The global next generation storage devices industry is driven by technological advancements, increased smartphone penetration, rise in online transactions, lower costs of cloud computing platforms, and high Internet penetration worldwide.
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Next generation storage technology is an advanced technology that provides improved data storage and management across various industry. With increase in Internet usage, smartphone adoption, and other means of communication such as social media, large amount of unstructured data is getting cumulated without efficient data handling and storage.
Next generation storage devices are upgraded versions of the conventional data storage devices that allow data storage with high capacity, flexibility, adaptability, reliability, and at lower costs. The ever-growing need of storing, managing, and analyzing the massive amount of data created drives the market growth.
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Cloud storage deployment is easily available in the market, and it offers complete ownership of the storage space at lower costs. In addition, solid-state storage is an emerging technology, which uses integrated circuits (ICs) to store digital data that eliminates the disadvantages of conventional data storage, such as high turnaround time, overheated production, high battery consumption, and shorter lifespans.
Cloud-based storage and solid-state storage are expected to witness significant adoption during the forecast period. However, lack of security provisions in server-based and cloud storage, high costs of solid-state drives, and high initial investment for technological development hinder the market growth.
The global next generation storage devices market is segmented on the basis of storage technology, storage system, industry vertical, and geography. The storage technology segment consists of magnetic storage, solid-state storage, cloud storage, and hybrid array.
Storage systems analyzed in this report are network-attached storage, direct-attached storage, cloud storage, unified storage, storage area network, and software-defined network. Further, based on industry, the global next generation storage devices market is divided into banking, financial services, and insurance (BFSI); retail; IT & telecommunication; healthcare; government; education; media & entertainment; and others.
Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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- In-depth analysis of the global next generation storage devices market and dynamics is provided to understand the market scenario.
- Quantitative analysis of the current trends and future estimations from 2014 to 2022 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
- Porter’s Five Forces analysis examines the competitive structure of the next generation storage devices market, and provides a clear understanding of the factors that influence market entry and expansion.
- A detailed analysis of the geographical segments enables identification of profitable segments for market players.
- Comprehensive analyses of the trends, subsegments, and key revenue pockets are provided.
- Detailed analyses of the key players operating in the next generation storage devices industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Next Generation Storage Devices Market Key Segments:
By Storage Technology
- Magnetic Storage
- Solid-state Storage
- Cloud-based Storage
- Hybrid Array
By Storage System
- Network-attached Storage
- Direct-attached Storage
- Cloud Storage
- Unified Storage
- Storage Area Network
- Software-defined Storage
By Industry Vertical
- IT & Telecommunication
- Media & Entertainment
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