Storage in Big Data Market

Growing amount of data is driving the market growth

Market CAGR for storage in big data is being driven by the increasing amount of big data for data storage. A significant amount of data has been produced due to increasing digitalization and the Internet of Things (IoT). Due to the exponential expansion in data produced by large-scale industries, including medical records, banking, financial services, e-commerce, videos, and other media, businesses had to adjust their storage capacities to preserve memory storage. As a result, there is a greater requirement for investment in storing and administrating such data. 

For instance, global spending on big data and analytics solutions will rise by 10.1% by 2020. According to the prediction, a CAGR of 12.8% was predicted for Big Data by 2025. Network-attached storage, directly attached storage, software-defined storage, cloud storage, and server area networks are just a few storage systems and services used to store and manage data. As a result, the growth of Big Data is promoting market expansion.

Cloud computing is no longer a novel tool; many businesses have already signed up for cloud services. According to the Global Cloud Computing Scorecard published by BSA, The Software Alliance, cloud computing has been adopted in 24 nations and accounts for 80% of the global IT market. The primary factor driving the expansion of storage in the big data industry is the demand for external and internal hard drives, which are now required for these cloud services' systems. The rising popularity of highly virtualized infrastructure-based hybrid cloud storage systems, where digital data is kept in logical pools.

The recording of information on a storage medium is known as data storage. The market for storage in big data is expanding due to businesses adopting centralized and mini mobile data centers more frequently, as well as the rising popularity of cloud computing. Thus, driving the storage in big data market revenue.

The exponential growth of data generated globally is a primary driver for the Global Storage in Big Data Market Industry. In 2024, the market is projected to reach 7.9 USD Billion, largely due to the increasing volume of structured and unstructured data from various sources such as social media, IoT devices, and enterprise applications. This surge necessitates advanced storage solutions that can efficiently manage and analyze vast datasets. As organizations seek to harness insights from this data, the demand for scalable storage solutions is likely to escalate, indicating a robust growth trajectory for the industry.

The Global Storage in Big Data Market Industry is poised for substantial growth, with projections indicating a market size of 7.9 USD Billion in 2024 and an anticipated increase to 31.1 USD Billion by 2035. This growth trajectory reflects a compound annual growth rate of 13.26% from 2025 to 2035, driven by factors such as rising data volumes, technological advancements, and increased cloud adoption. These figures illustrate the dynamic nature of the market and highlight the potential for investment and innovation in storage solutions.

Innovations in storage technologies, such as cloud storage, distributed file systems, and data lakes, are propelling the Global Storage in Big Data Market Industry forward. These advancements enable organizations to store and process large volumes of data more efficiently and cost-effectively. For instance, cloud storage solutions allow for flexible scaling and reduced infrastructure costs. As businesses increasingly adopt these technologies, the market is expected to expand significantly, with projections indicating a growth to 31.1 USD Billion by 2035. This trend suggests that ongoing technological evolution will play a crucial role in shaping the future of data storage.

The shift towards cloud computing is a significant factor driving the Global Storage in Big Data Market Industry. Organizations are increasingly migrating their data storage needs to the cloud due to its scalability, accessibility, and cost-effectiveness. This transition allows businesses to leverage advanced analytics and machine learning capabilities without the burden of maintaining physical infrastructure. As a result, the market is anticipated to experience a compound annual growth rate of 13.26% from 2025 to 2035. This growth reflects the ongoing trend of digital transformation across various sectors, highlighting the importance of cloud solutions in modern data management.

The growing emphasis on data privacy regulations and security standards is influencing the Global Storage in Big Data Market Industry. Organizations are compelled to adopt robust storage solutions that ensure compliance with regulations such as GDPR and CCPA. This necessity drives investments in secure storage technologies that protect sensitive data from breaches and unauthorized access. As businesses prioritize compliance and security, the demand for advanced storage solutions is likely to rise, further contributing to the market's growth. This trend underscores the critical role of regulatory frameworks in shaping data storage strategies.

The increasing utilization of big data analytics across various industries is a key driver for the Global Storage in Big Data Market Industry. Organizations are leveraging data analytics to gain insights, enhance decision-making, and improve operational efficiency. Sectors such as healthcare, finance, and retail are particularly focused on harnessing big data to drive innovation and competitive advantage. As the demand for analytics continues to grow, so does the need for effective storage solutions that can support these applications. This trend suggests a symbiotic relationship between big data analytics and storage solutions, fueling market expansion.

By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American storage in the big data area will dominate this market due to the country's regional concentration of international suppliers and consumers. Google also declared intentions to invest USD 9.5 billion in data centers and offices nationwide in April 2022. 14 data centers will be constructed or expanded by the internet giant in US states, including Georgia, Texas, New York, and California, among others.

Further, the major countries studied in the market report are U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 4: STORAGE IN BIG DATA MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe’s storage in the big data market accounts for the second-largest market share. The European Union is making investments, moving quickly, and digitizing local firms. According to a study by The Digital Economy and Society Index, the EU plans to increase the number of ICT workers from 8.9 million in 2021 to at least 20 million by 2030. (DESI). There will be a need for high-storage platforms due to the expanding need for digitalization in the IT sector.

Further, German storage in the big data market held the largest market share, and UK storage in the big data market was the fastest-growing market in the European region.

The Asia-Pacific Storage in Big Data Market is estimated to expand at a rapid rate from 2023 to 2032. Data centers changed due to the pandemic as they developed solutions supported by Big Data, IoT, 5G, and cloud computing. For instance, Pure Storage opened a research and development facility in Bengaluru, India. Pure Storage is a data management and software service company based in California. As a result, this is giving the local market several opportunities.

Moreover, China’s storage in the big data market held the largest market share, and Indian storage in the big data market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the storage in the big data market grow even more. Market participants are also undertaking different 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, storage in the big data industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global storage in the big data industry to benefit clients and increase the market sector. In recent years, storage in the big data industry has offered some of the most significant advantages to medicine. Major players in the storage in the big data market, including Hitachi Data Systems Corporation (U.S.), Microsoft Corporation (U.S.), Teradata Corporation (U.S.), Google Inc. (U.S.)., and others, are attempting to increase market demand by investing in research and development operations.

Hewlett Packard (HP) is a global American information technology corporation headquartered in Palo Alto, California. HP created and sold various hardware components, related services, and software to consumers, medium-sized and small businesses (SMBs), big organizations, and customers in the health, government, and education sectors. In May 2021, HP Enterprise unveiled advancements that will alter HP storage in the software-defined data and cloud-native services market. The new solutions can take advantage of the edge-to-cloud data explosion, the silos and complexity that epidemic data creates, boost agility and creativity, and reduce corporate risk.

StarWind is a storage virtualization service provider that aims to supply all the building pieces needed to develop a full-stack data center infrastructure. Storage management and storage area network software provision, a hyper-converged platform that unifies commodity servers, discs, and flash, with multiple options for hypervisors and software-defined storage, cloud gateways, and more are among the services provided by the company, allowing businesses to build a flexible, easily scalable, and cost-effective information technology infrastructure. In July 2021, StarWind introduced SAN and NAS, a pre-configured Linux-based solution that allowed users to convert existing hypervisor servers into high-performance storage applications.

Users may reinvent their hardware as software-defined storage without paying extra or purchasing a real NAS/SAN.