Data Storage Market is valued at USD 61.20 Billion in 2021 and is expected to reach USD 126.07 Billion by 2028 with a CAGR of 12.80% over the forecast period.
The Detailed Market intelligence report on the Data Storage Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Data Storage Market place for the forecast 2022– 2028.
The manner in which banks work has altered considerably over the course of the past few years. The banks all over the world are digitizing each transaction and lowering the extraneous paperwork to streamline the processes. This idea of digital banking has generated opportunities all over data storage market.
The paperwork is steadily turning out to be defunct, and the globe is quickly shifting towards digitization. In 2016, in the United Nations single-handedly, 400,000 papers were digitized, and the procedure of digitization is still in progress. Now, there are a number of big and small agencies in the globe that are digitizing their info which is turning out to be a boon to the data storage market share that had already created an striking worth of $35–40 billion.
The data storage market is divided on the basis of industry vertical, storage type, and region. On the basis of storage type, it is divided into enterprise storage and consumer storage. The consumer storage section is additionally divided into memory card, optical disk, solid state devices, USB flash drives, and hard disk drive (HDD). The enterprise storage section is divided into cloud-based storage, flash storage, software defined storage, hard disk drive (HDD), and hyper-converged infrastructure. On the basis of industry vertical, the market is divided into media & entertainment, education, IT & telecommunications, defense and aerospace, banking, financial services and insurance (BFSI), healthcare and life sciences, and others. On the basis of region, the data storage market is divided into Europe, North America, LAMEA, and Asia-Pacific.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 61.20 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 126.07 Billion|
|Tables, Charts & Figures:||175|
|Data Storage Companies||Samsung Group, Hitachi Data System Corporation, Amazon Web Services, Inc, IBM Corporation, Microsoft Corp., Alphabet, Inc., Toshiba & Others|
By Data Storage, By Devices, By Architecture, By Application
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
The major players in the global data storage market are,
Rising Technical Advancements To Power Growth In The Market
Cloud computing is not a new invention anymore, and a number of agencies have subscribed already to the cloud platforms. Now as per the Global Cloud Computing Scorecard by BSA, cloud computing has entered in 24 nations, and 80% of the IT sector share is owned by the same. Now, these cloud platforms require data storage machines such as internal and external hard drives in their machines, which is the most effectual driving factors that adds up to the growth of data storage market share.
Users are creating a flabbergasting quantity of media files and data annually, particularly due to the free audio and video data available on the Internet and easy accessibility of camera in mobile phones. Moreover, owing to the prevalence and advent of IoT (Internet of Things), the amount of personal info is only going to rise. This increasing mobile content is generating a revenue opportunity for the providers in the global market.
North America Ruled The Market For Data Storage, Adding Up For Almost 40% Income Share Of The Data Storage Market
North America ruled the market for data storage, adding up for almost 40% income of the data storage market share. This can be credited to the huge quantity of unstructured data all over different sectors and the requirement for economic and secure solutions for amassing data. Easy availability of molecular storage and technologically advanced products such as 3D is expected to additionally power development prospects of the market in North America over the coming period.
Asia Pacific is claimed to see the quickest development for data storage in the market over the coming period. A quick elevation in the number of smartphone and laptop users, increase in disposable revenue, and increasing user awareness are the major factors predicted to result in an elevated requirement for the secure, reliable, and cost-efficient storage design in the area.
Middle East and Africa
We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination interested? please email us email@example.comJOIN US
BrandEssence® Market Research and Consulting Pvt ltd.
124, City Road, London EC1V 2NX
© Copyright 2023-24 BrandEssence® Market Research and Consulting Pvt ltd. All Rights Reserved | Designed by BrandEssence®