Next Generation Storage Devices Market
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<strong>Next</strong> <strong>Generation</strong> <strong>Storage</strong><br />
<strong>Devices</strong> <strong>Market</strong><br />
Opportunity Analysis and Industry Forecast, 2016-2023<br />
Global Opportunity Analysis and<br />
Industry Forecast,<br />
2024-2022
Introduction<br />
• <strong>Next</strong> <strong>Generation</strong> <strong>Storage</strong> <strong>Devices</strong> <strong>Market</strong> is expected to reach $141 billion by<br />
2022<br />
• Reduction in prices of solid-state drives, higher functionality, other costeffective<br />
benefits of the solid-state technology, and longer life span of the<br />
storage devices are anticipated to boost the growth for the next generation<br />
storage devices market<br />
• Among storage systems, cloud storage segment dominated the next<br />
generation storage devices market, and is anticipated to continue its<br />
dominance throughout the period<br />
• next generation storage devices offer better administration of data, higher<br />
productivity, and improved project management and improved content<br />
management in the public sector organization<br />
• North America accounted for 35% market share in 2014, while the European<br />
market is expected to witness significant growth rate during the forecast<br />
period
Key Factors of the <strong>Market</strong><br />
• <strong>Next</strong> <strong>Generation</strong> <strong>Storage</strong> Technology caters to the growing need for improved data<br />
storage and management across various industry verticals, including banking, financial<br />
services, insurance (BFSI); retail; IT & telecommunication; government; healthcare;<br />
manufacturing; and others<br />
• Cloud storage is gaining significant recognition among world enterprises, owing to its<br />
low cost of deployment and easy availability<br />
• Increase in the number of smartphones for online transactions, rise in e-commerce<br />
activities, growth in national and international trade, and increased need to store large<br />
amount of data have fueled the growth of next generation storage devices in the BFSI<br />
sector<br />
• Increase in need for better data storage and management among various enterprises,<br />
rise in adoption of cloud computing, innovation in storage technology, and continuous<br />
increment in unstructured data are major driving factors of the next generation<br />
storage devices industry
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Key Benefits of the <strong>Market</strong><br />
• The cloud-based storage segment dominated the overall next generation<br />
storage devices market, in terms of revenue, and is projected to grow at a<br />
CAGR of 18.7% during the forecast period<br />
• The cloud storage system segment dominated the global next generation<br />
storage devices market in 2014, and is anticipated to grow at the highest CAGR<br />
• The software-defined storage segment is expected to grow at the second<br />
highest growth rate of 17.7%<br />
• IT & telecommunication generated the highest revenue in 2014, while the<br />
government sector is estimated to grow at the highest growth rate of 18.1%<br />
• In 2014, North America was the dominant region, while Europe is projected to<br />
grow at the highest CAGR, with rest of Europe market being the major<br />
contributor
<strong>Market</strong> Segmentation<br />
By <strong>Storage</strong> Technology<br />
• Magnetic <strong>Storage</strong><br />
• Solid-state <strong>Storage</strong><br />
• Cloud-based <strong>Storage</strong><br />
• Hybrid Array<br />
By <strong>Storage</strong> System<br />
• Network-attached <strong>Storage</strong><br />
• Direct-attached <strong>Storage</strong><br />
• Cloud <strong>Storage</strong><br />
• Unified <strong>Storage</strong><br />
• <strong>Storage</strong> Area Network<br />
• Software-defined <strong>Storage</strong><br />
By Industry Vertical<br />
• BFSI<br />
• Retail<br />
• IT & Telecommunication<br />
• Healthcare<br />
• Government<br />
• Education<br />
• Media & Entertainment<br />
By Geography<br />
• North America<br />
• Europe<br />
• Asia-Pacific<br />
• LAMEA
Key Players of the <strong>Market</strong><br />
• Dell, Inc.<br />
• HPE Company<br />
• Hitachi Ltd.<br />
• IBM Corporation<br />
• NetApp, Inc.<br />
• Nutanix, Inc.<br />
• Oracle <strong>Storage</strong>Tek<br />
• Pure <strong>Storage</strong>, Inc.<br />
• Tintri, Inc.<br />
• Toshiba Corp.<br />
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