Global Next Generation Data Storage Market Bwc19172
Global Next Generation Data Storage Market, By Storage System (Direct-Attached Storage, Network-Attached Storage, Storage Area Network), By Storage Medium (Hard Disk Drive, Solid-State Drive, Tape), By Storage Type (Local (On-Premise), Remote (Cloud), And Hybrid), By End-User (Enterprises, Government Bodies, Telecom Companies, Cloud Service Providers), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: September 2021
- Report ID: BWC19172
- Available Format: PDF
- Page: 194
Report Overview
Because of the growing data volume among various end-user industries such as healthcare, telecom, IT, banking, financial services and insurance (BFSI), and others, global next generation data storage market is growing at a high CAGR.Global Next Generation Data Storage Market- Industry Trends & Forecast Report 2027
Global next generation data storage market was worth USD 54.0 billion in 2020 and is further projected to reach USD 94.8 billion by the year 2027, growing at a CAGR of 8.4% in the forecast period. The tremendous surge in volumes of unstructured data is fueling the need to have next generation data storage. Furthermore, technological advancements and increasing private investment in developing advanced data storage components and technologies are significantly propelling the global next generation data storage market.
Source: BlueWeave Consulting
Global Next Generation Data Storage Market- Overview
Next generation data storage is advanced storage components and solutions to store big and heavy files and large volumes of data coherently. It offers enhanced data storage technologies and solutions to deal with rising file sizes and large amounts of unstructured data. In today's world, everything we do generates data, making next-generation data storage an essential technology. For instance, almost all wearable electronics, movies, and games generate data. Advanced storage technologies enable faster storage and retrieval of this data. Moreover, the massive volume of data generated in BFSI, healthcare, IT, and telecom industries necessitate next generation storage devices. Therefore, technology giants are investing in developing the next generation of data storage which consists of products and solutions, hardware and software to manage the abundance of growing data.
Global Next Generation Data Storage Market Forecast and Trends
Growth Drivers
Increasing Volume of Data
The volume of data generated globally is growing arbitrarily, with a variety of causes driving its growth, including the increasing number of data creation devices such as smartphones, wearables, medical devices, sensors, IoT technologies, and so on. As a result, the demand for strong and stable next-generation data storage solutions is flourishing to handle this enormous data growth. Furthermore, the growing demand for next generation data storage among small and large businesses is emerging as the major driving factor for the global market growth. Additionally, the growing desire among small and large businesses for next-generation data storage seems to be driving the global market's growth.
Next Generation Data Storage Product Launches
Next generation data storage platforms and solutions are advanced technologies, and industry players have been investing significantly in research and development to improve their products. Global next generation data storage platforms are likely to flourish at a high rate due to the frequent launch of advanced products. According to the LTO Program Technology Provider Companies (TPCs), HP Enterprise, Quantum LTO Holdings, LLC, IBM Corporation, Sony Corporation, and Fujifilm Corporation have completed interchange testing and have demonstrated compliance with the LTO Ultrium generation 9 formats. After completing this testing, the companies can now utilize the LTO Ultrium generation 9 format trademarks of LTO technologies.
Restraints
High Risk of Cybersecurity Attacks in Cloud and Hybrid Data Storage
The convenience of accessing data through cloud and hybrid storage makes cloud and hybrid storage highly popular among all sectors. Cyberattacks are more likely to occur in cloud and hybrid data storage solutions than on-premises storage. Thus, it is a major concern for more than 90% of organizations, which may prevent the growth of the global market for next-generation data storage. Additionally, there is a risk of a data breach, unauthorized access, insecure interfaces, and account hijacking, which could hinder the market growth.
Impact of COVID-19 on Global Next Generation Data Storage Market
In the era of remote working and online education and the emergence of various online entertainment platforms, data generation has multiplied several folds. As a result, the demand for next-generation data storage solutions grew, propelling the overall market growth. However, the lockdown and lack of R&D activities resulted in limited production and supply of data storage solutions, which slowed the market's growth during the first few weeks following COVID-19. However, the market is expected to flourish significantly following COVID-19.
Global Next Generation Data Storage Market - By Storage System
Based on storage systems, the global next generation data storage market is segmented into direct-attached storage, network-attached storage, and storage area network. Direct-attached storage holds the largest market share because they are commonly found in PCs and laptops. Small and medium-sized enterprises can benefit from these systems, as they are low-cost.
However, network-attached storage systems are also experiencing substantial growth. Because of its superior features, such as automated data backup and higher storage space, its market share is projected to grow at the highest rate during the forecast period.
Global Next Generation Data Storage Market - By Storage Medium
Based on a storage medium, the global next generation data storage market is segmented into the hard disk drive, solid-state drive, and tape. The hard disk segment accounts for the largest market share as they are easily available at competitive prices compared to other mediums. The global next-generation data storage market is segmented into the hard disk drive, solid-state drive, and tape-based on storage medium. The hard disk segment accounts for the largest market share as they are easily available at competitive prices compared to other mediums. Solid-state drives, on the other hand, are likely to grow at the quickest rate during the forecast period as it provides superior data storage and data encryption through electronic circuits. Its low noise and heat generation also help to its market expansion.
Global Next Generation Data Storage Market - Regional Insights
Geographically, the global next generation data storage market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among all the regions, North America dominates the market because of the advanced technological landscape and the high number of organizations and businesses working on the cloud, which means large volumes of unstructured data. Furthermore, the high concentration of leading industry players makes it easy for enterprises to access next generation data storage platforms and solutions, which further fuels the growth of the global next generation data storage market.
Source: BlueWeave Consulting
Competitive Landscape
The leading market players in the global next generation data storage market are Dell Inc., Netgear Inc., Hewlett Packard Enterprise Company, Fujitsu Ltd., Scality Inc., DataDirect Networks., Pure Storage Inc., Toshiba Corp., IBM Corporation, Hitachi Ltd, NetApp Inc., Nutanix, Western Digital Corporation, Samsung, Inspur, Drobo Inc., Cloudian Inc., Huawei Technologies Co., Micron Technology, and other prominent players.
The market is highly consolidated, with technology giants dominating the market with advanced technology and expertise. The company frequently engages in product launches with innovations and advancements to stay ahead in the competition. Furthermore, competitive strategies, such as mergers, acquisitions, partnerships, as well as collaborations, are also very common in this market.
Recent Developments
- In September 2021, ViaSat Inc., an American communications company, announced a next generation encryption storage solution, the data-at-rest cryptography solid-state drive (DARC-SSD), providing secure data protection for government and defense agencies.
- In September 2021, FUJIFILM Recording Media U.S.A., Inc., announced the launch and availability of FUJIFILM LTO Ultrium 9 Data Cartridge, increasing capacity and speed for the next generation of secure data storage.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical data – 2017-2020 Base Year – 2020 Forecast – 2021 – 2027 |
Facts Covered |
Revenue in USD Billion |
Market Coverage |
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia |
Product Service/Segmentation |
By Storage System, By Storage Medium, By Storage Type, By End-User, By Region |
Key Players |
Dell Inc., Netgear Inc., Hewlett Packard Enterprise Company, Fujitsu Ltd., Scality Inc., DataDirect Networks., Pure Storage Inc., Toshiba Corp., IBM Corporation, Hitachi Ltd, NetApp Inc., Nutanix, Western Digital Corporation, Samsung, Inspur, Drobo Inc., Cloudian Inc., Huawei Technologies Co., Micron Technology, and other prominent players. |
By Storage System
- Direct-Attached Storage
- Network-Attached Storage
- Storage Area Network
By Storage Medium
- Hard Disk Drive
- Solid-State Drive
- Tape
By Storage Type
- Local (On-Premise)
- Remote (Cloud)
- Hybrid
By End-User
- Enterprises
- BFSI
- Consumer Goods
- Retail
- Healthcare
- Media and Entertainment
- Manufacturing
- Others
- Government Bodies
- Telecom Companies
- Cloud Service Providers
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Research Framework
- Research Objective
- Product Overview
- Key Market Segments
- Research Methodology
- Qualitative Research
- Methodology
- Regional Split of Primary & Secondary Research
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Breakdown of Primary Research Respondents, By Industry Participants
- Market Size Estimation
- Assumptions for the Study
- Market Breakdown & Data Triangulation
- Executive Summary
- Industry Insight and Growth Strategy
- Value Chain Analysis
- DROC Analysis
- Market Drivers
- Increasing Volume Of Data
- Next Generation Data Storage Product Launches
- Market Restraints
- High Risk Of Cybersecurity Attacks In Cloud And Hybrid Data Storage
- Market Challenges
- Lack of IT Infrastructure in Low Income Countries
- Market Opportunity
- Increasing Development Of Data Storage Infrastructure
- Growing Smartphone Penetration
- Market Drivers
- Recent Developments
- Porter’s Five Forces Analysis
- Bargaining Power of Buyers
- Bargaining Power of Suppliers
- Intensity of Rivalry
- Threat of New Entrants
- Threat of Substitutes
- Global Next Generation Data Storage Market Overview
- Market Size & Forecast by Value, 2017-2027
- Market Size and Forecast, By Segment
- By Storage System
- Direct-Attached Storage
- Network-Attached Storage
- Storage Area Network
- By Storage Medium
- Hard Disk Drive
- Solid-State Drive
- Tape
- By Storage Type
- Local (On-Premise)
- Remote (Cloud)
- Hybrid
- By End-User
- Enterprises
- BFSI
- Consumer Goods
- Retail
- Healthcare
- Media And Entertainment
- Manufacturing
- Others
- Government Bodies
- Telecom Companies
- Cloud Service Providers
- Enterprises
- By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- By Storage System
- North America Next Generation Data Storage Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Storage System
- By Storage Medium
- By Storage Type
- By End-User
- By Country
- U.S.
- Canada
- Market Size and Forecast
- Europe Next Generation Data Storage Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Storage System
- By Storage Medium
- By Storage Type
- By End-User
- By Country
- Germany
- U.K.
- Russia
- France
- Italy
- Spain
- Rest of Europe
- Market Size and Forecast
- APAC Next Generation Data Storage Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Storage System
- By Storage Medium
- By Storage Type
- By End-User
- By Country
- China
- India
- Japan
- South Korea
- Rest of APAC
- Market Size and Forecast
- LATAM Next Generation Data Storage Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Storage System
- By Storage Medium
- By Storage Type
- By End-User
- By Country
- Mexico
- Brazil
- Rest of LATAM
- Market Size and Forecast
- MEA Next Generation Data Storage Market Overview
- Market Size and Forecast
- By Value (USD Billion), 2020-2027
- Market Share and Forecast
- By Storage System
- By Storage Medium
- By Storage Type
- By End-User
- By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Market Size and Forecast
- Competitive Landscape
- List of Key Players and Their Offerings
- Market Share Analysis (2020)
- Competitive Benchmarking by Operating Parameters
- Impact of COVID-19 on Global Next Generation Data Storage Market
- Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Dell Inc.
- Netgear Inc.
- Hewlett Packard Enterprise Company
- Fujitsu Ltd.
- Scality Inc.
- DataDirect Networks.
- Pure Storage Inc.
- Toshiba Corp.
- IBM Corporation
- Hitachi Ltd
- NetApp Inc.
- Nutanix
- Western Digital Corporation
- Samsung
- Inspur
- Drobo Inc.
- Cloudian Inc.
- Huawei Technologies Co.
- Micron Technology
- Other Prominent Players
- Key Strategic Recommendations
List of Figures
Figure 1: Global Next Generation Data Storage Market Segmentation
Figure 2: Global Next Generation Data Storage Market Value Chain Analysis,
Figure 3: Company Market Share Analysis, 2020
Figure 4: Global Next Generation Data Storage Market Size, By Value (USD Billion), 2017-2027
Figure 5: Global Next Generation Data Storage Market Share (%), By Storage System, By Value, 2017-2027
Figure 6: Global Next Generation Data Storage Market Share (%), By Storage Medium, By Value, 2017-2027
Figure 7: Global Next Generation Data Storage Market Share (%), By Storage Type, By Value, 2017-2027
Figure 8: Global Next Generation Data Storage Market Share (%), By End-User, By Value, 2017-2027
Figure 9: Global Next Generation Data Storage Market Share (%), By Region, By Value, 2017-2027
Figure 10: North America Next Generation Data Storage Market Size, By Value (USD Billion), 2017-2027
Figure 11: North America Next Generation Data Storage Market Share (%), By Storage System, By Value, 2017-2027
Figure 12: North America Next Generation Data Storage Market Share (%), By Storage Medium, By Value, 2017-2027
Figure 13: North America Next Generation Data Storage Market Share (%), By Storage Type, By Value, 2017-2027
Figure 14: North America Next Generation Data Storage Market Share (%), By End-User, By Value, 2017-2027
Figure 15: North America Next Generation Data Storage Market Share (%), By Country, By Value, 2017-2027
Figure 16: Europe Next Generation Data Storage Market Size, By Value (USD Billion), 2017-2027
Figure 17: Europe Next Generation Data Storage Market Share (%), By Storage System, By Value, 2017-2027
Figure 18: Europe Next Generation Data Storage Market Share (%), By Storage Medium, By Value, 2017-2027
Figure 19: Europe Next Generation Data Storage Market Share (%), By Storage Type, By Value, 2017-2027
Figure 20: Europe Next Generation Data Storage Market Share (%), by End-User, By Value, 2017-2027
Figure 21: Europe Next Generation Data Storage Market Share (%), By Country, By Value, 2017-2027
Figure 22: Asia-Pacific Next Generation Data Storage Market Size, By Value (USD Billion), 2017-2027
Figure 23: Asia-Pacific Next Generation Data Storage Market Share (%), By Storage System, By Value, 2017-2027
Figure 24: Asia-Pacific Next Generation Data Storage Market Share (%), By Storage Medium, By Value, 2017-2027
Figure 25: Asia-Pacific Next Generation Data Storage Market Share (%), By Storage Type, By Value, 2017-2027
Figure 26: Asia-Pacific Next Generation Data Storage Market Share (%), By End-User, By Value, 2017-2027
Figure 27: Asia-Pacific Next Generation Data Storage Market Share (%), By Country, By Value, 2017-2027
Figure 28: Latin America Next Generation Data Storage Market Size, By Value (USD Billion), 2017-2027
Figure 29: Latin America Next Generation Data Storage Market Share (%), By Storage System, By Value, 2017-2027
Figure 30: Latin America Next Generation Data Storage Market Share (%), By Storage Medium, By Value, 2017-2027
Figure 31: Latin America Next Generation Data Storage Market Share (%), By Storage Type, By Value, 2017-2027
Figure 32: Latin America Next Generation Data Storage Market Share (%), By End-User, By Value, 2017-2027
Figure 33: Latin America Next Generation Data Storage Market Share (%), By Country, By Value, 2017-2027
Figure 34: Middle East & Africa Next Generation Data Storage Market Size, By Value (USD Billion), 2017-2027
Figure 35: Middle East & Africa Next Generation Data Storage Market Share (%), By Storage System, By Value, 2017-2027
Figure 36: Middle East & Africa Next Generation Data Storage Market Share (%), By Storage Medium, By Value, 2017-2027
Figure 37: Middle East & Africa Next Generation Data Storage Market Share (%), By Storage Type, By Value, 2017-2027
Figure 38: Middle East & Africa Next Generation Data Storage Market Share (%), By End-User, By Value, 2017-2027
Figure 39: Middle East & Africa Next Generation Data Storage Market Share (%), By Region, By Value, 2017-2027
List of Tables
Table 1: Global Next Generation Data Storage Market Size, By Storage System, By Value, 2017-2027
Table 2: Global Next Generation Data Storage Market Size, By Storage Medium, By Value (USD Billion), 2017-2027
Table 3: Global Next Generation Data Storage Market Size, By Storage Type, By Value (USD Billion), 2017-2027
Table 4: Global Next Generation Data Storage Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 5: Global Next Generation Data Storage Market Size, By Region, By Value (USD Billion), 2017-2027
Table 6: North America Next Generation Data Storage Market Size, By Storage System, By Value (USD Billion), 2017-2027
Table 7: North America Next Generation Data Storage Market Size, By Storage Medium, By Value (USD Billion), 2017-2027
Table 8: North America Next Generation Data Storage Market Size, By Storage Type, By Value (USD Billion), 2017-2027
Table 9: North America Next Generation Data Storage Market Size, By End-User, By Value (USD Billion), 2017-2027,
Table 10: Europe Next Generation Data Storage Market Size, By Storage System, By Value (USD Billion), 2017-2027
Table 11: Europe Next Generation Data Storage Market Size, By Storage Medium, By Value (USD Billion), 2017-2027
Table 12: Europe Next Generation Data Storage Market Size, By Storage Type, By Value (USD Billion), 2017-2027
Table 13: Europe Next Generation Data Storage Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 14: the Asia-Pacific Next Generation Data Storage Market Size, By Storage System, By Value (USD Billion), 2017-2027
Table 15: the Asia-Pacific Next Generation Data Storage Market Size, By Storage Medium, By Value (USD Billion), 2017-2027
Table 16: the Asia-Pacific Next Generation Data Storage Market Size, By Storage Type, By Value (USD Billion), 2017-2027
Table 17: the Asia-Pacific Next Generation Data Storage Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 18: Latin America Next Generation Data Storage Market Size, By Storage System, By Value (USD Billion), 2017-2027
Table 19: Latin America Next Generation Data Storage Market Size, By Storage Medium, By Value (USD Billion), 2017-2027
Table 20: Latin America Next Generation Data Storage Market Size, By Storage Type, By Value (USD Billion), 2017-2027
Table 21: Latin America Next Generation Data Storage Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 22: The Middle-East & Africa Next Generation Data Storage Market Size, By Storage System, By Value (USD Billion), 2017-2027
Table 23: The Middle-East & Africa Next Generation Data Storage Market Size, By Storage Medium, By Value (USD Billion), 2017-2027
Table 24: The Middle-East & Africa Next Generation Data Storage Market Size, By Storage Type, By Value (USD Billion), 2017-2027
Table 25: The Middle-East & Africa Next Generation Data Storage Market Size, By End-User, By Value (USD Billion), 2017-2027
Table 26: Dell Inc. Financial Analysis
Table 27: Dell Inc. Business Overview
Table 28: Netgear Inc. Financial Analysis
Table 29: Netgear Inc. Business Overview
Table 30: Hewlett Packard Enterprise Company Corporation Financial Analysis
Table 31: Hewlett Packard Enterprise Company Corporation Business Overview
Table 32: Fujitsu Ltd. Financial Analysis
Table 33: Fujitsu Ltd. Business Overview
Table 34: Scality Inc. Financial Analysis
Table 35: Scality Inc. Business Overview
Table 36: DataDirect Networks. Financial Analysis
Table 37: DataDirect Networks. Business Overview
Table 38: Pure Storage Inc. Financial Analysis
Table 39: Pure Storage Inc. Business Overview
Table 40: Toshiba Corp. Financial Analysis
Table 41: Toshiba Corp. Business Overview
Table 42: IBM Corporation Financial Analysis
Table 43: IBM Corporation Business Overview
Table 44: Hitachi Ltd Financial Analysis
Table 45: Hitachi Ltd Business Overview
Table 46: NetApp Inc. Financial Analysis
Table 47: NetApp Inc. Financial Analysis
Table 48: Nutanix Financial Analysis
Table 49: Nutanix Business Overview
Table 50: Western Digital Corporation Financial Analysis
Table 51: Western Digital Corporation Business Overview
Table 52: Samsung Financial Analysis
Table 53: Samsung Business Overview
Table 54: Inspur Financial Analysis
Table 55: Inspur Business Overview
Table 56: Drobo Inc. Financial Analysis
Table 57: Drobo Inc. Business Overview
Table 58: Cloudian Inc. Financial Analysis
Table 59: Cloudian Inc. Business Overview
Table 60: Huawei Technologies Co. Financial Analysis
Table 61: Huawei Technologies Co. Business Overview
Table 62: Micron Technology Financial Analysis
Table 63: Micron Technology Business Overvie
Market Segmentation
By Storage System
- Direct-Attached Storage
- Network-Attached Storage
- Storage Area Network
By Storage Medium
- Hard Disk Drive
- Solid-State Drive
- Tape
By Storage Type
- Local (On-Premise)
- Remote (Cloud)
- Hybrid
By End-User
- Enterprises
- BFSI
- Consumer Goods
- Retail
- Healthcare
- Media and Entertainment
- Manufacturing
- Others
- Government Bodies
- Telecom Companies
- Cloud Service Providers
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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