Next Generation Storage Devices Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and Industry Forecast, 2024-2022
Introduction • Next Generation Storage Devices Market is expected to reach $141 billion by 2022 • Reduction in prices of solid-state drives, higher functionality, other costeffective benefits of the solid-state technology, and longer life span of the storage devices are anticipated to boost the growth for the next generation storage devices market • Among storage systems, cloud storage segment dominated the next generation storage devices market, and is anticipated to continue its dominance throughout the period • next generation storage devices offer better administration of data, higher productivity, and improved project management and improved content management in the public sector organization • North America accounted for 35% market share in 2014, while the European market is expected to witness significant growth rate during the forecast period
Key Factors of the Market • Next Generation Storage Technology caters to the growing need for improved data storage and management across various industry verticals, including banking, financial services, insurance (BFSI); retail; IT & telecommunication; government; healthcare; manufacturing; and others • Cloud storage is gaining significant recognition among world enterprises, owing to its low cost of deployment and easy availability • Increase in the number of smartphones for online transactions, rise in e-commerce activities, growth in national and international trade, and increased need to store large amount of data have fueled the growth of next generation storage devices in the BFSI sector • Increase in need for better data storage and management among various enterprises, rise in adoption of cloud computing, innovation in storage technology, and continuous increment in unstructured data are major driving factors of the next generation storage devices industry
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Key Benefits of the Market • The cloud-based storage segment dominated the overall next generation storage devices market, in terms of revenue, and is projected to grow at a CAGR of 18.7% during the forecast period • The cloud storage system segment dominated the global next generation storage devices market in 2014, and is anticipated to grow at the highest CAGR • The software-defined storage segment is expected to grow at the second highest growth rate of 17.7% • IT & telecommunication generated the highest revenue in 2014, while the government sector is estimated to grow at the highest growth rate of 18.1% • In 2014, North America was the dominant region, while Europe is projected to grow at the highest CAGR, with rest of Europe market being the major contributor
Market Segmentation By Storage Technology • Magnetic Storage • Solid-state Storage • Cloud-based Storage • Hybrid Array
By Storage System • Network-attached Storage • Direct-attached Storage • Cloud Storage • Unified Storage • Storage Area Network • Software-defined Storage
By Industry Vertical • BFSI • Retail • IT & Telecommunication • Healthcare • Government • Education • Media & Entertainment
By Geography • North America • Europe • Asia-Pacific • LAMEA
Key Players of the Market • • • • • • • • • •
Dell, Inc. HPE Company Hitachi Ltd. IBM Corporation NetApp, Inc. Nutanix, Inc. Oracle StorageTek Pure Storage, Inc. Tintri, Inc. Toshiba Corp.
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