Next-generation Storage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The next-generation storage market is expected to grow at a CAGR of 11.7% over the forecast period. With the sizeable and exponential growth in the digital world, there has been an accelerating development in the field of cloud computing, Big Data, mobile services, and social networking applications. Next-generation storage technology deals with an advanced portfolio of products and solutions, which help store data across various end-user industries, including IT firms, automotive companies, and data centres. With the increasing file sizes and a massive amount of big and unstructured data, IT companies face plenty of problems while dealing with data management.
Key HighlightsThe next-generation storage market is moderately competitive and consists of some major players. In terms of market share, few of the key players currently dominate the market. However, with innovation in memory packaging technology, many companies are increasing their market presence across untapped new markets of emerging economies.
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