DUBLIN--(BUSINESS WIRE)--The "Next-Generation Data Storage Market by Storage System (Direct-Attached, Network-Attached, Storage Area Network), Storage Architecture (File- & Object-Based, Block), Storage Medium (SSD, HDD, Tape), & End User - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The next-generation data storage market is estimated to grow from USD 56.8 billion by 2019 to USD 102.2 billion by 2024 at a CAGR of 12.48%.
The major drivers for this market include the massive growth in digital data volume; proliferated use of smartphones, laptops, and tablets; growth of the IoT market; and increasing penetration of high-end cloud computing. However, the breach in data security in cloud and server-based services, and less structured data are the major restraints for the growth of the next-generation data storage market.
Market for SSD to grow at highest CAGR during forecast period
SSD is expected to hold the largest share of the next-generation data storage market by 2024. The rapidly growing volumes of data being generated from various users are raising the storage demand on data-centers. In addition to the connected users, machines such as autonomous cars and connected planes generate a greater volume of content; this is also leading to the increased demand for storage capacity. In the past few years, SSD capacities have surpassed HDD capacities. Moreover, the price of SSDs has also declined to a great extent in these years, which has increased their adoption in various industries.
Enterprises to hold the largest share of next-generation data storage market by 2024
Enterprises are expected to hold the largest share of the next-generation data storage market by 2024. The increased data transfer speeds offered by the advanced data storage devices help the companies manage heavy workloads with high reliability and efficiency. With the rise in Big Data and IoT, enterprise data-centers are growing rapidly to process and store more information; this is contributing to the next-generation data storage market.
RoW to record highest CAGR in the market during forecast period
RoW is expected to register the highest CAGR in the next-generation data storage market during the forecast period. The increase in the demand for smartphones and smart devices, as a result of the introduction of IoT, along with massive development in social media channels has raised the need for storage in this region.
Several countries - including the UAE, Bahrain, and Qatar - are leading the digital consumer space in the region, with high smartphone adoption rates and social media usage. Moreover, the biggest oil companies in the Gulf Cooperation Council (GCC) are discovering ways to make its oilfields smarter by digitizing operations with the help of Big Data and analytics, sensors, and control systems.
Key Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary and Primary Research
2.1.1.1 Key Industry Insights
2.1.2 Secondary Data
2.1.2.1 List of Major Secondary Sources
2.1.2.2 Key Data From Secondary Sources
2.1.3 Primary Data
2.1.3.1 Breakdown of Primaries
2.1.3.2 Key Data From Primary Sources
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.4 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Next-Generation Data Storage Market Opportunities
4.2 Next-Generation Data Storage Market in North America, By Country and End User
4.3 Next-Generation Data Storage Market, By Storage System
4.4 Next-Generation Data Storage Market, By Storage Architecture
4.5 Next-Generation Data Storage Market, By Storage Medium
4.6 Next-Generation Data Storage Market, By End User
4.7 Next-Generation Data Storage Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Massive Growth in Digital Data Volumes
5.2.1.2 Proliferated Use of Smartphones, Laptops, and Tablets
5.2.1.3 Growth of IoT Market
5.2.1.4 Increasing Penetration of High-End Cloud Computing
5.2.2 Restraints
5.2.2.1 Breach in Data Security in Cloud and Server-Based Services
5.2.2.2 Less Structured Data
5.2.3 Opportunities
5.2.3.1 Increased Need for Data Analytics
5.2.3.2 Growing Adoption of Cloud Storage & Solid-State Drives
5.2.4 Challenges
5.2.4.1 Delivering Robust and High-Speed Data Storage
5.2.4.2 High Cost Associated With Cloud Storage
6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.3 Advantages of Next-Generation Data Storage Over Traditional Data Storage
6.4 Industry Trends
7 Next-Generation Data Storage Market, By Storage System
7.1 Introduction
7.2 Direct-Attached Storage
7.2.1 Direct-Attached Storage is the Oldest and Convenient Data Storage Systems
7.3 Network-Attached Storage
7.3.1 Network-Attached Storage to Grow at the Highest Rate
7.4 Storage Area Network
7.4.1 Storage Area Network Held Largest Share of Next-Generation Data Storage Market in 2018
8 Next-Generation Data Storage Market, By Storage Architecture
8.1 Introduction
8.2 File- and Object-Based Storage
8.2.1 File Storage
8.2.1.1 File-Level Storage is Usually Used in NAS Devices as It Offers Comparatively More Storage Space
8.2.2 Object Storage
8.2.2.1 Object Storage is A Preferred Option By the Cloud Storage Providers Due to Its Massive Scalability and Shared Tenancy Features
8.3 Block Storage
8.3.1 Each Block is Controlled and Formatted on an Individual Basis, as Per the Need, By Server-Based Operating Systems in Block Storage
9 Next-Generation Data Storage Market, By Storage Medium
9.1 Introduction
9.2 Hard Disk Drive
9.2.1 Hard Disk Drive Provides High Storage Capacities at Affordable Prices
9.3 Solid-State Drive
9.3.1 Solid-State Drive to Hold the Largest Share of Next-Generation Data Storage Market in 2024
9.4 Tape
9.4.1 Tape Offers for Long-Term Data Retention
10 Next-Generation Data Storage Market, By End User
10.1 Introduction
10.2 Enterprises
10.2.1 BFSI
10.2.1.1 BFSI Held Largest Share of the Next-Generation Data Storage Market
10.2.2 Consumer Goods
10.2.2.1 Consumer Goods Sector Witnessed the High Adoption of Cloud Storage
10.2.3 Retail
10.2.3.1 Advent of Online Retailers is Boosting the Next-Generation Data Storage Market
10.2.4 Healthcare
10.2.4.1 High-Powered Analytics, Distant Data Sharing, Advanced Medical Research, and Telemedicine Capabilities are Driving the Market for the Healthcare Industry
10.2.5 Media and Entertainment
10.2.5.1 Implementation of Next-Generation Data Storage Systems Enables Efficient Content Management in Media and Entertainment Industry
10.2.6 Manufacturing
10.2.6.1 Advanced and Flexible Storage Solutions Help Manufactures Work Efficiently With the Available Data
10.2.7 Others
10.2.7.1 Next-Generation Data Storage Products are Designed to Handle Major Security Challenges in Industries Such as Aerospace & Defense and Energy
10.3 Government Bodies
10.3.1 Government Bodies Worldwide Have Adopted Digitization and Data Analytics Technologies to Improve Their Strategic Planning
10.4 Telecom Companies
10.4.1 Data Science and Big Data Analytics are the Major Emerging Opportunities in the Telecom Sector
10.5 Cloud Service Providers
10.5.1 Cloud Storage Solutions Offer Enterprises the Flexibility to Scale Up Or Scale Down the Storage Capacity, Depending on the Business Requirements
11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 US
11.2.1.1 US Held Largest Market Size in North American Next-Generation Data Storage Market
11.2.2 Canada
11.2.2.1 Next-Generation Data Storage Solutions are Adopted in Canada to Address Effective Data Management
11.2.3 Mexico
11.2.3.1 Mexico is Expected to Witness the Highest Growth Rate in the North American Next-Generation Data Storage Market
11.3 Europe
11.3.1 UK
11.3.1.1 UK Held Largest Share of the European Next-Generation Data Storage Market
11.3.2 Germany
11.3.2.1 Connected Cars Would Generate an Enormous Amount of Data and Boost the Demand for Next-Generation Data Storage Solutions
11.3.3 France
11.3.3.1 France Shows Increasing Demand for Data Storage Across Various Industries Such as Online Retail, Food Processing, and Media and Entertainment
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.1.1 China Held Largest Share of Next-Generation Data Storage Market in APAC
11.4.2 Japan
11.4.2.1 Growing SMEs are Primarily Driving the Next-Generation Data Storage Market in Japan
11.4.3 India
11.4.3.1 Big Data, IoT, and Other Digital and Virtualized Platforms in India is Driving the Next-Generation Data Storage Market
11.4.4 South Korea
11.4.4.1 Growing IoT and Big Data Analytics is Driving the Growth of Next-Generation Data Storage Market in South Korea
11.4.5 Rest of APAC
11.4.5.1 High Demand for Datacenters Will Drive the Next-Generation Data Storage Market in the Rest of APAC
11.5 Rest of the World
11.5.1 Middle East and Africa
11.5.1.1 UAE is an Established Market for Storage Products in Middle East and Africa
11.5.2 South America
11.5.2.1 Mobile Industry and Datacenters are Driving the Growth of Advanced Data Storage Systems in South America
12 Competitive Landscape
12.1 Overview
12.2 Market Ranking Analysis: Next-Generation Data Storage Market, 2018
12.3 Competitive Leadership Mapping, 2018
12.3.1 Visionary Leaders
12.3.2 Innovators
12.3.3 Dynamic Differentiators
12.3.4 Emerging Companies
12.4 Competitive Situations and Trends
12.4.1 Product Launches and Developments
12.4.2 Partnerships and Collaborations
12.4.3 Acquisitions
12.4.4 Agreements
13 Company Profiles
13.1 Key Players
13.1.1 Dell
13.1.2 Hewlett Packard Enterprise (HPE) Company
13.1.3 IBM
13.1.4 Netapp
13.1.5 Hitachi
13.1.6 Toshiba
13.1.7 Pure Storage
13.1.8 Nutanix
13.1.9 Scality
13.1.10 Micron Technology
13.2 Other Key Players
13.2.1 Tintri
13.2.2 Cloudian
13.2.3 Drobo
13.2.4 Quantum
13.2.5 Western Digital
13.2.6 Samsung
13.2.7 Fujitsu
13.2.8 Vmware
13.2.9 Nexenta Systems
13.2.10 Netgear
13.2.11 Inspur
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