DUBLIN--(BUSINESS WIRE)--The "Healthcare Data Storage Market by Delivery (Remote, Hybrid, On-premise), Architecture (File, Block, Object), Type (Tape, Flash, Solid), Systems (Direct, Network), End-User (Pharma, Biotech, CRO, Hospital, Research Center), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The healthcare data storage market is projected to reach USD 5.4 billion in 2024 from USD 2.8 billion in 2019, at a CAGR of 14.3%
The rising volume of digital data generated in healthcare organizations, the rapid and easy deployment of cloud storage solutions, and the increasing adoption of hybrid data storage solutions have all driven market growth.
The file storage segment accounted for the largest share of the healthcare data storage architecture market in 2018.
Based on architecture, the healthcare data storage market is segmented into file, object, and block storage. The file storage segment accounted for the largest share of the market in 2018. File storage offers easy syncing, sharing, and distribution of data, which has driven the demand for this architecture type. The object storage segment is expected to witness high growth in this market, mainly due to its capability to handle large volumes of unstructured data as opposed to file storage, which can only handle structured data.
The flash & solid-state storage segment is projected to grow at the highest CAGR during the forecast period.
Based on type, the healthcare data storage market is segmented into magnetic storage and flash & solid-state storage. The flash & solid-state storage segment is projected to grow at the highest CAGR during the forecast period. Over the years, the capacities of flash & solid-state drives have surpassed that of magnetic disks. Moreover, the price of flash and solid-state drives has also declined to a great extent, which has resulted in their increased adoption by end-users.
RoW to witness high growth during the forecast period.
In 2018, North America accounted for the largest share of the market, followed by Europe. However, the RoW is expected to grow at the highest CAGR during the forecast period. The increasing volume of unstructured healthcare data and rapid technological advancements have driven demand for secure, reliable, and cost-efficient storage infrastructure in North America.
North America, being the early adopter of advanced data storage technologies, captures the largest share of the healthcare data storage market, followed by Europe and Asia.
- Massive Growth in Digital Data Volume in Healthcare Organizations
- Faster and Easier Deployment of Cloud Storage Solutions
- Increasing Adoption of Hybrid Data Storage Solutions
- Increased Need for Data Analytics and Artificial Intelligence
- Emergence of Social Media and Its Impact on Healthcare Industry
- Rising Security Concerns Related to Cloud-Based Image Processing and Analytics
- Lack of Structured Data
List of companies profiled in the report
- Dell (US)
- IBM Corporation (US)
- NetApp (US)
- Hewlett Packard Enterprise Development LP (US)
- Pure Storage, Inc. (US)
- Hitachi, Ltd. (Japan)
- Toshiba Corporation (Japan)
- Western Digital Corporation (US)
- Scality (US)
- Huawei Technologies Co., Ltd. (China)
- Fujitsu (Japan)
- Samsung (South Korea)
- Drobo (US)
- Tintri (US)
- Cloudian (US)
For more information about this report visit https://www.researchandmarkets.com/r/ch3dax