Shared Storage Solutions Market - Industry Trends, Competitive Landscape

Posted by surendra choudhary on February 12th, 2019

A storage resource that can be shared or accessed by multiple users is known as a shared storage. Shared storage is mostly used in enterprise IT environments where there is a need to share central storage infrastructure between multiple users at once across an organization’s network. Classically, shared storage is in the form of storage area network (SAN), network attached storage (NAS), software designed storage, storage server, and cloud storage. To access data within the shared storage, it is essential that users authenticate themselves on the central storage server, shared storage medium, or a storage management application. Once authenticated, users can access, modify, and create data to/from the shared storage, based on their permission level.

Shared storage solutions are used so that the shared storage can be directly accessed over the local network or through file transfer protocol. (FTP) Shared storage can be accessed through the Internet with a storage management application or through programmatic access using an application programming interface (API). Shared storage is a platform used for file storage that is accessible to all the users in a network. It avoids duplication and allows simultaneous access to multiple users. Processes are streamlined and the risk of conflicting backups is eliminated as only one server exists for all the data, backup, and archiving.

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Some of the major factors driving the growth of the shared storage solutions market are increased reliability and higher availability of shared storage solutions and their advanced data features. Increased reliability and higher availability of shared storage solutions minimize downtime and offer better scalability. Advanced data features are designed as specialized storage solutions to store data in an effective and reliable manner.

The shared storage solutions market is currently dominated by a few major firms controlling a majority of the industry share. Key players include Dell EMC and Hewlett Packard Enterprise (HPE). Hewlett Packard Enterprise has recently started offering new shared storage solutions specifically for small- and mid-sized businesses. Through this strategy HPE has targeted the least tapped area of the market as most shared storage providers offer solutions for large scale industries. Dell EMC is expected to account for a dominant share in the shared storage solutions market in the coming years.

North America is expected to dominate the shared storage solutions market due to the presence of a large number of service providers in the region. North America is expected to be followed by Asia Pacific and Europe. Most companies have now started to focus on Asia Pacific due to the rapid technological advancements and digital transformation taking place across the region.

The IT & telecommunications industry is expected to be the primary contributor to the shared storage solutions market as it is the sole solution provider. Nevertheless, other industries such as media and entertainment; transportation and logistics; banking, financial services and insurance (BFSI); and many more are also likely to use shared storage solutions to run their daily operations faster and more efficiently. Every industry is moving toward digitization and automation in more and more operational areas. Shared storage solutions are expected to help industries in this shift. They are also anticipated to help manage costs.

The shared storage solutions market is expected to strengthen during the forecast period. Given the aggressive rivalry in the shared storage solutions market and the projects already underway, more operators are expected to come forward to seriously evaluate different options for shared storage solutions.

In the media and entertainment industry, shared storage solutions offer supreme scalability, media performance, more flexible systems management, and reliability to accelerate production in the most media-intensive broadcast, education, video post, and corporate environments. Some of the major players in the shared storage solutions market are Dell EMC, Hewlett Packard Enterprise, Archion Technologies, 1 Beyond, Inc., Facilis Technology, Studio Network Solutions, LLC, and Avid Technology, Inc.