Industry Background:
Data Storage is a collection of methods and advanced technologies that enables to store information of an individual or organization. Data storage is a digital machine-readable medium known as called digital data. It archives the data in electromagnetic or other forms for use by electronic devices such as computers, mobiles, or other devices. The most prevalent forms of data storage are file storage, block storage, and object storage, with each being ideal for different purposes. These storage are used to store information such as pictures, videos, and documents in various formats. It enables to easily access the information stored by using hardware devices on computers or accessing cloud database through the internet. The growing trends for next-gen data storage and big data storage technologies are expected to boost the market size in the upcoming years.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | SanDisk Corporation (United States), IBM Corporation (United States), Microsoft Corporation (United States), Toshiba Corporation (Japan), Hewlett Packard Development Company (United States), VMware, Inc. (United States), NetApp, Inc. (United States), OpenText Corporation (Canada), Hitachi, Ltd. (Japan), Dell EMC (United States), Alphabet, Inc. (United States), Amazon Web Services (United States), Samsung Group (South Korea), Pure Storage (United States) and Seagate Technology PLC (United States) |
This growth is primarily driven by Growing Need For Storage Space by Enterprises, Rising Adoption of Cloud Technology, Demand for Data Storage in Banking Sector and Growth of Internet of Things (IoT) Market.
Globally, a noticeable market trend is evident Trend for Digitization by Huge Corporate Giants Across the Globe The Computer Storage & Peripherals sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as SanDisk Corporation (United States), IBM Corporation (United States), Microsoft Corporation (United States), Toshiba Corporation (Japan), Hewlett Packard Development Company (United States), VMware, Inc. (United States), NetApp, Inc. (United States), OpenText Corporation (Canada), Hitachi, Ltd. (Japan), Dell EMC (United States), Alphabet, Inc. (United States), Amazon Web Services (United States), Samsung Group (South Korea), Pure Storage (United States) and Seagate Technology PLC (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The providers of the data storage market continue to focus on innovation and technological advancements in their products. Such developments coupled with competitive pricing are likely to assist in increasing market share over the forecast period. The key players are investing heavily in research & development to enhance their product quality and features to maintain their market presence in altering consumer buying preferences.
Key Developments in the Market:
In November 2019, OpenText acquired the cloud backup and storage service vendor Carbonite for USD 1.42 billion. This acquisition will further strengthen OpenText as a leader in cloud platforms, complete endpoint security and protection.
In January 2017, SanDisk launched a new high-performance 256GB* SanDisk Extreme PRO USB 3.1 Solid State Flash Drive. This storage drive delivers the speed, capacity, and reliability of an SSD in the convenient form factor of a small USB flash drive. It is ideal for creative professionals, tech enthusiasts, or anyone who creates and shares massive files.
Influencing Trend:
Trend for Digitization by Huge Corporate Giants Across the Globe
Market Growth Drivers:
Growing Need For Storage Space by Enterprises, Rising Adoption of Cloud Technology, Demand for Data Storage in Banking Sector and Growth of Internet of Things (IoT) Market
Challenges:
Possibilities of Losing Data and Delivering Robust and High-Speed Data Storage
Restraints:
Lack of Security and Less Structured Data
Opportunities:
Live Streaming of Online Content and Data Generation Through Client Interaction Increased the Demand for High Capacity Data Storage and Increased Need for Data Analytics
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Data Storage Market
- Analysis about New Entrants in Data Storage Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Data Storage Study Sheds Light on
The Data Storage Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Data Storage industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Data Storage industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.