Next-Generation Data Storage Market

Market Leaders - Next-Generation Data Storage Market

Next-generation data storage includes computing technologies and devices that are used to store, port, and extract data in a quicker and more efficient way. The next-generation data storage market is estimated to reach USD 81.0 billion by 2025 from USD 53.9 billion by 2020 at a CAGR of 8.5%. The major drivers for this market include massive growth in digital data volume; proliferated use of smartphones, laptops, and tablets; growth of the IoT market; and increasing penetration of high-end cloud computing. However, the breach in data security in cloud and server-based services, and less structured data are the major restraints for the growth of the next-generation data storage market. Also, the market players are facing challenges in the form of the high cost associated with cloud storage and delivering robust and high-speed data storage.

The next-generation data storage market is highly competitive with a large number of market players. Product launches and developments have been the most prominent strategies followed by the key industry players in recent years. Moreover, acquisitions, partnerships and collaborations, and agreements are other major growth strategies followed by the companies in the consumer IoT market. The key market players following these strategies are Hewlett Packard Enterprise Company (US), Dell Inc. (US), NetApp, Inc. (US), Hitachi, Ltd. (Japan), and International Business Machines Corporation (US), Toshiba Corporation (Japan), Pure Storage, Inc. (US), Nutanix, Inc. (US), among others.

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Dell (US) is an important player in the next-generation data market. It continuously focuses on the development and launch of next-generation data storage products to meet the increasing need of consumers across various enterprises. The acquisition of EMC enabled the company to grow its business in data storage products and solutions. Also, the acquisition is enabling Dell to leverage the expertise and extended portfolio of EMC, which includes flash storage, converged systems, and cloud infrastructure. In February 2018, Dell EMC announced PowerEdge R6415, PowerEdge R7415, and PowerEdge R7425, 3 new servers designed for software-defined environments, edge, and high-performance computing (HPC).

Hewlett Packard Enterprise Company (US) is another major player in the next-generation data market. The company invests a large amount of its revenue in its global R&D activities. It focuses on developing innovative products based on the needs of consumers. For instance, in November 2018, HPE announced new innovations across its intelligent storage solutions to help customers unlock the potential of their data, drive actionable insights into new revenue streams, and deliver impact to their businesses. HPE introduced advancements in its Artificial Intelligence for Operations (AIOps) platform, HPE InfoSight; expansion of HPE Cloud Volumes, a multi-cloud storage service, to the UK and Ireland; HPE Memory-Driven Flash, a new class of enterprise storage built with storage class memory (SCM); and non-volatile

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Next-Generation Data Storage Market by Storage System (Direct-Attached, Network-Attached, Storage Area Network), Storage Architecture (File- & Object-Based, Block), Storage Medium (SSD, HDD, Tape), & End User - Global Forecast to 2025

Mr. Aashish Mehra
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Next-Generation Data Storage Market Size,  Share & Growth Report
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