NEW YORK, Nov. 9, 2016 /PRNewswire/ -- "Next-generation data storage market is expected to grow at a CAGR of 16.76% between 2016 and 2022."
The next-generation data storage market has entered the growth phase and is expected to grow further in the coming years. The market is expected to be valued at USD 144.76 billion by 2022, at a CAGR of 16.76% between 2016 and 2022. The drivers for this market are the increasing volume of digital data, increasing proliferation of smartphones, laptops, and tablets, and growth of the Internet of Things (IoT) market. The major restraint for this market is the lack of data security in cloud and server-based services.
"The next-generation data storage market for cloud storage is expected to grow at the highest rate during the forecast period."
The market for cloud storage is expected to grow at the highest CAGR during the forecast period. The major factors driving the next-generation data storage market for cloud storage systems include increasing demand for hybrid cloud storage, growing need for enterprise mobility, and ease of deployment of cloud storage solutions.
"File- and object-based storage (FOBS) accounted for the largest share of the next-generation data storage market in 2015."
The demand for FOBS is growing because of its requirement in data center trends such as big data analytics, cloud storage technology, and so on. FOBS offers easy sync, share, and distribution of data. Through data management software, large amount of data can be stored at low cost on a read-only basis. Therefore, FOBS accounted for the largest share of the next-generation data storage market in 2015.
"RoW is expected to be the fastest-growing market for next-generation data storage during the forecast period."
The market in RoW is expected to grow at the highest CAGR because Brazil and other Middle Eastern countries are expected to grow considerably in manufacturing, energy, and other industries, generating demand for data storage.
Breakdown of Primaries
- By Company Type: Tier 1—33 %, Tier 2—45%, and Tier 3—22%
- By Designation: C-level Executives—33%, Directors—25%, and Others—42%
- By Region: North America—35%, Europe—29%, APAC—24%, and RoW—12%
The major players profiled in this report include:
- Dell Inc. (U.S.)
- HPE Company (U.S.)
- NetApp, Inc. (U.S.)
- IBM Corp. (U.S.)
- Hitachi Ltd. (Japan)
- Toshiba Corp. (Japan)
- Pure Storage Inc. (U.S.)
- Nutanix, Inc. (U.S.)
- Tintri, Inc. (U.S.)
- Simplivity Corp. (U.S.)
- Scality, Inc. (U.S.)
The study segments in the next-generation data storage market report are: storage system which includes direct-attached storage, network-attached storage, and storage area network, software-defined storage, cloud storage, and unified storage; storage architecture which consists of file- and object-based storage and block storage; and storage technology which includes magnetic storage, solid-state storage, and others including holographic storage and optical storage.
The study also covers end-user industry and geographic forecast with regard to four main regions, namely, North America, Europe, Asia-Pacific, and RoW.
Reasons to buy the report
1. This report segments the next-generation data storage market comprehensively and provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market. The Competitive Landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions in the next-generation data storage market
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