Global Next Generation Storage Devices Market was valued at US$ 45.32 Bn in 2017 and is expected to reach US$ 165.11 Bn by 2026, at a CAGR of 17.54% during a forecast period.
Next generation storage devices deal with an advanced portfolio of products and solutions which aids to store data across different end-user industries that contain IT firms, automotive industries, data centers, and more.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding next generation storage devices market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in next generation storage devices market.
Higher functionality, discount in prices of solid-state drives, other cost-effective benefits of the solid-state technology, and longer life duration of the storage devices are expected to boost the growth for the next generation storage devices market. Moreover, cloud storage is gaining major recognition among world enterprises, owing to its easy availability and low cost of deployment. Additionally, cloud offers complete ownership of the storage space and can be retrieved from remote places. However, lack of security necessities in server-based and cloud services, and high primary investment impede the growth of next generation storage devices market.
Solid-state technology is expected to grow at the highest rate during the forecast period. Solid-state technologies are one of the fastest and most reliable media for storing data. These technologies do not contain any movable parts and use microchips to store data. Owing to the non-moving parts, the data stored on these devices is more secured.
Cloud storage system segment led the next generation storage devices market and is expected to continue its dominance throughout the forecast period, owing to easy availability of cloud storage and lower costs. In cloud storage system, digital data is stored in an off-site storage system or a remote server kept by a third party and is manageable via the internet. Cloud storage system offers access to the stored data from any location, hence removing data portability issues.
North America next generation storage devices market is estimated to show major growth in the forecast period owing to the high approval of technology and presence of already recognized infrastructure. Asia-Pacific next generation storage devices market is projected to grow at a significant rate, owing to huge rising the number of smartphone users.
Scope of the Global Next Generation Storage Devices Market
Global Next Generation Storage Devices Market by Architecture
Global Next Generation Storage Devices Market by Technology
• Hybrid Array
Global Next Generation Storage Devices Market by System
• Storage Area Network
Global Next Generation Storage Devices Market by Vertical
• IT & Telecommunication
• Media & Entertainment
Global Next Generation Storage Devices Market by Geography
• North America
• Middle East & Africa
• South America
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