LONDON--(BUSINESS WIRE)--According to Technavio’s Research Report “Global Data Center Storage Market by deployment (SAN system, NAS system, and DAS system) and geography (North America, Europe, APAC, South America, and MEA) is witnessed to grow by USD 107.44 billion, at a CAGR of 28% from 2019-2023.”
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SAN system segment will garner the highest market share
The SAN system segment will account for the highest share during the forecast period as these systems are generally deployed by enterprises dealing with high-volume and resource-intensive data, where the data needs to be processed simultaneously. The rise in digitalization across end-user industries is further driving the need for high-speed data storage devices. This will drive the implementation of SAN as it offers a high throughput of up to 12Gb/s. Furthermore, the high-performance capacity of SAN systems makes them highly preferable for high-speed traffic, including high transaction databases and e-commerce websites. Therefore, the increasing use of SAN systems will boost the demand for data center storage during the next few years.
“SAN has helped in managing and accessing substantial amounts of data. Also, centralized control and flexibility for sharing capacity between multiple hosts are key factors driving the adoption of SAN systems in data centers,” says a senior research analyst at Technavio.
Increasing preference for hyper-converged infrastructure in data centers
Hyper converged infrastructure (HCI) is an IT infrastructure which allows systems to offer the convergence of storage and computational functionalities as a single, highly virtualized solution. These systems reduce the data center footprint significantly, eventually leading to the creation of more technical space and core IT space. Also, HCIs offer scalability to the data centers. Customers can add new resources such as servers or storage arrays by connecting a new node to the existing cluster. Furthermore, HCI systems offer a high degree of automation when it comes to storage-related tasks. Therefore, with the rising adoption of HCI systems, the global data center storage market, is anticipated to witness surging growth during the next few years.
Data center storage to witness the fastest adoption in MEA
MEA is anticipated to witness the fastest data center storage market growth during the forecast period. The growth can be attributed to the increase in installation of data centers in the Gulf Cooperation Council (GCC) countries. Growing investments in the fintech sector and smart city initiatives are boosting the demand for new hyper converged data centers in the region. Thus, the increasing deployment of data centers will positively drive the data center storage market in MEA during the forecast period.
Few Major Players for the Data center storage market are:
- Dell Technologies Inc.
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co. Ltd.
- IBM Corp.
- NetAPP Inc.
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