USD 1.62 billion
Data Storage Market Size, Share, Growth Analysis, By Storage System(Direct-Attached Storage (DAS), Network-Attached Storage (NAS), Storage Area Network (SAN)), By Technology(Magnetic Storage (Hard Disk Drives - HDD), Solid State Storage (Solid State Drives - SSD), Hybrid Array), By Storage Architecture(File & Object-Based Storage, Block Storage), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2166 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
89
|Figures:
76
Data Storage Market Insights
Global Data Storage Market size was valued at USD 1.62 billion in 2022 and is poised to grow from USD 1.71 billion in 2023 to USD 2.63 billion by 2031, at a CAGR of 5.52% during the forecast period (2024-2031).
The global Data Storage marketplace is marked via dynamic increase, fueled by way of the ever-increasing volumes of records generated across industries. Key drivers include the proliferation of virtual transformation tasks and the increasing adoption of cloud computing, necessitating robust and scalable storage answers. Businesses prioritize information safety and compliance, riding call for for superior storage technologies.
However, challenges which includes the growing complexity of handling numerous facts types and the need for value-powerful garage solutions act as restraints. The market witnesses a diverse product landscape, which include traditional HDDs, SSDs, and cloud-based totally garage offerings. North America dominates, pushed through technological innovation, even as Asia-Pacific studies fast boom amid digitalization efforts. Key developments consist of the rise of area computing, the combination of AI in storage answers, and the evolution of garage architectures to satisfy the needs of Big Data analytics and IoT applications. As companies more and more recognize the strategic price of statistics, the Data Storage marketplace continues to adapt, supplying scalable and secure solutions to fulfill the growing storage desires of corporations worldwide.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Storage Area Network (SAN)
Fastest Growth
Solid State Storage (Solid State Drives - SSD)
Growth Rate
5.52% CAGR
Global Data Storage Market ($ Bn)
Country Share for North America Region (%)
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Data Storage Market Segmental Analysis
The global Data Storage market is segmented into four major segments i.e. by Storage System, Technology, Storage Architecture, and region. Based on Type, it is divided into Direct-Attached Storage (DAS), Network-Attached Storage (NAS), Storage Area Network (SAN). Based on Technology, it is bifurcated as Magnetic Storage (Hard Disk Drives - HDD), Solid State Storage (Solid State Drives - SSD), Hybrid Array. Based on Storage Architecture it is segregated into, File & Object-Based Storage, Block Storage. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Analysis by Type
SANs provide high scalability and performance, making them ideal for handling huge datasets and assisting essential programs. Their ability to offer centralized and shared storage resources positions them as a dominant gadget in meeting the evolving wishes of corporations with developing statistics volumes.
SSDs are predicted to be the fastest developing storage device, driven by using their advanced performance characteristics in comparison to standard HDDs. SSDs provide quicker information access speeds, reduced latency, and stepped forward typical gadget overall performance, making them more and more attractive for diverse programs.
Analysis by Technology
SSD technology offers full-size performance benefits over conventional magnetic storage (Hard Disk Drives - HDD). The faster examine and write speeds, lower latency, and progressed I/O operations make SSDs a dominant choice for corporations searching for greater storage overall performance in various applications.
Hybrid arrays combine the blessings of SSDs and HDDs, supplying a balance between performance and potential. This generation permits companies to optimize their storage infrastructure, leveraging the velocity of SSDs for important programs while cashing in on the fee-effectiveness of HDDs for much less frequently accessed records.
Global Data Storage Market By Type
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Data Storage Market Regional Insights
North America is poised to dominate the Data Storage market due to its superior technological landscape. The place, in particular america, is a hub for innovation, home to main storage generation companies, and a pioneer in the adoption of rising storage answers. The non-stop pressure for technological advancement positions North America at the forefront of the Data Storage marketplace.
Asia-Pacific is experiencing a speedy digital transformation across industries. Governments and companies in international locations like China, India, and Southeast Asian countries are closely investing in digital projects, contributing to an elevated demand for classy information garage solutions. The speedy adoption of recent technology, along with IoT, AI, and Big Data, fuels the increase of the facts storage market in the location.
Global Data Storage Market By Region
- Largest
- Fastest
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Data Storage Market Dynamics
Drivers
Increasing Rowth Of Digital Data Across Diverse Industries
- The exponential growth of digital records throughout various industries acts as a primary driving force, necessitating scalable and efficient garage answers. The surge in digital transformation initiatives by way of businesses, pushed by using the want for improved operational performance and statistics-driven selection-making, in addition fuels the demand for superior statistics storage technologies.
Restraints
High Growing Complexity Associated With Managing Diverse Data Type
- One of the principle marketplace restraints is the growing complexity associated with handling diverse records types, formats, and assets. The proliferation of unstructured records, coupled with the need to address big datasets, poses a considerable venture in terms of storage and retrieval efficiency. Data protection issues constitute every other restraint, with the increasing frequency and sophistication of cyber threats necessitating sturdy measures for shielding touchy information.
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Data Storage Market Competitive Landscape
The aggressive environment of the Data Storage market is dynamic and is characterized by way of intense competition amongst key gamers vying for marketplace share and technological dominance. Established organizations and emerging entrants make contributions to the variety of the market, offering a number records storage solutions spanning conventional hard disk drives (HDDs), stable-kingdom drives (SSDs), and cloud-primarily based garage offerings. Key players often have interaction in strategic partnerships, acquisitions, and technological innovations to strengthen their marketplace position.
Top Player’s Company Profiles
- Amazon Web Services (AWS) Storage
- Google Cloud Platform (GCP) Storage
- IBM Cloud Storage
- NetApp
- Dell Technologies (EMC)
- Hitachi Vantara
- Fujitsu
- Pure Storage
- Nutanix
- Infinidat
- Rubrik
- Cohesity
- Snowflake (Cloud Data Platform)
- Databricks (Cloud Data Lakehouse)
- MongoDB (NoSQL Database)
- Red Hat Ceph (Open-source Storage Platform)
- Cloudian (Hyperconverged Infrastructure)
Recent Developments
- September 2023: In 2015, the garage industry witnessed its maximum giant acquisition, a $sixty 3 billion merger among EMC and Dell. However, this record became surpassed in 2023 whilst Broadcom received VMware for $sixty nine billion.
- October 2023: Western Digital Corp. Noticed a greater than 6% growth in its stocks following the declaration of its purpose to divide into separate entities, each specializing in the manufacturing of both hard drives or flash storage. This choice follows about 18 months after activist investor Elliott Investment Management urged the garage manufacturer to keep in mind a corporate separation.
Data Storage Key Market Trends
- Rising Shift Towards Adopting Cloud-Based Storage Services: Rising Shift Towards Adopting Cloud-Based Storage Services: The shift toward adopting cloud-primarily based garage offerings, driven with the aid of using the want for scalability, flexibility, and price-effectiveness. The upward push of place computing is some different giant fashion, reflecting the call for for decentralized storage solutions to assist programs requiring actual-time information processing.
Data Storage Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Data Storage marketplace analysis famous a dynamic marketplace with some of standout tendencies and difficulties. The marketplace is driven by way of escalating statistics volumes amid digital transformation, cloud adoption, and technological improvements. However, demanding situations consist of handling various statistics sorts and ensuring robust security. Product types encompass conventional HDDs, SSDs, and cloud-based answers.
North America leads because of innovation, even as Asia-Pacific reviews rapid increase amid digitalization. Key traits contain the rise of cloud garage, hybrid answers, and extended recognition on records safety. As businesses navigate the complexities of data control, the market dynamically responds with evolving solutions to satisfy various garage desires globally.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.62 billion |
| Market size value in 2031 | USD 2.63 billion |
| Growth Rate | 5.52% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Data Storage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Data Storage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Data Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Data Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Data Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Data Storage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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