U.S (New York) – New research study titled “Next Generation Storage Devices Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
Next generation storage technology is an advanced technology that provides improved data storage and management across various industry. With increase in Internet usage, smartphone adoption, and other means of communication such as social media, large amount of unstructured data is getting cumulated without efficient data handling and storage. Next generation storage devices are upgraded versions of the conventional data storage devices that allow data storage with high capacity, flexibility, adaptability, reliability, and at lower costs. The ever-growing need of storing, managing, and analyzing the massive amount of data created drives the market growth. The global next generation storage devices industry is driven by technological advancements, increased smartphone penetration, rise in online transactions, lower costs of cloud computing platforms, and high Internet penetration worldwide.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Cloud storage deployment is easily available in the market, and it offers complete ownership of the storage space at lower costs. In addition, solid-state storage is an emerging technology, which uses integrated circuits (ICs) to store digital data that eliminates the disadvantages of conventional data storage, such as high turnaround time, overheated production, high battery consumption, and shorter lifespans. Cloud-based storage and solid-state storage are expected to witness significant adoption during the forecast period. However, lack of security provisions in server-based and cloud storage, high costs of solid-state drives, and high initial investment for technological development hinder the market growth.
The global next generation storage devices market is segmented on the basis of storage technology, storage system, industry vertical, and geography. The storage technology segment consists of magnetic storage, solid-state storage, cloud storage, and hybrid array. Storage systems analyzed in this report are network-attached storage, direct-attached storage, cloud storage, unified storage, storage area network, and software-defined network. Further, based on industry, the global next generation storage devices market is divided into banking, financial services, and insurance (BFSI); retail; IT & telecommunication; healthcare; government; education; media & entertainment; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS
In-depth analysis of the global next generation storage devices market and dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2014 to 2022 is provided to assist strategists and stakeholders to capitalize on the prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the next generation storage devices market, and provides a clear understanding of the factors that influence market entry and expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analyses of the trends, subsegments, and key revenue pockets are provided.
Detailed analyses of the key players operating in the next generation storage devices industry and their business strategies are anticipated to assist stakeholders to take informed business decisions.
KEY MARKET PLAYERS
Dell, Inc.
HPE Company
Hitachi Ltd.
IBM Corporation
NetApp, Inc.
Nutanix, Inc.
Oracle StorageTek
Pure Storage, Inc.
Tintri, Inc.
Toshiba Corp.
Other key players operating in the market include Carbonite, NetApp, SugarSync, Dropbox, Inc., JustCloud.com, Norton, SpiderOak, OpenDrive, ADrive, Reduxio, AMI StorTrends, Tegile Systems, IDrive, Inc., and Microsoft Corporation.
Next Generation Storage Devices Market Key Segments:
By Storage Technology
Magnetic Storage
Solid-state Storage
Cloud-based Storage
Hybrid Array
By Storage System
Network-attached Storage
Direct-attached Storage
Cloud Storage
Unified Storage
Storage Area Network
Software-defined Storage
By Industry Vertical
BFSI
Retail
IT & Telecommunication
Healthcare
Government
Education
Media & Entertainment
Others
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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