Next Generation Data Storage Technologies Market Overview
The Next Generation Data Storage Technologies Global Market estimated to register a lucrative CAGR of 19% during the assessment period. Next generation data storage technology works with an advanced portfolio of products and solutions helping industries from various verticals to store and access critical data. Next generation storage technology helps in dealing with an increasing amount of unstructured data and larger file sizes. The next generation data storage technology enables effective management of large data securely. It also aids in a reliable, secure and fast recovery of data in a cost-effective manner. The next generation data storage technology has enabled big enterprises to handle large amounts of data by providing scalable storage capabilities.
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Various factors attributing to such growth include a rising need for scalable storage solutions due to an upsurge in the creation of unstructured data and bigger file sizes, as well as, the ever-increasing need for management, analysis and proper storage of such data.
Further, a rise in the demand for excellent time efficient technologies and real-time data analysis is also anticipated to propel growth in the next generation data storage technologies market. Budding demand for automated systems, smart technologies, e-commerce, and the emergence of the internet of things (IoT) is likely to push the next generation data storage technologies market farther. Also, a rise in the demand for scalable and reliable data management technologies in various industrial sectors such as IT firms, automotive industry, and data centers is burgeoning the market for next generation data storage technologies.
Next Generation Data Storage Technologies Market Key Players
Some of the noteworthy players in the next generation data storage technologies market include Dell Inc. (U.S.), VMware, Inc. (U.S.), IBM Corporation (U.S), NetApp, Inc. (U.S.), Hewlett-Packard Development Company (U.S.), Nutanix (U.S.), Sandisk Corporation (U.S.), Micron Technology Inc. (U.S.), Toshiba Corporation (Japan), and Quantum Corporation (U.S.).
Next Generation Data Storage Technologies Industry Update
March 2019: Microsoft has unveiled its research results in DNA digital data storage with the University of Washington where the company, with the help of researchers from the university have automated the translation of digital information into DNA and reverse translation of DNA data into binary digits.
Next Generation Data Storage Technologies Market Segmentation
Market Research Future segments the global next generation data storage technologies market by type, memory, and solution. On the basis of type, the next generation data storage technologies market has been segmented into all-flash arrays, cloud-based storage, magnetic storage, defined storage (SDS), hybrid storage arrays, software, and optical storage. On the basis of memory, the next generation data storage technologies market is segmented into atomic-scale magnetic memory, racetrack memory, phase change memory, hybrid memory, and 3D chip memory. On the basis of solution, the next generation data storage technologies market has been segmented into big data storage, cloud services, enterprise data storage, and computing devices.
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Next Generation Data Storage Technologies Market Detailed Regional Analysis
The global market has been reviewed for various regional segments such as North America, the Asia Pacific (APAC), Europe, and the Rest of the World (RoW) by MRFR. North America is anticipated to dominate the next generation data storage technologies market due to the high presence of many prominent players in the region. Growing input-output device adoption is prompting organizations to adopt better data storage activities and is estimated to propel growth in the next generation data storage technologies market. Europe is likely to follow North America and to hold the second largest share in the global next generation data storage technologies market. The Asia Pacific is prognosticated to witness the fastest growth rate during the forecast period of 2015 to 2022, owing to countries like India and China providing expansion opportunities to players in the global next generation data storage technologies market.
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