Global Data Center Storage Market 2019-2023 | 28% CAGR Projection Over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Nov 15, 2019--
The data center storage market size is expected to post a CAGR of over 28% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global data center storage market 2019-2023. (Graphic: Business Wire)
The growing deployment of edge computing is one of the major reasons for the data center storage market growth. Over the past few years, end-user industries such as telecommunication, manufacturing, and energy have been witnessing a significant increase in data generation. This has resulted in the increase in demand for technologically advanced edge platforms. To capitalize on this demand, vendors in the market are focusing on the development of new edge computing platforms to help their clients improve data management capabilities at the edge of the network. This has led to an increase in the investments in the deployment of edge computing. The increasing deployment of edge computing will increase the need for edge data centers which will drive the growth of global data center storage market size during the forecast period.
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As per Technavio, the increasing preference for hyper-converged infrastructure (HCI) in data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Data Center Storage Market: Increasing Preference for Hyper-Converged Infrastructure (HCI) in Data Centers
Hyper converged infrastructure (HCI) is an IT infrastructure which enables convergence of storage and computational functionalities as a single, highly virtualized solution. These systems reduce the data center footprint significantly, eventually leading to the creation of more technical space and core IT space. Also, HCIs offer scalability to the data centers. Customers can add new resources such as servers or storage arrays by connecting a new node to the existing cluster. Furthermore, HCI systems offer a high degree of automation when it comes to storage-related tasks. Therefore, with the rising adoption of HCI systems, the global data center storage market, is anticipated to witness surging growth during the next few years.
“Factors such as the implementation of AI in enterprises, and growing investments in hyperscale data centers (HDCs) will have a significant impact on the growth of the data center storage market value during the forecast period,” says a senior analyst at Technavio.
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Data Center Storage Market: Segmentation Analysis
This market research report segments the data center storage market by deployment (SAN system, NAS system, and DAS system) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the data center storage market share in North America can be attributed to the increasing demand for data centers, driven by the increase in consumer and enterprise data traffic.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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