05 May 2022
The global Data Storage Market is going to grow in the coming years and is anticipated to show an incessant growth with the increased demand all over the world. Data storage here refers to the collection of information done by the usage of technologies and methods on optical, silicon-based or electromagnetic storage media.
Further, the data storage devices retain the data on these devices or computers. There are many prevalent forms of storing date. These are object storage, block storage or file storage. Storage is a major component when it comes to all the other digital devices as the businesses are relying on them to preserve the information where it ranges from personal information to the information which is critical to business. This is a major opportunity that is opening up for the data storage market and its growth.
Data Storage Market: Key Drivers
The businesses specifically speaking about the IT organizations here are scaling out the architecture of this market. There is a great need for virtualization and infrastructure which is hyper-converged for improving the efficiency of the infrastructure. This is going to boost the market of data storage in the coming years. One big restraining factor here however is the lack of funds there to upgrade the infrastructure of traditional storage. Particularly in the countries that are underdeveloped or developing, the cost becomes a major factor out there for the adoption of this market. There is an exponential and sizable growth in the data market and that is accelerating the need to store that data. The field of cloud computing, mobile services and applications related to social media are dominating the market here in data storage market.
The market players have been focusing on the development of flexible, effective and scalable cloud platforms as information volumes grow across the sector and the customers look for the improved options for storing and helping the consumers rise. In order to leverage the storage capabilities of the cloud, the market players have found a way to innovate and increase storage capabilities such as the techniques of crustal etching. There is a need to combine big data analytics and cloud storage which allows the data storage companies which belong to the next generation for establishing online banking and internet shopping infrastructure.
The data storage market size is increasing as there is a demand which is yet unmet for delivering high-speed and robust solutions because of the increasing demand for the digitalization of data and the human labor minimalization of human labor. There is however a technological advancement wave that can only cater to markets that do not have a restriction on costs. The markets which are sensitive to economics as of now cannot survive in the current scenario of data storage. The demand however is coming from the more developed markets as they do not cost inclined and data is more important to them than anything else in the world.
Revenue: $184 Billion
Microsoft Corporation is a USA Based multinational technology Company. Which was founded in 1975. Companies Headquartered at 1 Microsoft Way, Redmond, Washington, 98052, United States. The company manufactures computer software, household appliances, personal computers, and related services. The most well-known software products are the Microsoft Windows operating system series, Microsoft Office suites, and Internet Explorer and Edge web browsers.
Revenue: $57 Billion
International Business Machines Corporation (IBM) is a US Based multinational technology Company. Which was founded in 1911. Companies Headquartered at 1 New Orchard Road, Armonk, New York, 10504, United States. IBM manufactures and sells computer hardware, middleware, and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. IBM is also a large research organization. IBM Inventions include the automated teller machine (ATM), the floppy disk, the hard disk drive, the magnetic stripe card, the relational database, the SQL programming language, and the UPC barcode.
3. Hewlett Packard Enterprise
Revenue: $27 Billion
The Hewlett Packard Enterprise (HPE) is a US BAsed multinational information technology company. Which was founded in 2015. Companies Headquartered at 1701 E Mossy Oaks Road, Spring, Texas, 77389, United States. It is a business-oriented organization dedicated to servers, storage, networking, containerization software, and consulting and support. HPE ranked 107th on the 2018 Fortune 500 list of the largest companies in the United States in terms of total revenue.
Revenue: $12 Billion
VMware, Inc. is a US Based virtualization technology and cloud computing company. Which was founded in 1998. Companies Headquartered at 3401 Hillview Avenue, Palo Alto, California, 94304, United States. VMware desktop software runs on Microsoft Windows, Linux, and macOS, while VMware ESXi, an enterprise software hypervisor for servers, runs directly on server hardware without the need for an additional underlying operating system. Company Deals with Cloud, mobility, networking, and security offerings to form a digital foundation that powers the apps, services, and experiences that are transforming the world.
Revenue: $6 Billion
NetApp, Inc. is a US Based hybrid cloud data services and data management company. Which was founded in 1992. Companies Headquartered at 3060 Olsen Drive, San Jose, California, 95128, United States. NetApp provides software, systems, and services for managing and sharing data on-premises and in private and public clouds around the world.