Next generation data storage technology includes technologically advanced data storage products and solutions to deal with increasing file sizes and huge amount of unstructured data. The next generation data storage technology manages large data securely and enables reliable, secure and fast recovery of data in a cost-efficient manner. It has enabled scalable storage and handling of large data generated by big enterprises.
The factors favoring the growth of the next generation storage technologies market include ubiquity of input and output devices in every sector and the ever-increasing need for managing, analyzing and storing huge amount of data. Consequently, the demand for next generation data technologies is expected to increase at a quick rate over the forecast period. This growth is expected to be backed by the growing demand for advanced time saving technologies including automated systems, smart technologies, online shopping, and internet of things etc. which require handling of large data generated by the enterprises.
There are various challenges restraining the growth of the next generation data storages technologies market. This includes technological complexity, repair and restore issues, lack of security etc. Furthermore, high level of data consistency is required in the data storage. Future growth in the market is projected to come from emerging need for data storage in small and medium enterprises.
The next generation data storage technologies market is segmented on the basis of technology and application. By technology, the market is classified as into all-flash storage arrays, hybrid array, cloud based disaster recovery, holographic data storage and heat assisted magnetic recording. Of these, hybrid array is a form of hierarchical storage management contains solid state drives and hard disk drives for input and output speed improvements. Holographic data storage is the high capacity data storage technology whereas hybrid array and all flash array are standard data storage techniques.
By application, next generation data storage technologies market is divided into the enterprise data storage, big data storage and cloud based storage.
North America is the dominating the next generation data storage technologies market. The Asian Pacific countries including China, Japan and India are expected to grow at a significant rate as compared to other regions. The presence of a large number of IT industries in the Asia Pacific region is one of the key factor driving growth of the next generation data storage technologies market in the region. Asia Pacific countries are speculated to make huge investments in the data storage sector to provide their existing infrastructures with new data storage technologies and solutions to improve the production process. Japan, which is one of the technology advanced nations, is anticipated to be a big market for next generation data storage technologies. The country is already using these data storage technology across its various industry verticals
Some of the key players in the next generation data technology market are Dell Inc., Avago Technologies, EMC Corporation, Hewlett-Packard Development Company, L.P., HGST, Inc., - Hitachi Data Systems, IBM Corporation, NetApp, Inc., Avago Technologies, Drobo, Inc. and Micron Technology Corporation.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.