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Data Storage Market

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    Report

  • 143 Pages
  • August 2021
  • Region: Global
  • IndustryARC
  • ID: 3820962
The market for Data Storage is forecast to reach $4.2 billion by 2027, growing at a CAGR of 32.3% from 2022 to 2027 due to the rapid increase in consumer and machine data developments. The market will be driven by increasing need for smartphones, Laptops, PCs and online storage software in small and large enterprises. The Data Storage Market is expected to grow due to the high adoption of cloud storage technology and external data storage devices. Data storage describes the technical means by which digital data is collected and archived for use by a computer or other device. Data storage comprises of primary storage, often referred to as main memory and secondary or auxiliary storage. In cloud data the order of level in which the data is stored in a memory card, HDD or SSD storage, generally adopted by consumers. Cloud storage is preferred by enterprises.

Data Storage Market Report Coverage


The report: “Data Storage Market- Forecast (2022-2027)” covers an in-depth analysis of the following segments of the Data Storage Market.

By Product - Cloud Storage, Network Storage, Unified Storage, Direct Attached Storage, Storage Area Network, Software-Defined Storage and Others

By Architecture - File Storage, Object Storage, Block Storage and Others

By Type- Primary Storage (SRAM, DRAM), Secondary Storage (Magnetic Storage, Solid State Storage, Flash Drives and Optical Drives)

By End-Users Industrial, Government, Enterprise, BFSI, Telecom, Education, Media and Entertainment, Automotive, Consumer & others

By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe (Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa).

Key Takeaways

  • The expansion of the Internet of Things (IoT) has added numerous new sources of Big Data into the Data Management background and is one of the major trends in the forecast period.
  • Trends like artificial intelligence and machine learning, the Internet of the Things (IoT), software-defined storage, object storage and hyper-convergence infrastructure storage to increase scalability will help the data storage in impacting businesses.
  • Most of the enterprises are also embracing network-attached storage (NAS) solutions that allow for simple and reliable access to data. The NAS solutions are easy to deploy for small and mid-sized businesses that require large amounts of space for storage.

The findings say more than 72% of the global organization will migrate to cloud storage platform. Growing demand for low-cost data backup and security across all the enterprises is boosting the usage of cloud storage adoption. The hybrid cloud storage is anticipated to occupy a significant share of whole cloud storage market for the forecast period of 2018 to 2023. This is due to greater flexibility in comparison to both public and private cloud storage. In end-user verticals, BFSI and retail are the leading adopters of online cloud storage. The usage of Microsoft Azure increased from 26% to 43%, Amazon Web Service (AWS) adoption has increased from 56% to 59%. This is expected to boost the cloud-based storage in the enterprise, thus propelling market growth. Banking and financial service industry is leading in the data storage market.

Among all end-use industries, enterprise is the leading segment due to growing adoption of high tech vehicles. Increasing usage of smartphones in urban and some rural areas, growth in new technologies, and rising e-commerce sector are some of the major factors driving the growth of the data storage market. The growing demand for cloud-based storage and the recent increase in enterprise data are the factors further fueling the demand. Recent analysis of data storage says that DNA is used as the future data storage. It is one of the robust storage system available to the customer for decades as only four grams of DNA can maintain multiyear of data created by human.

Currently, North America is the leading market holder with remarkable growth in data storage solutions. The growing analytics and cloud computing is driving the demand for the new data centre infrastructure. The rapid rise in economic growth, coupled with an exponential increase in internet users in the Asia-Pacific region, is likely to drive the market. The substructure allied with the data storage centres is growing in certain countries like India, China and Japan were refurbishing the old ones, is expected to boost the use of data centres. Furthermore, availability of cheap smartphones and reduction decline in the consumer data storage devices, such as hard disk (HDDs), solid-state drive (SSDs), is encouraging the backup storage market.

Data Storage Market Drivers


End Users Generating Personal data

Consumers are generating a flabbergasting amount of data and media files each year, especially because of the easy accessibility of camera in mobile phones and free audio and video data available on the Internet. Furthermore, due to the advent and subsequent prevalence of Internet of Things (IoT), the amount of personal data is only going to increase. This rising mobile content is creating a revenue avenue for the vendors in the data storage market. One of the current trends in the Data Storage Market is it is widely popular and in-demand due to the rising storage capacity in terms of Terabyte and Petabyte of Big Data generated by the organizations. It is widely used because it can handle a large amount of data and keep scaling to keep up growth and can provide input and output data to analytical tools for analysis.

Penetration of Cloud Services

Cloud computing is not a new tool anymore, and a lot of organizations have already subscribed to the cloud services. Now according to the Global Cloud Computing Scorecard by BSA, The Software Alliance; cloud computing has penetrated in 24 countries, and 80% of the IT market share belongs to the same. Now, these cloud services need data storage devices like external and internal hard drives in their systems, which is the most effective driving force that attributes to the data storage market growth. The growing prominence of hybrid cloud storage systems based on highly virtualized infrastructure, wherein the digital data is stored in logical pools. Data storage is the recording of information in the storage medium. Increasing adoption of centralized and micro mobile data centres in companies as well as the growing popularity of cloud are driving the growth of the data storage market.

Data Storage Market Challenges


Concerns Regarding Data Privacy

The biggest challenge with Data storage is the sensitive issue of data privacy and security, which most organizations are facing. With the implementation of GDPR regulations, consumer data privacy issues have been put to the forefront. Privacy concerns are cropping up as companies feed more and more consumer and vendor data into advanced, AI-fuelled algorithms to create new bits of sensitive information, unbeknownst to affected consumers and employees. This is especially prevalent in the BFSI sector, where consumer data collection has been at the forefront in terms of big data challenges. These data privacy concerns will hinder the adoption of Data Storage solutions.

Data Storage Market Landscape


Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Data Storage Market. Hitachi Data System Corporation, Samsung Group, IBM Corporation, Amazon Web Services, Inc., Alphabet, Inc., Microsoft Corp., and Toshiba are considered to be the key players of the Data Storage Market.

Acquisitions/Technology Launches/Partnerships

  • Microsoft announced to launch Archive Blob storage starting at a price of USD 0.002 per gigabyte per month. This storage helps the customers to reduce storage costs by optimizing storage data that is accessed frequently. The storage is developed under the usage in security camera footage, X-Rays in healthcare organizations, audio recording, and transcripts of customers calls in financial services.
  • Innovium lnc., declared launching of advanced version switch software platform for data centres. This software has different capabilities, and deliver performance up to 12.8 TeraByte. The adoption of high efficient, and robust with superior performance data storage is expected to fuel the data storage market growth.


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Table of Contents

1. Data Storage Market - Overview
1.1. Definitions and Scope
2. Data Storage Market - Executive summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by type of Application
2.3. Key Trends segmented by Geography
3. Data Storage Market
3.1. Comparative analysis
3.1.1. Product Benchmarking - Top 10 companies
3.1.2. Top 5 Financials Analysis
3.1.3. Market Value split by Top 10 companies
3.1.4. Patent Analysis - Top 10 companies
3.1.5. Pricing Analysis
4. Data Storage Market Forces
4.1. Drivers
4.2. Constraints
4.3. Challenges
4.4. Porters five force model
4.4.1. Bargaining power of suppliers
4.4.2. Bargaining powers of customers
4.4.3. Threat of new entrants
4.4.4. Rivalry among existing players
4.4.5. Threat of substitutes
5. Data Storage Market - Strategic analysis
5.1. Value chain analysis
5.2. Opportunities analysis
5.3. Product life cycle
5.4. Suppliers and distributors Market Share
6. Data Storage Market - By Product (Market Size -$Million / $Billion)
6.1. Market Size and Market Share Analysis
6.2. Application Revenue and Trend Research
6.3. Product Segment Analysis
6.3.1. Introduction
6.3.2. Network Storage
6.3.3. Cloud Storage
6.3.4. Unified Storage
6.3.5. Direct Attached Storage
6.3.6. Storage Area Network
6.3.7. Software Defined Storage
6.3.8. Others
7. Data Storage Market - By Architecture (Market Size -$Million / $Billion)
7.1. Introduction
7.2. File Storage
7.3. Object Storage
7.4. Block Storage
7.5. Others
8. Data Storage Market - By Type (Market Size -$Million / $Billion)
8.1. Introduction
8.2. Primary Storage
8.2.1. Static RAM
8.2.2. Dynamic RAM
8.3. Secondary Storage
8.3.1. Magnetic Storage
8.3.1.1. Hard Disk Drive
8.3.1.1.1. Internal
8.3.1.1.2. External
8.3.1.2. Magnetic Tapes
8.3.2. Flash Drives
8.3.2.1. USB Flash Drives
8.3.2.2. Memory Card
8.3.2.3. Memory Stick
8.3.3. Solid State Storage
8.3.3.1. Flash Arrays
8.3.3.2. Hybrid Arrays
8.3.4. Optical Drives
9. Data Storage Market - By Cloud Services (Market Size -$Million / $Billion)
9.1. Introduction
9.2. Dropbox
9.3. Google Drive
9.4. Apple iCloud
9.5. Microsoft OneDrive (AZURE)
9.6. Others
10. Data Storage Market - By Application (Market Size -$Million / $Billion)
10.1. Introduction
10.2. Telecommunication
10.3. Energy
10.4. Enterprises
10.5. Consumer
10.6. Automotive
10.7. Government
10.8. Banking, Financial Services and Insurance (BFSI)
10.9. Education
10.10. Media & Entertainment
10.11. Others
11. Data Storage - By Geography (Market Size -$Million / $Billion)
11.1. Data Storage Market - North America Segment Research
11.2. North America Market Research (Million / $Billion)
11.2.1. Segment type Size and Market Size Analysis
11.2.2. Revenue and Trends
11.2.3. Application Revenue and Trends by type of Application
11.2.4. Company Revenue and Product Analysis
11.2.5. North America Product type and Application Market Size
11.2.5.1. U.S.
11.2.5.2. Canada
11.2.5.3. Mexico
11.2.5.4. Rest of North America
11.3. Data Storage - South America Segment Research
11.4. South America Market Research (Market Size -$Million / $Billion)
11.4.1. Segment type Size and Market Size Analysis
11.4.2. Revenue and Trends
11.4.3. Application Revenue and Trends by type of Application
11.4.4. Company Revenue and Product Analysis
11.4.5. South America Product type and Application Market Size
11.4.5.1. Brazil
11.4.5.2. Venezuela
11.4.5.3. Argentina
11.4.5.4. Ecuador
11.4.5.5. Peru
11.4.5.6. Colombia
11.4.5.7. Costa Rica
11.4.5.8. Rest of South America
11.5. Data Storage - Europe Segment Research
11.6. Europe Market Research (Market Size -$Million / $Billion)
11.6.1. Segment type Size and Market Size Analysis
11.6.2. Revenue and Trends
11.6.3. Application Revenue and Trends by type of Application
11.6.4. Company Revenue and Product Analysis
11.6.5. Europe Segment Product type and Application Market Size
11.6.5.1. U.K
11.6.5.2. Germany
11.6.5.3. Italy
11.6.5.4. France
11.6.5.5. Netherlands
11.6.5.6. Belgium
11.6.5.7. Spain
11.6.5.8. Denmark
11.6.5.9. Rest of Europe
11.7. Data Storage - APAC Segment Research
11.8. APAC Market Research (Market Size -$Million / $Billion)
11.8.1. Segment type Size and Market Size Analysis
11.8.2. Revenue and Trends
11.8.3. Application Revenue and Trends by type of Application
11.8.4. Company Revenue and Product Analysis
11.8.5. APAC Segment - Product type and Application Market Size
11.8.5.1. China
11.8.5.2. Australia
11.8.5.3. Japan
11.8.5.4. South Korea
11.8.5.5. India
11.8.5.6. Taiwan
11.8.5.7. Malaysia
12. Data Storage Market - Entropy
12.1. New product launches
12.2. M&A's, collaborations, JVs and partnerships
13. Data Storage Market Company Analysis
13.1. Market Share, Company Revenue, Products, M&A, Developments
13.2. IBM Corporation
13.3. NetApp Inc.
13.4. Microsoft Corporation
13.5. Hewlett Packard Development Company, L.P.
13.6. Sandisk Corporation
13.7. Hitachi Data System Corporation
13.8. Nexenta Systems Inc.
13.9. Dell
13.10. Toshiba Corp.
13.11. NetApp, Inc.
13.12. Boradcom
13.13. FUJITSU
13.14. Company 13
13.15. Company 14
13.16. Company 15 and more
*Financials would be provided on a best efforts basis for private companies
14. Data Storage Market - Appendix
14.1. Abbreviations
14.2. Sources
15. Data Storage Market - Methodology
15.1. Research Methodology
15.1.1. Company Expert Interviews
15.1.2. Industry Databases
15.1.3. Associations
15.1.4. Company News
15.1.5. Company Annual Reports
15.1.6. Application Trends
15.1.7. New Products and Product database
15.1.8. Company Transcripts
15.1.9. R&D Trends
15.1.10. Key Opinion Leaders Interviews
15.1.11. Supply and Demand Trends

Methodology

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