Enterprise Storage Market Growing at a CAGR of 15.87% During 2016 to 2020

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16 Dec, 2016, 19:30 IST

PUNE, India, December 16, 2016 /PRNewswire/ --

The global enterprise storage market was valued at USD 28 billion in 2015 and is expected to surpass USD 58 billion by 2020; the analysts forecast global enterprise storage market to grow at a CAGR of 15.87% during the period 2016-2020.

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The global enterprise storage market analyst says the latest trend gaining momentum in the market is demand for SDS. SDS is data storage software that helps in data management, data protection, data placement, and I/O capabilities, independent of the underlying storage infrastructure. It helps to increase flexibility, scalability, and automation capabilities of an enterprise storage infrastructure. SDS reduces the overall storage costs for enterprises by allocating storage resources efficiently. The demand for efficient enterprise storage has increased worldwide, which, in turn, has resulted in an increased demand for SDS.

The following companies are the key players in the global enterprise storage market: Dell, EMC, Hitachi Data Systems, HP, IBM, and NetApp. Other prominent vendors in the market are: American Megatrends, DataDirect Networks, Dot Hill, Fujitsu, imation, Lenovo, NEC, Netgear, nfina, Nimble Storage, Nimbus Data, Oracle, Overland Storage, Pure Storage, Samsung, SanDisk, Seagate, SolidFire, Tegile, Toshiba, Violin-memory, Western Digital, and XIO Technologies. Order a copy of Global Enterprise Storage Market 2016-2020 research report at http://www.reportsnreports.com/purchase.aspx?name=783687.

The high adoption of flash-based storage will gain traction in enterprise storage market over the predicted period. SSD storage, mostly known as flash storage, offers greater efficiency compared to traditional HDD storage. With the growing use of mission critical applications, the use of flash-based storage systems will aid in achieving 40 times better than hard disk input/output (I/O) performance and around 50% reduction in power consumption.

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