The global IT storage services market was valued at USD 68 billion in 2015 and is expected to surpass USD 97 billion by 2020.
Procurement market intelligence analysts have announced its latest market research report on IT storage services for the period 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the IT storage services market during the forecast period. Some of the top vendors listed in this industry analysis include Dell EMC, NetApp, IBM, HPE, and Hitachi Data Systems.
In terms of geographical analysis, the Americas was the largest shareholder in the global market, with a market share of around 55% during 2015.
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According to Angad Singh, a procurement specialist at Technavio for research on category spend intelligence, “The increased adoption of copy data management is an upcoming trend in the global market currently. Copy data management uses live clones for backup, archiving, and replication of services. The increasing adoption of copy data management helps streamline multiple processes that use different tools from different vendors.”
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The new procurement market intelligence report analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Need for scalability
Managing data becomes more complex with the exponential rise in volumes, prompting organizations to outsource their own software-defined storage such as flash arrays, hybrid and converged storage, and financial modeling. Outsourcing software-defined storage provides organizations with an edge over traditional forms.
Emergence of IoT
The rapid growth of IoT is resulting in an exponential increase in the volumes of data generated, propelling the demand for storage services on a global scale. Furthermore, the need to deploy high-capacity management platforms for the storage and processing of data among data center operators is also expected to amplify demand for IT storage services.
Demand for automation
Automation of data center services helps in the retrieval and transfer of frequently-accessed data to flash disks and less-accessed data to slower disks. Automation enables organizations to filter data easily according to their requirement.
A more detailed analysis is available in the procurement market intelligence report titled, ‘Global IT Storage Services – Procurement Market Intelligence 2016’.
