Global Next-Generation Data Storage Market Is Anticipated To Reach Around USD 114.9 Billion By 2025

Zion Market Research has published a new report titled “Next-Generation Data Storage Market By Storage Architecture (Block, File, and Object), By Storage Medium (Tape, Hard Disk Drive, and Solid State Drive), By Storage System (Storage Area Network, Network-Attached, and Direct-Attached), and By End-User (BFSI, Government, Retail, IT & Telecommunication, Manufacturing, Healthcare, Education, Media & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global next-generation data storage market was USD 50.4 billion in 2018 and is expected to reach approximately USD 114.9 billion by 2025, growing at a CAGR of slightly above 12.49% between 2019 and 2025.

Next-generation data storage involves technically-advanced products and solutions portfolio that effectively supports data storage in diversified industry verticals. Industries are relying on the next-generation data storage technologies, as conventional data storage solutions are inefficient in handling voluminous information on a daily basis.

Browse the full “Next-Generation Data Storage Market By Storage Architecture (Block, File, and Object), By Storage Medium (Tape, Hard Disk Drive, and Solid State Drive), By Storage System (Storage Area Network, Network-Attached, and Direct-Attached), and By End-User (BFSI, Government, Retail, IT & Telecommunication, Manufacturing, Healthcare, Education, Media & Entertainment, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/next-generation-data-storage-market

The major factor driving the next-generation data storage market globally is the rapidly escalating digital content dependency on numerous cloud storage platforms. The globally increasing number of cloud-based solutions is propelling the next-generation data storage market growth to a great extent. The worldwide adoption of cloud-based network-attached storage solutions is flourishing, as it can be accessed easily, irrespective of time and location. Cloud-based technologies can be utilized without any requirement of being physically installed on an organization's system. With an increase in the number of cloud-based solutions, the demand for storing large amounts of backup storage is also rising. Various other benefits that are propelling this market are built-in data resiliency, reduction in overall expenditure, elimination of legacy NAS systems refresh, and performance flexibility. However, the requirement of high-speed internet and the huge risk of data security may hamper the next-generation data storage market growth to some extent.

The next-generation data storage market is fragmented based on storage architecture, storage medium, storage system, and end-user. Storage architecture segment includes block, file, and object storage. By storage medium, the market is categorized into the tape, solid state drive, and hard disk drive. On the basis of the storage system, the market is divided into storage area network, network-attached, and direct-attached. The storage area network segment is anticipated to hold the largest market share over the forecast timeframe. The end-user segment of the market comprises media and entertainment, IT and telecommunication, government, healthcare, retail, manufacturing, education, BFSI, and others. The rapidly increasing online transactions and flourishing e-commerce activities will majorly contribute to the BFSI segment’s growth over the forthcoming years.

North America will hold a substantial share of the next-generation data storage market globally, owing to the early and rapid adoption of the latest technological advancements. The U.S. dominated the region and is projected to contribute significantly to both the global well regional market for next-generation data storage.

Some renowned players of the next-generation data storage market are Dell, Hewlett Packard, Hitachi, NetApp, Quantum Corporation, International Business Corporation, Pure Storage, Sandisk Corporation, Fujitsu, Toshiba Corporation, Samsung Electronics, Inspur, Nexenta Systems, Netgear, VMware, Tintri, Nutanix, Micron Technology, Western Digital Corporation, Drobo, and Cloudian.

This report segments the global next-generation data storage market into:

Next-Generation Data Storage Market: Storage Architecture Analysis

• Block Storage
• File Storage
• Object Storage

Next-Generation Data Storage Market: Storage Medium Analysis

• Tape
• Hard Disk Drive(HDD)
• Solid State Drive (SSD)

Next-Generation Data Storage Market: Storage System Analysis

• Storage Area Network
• Network-Attached
• Direct-Attached

Next-Generation Data Storage Market: End-User Analysis

• BFSI
• Government
• Retail
• IT and Telecommunication
• Manufacturing
• Healthcare
• Education
• Media and Entertainment
• Others

Next-Generation Data Storage Market: Regional Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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