Next Generation Data Storage Technologies Market is expected to grow over the CAGR of around ~19% during the period 2016 to 2022 and expected to grow at market size of USD ~149 billion in 2022.
Next Generation Storage Technology deals with an advanced portfolio of products and solutions which helps to store data across various end-user industries that include IT firms, Automotive Industries, Data Centers and many more. With the increasing file sizes and huge amount of big and unstructured data, IT companies are facing a great deal of problems to deal in the data management. The Next generation data storage infrastructure offers reliable, faster and cost-effective solution helps them to meet the demands of growing data storage.
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Key Players :
The prominent players in the market of Next Generation Data Storage Technologies are Dell Inc. (U.S.), IBM Corporation (U.S), VMware, Inc. (U.S.), Hewlett-Packard Development Company (U.S.), Sandisk Corporation (U.S.), Micron Technology Inc. (U.S.), Nutanix (U.S.), NetApp, Inc. (U.S.), Toshiba Corporation (Japan), Quantum Corporation (U.S.), among others.
Next Generation Data Storage Technologies Market:
The Next Generation Data Storage Technologies market can be segmented by type, by memory and by solution. By Type includes- All Flash Arrays, Magnetic Storage, Cloud based storage, Hybrid Storage Arrays, Software Defined Storage (SDS), Optical Storage and others whereas by memory includes- Atomic Scale Magnetic Memory, Phase Change Memory, 3D Chip Memory, Racetrack Memory, Hybrid Memory, Spintronic Memory (MRAM) and others. The Solution of Next Generation Data Storage Technologies Market are- Enterprise data storage, Big data storage, Cloud Services, Computing Devices and others.are showing fruitful opportunities for the Next Generation Data Storage Technologies market.
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Market Research Analysis:
Next Generation Storage technologies are used to store and recover information faster and in a more efficient manner. Next Generation Data Storage Technology is an upcoming market wherein increasing need for data storage in small and medium enterprises drives this market. This technology is used in smartphones, PC and laptops to support increasing data storage needs. Changing enterprise industry and high adoption of cloud storage technology is increasing the growth of next generation data storage technologies market.
The growing mobility and digitization trend is also fuelling the market growth of Next Generation Data Storage Technologies. However, technological complexity, repair and restore issues, lack of security in cloud are the current challenges which are hampering the market growth.
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