluster to simultaneously deliver extreme performance and economic scaling.
To understand key trends, Download Sample Report
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 number of hyperscaledata centers, which are majorly used by cloud companies and social network providers, has increased globally and the United States leads with 1,444 data centers and 180 service providers, according to datacenters.com.
The companies with highest total data center footprint in the country include Amazon, Microsoft, Google, and IBM. Recently, Google announced that it is going to invest USD 13 billion in US data centers and offices during fiscal 2019.
As per the CBRE report, the total capacity of the U.S. primary data center market grew by 200 megawatts (MW) or 8% in 2019. Regions like Atlanta, Chicago, Dallas/Ft. Worth, New York Tri-State, Northern Virginia, Phoenix, and Silicon Valley accounts for the largest share of the data center in the USA. For instance, Digital Realty manages over 145 sites across the globe, and located in Chicago on the East Cermak is of the largest data centers.
Almost two-thirds of data centers in the United States experience higher peak demands, with a power density of around 15 or 16 kW per rack, according to Datacenter.com, a data center marketplace. Some data centers are reportedly hitting 20 or more kW per rack. This has made imperative for the users as well as the manufacturers to deploy DCIM that enables them effectively manage and run their data centers.
To understand geography trends, Download Sample Report.
The next-generation storage market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with innovation in the memory packaging technology, many of the companies are increasing their market presence across untapped new markets of the emerging economies.
June 2019 - Dell EMC announced its upcoming mid-range storage refresh, “Midrange.next”. Midrange.next is expected to replace Dell’s mid-range storage line, which includes its Unity platform, the Dell EMC SC series, and Dell’s EqualLogic products. The new architecture is expected to be a new ground-up architecture designed to leverage the best of modern storage technology.
June 2019 - NetApp announced new solutions and services that allows customers to adopt and consume cloud on their own terms. With this announcement, NetApp is delivering a hybrid multicloud experience that includes the availability of NetApp cloud data services on NetApp HCI.