Next-Generation Data Storage Market: By Storage system (Direct attached storage, Network attached storage, and Storage Area Network), By Storage architecture (FOBS and Block storage), By Storage medium (SSD, HDD, and Tape), By End-user (Enterprise, Government, Cloud service providers, and Telecom), and Geography  

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Next-Generation Data Storage Market size was valued at USD 57.6 billion in 2023, growing at a CAGR of 8.5% from 2024-2030. The rapidly increasing amount of digital data as a rising number of users of Smartphones, laptops and tablets and the increasing preference of organizations for cloud computing services are major factors that are expected to drive global market growth over the forecast period. Furthermore, growing demand for time-saving technology and services, automated systems, IoT devices and online shopping activities are some of the other factors that are expected to further fuel the target market's growth over the forecast period. Increasing investment by target market players in R&D activities to build cost-effective solutions for different industries, and increasing strategic mergers and acquisitions to expand their offerings and global footprint. For example, EMC acquired Virtustream to broaden its cloud services. However, a lack of protection in cloud and server-based services is a key factor expected over the forecast period to limit global market growth. This study analyses the global next-generation data storage market dynamics in a detailed manner to identify current trends and drivers, growth opportunities, and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across regions and consumer unmet needs.  

Next-Generation Data Storage Market Key Developments:
  • In April 2019, Dell Technologies announced new and enhanced storage, data management, and data protection solutions that directly affect an organization's data capital.
  • In February 2020, Pure Storage Pure Storage partnered with Google Clouds Anthos Ready Storage Initiative for data storage solutions.
  • In June 2020, Dell Technologies announced Dell EMC PowerScale, a new family of storage systems engineered with industry-leading storage software and server hardware to set a new industry standard for how organizations capture and capitalize on unstructured data, such as documents, images, videos, and social media content.

Next Generation Data Storage Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.5%

Largest Market

North America

Fastest Growing Market

Europe
Next-Generation Data Storage Market Dynamics

The growing number of cloud-based solutions globally is driving the growth of the next-generation data storage market to a great extent. Cloud-based network-attached storage systems are thriving worldwide, as they can be accessed conveniently, regardless of time and place. Without any need to be physically mounted on the framework of an organization, cloud-based technology may be used. The need for storing vast quantities of backup data is also growing with an increase in the number of cloud-based solutions.

Next Generation Data Storage Market Segmentation

By Storage system
  •  
  • Direct Attached Storage (DAS)
  • Network Attached Storage (NAS)
  • Storage Area Network (SAN)
By Storage architecture
  • File and Object-based Storage (FOBS)
  • Block Storage
By Storage medium
  • SSD
  • HDD
  • Tape
By End User
  • Enterprise
  • Government
  • Cloud Service Providers
  • Telecom

Frequently Asked Questions

Next-Generation Data Storage Market is projected to expand at a CAGR of 8.5% CAGR during the forecast period

Enterprise Company, Dell Inc, NetApp Inc, Hitachi Ltd, Toshiba Corporation

Europeis the fastest-growing region for the next-generation data storage market

Key Features of the Reports

  • The Next-Generation Data Storage Market report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights into the competitor's overview, company share analysis, key market developments, and key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and startup details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter Five Force Analysis in addition to recent technology advancements and innovations in the market
1. Executive Summary
2. Global Next-Generation Data Storage Market Introduction
2.1. Global Next-Generation Data Storage Market - Taxonomy
2.2. Global Next-Generation Data Storage Market -Definitions
2.2.1. Storage System
2.2.2. Storage Architecture
2.2.3. Storage Medium
2.2.4. End User
2.2.5. Region
3. Global Next-Generation Data Storage Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Collaborations, Acquisitions and Mergers
3.6. Global Next-Generation Data Storage  Market - Competition Landscape
3.7. Global Next-Generation Data Storage  Market Dynamic Factors - Impact Analysis
4. Global Next-Generation Data Storage  Market Analysis, 2019- 2023 and Forecast, 2024 - 2030
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Next-Generation Data Storage  Market, By Storage System, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1. Direct-Attached
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Network-Attached
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Storage Area Network
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Next-Generation Data Storage Market Forecast, By Storage Medium, 2019 - 2023 and Forecast, 2024 - 2030
6.1. SSD
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. HDD
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
6.3. Tape
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Next-Generation Data Storage Market Forecast, By Storage Architecture, 2019 - 2023 and Forecast, 2024 - 2030
7.1. File- & Object-Based
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Block
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
8. Global Next-Generation Data Storage Market Forecast, By End User, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1. BFSI
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Consumer Goods
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Healthcare
8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Media and Entertainment
8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Government Bodies
8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Others
8.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.6.3. Market Opportunity Analysis
9. Global Next-Generation Data Storage Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Next-Generation Data Storage Market - Opportunity Analysis Index, By Storage System, By Storage Medium, By Storage Architecture, By End User, and Region, 2024 - 2030
10. North America Next-Generation Data Storage Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
10.1. Storage System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Direct-Attached
10.1.2. Network-Attached
10.1.3. Storage Area Network
10.2. Storage Medium Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. SSD
10.2.2. HDD
10.2.3. Tape
10.3. Storage Architecture Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. File- & Object-Based
10.3.2. Block
10.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. BFSI
10.4.2. Consumer Goods
10.4.3. Healthcare
10.4.4. Media and Entertainment
10.4.5. Manufacturing
10.4.6. Government Bodies
10.4.7. Others
10.5. Country Analysis 2016 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. U.S.
10.5.2. Canada
10.6. North America Next-Generation Data Storage  Market - Opportunity Analysis Index, By Storage System, By Storage Medium, By Storage Architecture, By End User, and Country, 2024 - 2030
10.7. North America Next-Generation Data Storage  Market Dynamics - Trends
11. Europe Next-Generation Data Storage  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
11.1. Storage System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Direct-Attached
11.1.2. Network-Attached
11.1.3. Storage Area Network
11.2. Storage Medium Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. SSD
11.2.2. HDD
11.2.3. Tape
11.3. Storage Architecture Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. File- & Object-Based
11.3.2. Block
11.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. BFSI
11.4.2. Consumer Goods
11.4.3. Healthcare
11.4.4. Media and Entertainment
11.4.5. Manufacturing
11.4.6. Government Bodies
11.4.7. Others
11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Poland
11.5.8. Rest of Europe
11.6. Europe Next-Generation Data Storage Market - Opportunity Analysis Index, By Storage System, By Storage Medium, By Storage Architecture, By End User, and Country, 2024 - 2030
11.7. Europe Next-Generation Data Storage  Market Dynamics - Trends
12. Asia-Pacific Next-Generation Data Storage  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
12.1. Storage System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Direct-Attached
12.1.2. Network-Attached
12.1.3. Storage Area Network
12.2. Storage Medium Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. SSD
12.2.2. HDD
12.2.3. Tape
12.3. Storage Architecture Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. File- & Object-Based
12.3.2. Block
12.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. BFSI
12.4.2. Consumer Goods
12.4.3. Healthcare
12.4.4. Media and Entertainment
12.4.5. Manufacturing
12.4.6. Government Bodies
12.4.7. Others
12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. Japan
12.5.2. China
12.5.3. India
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Next-Generation Data Storage  Market - Opportunity Analysis Index, By Storage System, By Storage Medium, By Storage Architecture, By End User, and Country, 2024 - 2030
12.7. Asia-Pacific Next-Generation Data Storage  Market Dynamics - Trends
13. Latin America Next-Generation Data Storage  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
13.1. Storage System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Direct-Attached
13.1.2. Network-Attached
13.1.3. Storage Area Network
13.2. Storage Medium Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.2.1. SSD
13.2.2. HDD
13.2.3. Tape
13.3. Storage Architecture Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. File- & Object-Based
13.3.2. Block
13.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. BFSI
13.4.2. Consumer Goods
13.4.3. Healthcare
13.4.4. Media and Entertainment
13.4.5. Manufacturing
13.4.6. Government Bodies
13.4.7. Others
13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Next-Generation Data Storage  Market - Opportunity Analysis Index, By Storage System, By Storage Medium, By Storage Architecture, By End User, and Country, 2024 - 2030
13.7. Latin America Next-Generation Data Storage  Market Dynamics - Trends
14. Middle East and Africa Next-Generation Data Storage  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
14.1. Storage System Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Direct-Attached
14.1.2. Network-Attached
14.1.3. Storage Area Network
14.2. Storage Medium Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.2.1. SSD
14.2.2. HDD
14.2.3. Tape
14.3. Storage Architecture Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. File- & Object-Based
14.3.2. Block
14.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. BFSI
14.4.2. Consumer Goods
14.4.3. Healthcare
14.4.4. Media and Entertainment
14.4.5. Manufacturing
14.4.6. Government Bodies
14.4.7. Others
14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. Israel
14.5.3. South Africa
14.5.4. Rest of MEA
14.6. MEA Next-Generation Data Storage  Market - Opportunity Analysis Index, By Storage System, By Storage Medium, By Storage Architecture, By End User, and Country, 2024 - 2030
14.7. MEA Next-Generation Data Storage  Market Dynamics - Trends
15. Competition Landscape 
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Test Offerings, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Dell
15.2.2. Hewlett Packard Enterprise (HPE) Company
15.2.3. IBM
15.2.4. Netapp
15.2.5. Hitachi
15.2.6. Toshiba
15.2.7. Pure Storage
15.2.8. Nutanix
15.2.9. Scality
15.2.10. Micron Technology
16. Research Methodology
17. Key Assumptions and Acronyms
  • Enterprise Company
  • Dell Inc.
  • NetApp Inc.
  • Hitachi Ltd.
  • International Business Machines Corporation
  • Toshiba Corporation
  • Pure Storage Inc.
  • Nutanix Inc.
  • Micron Technology Inc.
  • Tintri Inc.

Adjacent Markets