Report Overview

Ongoing digital transformation across industries and increasingly highly volumes of data generated and captured by businesses and consumers fueling the demand for storage solution are expected to boost the growth of Asia Pacific Next Generation Data Storage Market during the forecast period between 2024 and 2030.

Asia Pacific Next Generation Data Storage Market - Industry Trends & Forecast Report, 2030

The Asia Pacific Next Generation Data Storage Market size was estimated to be worth USD 14.63 billion in 2023. During the forecast period between 2024 and 2030, the Asia Pacific Next Generation Data Storage Market size is projected to grow at a CAGR of 8.22%, reaching a value of USD 23.5 billion by 2030. Major growth factors for the Asia Pacific Next Generation Data Storage Market include increasingly high volumes of data generated owing to the rising use of smartphones, wearable devices, and IoT technologies, the launch and increasing use of 5G technology, and the adoption of cloud technology. Furthermore, rapid digitization across industries, including healthcare, BFSI, and retail, is anticipated to drive the Asia Pacific Asia Pacific Next Generation Data Storage Market during the period in analysis.

Next Generation Data Storage – Overview

Next-generation storage systems simplify data, enable security and safety, and provide centralized file storage and automated cloud backups. These solutions include enhanced data management capabilities, increased storage space, and improved performance. Next-generation data storage technology helps to provide dependable, safe, and quick data recovery economically, in addition to securely managing massive amounts of data. Additionally, it has made it possible to handle and store massive amounts of data produced by big corporations in a scalable manner.

Asia Pacific Next Generation Data Storage Market

Growth Drivers

Rising Adoption of IoT and other Advanced Technologies

The rising penetration and popularity of advanced technologies, such as Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML), is directly boosting the volume of machine-generated data. With the use of big data and data analytics, organizations use data to create policies and make data-driven choices. As a result, businesses now require better storage devices to handle these massive data volumes, which is driving demand for next-generation data storage in the Asia Pacific market. These devices offer centralized file storage and automatic cloud backup in addition to data storage, making remote access and data transfer simple and convenient.

Challenges

Associated Data Security Concerns

The increasing use of cloud storage in next-generation data storage technologies has raised concerns about data security and privacy, which poses a significant threat to the market growth of these technologies in the Asia Pacific region. Next generation data storage enables remote access to multiple users and groups working on a joint project. However, common access may result in a lack of control over data and storage resources. The adoption of next-generation data storage may be hindered as a result, especially in large enterprises with stringent data governance regulations.

Asia Pacific Next Generation Data Storage Market

Segmental Coverage

Asia Pacific Next Generation Data Storage Market – By Storage System

Based on storage system, the Asia Pacific Next Generation Data Storage Market is segmented into direct attached storage (DAS), network attached storage (NAS), and storage area network (SAN). The NAS segment accounts for the highest share of the market, as this type of storage system is cost-efficient and offers easy operation and data backup. It enables businesses to link their computers to the cloud via interfaces and get data for authorized network users and various customers from a single location.

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 & object-based storage and block storage. File & object-based storage holds a larger share in the Asia Pacific Asia Pacific Next Generation Data Storage Market and is projected to register growth at a higher CAGR during the forecast period. File storage is arranged in a rigid tree-like hierarchy with directories, sub-directories, and so on. The rising volumes of structured and unstructured data amplify 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 End User

Based on end user, the Asia Pacific Next Generation Data Storage Market is segmented into BFSI, retail, IT & telecom, healthcare, media & entertainment, and others. The BFSI segment accounts for the highest market share, mainly due to rising data volume in the banking sector through digital wallets, mobile banking, and online customer-assisted services. The retail segment is anticipated to register a high growth rate during the forecast period owing to the flourishing e-commerce sector. The segment is increasingly leveraging advanced technologies, such as AI, IoT, and machine learning (ML), to enhance their customer experience, which is anticipated to fuel the growth of Asia Pacific Next Generation Data Storage Market.

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 countries in the region, including China, India, Japan, South Korea, Australia and New Zealand, Indonesia, Malaysia, Singapore, Vietnam, and rest of APAC. China dominates the Asia Pacific Generation Data Storage Market owing to rapid digitization and increasing investment in data storage infrastructure, along with rising adoption of advanced technologies, such as IoT, among small and medium-sized enterprises (SMEs). China, India, South Korea, and Vietnam also cover a substantial market share. 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.

Recent Developments

• In October 2023 – IBM launched the New IBM Storage Scale System 6000, a cloud-scale global data platform that supports AI workloads.

Scope of the Report

By Storage System

• Direct Attached Storage (DAS)

• Network Attached Storage (NAS)

• Storage Area Network (SAN)

By Storage Architecture

• File & Object-based Storage

• Block Storage

By End User Industry

• BFSI  

• Retail  

• IT & Telecom

• Healthcare  

• Media & Entertainment

• Others

By Country

• China

• India

• Japan

• South Korea

• Australia & New Zealand

• Indonesia

• Malaysia

• Singapore

• Vietnam

• Rest of APAC