Global Next-Generation Data Storage Market (2021-2026) by Storage Architecture, Storage Medium, Storage System, End User, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Next-Generation Data Storage Market is estimated to be USD 60.1 Bn in 2021 and is expected to reach USD 87.49 Bn by 2026, growing at a CAGR of 7.8%.

Market Dynamics

Next-generation data storage encompasses sophisticated data storage technologies and solutions to deal with increasing file sizes and enormous amounts of unstructured data. Next-generation data storage technology devices safely manage massive amounts of data and provide secure, dependable, and quick data recovery at a low cost. Because of the enormous volume of data created in their operations, end-user industries such as BFSI, healthcare, IT, and telecom are desperate to need next-generation storage systems.

As the number of internet users grows, so does the volume of digital data created by digital platforms such as digital payments, websites, media & entertainment, IoT devices, and Artificial Intelligence (AI). As a result of this rise, there is a greater demand for next-generation data storage. It helps businesses to store data and construct databases, as well as evaluate future business data. Furthermore, it prevents data corruption and loss and allows for speedier data recovery. The rapid adoption of AI in several countries has resulted in a massive increase in digital data generated from bank customer service, robotics in manufacturing facilities and home automation, and enterprise decision-making, driving up demand for high data storage capacity. These reasons have contributed to an increase in demand for next-generation data storage.

One of the significant worries among marketers is data security breaches. However, a data security breach in the cloud and server stymies worldwide industry growth. A high level of data security is necessary to deal with such a problem.

Market Segmentation

The Global Next-Generation Data Storage Market is segmented further based on Storage Architecture, Storage Medium, Storage System, End User, and Geography.

By Storage Architecture, the market is classified into File and Object-based Storage (FOBS) and Block Storage.

By Storage Medium, the market is classified into SSD, HDD, and Tape.

By Storage System, the market is classified into Direct Attached Storage (DAS), Network, and Attached Storage (NAS).

By End User, the market is classified into Government, Cloud Service Providers, and Telecom.

By Geography, North America is projected to lead the market.

Recent Developments

1. Hitachi Acquires GlobalLogic-31st Mar 2021
2. NetApp Acquires Data Mechanics-5th Oct 2021

Company Profiles

Some of the companies covered in this report are Dell Technologies, Fujitsu Limited, Micron Technology, NetApp, Nexenta Systems, Quantum Corporation, Veritas, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Next-Generation Data Storage Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market