The global enterprise storage market was valued at USD28 billion in 2015 and is expected to surpass USD58 billion by 2020, says Technavio.
Technavio has announced its latest market research report on enterprise storage for the forecast period, 2016-2020. This market analysis, under the data center vertical, discusses the major drivers and key emerging trends that will influence the growth of the global enterprise storage market during the forecast period. Some of the top vendors listed in this industry analysis include Dell, EMC, Hitachi Data Systems, HP, IBM, and NetApp.
Among various geographies, the Americas will be the fastest-growing region in the global market and is expected to contribute revenues of around $22 billion by 2020. The growth in the Americas is because it is the headquarter location for many global enterprises.
“The high adoption of flash-based storage will gain traction in this market over the predicted period. SSD storage, mostly known as flash storage, offers greater efficiency compared to traditional HDD storage. With the growing use of mission critical applications, the use of flash-based storage systems will aid in achieving 40 times better than hard disk input/output (I/O) performance and around 50% reduction in power consumption. The high-cost of flash-based storage systems will restrict its adoption to large and mega data centers,” says Abhishek Sharma, an industry expert at Technavio for research on data center.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Significant growth of IoT
Internet-connected devices are expected to be a major revenue generator for the enterprise storage market because of the growth in connected devices, which will lead to the generation of a huge amount of data. New technologies like connected car, connected healthcare, connected home, and smart cities are also gaining popularity. Many sectors such as automotive, retail, manufacturing, and even social media are using the IoT to increase accuracy, efficiency, and derive economic advantage. Cloud computing and data analytics will significantly help in the growth of the IoT. There is constant upgradation of data centers for storage and processing requirement which will fuel market growth during the forecast period.
Increase in demand for cloud-based storage
Storing data in the cloud is proving to be an effective solution for enterprises worldwide. Commercial data require more storage and varies between SMEs and large enterprises. With the growth of data generated through the IoT, storing data on-premise has become pricey, thereby prompting enterprises to move their data to the cloud storage (STaaS) by selecting service providers such as Amazon Web Service, Microsoft Azure, and Google Cloud Platform. The demand has also increased because of better scalability, reduced cost, and high availability of storage in the cloud.
Optimized use of big data analytics
Most business and consumer-based applications create an enormous amount of structured and unstructured data that are stored in the data center storage infrastructure. Big data analytics help to understand the stored data and enable enterprises to make business decisions. The use of big data analytics has propelled widespread technological progress in enterprise storage. For predictive and consumer analytics on big data sets, enterprises have started procuring high-performance computing infrastructure for data centers in the form of FCoE SAN storage, and NAS unified arrays. Big data infrastructure spending includes computing, storage, network, and software.
Some of the other prominent vendors identified in this report are American Megatrends, DataDirect Networks, Dot Hill, Fujitsu, imation, Lenovo, NEC, Netgear, nfina, Nimble Storage, Nimbus Data, Oracle, Overland Storage, Pure Storage, Samsung, SanDisk, Seagate, SolidFire, Tegile, Toshiba, Violin-memory, Western Digital, and XIO Technologies.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Enterprise Storage Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Data Center Storage Market 2016-2020
- Global Mobile NAND Flash Market 2016-2020
- Global NOR Flash Market 2016-2020
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