Next-Generation Data Storage Market

Introduction of the Global Next-Generation Data Storage Market Report

Next-Generation Storage is a technologically advanced product and solution portfolio that supports data storage such as managing of large data securely and enabling fast recovery of data in a reliable, secure and cost-efficient manner. Multiple IT companies, automotive industries, data centres, and financial institution use next-generation data storage technology for managing enormous amount of large and unstructured data.

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Market Dynamic

Key Drivers and Emerging Trends

Rapid technological advancements, growth in the IoT market, rising use of mobile computing devices such as laptops, smartphones, tablets and wearable electronics, and the high growth in digital data volume are some of the major factors driving the growth of the next-generation data storage market over the forecast period. In addition, the increasing volume of unstructured data across various industries including BFSI, retail, healthcare, media and entertainment, telecom, and others is further anticipated to augment the demand for secure, reliable, and cost-efficient storage infrastructure, thereby supporting the growth of the next-generation data storage market over the forecast period. Moreover, increasing penetration of high-end cloud computing and increasing adoption of solid-state drives is projected to provide growth opportunities for the next-generation data storage market.

Restraints in the Global Next-Generation Data Storage Market

Breach in data security in cloud and server-based services is one of the major factors that may hamper the growth of the market. Moreover, technological complexity, high cost associated with cloud storage, and the requirement of high-speed internet are further expected to restraint the growth of the next-generation data storage market.

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Storage Architecture – Segment Analysis

Based on storage architecture, the block storage segment is expected to grow at a faster CAGR during the forecast period primarily due to its high speed and low latency. Additionally, ease of file modification and flexible data volume offered by block storage architecture is expected to boost the growth of the market. 

Storage Medium – Segment Analysis

On the basis of the storage medium, the solid-state drive segment is anticipated to account for a high share in the market owing to its several benefits that includes high reliability, energy efficiency, and more secure data storage experiences, and seamless multi-task processing capacity.​ Moreover, increasing penetration of high-end cloud computing and growing adoption of SSDs in data centres is further augmenting the growth of the market.

Storage System – Segment Analysis

On the basis of storage system, storage area networks (SAN) segment is anticipated to grow at prominent CAGR during the forecast period. This can be attributed to its various advantages including centralized storage management, greater fault tolerance, faster backups, better data security, greater scalability, and reliable disaster recovery.

End User – Segment Analysis

On the basis of end-user, the healthcare end user segment is projected to grow a faster CAGR over the forecast period owing to the increasing volume of digital data and the growing adoption of hybrid data storage solutions in healthcare organizations. Additionally, the rapid and easy deployment of cloud storage solutions for storing patient information is anticipated to be a major growth driver for the healthcare segment in the coming years.

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Regional – Segment Analysis:

Based on the Region, the North America is anticipated to dominate the market during the forecast period. This is mainly to the rapid technological advancements and increasing volume of unstructured data across various industries including IT, retail, telecommunication, and banking industries. On the other hand, Asia-Pacific is expected to grow a faster CAGR overt the forecast period owing to the increasing adoption of laptop and smartphone, and growth in the number of small- and medium-sized businesses across India, China, Japan, and South Korea in the region. Furthermore, development of data centers in the region is further expected to augment market growth in the coming years. For instance, in 2020, Web Werks launched its data center that has a potential of encompassing 1800 racks with further expansion possibilities.

Top Market Players

Various notable players operating in the market include Dell, Inc., Hewlett Packard Enterprise Development LP, NetApp, Inc., Hitachi, Ltd., International Business Machines Corporation, Toshiba Corporation, Pure Storage, Inc.

Nutanix, Inc., Micron Technology, Inc., and Inspur International Limited, among others.

Key Developments:

• • In 2020, Dell Inc. announced Dell EMC PowerScale, a new family of storage systems engineered with industry-leading storage software and server hardware. This storage system is expected to set a new industry standard for organizations to capture and capitalize on unstructured data, such as documents, images, videos and social media content.
  • In 2020, Pure Storage Inc. partnered with Google Cloud’s Anthos Ready Storage Initiative for data storage solutions. This partnership with Google Cloud will help customers in modernizing existing applications and build new ones on a simple, scalable, and reliable platform.

Segments covered in the Report:

The global Next-Generation Data Storage market has been segmented on the basis of storage architecture, storage medium, storage system, end user, and regions. Based on storage architecture, the market is segmented into file and object-based storage and block storage. Based on storage medium, the market is segmented into SSD, HDD, and tape. Based on storage system, the market is segmented into direct attached storage, network attached storage, and storage area network. Based on end user, the market is segmented into BFSI, retail, healthcare, media and entertainment, telecom companies, and others. 

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Key questions answered in this research report:

• • At what pace is global Next-Generation Data Storage market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Next-Generation Data Storage market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Next-Generation Data Storage market?
  • Which storage system generated maximum revenues in 2019 and identify the most promising storage system during the forecast period?
  • What are the various end users of global Next-Generation Data Storage market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Storage Architecture, By Storage Medium, By Storage System, By End User, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Dell, Inc., Hewlett Packard Enterprise Development LP, NetApp, Inc., Hitachi, Ltd., International Business Machines Corporation, Toshiba Corporation, Pure Storage, Inc., Nutanix, Inc., Micron Technology, Inc., and Inspur International Limited, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Next-Generation Data Storage Market by Storage Architecture

• • File and Object-based Storage
  • Block Storage

Global Next-Generation Data Storage Market by Storage Medium

• • SSD
  • HDD
  • Tape

Global Next-Generation Data Storage Market by Storage System

• • Direct Attached Storage (DAS)
  • Network Attached Storage (NAS)
  • Storage Area Network (SAN)

Global Next-Generation Data Storage Market by End User

• • BFSI
  • Retail
  • Healthcare
  • Media and Entertainment
  • Telecom
  • Others

Global Next-Generation Data Storage Market by Region

• • North America Next-Generation Data Storage Market (Option 1: As a part of the free 25% customization)
    • North America Next-Generation Data Storage Market by Storage Architecture
    • North America Next-Generation Data Storage Market by Storage Medium
    • North America Next-Generation Data Storage Market by Storage System
    • North America Next-Generation Data Storage Market by End User
    • US Next-Generation Data Storage Market All-Up
    • Canada Next-Generation Data Storage Market All-Up
  • Europe Next-Generation Data Storage Market (Option 2: As a part of the free 25% customization)
    • Europe Next-Generation Data Storage Market by Storage Architecture
    • Europe Next-Generation Data Storage Market by Storage Medium
    • Europe Next-Generation Data Storage Market by Storage System
    • Europe Next-Generation Data Storage Market by End User
    • UK Next-Generation Data Storage Market All-Up
    • Germany Next-Generation Data Storage Market All-Up
    • France Next-Generation Data Storage Market All-Up
    • Spain Next-Generation Data Storage Market All-Up
    • Rest of Europe Next-Generation Data Storage Market All-Up
  • Asia-Pacific Next-Generation Data Storage Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Next-Generation Data Storage Market by Storage Architecture
    • Asia-Pacific Next-Generation Data Storage Market by Storage Medium
    • Asia-Pacific Next-Generation Data Storage Market by Storage System
    • Asia-Pacific Next-Generation Data Storage Market by End User
    • China Next-Generation Data Storage Market All-Up
    • India Next-Generation Data Storage Market All-Up
    • Japan Next-Generation Data Storage Market All-Up
    • Rest of APAC Next-Generation Data Storage Market All-Up
  • RoW Next-Generation Data Storage Market (Option 4: As a part of the free 25% customization)
    • RoW Next-Generation Data Storage Market by Storage Architecture
    • RoW Next-Generation Data Storage Market by Storage Medium
    • RoW Next-Generation Data Storage Market by Storage System
    • RoW Next-Generation Data Storage Market by End User
    • Brazil Next-Generation Data Storage Market All-Up
    • South Africa Next-Generation Data Storage Market All-Up
    • Saudi Arabia Next-Generation Data Storage Market All-Up
    • UAE Next-Generation Data Storage Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Next-Generation Data Storage Market All-Up

Major Players Operating in the Next-Generation Data Storage Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Dell, Inc.
  • Hewlett Packard Enterprise Development LP
  • NetApp, Inc.
  • Hitachi, Ltd.
  • International Business Machines Corporation
  • Toshiba Corporation
  • Pure Storage, Inc.
  • Nutanix, Inc.
  • Micron Technology, Inc.
  • Inspur International Limited