Asia Pacific Next Generation Data Storage Market Size Expands at CAGR of 8.22% to Reach USD 23.5 Billion by 2030

Published | 21 February 2024

Asia Pacific Next Generation Data Storage Market is flourishing because of the ongoing digital transformation across industries and increasing data volumes by businesses and consumers.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia Pacific Next Generation Data Storage Market size at USD 14.63 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Asia Pacific Next Generation Data Storage Market size to expand at a CAGR of 8.22% reaching a value of USD 23.5 billion by 2030. The introduction and growing usage of 5G technology, the high adoption of cloud computing, and the growing volume of data due to the growing use of smartphones, wearables, and IoT technologies are major growth factors for the Asia Pacific Next Generation Data Storage Market. The market is also expected to be driven by the increasingly digital transformation across industries, such as healthcare, retail, and BFSI.

Opportunity: Rising Adoption of Next Generation Data Storage in Retail and E-commerce Industries

Cloud computing solutions are becoming increasingly popular in the retail industry because of their advantages, which include scalability flexibility, remote access, and real-time data backup capabilities. The deepening penetration of internet and smartphones is also boosting the growth of e-commerce with an increasing number of businesses and brands building their websites. Increasingly high volumes of data are created as a consequence of the growing number of retail transactions and online sales channels, which is driving the demand for effective storage technology. As a result, the Asia Pacific Next Generation Data Storage Market is expected to grow at significant rate during the period in analysis.

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Asia Pacific Next Generation Data Storage Market

Segmental Coverage

Asia Pacific Next Generation Data Storage Market – By Storage Architecture

Based on storage architecture, the Asia Pacific Next Generation Data Storage Market is segmented into file and object-based storage and block storage. File and object-based storage holds the largest share in the Asia Pacific Next Generation Data Storage Market and is projected to register the highest CAGR during the forecast period. File storage is arranged in a rigid tree-like hierarchy with directories, sub-directories, and so on. The rising volume of structured and unstructured data amplifies the need for organized data storage to provide easy access to stored files, as offered by file and object-based storage architectures.

Asia Pacific Next Generation Data Storage Market – By Region

The in-depth research report on the Asia Pacific Next Generation Data Storage Market covers the market in a number of major countries in the region, including China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and the rest of APAC. China dominates the Asia Pacific Next Generation Data Storage Market owing to rapid digitization and increasing investments in data storage infrastructure, along with rising adoption of advanced technologies, such as IoT, among small and medium-sized enterprises. China, India, South Korea, and Vietnam also hold a substantial market share. For instance, South Korea’s Naver Corp. recently opened Asia’s largest data center in the country to boost the artificial intelligence and cloud sectors.

Competitive Landscape

Major players operating in the Asia Pacific Next Generation Data Storage Market include Dell Inc., Hewlett Packard Enterprise Development LLP, NetApp, Huawei Technologies Co., Ltd., Pure Storage, Inc., Hitachi Vantara LLC, Fujitsu, and IBM Corporation.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Asia Pacific Next Generation Data Storage Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia Pacific Next Generation Data Storage Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia Pacific Next Generation Data Storage Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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