Data Center Storage

Data Center Storage

Global Data Center Storage Market to Reach US$354.0 Billion by 2030

The global market for Data Center Storage estimated at US$123.6 Billion in the year 2023, is expected to reach US$354.0 Billion by 2030, growing at a CAGR of 16.2% over the analysis period 2023-2030. SAN (Storage Area Network) System, one of the segments analyzed in the report, is expected to record a 17.6% CAGR and reach US$224.2 Billion by the end of the analysis period. Growth in the NAS (Network Attached Storage) System segment is estimated at 14.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$33.7 Billion While China is Forecast to Grow at 23.3% CAGR

The Data Center Storage market in the U.S. is estimated at US$33.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$90.2 Billion by the year 2030 trailing a CAGR of 23.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 12.1% and 14.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 13.0% CAGR.

Global Data Center Storage Market - Key Trends & Drivers Summarized

Why Is Data Center Storage Becoming Crucial for Businesses?
Data center storage is a fundamental component of modern IT infrastructure, enabling businesses to manage, store, and process vast amounts of data efficiently and securely. As digital transformation accelerates across industries, the need for robust and scalable storage solutions in data centers is becoming increasingly important. Organizations are generating and processing unprecedented volumes of data, driven by trends such as cloud computing, big data analytics, artificial intelligence, and the Internet of Things (IoT). Data center storage solutions provide the necessary capacity, performance, and redundancy to handle these data-intensive workloads, ensuring business continuity, disaster recovery, and regulatory compliance.

How Are Technological Innovations Transforming Data Center Storage?
Technological advancements are revolutionizing data center storage, making it more efficient, flexible, and scalable. Innovations such as software-defined storage (SDS) and hyper-converged infrastructure (HCI) are enabling more efficient use of resources and simplifying storage management. The adoption of non-volatile memory express (NVMe) and NVMe-over-Fabrics (NVMe-oF) technologies is enhancing data transfer speeds and reducing latency, providing faster access to critical data. Additionally, the integration of AI and machine learning is optimizing storage performance and capacity management, reducing downtime and operational costs. Cloud-native storage solutions are also gaining traction, offering greater flexibility and scalability to support hybrid and multi-cloud environments.

What Are The Key Trends And User Demands In The Market?
The data center storage market is shaped by several key trends, including the shift towards cloud-based and hybrid storage solutions, the increasing adoption of all-flash storage arrays, and the growing emphasis on data security and compliance. End-users are demanding storage solutions that offer high performance, scalability, and flexibility to support diverse workloads and applications. The trend towards software-defined storage and hyper-converged infrastructure is also driving demand, as organizations seek to simplify storage management and reduce costs. Furthermore, the need for faster data access and real-time analytics is pushing demand for NVMe and other high-performance storage technologies.

What Factors Are Driving The Growth Of The Data Center Storage Market?
The growth in the data center storage market is driven by several factors, including the increasing volume of data generated by businesses, the shift towards cloud and hybrid IT environments, and the need for scalable and high-performance storage solutions. Technological advancements, such as NVMe, software-defined storage, and hyper-converged infrastructure, are enhancing the capabilities and efficiency of data center storage. The rise of big data analytics, artificial intelligence, and IoT applications is also contributing to market expansion, as these technologies require robust and scalable storage to manage large datasets. Additionally, the growing focus on data security and regulatory compliance is driving demand for secure and reliable storage solutions in data centers.

Select Competitors (Total 51 Featured) -

• DataDirect Networks Inc.
• Dell Technologies Inc.
• Egenera, Inc.
• Equinix, Inc.
• Hewlett Packard Enterprise Development LP
• Huawei Technologies Co. Ltd.
• Inspur Group
• Intel Corporation
• International Business Machines Corporation (IBM Corp.)
• Lenovo Group Ltd.
• NEC Corporation
• Nimbus Data Inc.
• Oracle Corporation
• Pure Storage, Inc.
• Western Digital Corporation ;

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