The Europe Next Generation Storage Market size is expected to grow from USD 12.45 billion in 2023 to USD 20.33 billion by 2028, at a CAGR of 10.30% during the forecast period (2023-2028).
Europen Union is investing and taking quick steps towards the AI and digitalizing the region's businesses. In comparison to 8.9 million ICT professionals in 2021, the EU wants to expand this number to at least 20 million by 2030, according to a report published by The Digital Economy and Society Index (DESI). At least 90% of SMEs in the EU must have a fundamental level of digital intensity by 2030 to meet the Digital Decade goal. By 2030, at least 75% of businesses should be using big data, cloud, and AI technology, and the EU hopes that at least 80% of individuals will have at least basic digital abilities. This growing demand in the IT sector for digitalization will create a need for High storage platforms.
There is intense competition with several providers of Next Generation Storage. The major players include Hitachi, IBM, Dell, Toshiba, Hewett Packard, Netgear, and the list continues. Due to high competency, the market concentration will be low. To keep the competition on, manufacturers enhance products with technologies and invest in mergers and acquisitions to broaden their geographic reach.
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