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Next-Generation Data Storage Market Size And Share Analysis, Growth Trends & Forecasts 2023 - 2032
Next-Generation Data Storage market
The Business Research Company's Next-Generation Data Storage Global Market Report 2023 identifies A surge in the use of mobile and smart devices as the major driver for the Next-Generation Data Storage market's growth in the forecast period. Smart devices refer to electronic gadgets and parts that are connected to an intelligent system and are meant to be placed next to, on, or inside an organism. A surge in the use of mobile devices will increase the use of internet searches and social media, which ultimately increases the amount of data generated, thus increasing the demand for next-generation data storage to store this large amount of data.
The global next-generation data storage market is expected to grow from $72.54 billion in 2022 to $80.74 billion in 2023 at a compound annual growth rate (CAGR) of 11.30%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The next-generation data storage market is expected to reach $121.37 billion in 2027 at a CAGR of 10.73%.
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Major competitors in the Next-Generation Data Storage market are Samsung Electronics Co. Ltd., Dell Technologies Inc., Hitachi Ltd., Huawei Technologies Co. Ltd., The International Business Machines Corporation, SK Hynix Inc.
A key trend in the Next-Generation Data Storage market includes Product innovations . Companies operating in the next-generation data storage market are using advanced technologies to sustain their position in the market. For instance, in April 2021, IBM, a US-based IT services and IT consulting company launched IBM Spectrum Fusion as a brand-new, container-native software-defined storage (SDS) solution. It is planned to include Red Hat OpenShift so that businesses may deliver software-defined storage for cloud, edge, and containerized data centers, as well as environments for both virtual machines and containers.
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The Next-Generation Data Storage market is segmented -
•By Type: Direct Attached Storage (DAS), Network Attached Storage (NAS), Storage Area Network (SAN), Other Types
•By Technology: Magnetic Storage, Hybrid Flash Array, Solid State Drive (SSD)
•By Architecture: File-Based, Object-Based, Block Storage
•By Deployment: On Premise, Cloud
•By Industrial Vertical: BFSI, Government, Retail, IT And Telecommunication, Manufacturing, Healthcare, Education, Media And Entertainment
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Next-Generation Data Storage market.
The Business Research Company's "Global Next-Generation Data Storage Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Next-Generation Data Storage Market Include:
1. Executive Summary
2. Next-Generation Data Storage Market Characteristics
3. Next-Generation Data Storage Market Trends And Strategies
4. Next-Generation Data Storage Market - Macro Economic Scenario
5.Global Next-Generation Data Storage Historic Market Size and Growth
..................
32. Global Next-Generation Data Storage Market Competitive Benchmarking
33. Global Next-Generation Data Storage Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Next-Generation Data Storage Market
35. Next-Generation Data Storage Market Future Outlook and Potential Analysis
36. Appendix
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