LONDON--(BUSINESS WIRE)--The data center storage market is expected to grow by USD 126.3 billion during 2020-2024 according to the latest market research report by Technavio. Request a free sample report
Over the past few years, end-user industries such as telecommunication, manufacturing, and energy have been witnessing a significant increase in data generation. This has resulted in the increase in demand for technologically advanced edge platforms. To capitalize on this demand, vendors in the market are focusing on the development of new edge computing platforms to help their clients improve data management capabilities at the edge of the network. This has led to an increase in the investments in the deployment of edge computing. The increasing deployment of edge computing will increase the need for edge data centers which will drive the growth of global data center storage market size during the forecast period.
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As per Technavio, the increasing preference for hyper-converged infrastructure in data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Global Data Center Storage Market : Increasing Preference for Hyper-Converged Infrastructure in Data Centers
Hyper converged infrastructure (HCI) is an IT infrastructure which enables 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.
“Growing investments in hyperscale data centers (HDCs) and the implementation of AI in enterprises will have a positive impact on the growth of the data center storage market value during the forecast period,” says a senior analyst at Technavio.
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Data Center Storage Market: Segmentation Analysis
This market research report segments the data center storage market by deployment (SAN system, NAS system and DAS system), and geography (APAC, Europe, MEA, North America and South America).
The North American region led the data center storage market in 2019, followed by Europe, APAC, South America and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as increasing number of data centers and growing demand for IoT devices.
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Some of the key topics covered in the report include:
- SAN system
- NAS system
- DAS system
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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