Global Next-Generation Data Storage Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Next-Generation Data Storage Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global next-generation data storage market report has been segmented on the basis of product type, end user, and region.

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Global Next-Generation Data Storage Market: Overview

Next-generation data storage is a technological advanced solution for solving data storage problems across various sectors such as data centers, IT firms, automotive industries and others. The next-generation data storage technology offers faster, reliable, scalable, secure, and cost-efficient solutions for the data storage and retrieval.

Global Next-Generation Data Storage Market: Dynamics

Rapidly growing digital data volume as increasing number of smartphones, laptops, and tablets users, and rising organizations preference toward cloud computing services are major factors expected to drive growth of the global market over the forecast period.

In addition, increasing demand for time-saving technologies and services, automated systems, IoT devices, and online shopping activities are some other factors expected to further fuel growth of the target market over the forecast period.

Increasing investment for research and development activities for developing cost effective solutions for various industries by players operating in the target market and rising strategic merger and acquisitions in order to enhance their offerings and global footprint. For example: Virtustream acquired by EMC in order to expand its cloud services.

However, lack of security in cloud and server based services is a key factor expected to restrain growth of the global market over the forecast period.

Ongoing trend observed in the target market is rising preference towards cloud computing as increasing number of cloud providers, NetApp, and EMC.

Technological advancements for storage, security, and recovery of huge volume of data are expected to create potential revenue opportunities for players operating in the global market over the forecast period.

Global Next-Generation Data Storage Market: Segment Analysis

Among the storage system segments, cloud storage segment is expected to register significant growth in the global market over the forecast period, owing to its advanced features and benefits.

Among the storage architecture segments, the file and object-based storage segment is expected to register significant share in the global market over the forecast period.

Among the industry vertical segments, the IT & Telecommunication segment is expected to register highest market share in the global market over the forecast period, owing to increasing demand for advanced data storage.

Global Next-Generation Data Storage Market: Regional Analysis

The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to increasing technological advancements, huge number of unstructured data, and rising demand for secure, and cost-efficient storage infrastructure among various industries in the region. In addition, early adopter of advanced data storage technologies across various countries in this region. The market in Europe is expected to register second-highest market share in the global market.

The market in Asia Pacific is expected to register significant growth in the target market, owing to increasing demand for advanced data storage systems and presence of major players across various countries in this region.

Global Next-Generation Data Storage Market Segmentation:

Segmentation by storage architecture:

File and Object-based Storage
Block Storage

Segmentation by storage system:

Network-attached Storage
Direct-attached Storage
Cloud Storage
Unified Storage
Storage Area Network
Software-defined Storage

Segmentation by industry vertical:

Banking, Financial Services, and Insurance (BFSI)
Retail
IT & Telecommunication
Healthcare
Government
Education
Media & Entertainment
Others (Retail, Corporates, Aerospace, Manufacturing, Energy & Utilities)