Next Generation Data Storage Technologies Market Size was valued at USD 86.21 Billion in 2023. The Next Generation Data Storage Technologies industry is projected to grow from USD 92.330 Billion in 2024 to USD 149.24 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.19% during the forecast period (2024 - 2032). One of the key market drivers propelling the market for next-generation data storage technologies is the growing adoption of IoT in sectors like healthcare, manufacturing, and retail, which supports cloud computing. Additionally, the industry is positively impacted by rising urbanization, an increase in investments, lifestyle changes, and higher consumer spending.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Internet of Things (IoT), the newest emerging technology, generates enormous amounts of data from connected devices like smartphones, tracking devices, car applications, and social media. This has led to increased demand for next-generation data storage to store and manage the massive amounts of data generated from these channels. The demand for next-generation data storage is being driven by the adoption of IoT technology across many industries for industrial applications like predicting agricultural yields and equipment failure, forecasting weather, and enabling autonomous driving. These applications generate significant volumes of sensitive data. Organisations including Hewlett Packard Enterprise, Hitachi, Huawei, IBM, and Dell Technologies are heavily investing in next-generation data storage technology to gain a greater share of the currently rising data storage market.
The highest memory operations and data security levels are necessary for industrial applications because they are frequently at the forefront of critical systems, such as those in the aerospace & defense and healthcare industries, and they cannot afford to have any room for uncertainty or error. In industrial applications, flash memory is displacing HDDs. The grade of the memory must, however, be sufficient to meet the device's criteria when flash memory is used in industrial settings. Thus, non-volatile memory producers already sell flash memories tailored to particular applications. The majority of industrial applications employ single-level cell (SLC) NAND memory. SLC flash only stores one piece of data on each cell, making it exceedingly unlikely that any data would be corrupted or lost if there was a power outage while writing. Thus, driving the next generation data storage technologies market revenue.
The Next Generation Data Storage Technologies Market segmentation, based on types includes Flash Arrays, SDS and Holographic. The flash arrays segment dominated the market. Flash storage technology provides high-speed data access, minimal latency, and increased dependability compared to conventional storage systems. It has many uses in businesses, cloud service providers, and data centers. Flash storage is becoming more widely used as a result of its capacity to serve real-time analytics, VDI, and HPC workloads.
The Next Generation Data Storage Technologies Market segmentation, based on solution, includes Enterprise and Big Data. The enterprise category generated the most income. Images and videos are two common data types produced by various devices, including smartphones and tablets. Additionally, photos and videos are produced by embedded devices, machine-to-machine communication, and the Internet of Things (IoT) from security and advertising data stored in PC and server log files as well as enormous volumes of information. The improvement in data creation drives the increased need for global next-generation data storage technologies.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Next Generation Data Storage Technologies Market segmentation, based on memory, includes Atomic Scale, Phase Change and Racetrack. The atomic scale category generated the most income. Researchers are looking into storing and modifying data using individual atoms or atomic clusters. One method involves encoding data using the magnetic characteristics of specific atoms. These atoms can be arranged and manipulated to produce a high-density storage medium with potentially record-breaking capabilities.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific next generation data storage technologies market area will dominate this market due to the emergence of data hubs and commercial organizations. Data centers have become the most important end-user industry sector, deploying most storage devices and holding the largest market share for next-generation data storage technology. Industrial automation and aerospace industries are anticipated to experience the largest growth in the market for next-generation data storage technologies throughout the anticipated time frame.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe next generation data storage technologies market accounts for the second-largest market share. The main elements anticipated to increase demand for dependable, secure, and affordable storage infrastructure in the area are a quick rise in the number of laptop and smartphone users, an increase in disposable income, and growing consumer awareness. The regional market will probably benefit from the increasing number of small and medium-sized firms across various industries in the area. Further, the German next generation data storage technologies market held the largest market share, and the UK next generation data storage technologies market was the fastest growing market in the European region
The North America Next generation data storage technologies Market is expected to grow at the fastest CAGR from 2023 to 2032. Advanced data-storage technologies have been embraced by North America first. Both consumers and international businesses are heavily concentrated in the US. Additionally, there has been a sharp rise in the number of hyper-scale data centers, which cloud computing providers and social network service providers mostly use. The largest market share is supported by these elements in North America. Moreover, US next generation data storage technologies market held the largest market share, and the Canada next generation data storage technologies market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the next generation data storage technologies market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, next generation data storage technologies industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global next generation data storage technologies industry to benefit clients and increase the market sector. In recent years, the next generation data storage technologies industry has offered some of the most significant advantages to market. Major players in the next generation data storage technologies market attempting to increase market demand by investing in research and development operations include Dell Inc. (U.S.), IBM Corporation (U.S), VMware Inc. (U.S.), Hewlett-Packard Development Company (U.S.), Sandisk Corporation (U.S.), Micron Technology Inc. (U.S.), Nutanix (U.S.), NetApp (U.S.), Toshiba Corporation (Japan) and Quantum Corporation (U.S.).
For more than 25 years, SanDisk has been increasing the possibilities for data storage, assuring consumers and organizations that their data will always be dependable and accessible, even in the most difficult circumstances. Its products are trusted by customers worldwide and are utilised in cutting-edge data centers, innovative smartphones, tablets, and laptops. As a vertically integrated storage solution provider, we can produce cutting-edge, high-quality products more swiftly than our competitors. SanDisk storage solutions, from mobile devices to hyper-scale data centers, enable the amazing.
Nutanix Inc offers an enterprise cloud platform. It provides databases, big data analytics, virtual desktop infrastructure, and unified business applications. The company offers a variety of solutions, including databases, virtualization and cloud, business-critical apps, cloud-native, hybrid cloud, and consolidated storage services, among others. It benefits the industries of transportation, consumer goods, finance, healthcare, manufacturing, media, education, energy, retail, public sector, technology, and telecommunications.
Dell Inc. (U.S.)
IBM Corporation (U.S)
VMware Inc. (U.S.)
Hewlett-Packard Development Company (U.S.)
Sandisk Corporation (U.S.)
Micron Technology Inc. (U.S.)
Nutanix (U.S.)
NetApp (U.S.)
Toshiba Corporation (Japan)
Quantum Corporation (U.S.)
February 2023: With new partnerships and solutions like Dell Telecom Infrastructure Blocks for Red Hat, new Dell PowerEdge edge servers, a private wireless program, and expanded lab capabilities, Dell Technologies is assisting the telecommunications sector in hastening the adoption of open, cloud-native technologies.
September 2022: In particular for the financial core baking and Hospital Information Systems (HIS) situations, Huawei Technologies Co. Ltd. unveiled its new All-Flash storage portfolio, including SAN and NAS capabilities, with industry-leading reliability and performance. Additionally, Ocean Stor Dorado is the only active-active NAS solution available on the market, ensuring the continuity of file services.
July 2022: Second-generation smart solid-state drives (SSDs), an improved data storage system that uses much less energy and time to process data than previous models, were unveiled by Samsung Electronics Co.
May 2022: TerraMaster has unveiled a new eight-bay Direct-Attached Storage (DAS) device for customers who want centralized data storage. DAS is utilized locally, as opposed to NAS, by connecting cables directly to a PC or other device. Professional RAID storage with a 160TB capacity is available with the new TerraMaster D8-332.
Flash Arrays
SDS
Holographic
Enterprise
Big Data
Atomic Scale
Phase Change
Racetrack
North America
Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 86.21 Billion |
| Market Size 2024 | USD 92.33 Billion |
| Market Size 2032 | USD 149.245 Billion |
| Compound Annual Growth Rate (CAGR) | 6.19% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, Solution, Memory, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Dell Inc. (U.S.), IBM Corporation (U.S), VMware Inc. (U.S.), Hewlett-Packard Development Company (U.S.), Sandisk Corporation (U.S.), Micron Technology Inc. (U.S.), Nutanix (U.S.), NetApp (U.S.), Toshiba Corporation (Japan) and Quantum Corporation (U.S.) |
| Key Market Opportunities | Growing opportunity of the storage market in the BFSI sector |
| Key Market Dynamics | Provides cost-efficient storage capabilities that are highly scalable and reliable |
Next Generation Data Storage Technologies Market Highlights:
Frequently Asked Questions (FAQ) :
The Next Generation Data Storage Technologies Market size was valued at USD 86.21 Billion in 2023.
The global market is projected to grow at a CAGR of 6.19% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the global market
The key players in the market are Dell Inc. (U.S.), IBM Corporation (U.S), VMware Inc. (U.S.), Hewlett-Packard Development Company (U.S.), Sandisk Corporation (U.S.), Micron Technology Inc. (U.S.), Nutanix (U.S.), NetApp (U.S.), Toshiba Corporation (Japan) and Quantum Corporation (U.S.).
The flash arrays category dominated the market in 2022.
The enterprise category had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
