Global Next-generation Data Storage Market by Technique (Direct-attached Storage, Network-attached Storage) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global market for next-generation data storage was worth USD 53.1 billion. It is projected to grow at 12.5% compound annual growth rate (CAGR), from 2019 to 2025. The market for next-generation storage is expected to grow due to significant growth in global penetration of IoT in sectors such as manufacturing, healthcare, and retail. The market is growing because of the increased use of mobile computing devices like smartphones, and tablets. There is also a significant increase in digital information across all industry verticals, including healthcare, retail, and BFSI. This leads to the necessity for next-generation data storage devices.

As the amount of information generated in the enterprise sector is constantly increasing, market players are focused on developing scalable, flexible, and effective cloud platforms. Customers are seeking better options to store and manage their data. Market players are investing in cloud technologies like crystal etching to maximize the cloud's storage capabilities. Combining Big Data analytics with cloud storage allows next-generation data storage businesses to provide real-time, reliable access across all channels. This will improve customer experience, particularly for online shopping and banking.

Due to increasing demand for data digitization, and the minimization of human labor, there is still a need to provide high-speed and reliable data storage solutions. High costs are associated with technological advances that meet market needs. This could lead to low adoption of high-end technology in economically vulnerable regions like APAC and MEA. However, there are many growth opportunities in the market for next-generation data storage due to rising consumer demand for data analytics.

Market for next-generation storage is seeing significant growth due to the rising production of data from input-output electronics devices used across a wide range of applications in an increasing number of industries. The need to organize and maintain data across many sectors is reflected in the increasing amount of data being generated. Online shopping, smart technologies and automated systems are just a few of the technological innovations that have shifted the market. Moreover, revenue generation is being driven by the increase in funding for R&D activities to develop advanced technologies to satisfy consumer needs.

The market penetration of cloud and solid-state drives is expected to rise due to increasing Internet penetration, a growing e-commerce sector, digitization of daily activities and an increase in media data transfer. A new generation of consumer electronics will soon launch with faster processing speeds. This will likely lead to a greater demand for advanced data storage solutions like solid-state drives or cloud. This will lead to strong growth opportunities for the market for next generation data storage over the next few years.

Technique Insights

In 2018, the Direct-Attached Storage segment (DAS), capturing over 38% of the overall market, dominated the next-generation storage market. DAS's simple architecture allows for a wide range of information accessibility features. Any PC or laptop can access their DAS from any computer or device. DAS technology is affordable, making it ideal for small and medium-sized businesses. Over the forecast period, the DAS market will be driven by the rising number of small and medium-sized businesses in emerging Asian economies.

Network-Attached Storage will likely experience the fastest growth over the forecast period. Customers find NAS to be an attractive option for next-generation storage because of its ease of use, benefits such as automatic data backup, greater storage space and affordable pricing. This segment will continue to grow due to the increasing demand for information access from one connected device, for multiple users through an authenticated network.

Type Insights

In 2018, the market was dominated by the local (on-premises) next-generation storage segment. It was valued at almost USD 20 billion. This segment is driven by the high performance local storage solutions. Because of its cost-effectiveness, backup and recovery capabilities, the local next-generation storage option is best suited to small-sized businesses or residential customers. Its low capacity and low reliability can be a problem over the forecast period.

Over the forecast period, strong growth is expected in hybrid next-generation data storage. The hybrid system manages information using both on-site and local resources. These systems enable companies to transfer workloads between on-premise or private cloud storage, and then use the public cloud to host data and applications. Hybrid next-generation storage is expected to grow rapidly due to the growing need for large amounts of data, both structured and unstructured.

Technology Insights

In 2018, the magnetic next-generation storage segment (hard disk drive, magnetic tapes and RAM), dominated the market. This was due to the lack of competition and easy availability. The low price of HDDs played a major role in driving demand. However, this segment will likely see a gradual decrease in market share over the forecast period due to the emergence and use of better storage media. The Solid State Drive (SSD), segment, is expected to be one of the fastest growing next-generation storage technologies. It uses safer data encryption and electronic chips rather than magnetic strips. The SSD market is expected to grow in the near future due to its long lifespan, low noise and heat production, high operational speeds, and low power consumption.

There is a significant difference between magnetic and SSD technology in terms of both price and performance. Although magnetic storage is the most efficient in terms capacity, it has poor performance. SSD technology, on the other hand, offers high performance and low capacities. The hybrid array is a storage technology that bridges the gap between them. The hybrid flash array technology will likely see promising growth given the increasing demand for efficiency and performance in complex enterprise applications such as IoT and big data.

End-User Information

The market for next-generation storage can be divided into two segments based on end-user: home and business. The market's dominant segment in 2018 was the business end-user segment. It is further divided into banking, financial and insurance (BFSI), retail and healthcare. The largest market share for next-generation storage was held by the healthcare segment in 2018. It is expected to continue its lead position through the forecast period. The healthcare industry has seen a paradigm shift in data storage over the past few years. Instead of traditional digital data storage, they now use cloud space to store important business and patient information. This is applicable to many operations, procedures, and services. In the near future, the healthcare sector will see a significant growth driver in hybrid cloud.

Over the forecast period, the cloud service providers segment will be one of the fastest growing segments in the market. Cloud computing will play an important role in the future development of next-generation machines. Cloud service providers will need to use next-generation data storage solutions in order to better serve their customers due to the increasing adoption of cloud technologies like hybrid cloud, IoT and BDaaS.

Regional Insights

North America was the dominant market for next-generation storage in 2018, accounting almost 40% of the global market. This is due to the high volume of unstructured information across many industry verticals as well as the need for cost-effective and secure data storage solutions. The North American market will see growth opportunities over the next few years due to the easy availability of technology-advanced products like 3D and molecular storage.

Asia Pacific will experience the fastest growth of the next-generation storage market over the forecast period. The key factors that will drive the demand for cost-efficient, reliable and secure storage infrastructure in Asia Pacific include a rapid rise in smartphone and laptop users and a rising awareness of consumer needs. It is likely that the region's market will benefit from the increasing number of small and medium-sized enterprises in a variety of industries.

Market Share Insights & Key Companies

With constant technological innovation of data storage devices, the global market for next-generation storage is constantly changing. Many organizations are increasingly using data storage as a part of their financial budget. This has led to an increase in growth opportunities for companies in the next-generation storage market. The top players in the market are focused on creating new technologies for customers and maintaining their current platforms, as it can be difficult to switch to new technology. The following are some of the most prominent players in next-generation data storage:

• Hewlett Packard Enterprise Company

• Dell Inc.

• NetApp, Inc.

• Hitachi, Ltd.

• International Business Machines Corporation

• Micron Technology, Inc.

• Netgear Inc.

• Inspur

Up Market Research published a new report titled “Next-generation Data Storage Market research report which is segmented by Technique (Direct-attached Storage, Network-attached Storage), By Players/Companies Hewlett Packard Enterprise Company, Dell Inc, Micron Technology Inc, Netgear Inc, NetApp Inc, International Business Machines Corporation, Hitachi Ltd, Inspur”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Next-generation Data Storage Market Report Segments:

The market is segmented by Technique (Direct-attached Storage, Network-attached Storage).

Next-generation Data Storage Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Next-generation Data Storage Market

Overview of the regional outlook of the Next-generation Data Storage Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Next-generation Data Storage Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Next-generation Data Storage Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Direct-attached Storage

                2. Network-attached Storage

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Next-generation Data Storage Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Next-generation Data Storage Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.