Data Storage Market Growth Attributed to Expanding Enterprises Applications

Posted by Shazia Khan on June 12th, 2019

The global data storage market was valued around billion - billion in 2018, and it is estimated to grow with a progressive CAGR of 18% - 22% over a forecast period 2019-2025. The analyst of the report attributes the prosperity of the data storage market to the radical adoption of cloud-based infrastructure by enterprises in order to increment their productivity. The market research report from IndustryARC is titled: “Data Storage Market: By Type (Optical storage device, Magnetic storage device & others), By Medium (Cache Memory, Dynamic RAM (DRAM) & others) By Application (Enterprise Data, Consumer Storage & Others) By End-Users(Industrial, Banking, Government & others), By Geography - Forecast (2019-2025)

• Data Storage Market Segment Analysis:Enterprises application is the leading segment in the data storage market and is estimated to grow at an excellent CAGR of 20% - 25% through 2019 to 2025.
• On the basis of the geographical analysis, Asia-Pacific region holding the largest share of around 35% - 40% in the data storage market.

Data Storage Market Product Analysis:

Data storage plays a promising role in storing variety of data that is from personal photos to complex business information in electronic media. Data storage is used to store and preserve digital data in different storage medium such as Hard disk drives (HDD), solid-state drive (SSD), DNA and RNA, magnetic tape, phonographic recording, handwriting, and optical discs. Network-attached storage (NAS), storage area network (SAN), and direct-attached storage (DAS), and NAND flash are varied enterprise data storage networks. NAS systems are used in organizations to accumulate and manage huge volumes of data.

Data Storage Market Companies – Latest Developments:

• Sandisk Corporation, Western Digital, Hitachi Data System Corporation, Samsung Group, IBM Corporation, Amazon Web Services, Inc., Alphabet, Inc., Microsoft Corp., Toshiba Corp, Seagate Technology LLC are some of the major players operating in the data storage market.
• Seagate Technology LLC is a leading provider of data storage solutions. In September 2018, this company launched most advanced and wide range 14TB hard drive which improves the enterprise data storage. It consists of IronWolf and IronWolf Pro for NAS applications, the BarraCuda Pro desktop drive, surveillance-optimized SkyHawk, and Exos X14 for hyperscale data centers with which consumers can use the digital data more effectively. Due to this innovation Seagate Technology LLC is elevating in the data storage technology at a faster pace
• In 2018, University of South Australia urged a disruption in the data storage market, stating that owing to the extreme usage of data through social media, cloud computing, and widespread of smartphones, the limits associated with HDD and SSD is unfeasible. So researches are going for healthier technique that is optical data storage which meets the requirement of new emerging technologies which is about one million gigabytes storage. This innovative technique uses light energy and fluorescent nano crystals for data storage and it can be extended further as 3D optical data storage.

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