Next Generation Data Storage Market - Forecasts from 2020 to 2025
The next generation data storage market is expected to surge with a CAGR of 16.66% to achieve a market size of US$130.761 billion by 2025, from US$51.874 billion in 2019. The growth in cloud computing and smart technologies among others is the major driver of smart storage space. The huge chunk of data being generated needs to be accessed easily and analyzed for enhancing the user experience. These smart storage solutions assist in providing reliable, secure and scalable solutions. Enterprises across different industry verticals are increasingly investing in these technologies to gain competitive advantage while optimizing business process efficiency. Hence the growing applications of cloud-based solutions across various end-user industry verticals is propelling the market demand in the forecast period. Geographically, the market in the North American region is expected to soar during the forecast period with a significant market share among all the regions of the world. This is due to the early adoption of technologies and innovations. Also, the presence of major market players in the region is further promoting the market growth of next-generation data storage technologies with the growing number of data along with the growing demand for efficient data storage and data management on a whole.
The growing applications of cloud-based technologies across various end-user industry verticals in order to manage huge volumes of data is driving the global next generation data storage market in the forecast period.
Cloud storage allows a large amount of consumer information to be stored which can be easily gathered and can be used effectively in targeting sales and marketing to a wide group of possible customers. Educational institutes are continuously adopting advancements in technology in order to automate their administrative processes. This has made use of cloud-based technologies where the development of a centralized knowledge and information depository has helped in the improvisation of communication between the teaching staff, parents and students very easily. In the healthcare industries, cloud technologies offer services to patients ranging from apps to wearable devices and digital medical records in order to keep a record of their overall health management. The construction industry too is adopting cloud technologies in order to benefit from its services which include email, sales and marketing, social media, document storage and also helps in accessing information from any job site at any time. Other industries involving applications of cloud-based technologies include real estate, internet, and software, retail companies, etc. Hence, the application of cloud-based technologies across various industry verticals will have a significant impact on providing an opportunity for the market to grow in the forecast period.
On the basis of end-user, BFSI is expected to hold a significant market share propelling the growth of the next generation data storage market in the forecast period.
The BFSI sector is witnessing an increasing demand for efficient cloud storage solutions to store and manage an immense amount of data being created every day. Additionally, the flexibility and cost savings coupled with increased security and reliability of these solutions have led to their widespread adoption by nearly all the market players in this industry. Increasing competition in the BFSI industry has elevated the need to implement smarter business platforms that are agile, adaptable and easily implementable. Reliable backup solutions, along with improved mobile data synchronization, data portability and many other features offered by cloud storage solutions are driving their market in this industry. Moreover, the increasing popularity of digital banking platforms can be seen as a huge growth opportunity of cloud storage market with advancements in cloud storage technologies by the introduction of next-generation data storage in this industry. Automation of processes and migration of front-end activities to digital channels, offered by digital banking platforms, are skyrocketing the demand for cloud storage solutions by various market players in this industry. For instance, Singapore-based digital bank DBS is using cloud storage solution from Microsoft to promote innovation, security, and productivity.
Segmentation:
The growing applications of cloud-based technologies across various end-user industry verticals in order to manage huge volumes of data is driving the global next generation data storage market in the forecast period.
Cloud storage allows a large amount of consumer information to be stored which can be easily gathered and can be used effectively in targeting sales and marketing to a wide group of possible customers. Educational institutes are continuously adopting advancements in technology in order to automate their administrative processes. This has made use of cloud-based technologies where the development of a centralized knowledge and information depository has helped in the improvisation of communication between the teaching staff, parents and students very easily. In the healthcare industries, cloud technologies offer services to patients ranging from apps to wearable devices and digital medical records in order to keep a record of their overall health management. The construction industry too is adopting cloud technologies in order to benefit from its services which include email, sales and marketing, social media, document storage and also helps in accessing information from any job site at any time. Other industries involving applications of cloud-based technologies include real estate, internet, and software, retail companies, etc. Hence, the application of cloud-based technologies across various industry verticals will have a significant impact on providing an opportunity for the market to grow in the forecast period.
On the basis of end-user, BFSI is expected to hold a significant market share propelling the growth of the next generation data storage market in the forecast period.
The BFSI sector is witnessing an increasing demand for efficient cloud storage solutions to store and manage an immense amount of data being created every day. Additionally, the flexibility and cost savings coupled with increased security and reliability of these solutions have led to their widespread adoption by nearly all the market players in this industry. Increasing competition in the BFSI industry has elevated the need to implement smarter business platforms that are agile, adaptable and easily implementable. Reliable backup solutions, along with improved mobile data synchronization, data portability and many other features offered by cloud storage solutions are driving their market in this industry. Moreover, the increasing popularity of digital banking platforms can be seen as a huge growth opportunity of cloud storage market with advancements in cloud storage technologies by the introduction of next-generation data storage in this industry. Automation of processes and migration of front-end activities to digital channels, offered by digital banking platforms, are skyrocketing the demand for cloud storage solutions by various market players in this industry. For instance, Singapore-based digital bank DBS is using cloud storage solution from Microsoft to promote innovation, security, and productivity.
Segmentation:
- By Technology
- Holographic Data Storage
- Hybrid Arrays
- Heat Assisted Magnetic Recording
- By Application
- Big Data Storage
- Enterprise Data Storage
- Cloud Based Storage
- By End User
- Retail
- Government
- Communication
- Manufacturing
- BFSI
- Healthcare
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Others
- Middle East and Africa
- UAE
- Israel
- Saudi Arabia
- Others
- Asia Pacific
- Japan
- China
- India
- Australia
- Others
1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY TECHNOLOGY
5.1. Introduction
5.2. Holographic Data Storage
5.3. Hybrid Arrays
5.4. Heat Assisted Magnetic Recording
6. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY APPLICATION
6.1. Introduction
6.2. Big Data Storage
6.3. Enterprise Data Storage
6.4. Cloud Based Storage
7. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY END USER
7.1. Introduction
7.2. Retail
7.3. Government
7.4. Communication
7.5. Manufacturing
7.6. BFSI
7.7. Healthcare
7.8. Others
8. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. North America Next Generation Data Storage Market, By Technology, 2019 to 2025
8.2.2. North America Next Generation Data Storage Market, By Application, 2019 to 2025
8.2.3. North America Next Generation Data Storage Market, By End User, 2019 to 2025
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. South America Next Generation Data Storage Market, By Technology, 2019 to 2025
8.3.2. South America Next Generation Data Storage Market, By Application, 2019 to 2025
8.3.3. South America Next Generation Data Storage Market, By End User, 2019 to 2025
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe
8.4.1. Europe Next Generation Data Storage Market, By Technology, 2019 to 2025
8.4.2. Europe Next Generation Data Storage Market, By Application, 2019 to 2025
8.4.3. Europe Next Generation Data Storage Market, By End User, 2019 to 2025
8.4.4. By Country
8.4.4.1. UK
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Others
8.5. Middle East and Africa
8.5.1. Middle East and Africa Next Generation Data Storage Market, By Technology, 2019 to 2025
8.5.2. Middle East and Africa Next Generation Data Storage Market, By Application, 2019 to 2025
8.5.3. Middle East and Africa Next Generation Data Storage Market, By End User, 2019 to 2025
8.5.4. By Country
8.5.4.1. United Arab Emirates
8.5.4.2. Israel
8.5.4.3. Saudi Arabia
8.5.4.4. Others
8.6. Asia Pacific
8.6.1. Asia Pacific Next Generation Data Storage Market, By Technology, 2019 to 2025
8.6.2. Asia Pacific Next Generation Data Storage Market, By Application, 2019 to 2025
8.6.3. Asia Pacific Next Generation Data Storage Market, By End User, 2019 to 2025
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. Australia
8.6.4.5. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. IBM
10.2. Hewlett Packard Enterprise Development LP
10.3. Dell Inc.
10.4. Toshiba Electronic Devices & Storage Corporation
10.5. Micron Technology, Inc.
10.6. Tintri by DDN
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY TECHNOLOGY
5.1. Introduction
5.2. Holographic Data Storage
5.3. Hybrid Arrays
5.4. Heat Assisted Magnetic Recording
6. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY APPLICATION
6.1. Introduction
6.2. Big Data Storage
6.3. Enterprise Data Storage
6.4. Cloud Based Storage
7. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY END USER
7.1. Introduction
7.2. Retail
7.3. Government
7.4. Communication
7.5. Manufacturing
7.6. BFSI
7.7. Healthcare
7.8. Others
8. NEXT GENERATION DATA STORAGE MARKET ANALYSIS, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. North America Next Generation Data Storage Market, By Technology, 2019 to 2025
8.2.2. North America Next Generation Data Storage Market, By Application, 2019 to 2025
8.2.3. North America Next Generation Data Storage Market, By End User, 2019 to 2025
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. South America Next Generation Data Storage Market, By Technology, 2019 to 2025
8.3.2. South America Next Generation Data Storage Market, By Application, 2019 to 2025
8.3.3. South America Next Generation Data Storage Market, By End User, 2019 to 2025
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe
8.4.1. Europe Next Generation Data Storage Market, By Technology, 2019 to 2025
8.4.2. Europe Next Generation Data Storage Market, By Application, 2019 to 2025
8.4.3. Europe Next Generation Data Storage Market, By End User, 2019 to 2025
8.4.4. By Country
8.4.4.1. UK
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Others
8.5. Middle East and Africa
8.5.1. Middle East and Africa Next Generation Data Storage Market, By Technology, 2019 to 2025
8.5.2. Middle East and Africa Next Generation Data Storage Market, By Application, 2019 to 2025
8.5.3. Middle East and Africa Next Generation Data Storage Market, By End User, 2019 to 2025
8.5.4. By Country
8.5.4.1. United Arab Emirates
8.5.4.2. Israel
8.5.4.3. Saudi Arabia
8.5.4.4. Others
8.6. Asia Pacific
8.6.1. Asia Pacific Next Generation Data Storage Market, By Technology, 2019 to 2025
8.6.2. Asia Pacific Next Generation Data Storage Market, By Application, 2019 to 2025
8.6.3. Asia Pacific Next Generation Data Storage Market, By End User, 2019 to 2025
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. Australia
8.6.4.5. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. IBM
10.2. Hewlett Packard Enterprise Development LP
10.3. Dell Inc.
10.4. Toshiba Electronic Devices & Storage Corporation
10.5. Micron Technology, Inc.
10.6. Tintri by DDN
