India Next Generation Storage Market By Storage System (DAS, NAS, Cloud Storage, Unified Storage, SAN, SDS), By Storage Architecture (File and Object Based Storage & Block Storage), By Storage Technology (Magnetic Storage, Solid State Storage & Others), By Vertical (BFSI, Retail, IT & Telecom, Healthcare, Media & Others), Competition, Forecast & Opportunities, 2029

November 2023 | 90 pages | ID: IC96EB1BEB9EN
TechSci Research

Abstracts

India's Next Generation Storage Market, valued at USD 5.9 Billion in 2023, is set to experience substantial growth in the coming years, with a projected CAGR of 15.2% through 2029. This growth is primarily driven by the increasing utilization of data and evolving business requirements. As organizations embrace digitalization and advanced technologies, there is a growing demand for efficient storage solutions. This market encompasses innovations like flash storage, software-defined storage, and hybrid cloud solutions to cater to diverse industries. Factors such as the expanding e-commerce sector, integration of the Internet of Things (IoT), and government initiatives like 'Digital India' are propelling market growth.

Despite challenges such as data security and skill gaps, both established companies and startups are addressing these concerns with innovative storage offerings. This market presents investment opportunities for domestic and international stakeholders and is poised to play a pivotal role in shaping India's digital business landscape.

Key Market Drivers

1. Rising IoT Expansion: The rapid growth of the Internet of Things (IoT) is significantly impacting India's Next Generation Storage Market. IoT generates vast amounts of real-time data from various sources like sensors, wearables, and smart devices. Traditional storage systems struggle to efficiently manage this data influx. To address this challenge, businesses are turning to next-gen storage solutions like flash storage and software-defined storage, which offer scalability and performance needed to handle IoT-generated data. Additionally, IoT's distributed computing approach is driving demand for edge storage solutions, further boosting the market.

2. Growing E-commerce: The burgeoning e-commerce sector is transforming India's storage requirements. The surge in transactional data, customer profiles, and product information necessitates advanced storage solutions. Technologies like flash storage and software-defined storage offer the rapid data retrieval and scalability essential for delivering seamless user experiences, optimizing supply chain operations, and personalizing customer interactions in real time. As e-commerce continues to grow, the demand for innovative storage technologies will increase.

3. The Data Proliferation: The relentless growth of data, fueled by online activities, social media interactions, IoT devices, and business transactions, is a driving force behind the India Next Generation Storage Market. This surge in data creation has shifted storage requirements, with organizations seeking advanced solutions to efficiently manage and harness vast datasets. Technologies like flash storage, software-defined storage, and cloud-based solutions are crucial in this data-driven landscape.

4. Cloud Adoption: The rapid adoption of cloud computing is shaping the India Next Generation Storage Market. Cloud adoption offers flexibility, scalability, and cost-efficiency. Cloud-based storage solutions are in high demand, as they seamlessly integrate with cloud platforms and provide businesses with dynamic storage capacities. This synergy between cloud computing and advanced storage technologies enhances the effectiveness of cloud-based services, fostering innovation and technological progress in the market.

Key Market Challenges

1. Data Security and Privacy Concerns: Data security and privacy concerns pose a significant challenge to the India Next Generation Storage Market. The growth in data storage and sharing increases the risk of breaches and unauthorized access. Robust encryption, access controls, and cybersecurity measures are essential to address these concerns and ensure data protection and compliance with regulations.

2. Infrastructure Limitations: Inadequate technological infrastructure, especially in remote and underserved areas, hinders the efficient implementation and utilization of advanced storage solutions. High-speed internet, reliable power supply, and robust connectivity are critical for optimal storage system performance. Bridging the digital divide through infrastructure development is necessary to ensure equitable access to advanced storage capabilities.

Key Market Trends

1. Rise of Hybrid Cloud Solutions: Hybrid cloud solutions are gaining prominence as businesses seek to balance localized and cloud-based storage. This trend reflects the need for flexible and scalable storage options, allowing organizations to adapt to evolving data requirements seamlessly.

2. Data Management and Analytics Integration: Integration of data management and analytics tools is a driving trend, empowering businesses to extract actionable insights from stored data. This integration enhances decision-making capabilities and supports data-driven strategies.

3. Focus on Data Security: Data security remains a top priority, driving innovation in encryption protocols, access controls, and compliance mechanisms. Storage solution providers are developing advanced security features to protect sensitive information, aligning storage technologies with the growing need for data integrity and confidentiality.

Segmental Insights

1. Storage System Type Insights: In 2023, Direct Attached Storage (DAS) is expected to dominate India's next-generation storage market. DAS provides a cost-effective solution suitable for small and medium enterprises. Its popularity is attributed to the growing adoption of cloud computing, where DAS is offered as a service. Additionally, the proliferation of IoT devices drives demand for localized storage solutions, making DAS a prominent choice.

2. Storage Architecture Type Insights: In 2023, the File and Object Based Storage sector is projected to lead the market, driven by the surge in cloud computing and the Internet of Things (IoT). File and object-based storage efficiently manage IoT-generated data and are offered as cost-effective cloud services.

3. Vertical Type Insights: The Banking, Financial Services, and Insurance (BFSI) sector are expected to dominate the market due to its substantial data requirements. The integration of digital technologies and regulatory compliance are driving the demand for advanced storage solutions within the BFSI sector.

Regional Insights

South India is expected to dominate the India next-generation storage market in 2023 and maintain its dominance. This region, home to major IT hubs, is attracting investments from global companies, driving the demand for next-gen storage solutions. The growth of cloud computing and big data analytics further contributes to the demand for advanced storage technologies in South India.

Key Market Players

• Dell Technologies
• IBM Corporation
• Hitachi Ltd.
• Hewlett Packard Enterprise Development LP
• NetApp
• Huawei Technologies Co. Ltd.
• Fujitsu
• Cloudian Inc.
• NetGear
• Pure Storage Inc.
• Western Digital Corporation
• Samsung
• Nutanix

Report Scope:

In this report, the India Next Generation Storage Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• India Next Generation Storage Market, By Storage System:
• DAS
• NAS
• Cloud Storage
• Unified Storage
• SAN
• SDS
• India Next Generation Storage Market, By Storage Architecture:
• File and Object Based Storage
• Block Storage
• India Next Generation Storage Market, By Storage Technology:
• Magnetic Storage
• Solid State Storage
• Others
• India Next Generation Storage Market, By Vertical:
• BFSI
• Retail
• IT & Telecom
• Healthcare
• Media
• Others
• India Next Generation Storage Market, By Region:
• North India
• South India
• West India
• East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Next Generation Storage Market.

Available Customizations:

India Next Generation Storage Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Contents

1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

4. IMPACT OF COVID-19 ON INDIA NEXT GENERATION STORAGE MARKET

5. VOICE OF CUSTOMER

6. INDIA NEXT GENERATION STORAGE MARKET OVERVIEW

7. INDIA NEXT GENERATION STORAGE MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Storage System (DAS, NAS, Cloud Storage, Unified Storage, SAN, SDS)
  7.2.2. By Storage Architecture (File and Object Based Storage & Block Storage)
  7.2.3. By Storage Technology (Magnetic Storage, Solid State Storage & Others)
  7.2.4. By Vertical (BFSI, Retail, IT & Telecom; Healthcare, Media & Others)
  7.2.5. By Region
7.3. By Company (2023)
7.4. Market Map

8. EAST INDIA NEXT GENERATION STORAGE MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Storage System
  8.2.2. By Storage Architecture
  8.2.3. By Storage Technology
  8.2.4. By Vertical

9. WEST INDIA NEXT GENERATION STORAGE MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Storage System
  9.2.2. By Storage Architecture
  9.2.3. By Storage Technology
  9.2.4. By Vertical

10. NORTH INDIA NEXT GENERATION STORAGE MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Storage System
  10.2.2. By Storage Architecture
  10.2.3. By Storage Technology
  10.2.4. By Vertical

11. SOUTH INDIA NEXT GENERATION STORAGE MARKET OUTLOOK

11.1. Market Size & Forecast
  11.1.1. By Value
11.2. Market Share & Forecast
  11.2.1. By Storage System
  11.2.2. By Storage Architecture
  11.2.3. By Storage Technology
  11.2.4. By Vertical

12. MARKET DYNAMICS

12.1. Drivers
12.2. Challenges

13. MARKET TRENDS AND DEVELOPMENTS

14. POLICY AND REGULATORY LANDSCAPE

15. INDIA ECONOMIC PROFILE

16. COMPANY PROFILES

16.1. Dell Technologies
  16.1.1. Business Overview
  16.1.2. Key Financials & Revenue (If Available)
  16.1.3. Key Contact Person
  16.1.4. Headquarters Address
  16.1.5. Key Product/Service Offered
16.2. IBM Corporation
  16.2.1. Business Overview
  16.2.2. Key Financials & Revenue (If Available)
  16.2.3. Key Contact Person
  16.2.4. Headquarters Address
  16.2.5. Key Product/Service Offered
16.3. Hitachi Ltd.
  16.3.1. Business Overview
  16.3.2. Key Financials & Revenue (If Available)
  16.3.3. Key Contact Person
  16.3.4. Headquarters Address
  16.3.5. Key Product/Service Offered
16.4. Hewlett Packard Enterprise Development LP
  16.4.1. Business Overview
  16.4.2. Key Financials & Revenue (If Available)
  16.4.3. Key Contact Person
  16.4.4. Headquarters Address
  16.4.5. Key Product/Service Offered
16.5. NetApp
  16.5.1. Business Overview
  16.5.2. Key Financials & Revenue (If Available)
  16.5.3. Key Contact Person
  16.5.4. Headquarters Address
  16.5.5. Key Product/Service Offered
16.6. Huawei Technologies Co. Ltd.
  16.6.1. Business Overview
  16.6.2. Key Financials & Revenue (If Available)
  16.6.3. Key Contact Person
  16.6.4. Headquarters Address
  16.6.5. Key Product/Service Offered
16.7. Fujitsu
  16.7.1. Business Overview
  16.7.2. Key Financials & Revenue (If Available)
  16.7.3. Key Contact Person
  16.7.4. Headquarters Address
  16.7.5. Key Product/Service Offered
16.8. Cloudian Inc.
  16.8.1. Business Overview
  16.8.2. Key Financials & Revenue (If Available)
  16.8.3. Key Contact Person
  16.8.4. Headquarters Address
  16.8.5. Key Product/Service Offered
16.9. NetGear
  16.9.1. Business Overview
  16.9.2. Key Financials & Revenue (If Available)
  16.9.3. Key Contact Person
  16.9.4. Headquarters Address
  16.9.5. Key Product/Service Offered
16.10. Pure Storage Inc.
  16.10.1. Business Overview
  16.10.2. Key Financials & Revenue (If Available)
  16.10.3. Key Contact Person
  16.10.4. Headquarters Address
  16.10.5. Key Product/Service Offered
16.11. Western Digital Corporation
  16.11.1. Business Overview
  16.11.2. Key Financials & Revenue (If Available)
  16.11.3. Key Contact Person
  16.11.4. Headquarters Address
  16.11.5. Key Product/Service Offered
16.12. Samsung
  16.12.1. Business Overview
  16.12.2. Key Financials & Revenue (If Available)
  16.12.3. Key Contact Person
  16.12.4. Headquarters Address
  16.12.5. Key Product/Service Offered
16.13. Nutanix
  16.13.1. Business Overview
  16.13.2. Key Financials & Revenue (If Available)
  16.13.3. Key Contact Person
  16.13.4. Headquarters Address
  16.13.5. Key Product/Service Offered

17. STRATEGIC RECOMMENDATIONS

18. ABOUT US & DISCLAIMER