Next-Generation Data Storage Market Forecasts to 2030 - Global Analysis By Storage System (Direct-attached Storage (DAS), Network-attached Storage (NAS), Storage Area Network (SAN) and Other Storage Systems), Storage Medium (Hard Disk Drive (HDD), Solid-state Drive (SSD), Magnetic Tape, All-Flash Array, Hybrid Flash Array and Other Storage Mediums), Storage Architecture, Deployment Type, End User and By Geography
Estimated Year Value (2023)
US $104.50 BN
Projected Year Value (2030)
US $269.62 BN
CAGR (2023 - 2030)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Next-Generation Data Storage Market is accounted for $104.50 billion in 2023 and is expected to reach $269.62 billion by 2030 growing at a CAGR of 14.5% during the forecast period. Next-generation data storage refers to a group of cutting-edge storage techniques and products developed to meet the changing requirements of organizations managing large amounts of data and a variety of workloads. Comparing with the conventional storage systems, next-generation data storage facilitates real-time data processing, seamless data integration, and quicker data access by providing higher performance, improved scalability, and increased energy efficiency.
According to a technology roadmap put forward by the Advanced Storage Technology Consortium, the capacity of HDDs will rise to 100TB by 2025, enabled by new writing technologies such as Shingled Magnetic Recording, Perpendicular Magnetic Recording, Enhanced Caching, and even installing helium inside the casing.
Growing use of cloud computing
Data storage, access, and management have undergone radical changes as a result of the widespread adoption of cloud computing services across industries. Scalable, dependable, and high-performance storage solutions are necessary for cloud-based applications and services. To meet the changing demands of cloud-based environments, next-generation data storage technologies are required, such as distributed storage systems, software-defined storage (SDS), and object storage. Moreover, these solutions make it easy to move, replicate, and move data between different cloud platforms.
Compatibility and data migration issues
Data migration and compatibility problems may arise when switching from legacy data storage systems to next-generation solutions. Data format inconsistencies, risks of data loss, or disruptions during migration may be encountered by organizations that have invested in traditional storage infrastructures. Moreover, organizations frequently face compatibility challenges when integrating new storage solutions with existing infrastructures because of the quick evolution of storage technologies. When moving from legacy systems to advanced storage platforms, data migration challenges appear, which may result in discrepancies in data formats, risks of data loss, or disruptions during the migration process.
Modernization of storage technologies
The market for data storage is experiencing continued growth thanks to innovations in storage technologies like Non-Volatile Memory Express (NVMe), storage-class memory, and shingled magnetic recording (SMR). Furthermore, Businesses that can use these technological advancements to deliver storage solutions that are quicker, more dependable, and more energy-efficient can gain an advantage. A market opportunity exists for utilizing these developments to create high-performance storage arrays and cutting-edge storage systems.
Sustainability and environmental issues
Environmental and sustainability issues present a serious threat to the Market. Data centers and storage infrastructures use a lot of energy, which increases carbon emissions and has a negative impact on the environment as data storage needs keep growing. Moreover, Data storage facilities are increasing their energy needs as a result of the rapid growth of cloud computing and data-intensive applications. The disposal of outdated or end-of-life storage hardware can also add to the buildup of electronic waste (e-waste), aggravating already difficult environmental problems.
The market for Next-Generation Data Storage was significantly impacted by the COVID-19 pandemic. Scalable, effective, and secure data storage solutions are in greater demand due to the rise in remote work, online learning, and digitalization. The use of cloud-based storage and data management services increased quickly as organizations tried to manage the growing volume of data. Contrarily, supply chain disruptions and economic turbulence caused a temporary slowdown in hardware sales and infrastructure investments. However, as organizations concentrated on boosting their resilience and adaptability in the face of upcoming challenges, the pandemic also accelerated innovations in data storage technologies, driving the market toward advancements like edge computing and hybrid cloud solutions.
The on-premises segment is expected to be the largest during the forecast period
During the forecast period, the on-premises segment is anticipated to have the largest share. Businesses that have complete control over their data and storage infrastructure can put customized security measures in place, guaranteeing data sovereignty and conformity with industry-specific regulations in this segment. Moreover, data breaches and unauthorized access are reduced by the enhanced security and privacy features. Due to the fact that data is stored locally, on-premises storage also provides low latency and quick data access, speeding up the retrieval of crucial information. These benefits make on-premises data storage a desirable option, particularly for sectors dealing with sensitive data and demanding data privacy regulations.
The file- & object-based storage segment is expected to have the highest CAGR during the forecast period
The file- & object-based storage segment is anticipated to witness the fastest CAGR growth during the forecast period. In the market, there has been a notable increase in the file and object-based storage segments. The adoption of big data analytics, the Internet of Things (IoT), and cloud computing, all of which call for scalable and adaptable storage solutions, can be credited with this growth. Its simplicity and usability make file-based storage, like network-attached storage (NAS), ideal for small to medium-sized businesses. File-based storage is still widely used. Moreover, file and object-based storage is well-positioned to continue growing and meeting the varied storage needs of contemporary enterprises as companies create and manage ever-growing datasets.
Region with largest share:
During the forecast period, North America is anticipated to hold the largest market share for next-generation data storage. Advanced data-storage technologies were first adopted in North America. Both consumers and multinational corporations are heavily concentrated in the United States. Moreover, hyperscale data centers have also proliferated quickly, and they are primarily used by cloud computing providers and social network service providers in this region. Over the anticipated period, the easy accessibility of technologically advanced products like 3D printing and molecular storage is likely to further fuel the growth prospects of the North American market.
Region with highest CAGR:
The Next-Generation Data Storage market in Asia Pacific is anticipated to experience the highest CAGR during the forecast period. The region's rising demand for next-generation data storage systems is significantly influenced by rapid urbanization and increased R&D spending by providers of next-generation data storage solutions. China and Japan are both experiencing rapid economic growth. Businesses in these nations have embraced cutting-edge technology to thrive in fierce competition. Moreover, companies in this region are investing in enhancing their IT capabilities in order to stay competitive and improve operational efficiency, operational outcomes, and financial profitability.
Key players in the market
Some of the key players in Next-Generation Data Storage market include Adesto Technologies Corporation., Avalanche Technology, Cypress Semiconductor Corporation., Data Direct Networks, Dell Technologies Inc., Everspin Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Company, Hitachi, Ltd., Huawei Technologies Co., Ltd., IBM Corporation, International Business Machines Corporation, Micron Technology Inc., NXP Semiconductors, Pure Storage, Inc, Samsung, Sk Hynix Inc., Spin Memory Inc., Texas Instruments Incorporated, Toshiba Corporation and Western Digital Corporation.
In July 2022, Samsung Electronics Co. unveiled a second-generation smart solid-state drive (SSD), an upgraded data storage device that significantly reduces the computer processing time and energy consumption.
In May 2022, Terra Master introduced a new eight-bay Direct-Attached Storage (DAS) device for customers who require centralized data storage. Unlike NAS, DAS is used locally via cables that connect directly to a PC or other device. The new TerraMaster D8-332 is a professional RAID storage device with up to 160TB of capacity.
In September 2020, Pure Storage acquired Portworx, a provider of cloud-native storage and data-management platform based on Kubernetes, for $370 million.
Storage Systems Covered:
• Direct-attached Storage (DAS)
• Network-attached Storage (NAS)
• Storage Area Network (SAN)
• Other Storage Systems
Storage Mediums Covered:
• Hard Disk Drive (HDD)
• Solid-state Drive (SSD)
• Magnetic Tape
• All-Flash Array
• Hybrid Flash Array
• Other Storage Mediums
Storage Architectures Covered:
• File- & Object-based Storage
• File Storage
• Object Storage
• Block Storage
• Other Storage Architectures
Deployment Types Covered:
• Other Deployment Types
End Users Covered:
• BFSI (Banking, Financial Services and Insurance)
• Consumer Goods and Retail
• Healthcare and Life Sciences
• Media and Entertainment
• Government Bodies
• Cloud Service Providers
• Telecom Companies
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Next-Generation Data Storage Market, By Storage System
5.2 Direct-attached Storage (DAS)
5.3 Network-attached Storage (NAS)
5.4 Storage Area Network (SAN)
5.5 Other Storage Systems
6 Global Next-Generation Data Storage Market, By Storage Medium
6.2 Hard Disk Drive (HDD)
6.3 Solid-state Drive (SSD)
6.4 Magnetic Tape
6.5 All-Flash Array
6.6 Hybrid Flash Array
6.7 Other Storage Mediums
7 Global Next-Generation Data Storage Market, By Storage Architecture
7.2 File- & Object-based Storage
7.3 File Storage
7.4 Object Storage
7.5 Block Storage
7.6 Other Storage Architectures
8 Global Next-Generation Data Storage Market, By Deployment Type
8.5 Other Deployment Types
9 Global Next-Generation Data Storage Market, By End User
9.2 BFSI(Banking, Financial Services and Insurance)
9.4 Consumer Goods and Retail
9.5 Healthcare and Life Sciences
9.6 Media and Entertainment
9.7 Government Bodies
9.8 Cloud Service Providers
9.9 Telecom Companies
9.10 Other End Users
10 Global Next-Generation Data Storage Market, By Geography
10.2 North America
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.6 South America
10.6.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.5 Other Key Strategies
12 Company Profiling
12.1 Adesto Technologies Corporation.
12.2 Avalanche Technology
12.3 Cypress Semiconductor Corporation.
12.4 DataDirect Networks
12.5 Dell Technologies Inc.
12.6 Everspin Technologies Inc.
12.7 Fujitsu Ltd.
12.8 Hewlett Packard Enterprise Company
12.9 Hitachi, Ltd.
12.10 Huawei Technologies Co., Ltd.
12.11 IBM Corporation
12.12 International Business Machines Corporation
12.13 MicronTechnology Inc.
12.14 NXP Semiconductors.
12.15 Pure Storage, Inc.
12.17 SK HYNIX INC.
12.18 Spin Memory Inc.
12.19 Texas Instruments Incorporated.
12.20 Toshiba CORPORATION
12.21 Western Digital Corporation
List of Tables
1 Global Next-Generation Data Storage Market Outlook, By Region (2021-2030) ($MN)
2 Global Next-Generation Data Storage Market Outlook, By Storage System (2021-2030) ($MN)
3 Global Next-Generation Data Storage Market Outlook, By Direct-attached Storage (DAS) (2021-2030) ($MN)
4 Global Next-Generation Data Storage Market Outlook, By Network-attached Storage (NAS) (2021-2030) ($MN)
5 Global Next-Generation Data Storage Market Outlook, By Storage Area Network (SAN) (2021-2030) ($MN)
6 Global Next-Generation Data Storage Market Outlook, By Other Storage Systems (2021-2030) ($MN)
7 Global Next-Generation Data Storage Market Outlook, By Storage Medium (2021-2030) ($MN)
8 Global Next-Generation Data Storage Market Outlook, By Hard Disk Drive (HDD) (2021-2030) ($MN)
9 Global Next-Generation Data Storage Market Outlook, By Solid-state Drive (SSD) (2021-2030) ($MN)
10 Global Next-Generation Data Storage Market Outlook, By Magnetic Tape (2021-2030) ($MN)
11 Global Next-Generation Data Storage Market Outlook, By All-Flash Array (2021-2030) ($MN)
12 Global Next-Generation Data Storage Market Outlook, By Hybrid Flash Array (2021-2030) ($MN)
13 Global Next-Generation Data Storage Market Outlook, By Other Storage Mediums (2021-2030) ($MN)
14 Global Next-Generation Data Storage Market Outlook, By Storage Architecture (2021-2030) ($MN)
15 Global Next-Generation Data Storage Market Outlook, By File- & Object-based Storage (2021-2030) ($MN)
16 Global Next-Generation Data Storage Market Outlook, By File Storage (2021-2030) ($MN)
17 Global Next-Generation Data Storage Market Outlook, By Object Storage (2021-2030) ($MN)
18 Global Next-Generation Data Storage Market Outlook, By Block Storage (2021-2030) ($MN)
19 Global Next-Generation Data Storage Market Outlook, By Other Storage Architectures (2021-2030) ($MN)
20 Global Next-Generation Data Storage Market Outlook, By Deployment Type (2021-2030) ($MN)
21 Global Next-Generation Data Storage Market Outlook, By On-premises (2021-2030) ($MN)
22 Global Next-Generation Data Storage Market Outlook, By Cloud (2021-2030) ($MN)
23 Global Next-Generation Data Storage Market Outlook, By Hybrid (2021-2030) ($MN)
24 Global Next-Generation Data Storage Market Outlook, By Other Deployment Types (2021-2030) ($MN)
25 Global Next-Generation Data Storage Market Outlook, By End User (2021-2030) ($MN)
26 Global Next-Generation Data Storage Market Outlook, By BFSI(Banking, Financial Services and Insurance) (2021-2030) ($MN)
27 Global Next-Generation Data Storage Market Outlook, By Manufacturing (2021-2030) ($MN)
28 Global Next-Generation Data Storage Market Outlook, By Consumer Goods and Retail (2021-2030) ($MN)
29 Global Next-Generation Data Storage Market Outlook, By Healthcare and Life Sciences (2021-2030) ($MN)
30 Global Next-Generation Data Storage Market Outlook, By Media and Entertainment (2021-2030) ($MN)
31 Global Next-Generation Data Storage Market Outlook, By Government Bodies (2021-2030) ($MN)
32 Global Next-Generation Data Storage Market Outlook, By Cloud Service Providers (2021-2030) ($MN)
33 Global Next-Generation Data Storage Market Outlook, By Telecom Companies (2021-2030) ($MN)
34 Global Next-Generation Data Storage Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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