The healthcare data storage market is projected to reach USD 5.4 billion in 2024 from USD 2.8 billion in 2019, at a CAGR of 14.3%. Market growth is driven mainly by the massive growth in digital data volume in healthcare organizations, faster and easier deployment of cloud storage solutions, and increasing adoption of hybrid data storage solutions.
The healthcare data storage market is marked by the presence of several big and small players. Prominent players offering healthcare data storage products include Dell (US), IBM Corporation (US), NetApp (US), Hewlett-Packard Enterprise (HPE) Development LP (US), Pure Storage, Inc. (US), Hitachi, Ltd. (Japan), Toshiba Corporation (Japan), Western Digital Corporation (US), Scality (US), Huawei Technologies Co., Ltd. (China), Fujitsu (Japan), Samsung (South Korea), Drobo (US), Tintri (US), and Cloudian (US).
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These players have adopted various growth strategies, such as product launches & upgrades, acquisitions, partnerships, agreements, and collaborations to further expand their presence in the global market. Most key players adopted expansions as their primary growth strategy between 2016 and 2019.
Dell is one of the leading providers of healthcare data storage solutions across the globe. Dell has been strategically focusing on enabling its customers to use new technologies, alongside maintaining existing platforms. Dell works to overcome problems related to popular storage technologies by launching new products or upgrading its existing ones. The company aspires to be a leading player in this market with its innovative technologies and leverages its economic stability by investing in flash, hyper-converged, and software-defined storage (SDS) approaches.
HPE Company offers comprehensive data storage solutions for a range of industrial applications. The company adopts both organic and inorganic strategies for the expansion of its existing next-generation data storage portfolio. In April 2017, HPE acquired Nimble Storage (US), a company focused on providing storage solutions. HPE’s strong emphasis on organic growth has allowed it to achieve considerable financial performance. For instance, the net revenue recorded in 2018 was USD 19.5 billion, which showed a surge of 10.8% as compared to 2017. The company is also focused on developing all-new data storage solutions, such as cloud, SDS, and hybrid storage.
NetApp is a leading global software, system, and service provider for data storage management. This is a customer-centric company that provides innovative solutions. It employs a multichannel distribution strategy to reach target customers. In order to address the future needs for data storage, NetApp has defined a data fabric strategy, architecture for hybrid cloud, and collaborative platforms for data storage devices. To strengthen its market presence, the company focuses on both organic as well as inorganic strategies, which is reflected in the series of product launches & upgradations, partnerships, agreements, and collaborations undertaken by it.
Healthcare Data Storage Market Healthcare Data Storage Market by Delivery (Remote, Hybrid, On-premise), Architecture (File, Block, Object), Type (Tape, Flash, Solid), Systems (Direct, Network), End User (Pharma, Biotech, CRO, Hospital, Clinic, Research Center) - Global Forecast to 2024
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