South & Central America Next Generation Data Storage Market Forecast to 2030 - Regional Analysis - Storage System [Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN)], End user (BFSI, Retail, IT and Telecom, Heal

South & Central America Next Generation Data Storage Market Forecast to 2030 - Regional Analysis - Storage System [Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN)], End user (BFSI, Retail, IT and Telecom, Healthcare, Media and Entertainment, and Others), Storage Medium (Hard Disk Drive, Solid-State Drive, and Tape), Storage Architecture (File-Object based Storage, and Block Storage), and Deployment (On-premise, Cloud-based, and Hybrid)

The South & Central America next generation data storage market was valued at US$ 2,509.07 million in 2022 and is expected to reach US$ 3,720.01 million by 2030; it is estimated to register a CAGR of 5.0% from 2022 to 2030.

Increasing Use of SSD Fuels South & Central America Next Generation Data Storage Market

Solid-state drives (SSDs) offer significantly faster reading and writing speeds compared to traditional hard disk drives (HDDs). This opens doors for faster boot times, application loading, and overall system responsiveness. Moreover, SSDs have much lower latency, which implies that it requires less time for data to be accessed. This is crucial for real-time applications, database operations, and high-performance computing. As data generation and processing continue to grow, new applications requiring fast and efficient storage are expected to emerge, creating exciting opportunities for SSD manufacturers and storage solution providers. Further, several companies are engaged in expanding their portfolio by launching SSDs in the market.

In January 2024, TEAMGROUP announced the new generation of Gen 5 SSD, the T-FORCE GE PRO PCIe 5.0 SSD, which uses the PCIe Gen 5x4 interface and NVMe 2.0 standard. The new multi-core, low-wattage Gen 5 SSD is designed for extreme storage speeds and is perfect for gamers and users who desire ultimate performance.

In October 2023, Samsung launched a new portable solid-state drive (SSD) T9, specially designed for content creators. The device comes with up to 4TB storage a USB 3.2 Gen 2x2 interface, with up to 2,000 MB/s read or write speed.

In July 2023, Micron Technology, Inc. announced the Crucial X9 Pro Portable SSD and Crucial X10 Pro Portable SSD, two new performance offerings in the Crucial Pro Series product portfolio designed for content creators such as videographers, photographers, designers, or any performance-seeking consumer.

In October 2022, WD introduced the Fast SanDisk Pro SSD, which has a twin Thunderbolt/USB port. Western Digital's latest super-fast SSD is one of the company's San Disk Pro line of goods. The PRO-G40 SSD combines Thunderbolt 3 (40Gbps) with USB 3.2 Gen 2 (10Gbps) through a single interface. Thus, the increasing use of SSDs presents a significant opportunity for the next-generation data storage market.

South & Central America Next Generation Data Storage Market Overview

The next-generation data storage market in South America is expected to witness significant growth in the coming years. In March 2022, Equinix, a digital infrastructure company, expanded its presence in South America by acquiring four data centers in the region. The company plans to acquire three data centers in Santiago (Chile) and one in Lima (Peru) for a total of US$ 705 million from Empresa Nacional De Telecomunicaciones (Entel), a Chilean telecommunications provider. Equinix's acquisition of four data centers in South America reflects the growth and potential of the next-generation data storage market in the region. This expansion will enable Equinix to offer advanced data management and storage solutions, supporting the digital transformation efforts of businesses in South America and beyond. The market is driven by factors such as the increase in the volume of data generated by businesses, the need for cost-effective data management and storage solutions, and the adoption of progressive technologies such as cloud computing and big data analytics. The market is witnessing advancements in storage media and technologies. Innovations such as DNA (Digital Data Storage) and holographic storage are expected to impact the South America next-gen storage market.

Additionally, tape storage is making a comeback, and software-defined storage is gaining popularity due to the increasing volume of unstructured data. Next-gen data storage technologies find applications in various industries in South America. Industrial automation, aerospace, healthcare, retail, manufacturing, and government sectors are anticipated to experience substantial growth in the adoption of next-gen data storage technologies.

South & Central America Next Generation Data Storage Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Next Generation Data Storage Market Segmentation

The South & Central America next generation data storage market is categorized into storage system, end user, storage medium, storage architecture, deployment, and country.

Based on storage system, the South & Central America next generation data storage market is segmented into direct attached storage (DAS), network attached storage (NAS), and storage area network (SAN). The direct attached storage (DAS) segment held the largest South & Central America next generation data storage market share in 2022.

In terms of end user, the South & Central America next generation data storage market is segmented into BFSI, retail, IT and telecom, healthcare, media and entertainment, and others. The BFSI segment held the largest South & Central America next generation data storage market share in 2022.

By storage medium, the South & Central America next generation data storage market is divided into hard disk drive, solid-state drive, and tape. The solid-state drive segment held the largest South & Central America next generation data storage market share in 2022.

Based on storage architecture, the South & Central America next generation data storage market is bifurcated into file-object based storage and block storage. The file-object based storage segment held a larger South & Central America next generation data storage market share in 2022.

By deployment, the South & Central America next generation data storage market is categorized into on-premise, cloud-based, and hybrid. The on-premise segment held the largest South & Central America next generation data storage market share in 2022.

By country, the South & Central America next generation data storage market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America next generation data storage market share in 2022.

Dell Technologies Inc, Hewlett Packard Enterprise Co, NetApp Inc, Hitachi Ltd, International Business Machines Corp, DataDirect Networks Inc, Fujitsu Ltd, NETGEAR, and Huawei Technologies Co Ltd are some of the leading companies operating in the South & Central America next generation data storage market.

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