Authored By: Sarah
11 Jul 2024

 Data Center Storage Market Size to grow by USD 117.3 billion between 2024-2028

According to a research report “ Data Center Storage Market” by Deployment (SAN system, NAS system, DAS system) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 117.3 billion, at a CAGR of almost 18.56% during the forecast period. In today's digital landscape, the requirement for robust data center storage solutions has escalated due to the exponential growth in data volume, velocity, veracity, and variety. With data generation shifting from megabytes (MB) and gigabytes (GB) to zettabytes (ZB) and yottabytes (YB), the need for expansive storage capacity is paramount. Simultaneously, the velocity at which data is produced and analyzed has intensified, necessitating real-time access to data. Previously, data analysis relied on batch processing; however, the current business landscape demands instantaneous insights, thereby necessitating a shift towards real-time data processing.

Browse market data tables, figures, and in-depth TOC on “Data Center Storage Market” by Deployment (SAN system, NAS system, DAS system) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Deployment, the SAN system segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

In the data center landscape, Storage Area Networks (SAN) have gained significant traction due to their ability to efficiently manage and access large volumes of data. The centralized control and flexibility to allocate capacity among multiple hosts are primary reasons for the widespread adoption of SAN systems. Additionally, the low cost of upgrading SAN systems is a significant advantage, making it an attractive option for data center providers. This cost savings, derived from the minimal software costs and independence from additional hardware storage, has fueled technological advancements in SAN systems. Consequently, major market players are introducing innovative SAN-compatible storage solutions to cater to the growing demand.

North America is forecasted to hold the largest market size by region in 2024

The Data Center Storage Market is experiencing significant growth due to the increasing demand for digital transformation and cloud services. Businesses are investing heavily in advanced storage solutions to manage and protect their data more effectively. Technologies like Artificial Intelligence and Machine Learning are being integrated into storage systems to enhance data management capabilities. The market is expected to reach new heights in the coming years, driven by the need for efficient, scalable, and secure data storage solutions.

The Data Center Storage Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • DataDirect Networks Inc.
  • Dell Technologies Inc.
  • Equinix Inc.
  • Fujitsu Ltd.
  • Hewlett Packard Enterprise Co.
  • Hitachi Vantara LLC
  • Huawei Technologies Co. Ltd.
  • Inspur Group.
  • International Business Machines Corp.
  • Lenovo Group Ltd.
  • NEC Corp.
  • NetApp Inc.
  • Netgear Inc.
  • Nimbus Data Inc.
  • Oracle Corp.
  • OVERLAND STORAGE, INC.
  • Pure Storage Inc.
  • Quanta Computer Inc.
.

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Research Analysis Overview

The Data Center Storage Market is experiencing significant growth due to the increasing demand for teleconferencing services and collaborative software in the IT & telecommunication and media & entertainment industries. The surge in Internet traffic necessitates robust network infrastructure, servers, and IT infrastructures to support the storage requirements. Cloud capabilities are also driving the market, with hybrid cloud adoption becoming increasingly popular. Predictive storage management is a key trend in data center storage, enabling organizations to optimize their storage usage and reduce costs. Hard disk drives and tape drives continue to be popular choices for traditional storage, but all-flash storage and network-attached storage systems are gaining traction due to their faster data access and higher performance. Edge computing adoption is also fueling the market, as organizations look to store and process data closer to the source to reduce latency. Overall, the Data Center Storage Market is expected to grow significantly in the coming years, driven by the need for reliable, efficient, and scalable storage solutions.

Market Research Overview

The Data Center Storage Market is experiencing significant growth due to the increasing demand for digital information and the adoption of cloud, SANs (Storage Area Networks), NAS (Network-Attached Storage Systems), and edge computing. The Government sector, BFSI industry, Education industry, and Telecom sector are major contributors to the market. Cloud, with its SaaS providers and collaborative software, is driving the need for high-performance storage arrays like Flash memory and SSDs. iSCSI SAN and FC SAN are popular choices for enterprise-level storage, while NAS is preferred for smaller businesses and media & entertainment industries. The Internet of Things, remote work capabilities, and digital transformation are leading to the adoption of edge data centers. The Edge computing adoption and Hybrid cloud adoption are also contributing to the market growth. Predictive storage management, Skilled professionals, and Network infrastructure are essential for managing the IT infrastructures, servers, and storage devices. Cloud capabilities, business contingency plans, and data availability are crucial factors for IT infrastructure in various sectors like manufacturing, e-commerce, and gaming. The Teleconferencing services, Internet traffic, and 5G networks are driving the demand for cloud storage and on-premises storage. Government regulations, SMEs, and national security are also significant factors influencing the market. Hard disk drives, tape drives, and various software technologies, including FCoE technology and networking equipment, are essential components of the Data Center Storage Market. The market is expected to grow further due to the economic performance, internet infrastructure, and the increasing demand for digital services and data-intensive technologies. Submarine cable projects and hyperscale facilities are also contributing to the market's growth.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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