Enterprise Storage System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Storage Type (Direct Attached Storage (DAS), Storage Area Network (SAN), Network Attached Storage (NAS), Mixed/Hybrid Storage Environment), By Industry (Healthcare, Retail, Automobile, BFSI, Government, IT & Telecom, Manufacturing, Others), By Region, Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationEnterprise Storage System Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Storage Type (Direct Attached Storage (DAS), Storage Area Network (SAN), Network Attached Storage (NAS), Mixed/Hybrid Storage Environment), By Industry (Healthcare, Retail, Automobile, BFSI, Government, IT & Telecom, Manufacturing, Others), By Region, Competition
The global enterprise storage system market is expected to experience significant growth in the forecast period, driven by the rising adoption of hyper-converged storage solutions by enterprises to meet their expanding business requirements. Vendors worldwide are making noteworthy product innovations by integrating cloud technologies to effectively address customer demands and market trends. The adoption of scalable enterprise storage systems is significantly increasing among enterprises dealing with high data volume and critical information. Factors such as the growing need for large-scale data collection, advancements in enterprise storage systems and equipment, and the rising popularity of camera-equipped smartphones and tablets for business use, are driving the global enterprise storage system market. Enterprise storage systems enable organizations across various industries to control, monitor, and maintain assets, machines, and systems. Moreover, enterprises are increasingly seeking reliable and secure solutions to ensure high business continuity and efficient data management. The expanding digital information and data volume, coupled with investments in data centers by enterprises in North America, Europe, and Asia-Pacific, are expected to drive the growth of global enterprise storage system market during the forecast period.
The Increasing Number of Cloud-Based Solutions to Propel Growth of Market
With the escalating advantages of cloud service integration, enterprises are swiftly embracing cloud-based solutions within their infrastructure. Technology aids in delivering an efficient cloud connection to the network. Cloud-based asset management solutions offer numerous benefits for businesses of all sizes and across industries. Enterprise Storage Systems like Amazon Elastic Block Store (Amazon EBS), Amazon Simple Storage Service (Amazon S3), SUSE Enterprise Storage (SES), and Dell EMC Unity XT empower businesses to choose from a range of object, block, and file storage services, as well as cloud data migration options when selecting their solution. Moreover, as the number of cloud-based solutions continues to rise, the requirements are evolving with the widespread adoption of internet-connected cloud services. According to Eurostat, 41% of EU enterprises utilized cloud computing in 2021, primarily for email and file storage. The use of cloud computing in the EU notably increased in the retail trade sector in 2021 compared to 2020. As the popularity of internet-connected cloud services grows, the demand for effective cloud-based storage system solutions is increasing, particularly for controlling and monitoring industrial equipment. In practice, companies are increasingly reliant on the cloud to properly manage the lifecycle of businesses that require management of large and complex portfolios by supporting their cloud-based applications. Many businesses are leveraging integrated information management systems or hybrid forms of cloud computing and storage. The hybrid architecture offers improved flexibility and security at a lower cost by combining the benefits of both public and private cloud infrastructure. This approach bridges the gap between highly secure private clouds and public clouds with minimal security. As the number of internet users continues to rise, the demand for cloud-based services follows suit. Enterprise storage systems have expanded options due to the utilization of cloud-based services, leading to the implementation of a hybrid cloud strategy to provide additional capacity, resilience, and scalability. Therefore, the increasing number of cloud-based solutions contributes to the growth of the global enterprise storage system market in the forecast period.
The Increasing Investments in Data Centers Driving Growth
The demand for data centers is increasing due to the rising adoption of cloud services and the generation of substantial volume and variety of data across enterprises. Major enterprises like Amazon, Google Cloud, Apple, and Alphabet Inc. are making significant investments in constructing their own data centers. On January 20, 2023, Amazon plans to invest an additional USD35 billion in Virginia data centers as part of the cloud race by 2040. These investments at multiple locations are expected to create approximately 1,000 jobs in Virginia, United States. These businesses rely on enterprise storage solutions to serve their customers and often seek assistance from enterprise storage system suppliers and data center building services for design, engineering, and mechanical services. The increasing corporate investments in constructing data centers are expected to have a positive impact on the global market for enterprise storage systems. Consequently, there will be a rise in demand for servers and other storage devices as businesses invest more in data center construction. For example, on April 21, 2023, Microsoft Corporation received approval to build a new data center in the Hollands Kroon region of the Netherlands after a lengthy permitting process. Additionally, companies like Amazon Data Services have proposed replacing nine office buildings across three locations in Sterling with four data centers, totaling more than 900,000 square feet. These developments are expected to drive the growth of the global enterprise storage systems market throughout the forecast period.
Increasing Use of Hyper Converged Storage in Enterprise Data Storage
The primary focus of the hyper-converged storage platform lies in optimizing primary storage. By eliminating data duplicates and employing a dispersed storage approach, this technology presents a viable solution. Today, organizations demand storage performance that is faster and more reliable than ever before. Accommodating the growing demands in processing, networking, and storage necessitates a hyper-converged architecture that integrates data center services. Furthermore, enterprises are adopting hyper-converged storage to enhance performance efficiency while reducing operational costs. The importance of virtual machines for storing data and running programs, such as operating systems, continues to grow. Modern hyper-converged platforms are being launched to facilitate the deployment of applications. For example, on December 23, 2023, TrueNAS unveiled the TrueNAS R30 Platform, which offers a wide range of new capabilities that will progress through the standard software lifecycle. This storage software builds upon the existing flexibility, interoperability, and storage efficiency to advance the goal of true data freedom. Additionally, the introduction of hyper-converged infrastructure (HCI) has enabled enterprises to deploy virtual machines and efficiently manage their data storage. Moreover, the adoption of hyper-converged solutions has not only popularized cloud deployment but has also allowed enterprises to reduce operating costs and simplify management compared to relying solely on public cloud providers. Consequently, the increasing utilization of hyper-converged storage in enterprise data storage is contributing to the growth of the global enterprise storage system market in the forecast period.
Market Segmentation
Company Profiles
Oracle Corporation, Inspur Group Co. Ltd., Huawei Technologies Co. Ltd., NetApp, Inc., Hitachi Data Systems, Fujitsu Ltd., Hewlett Packard Enterprises, Dell Inc. (EMC Corporation), Lenovo Corporation, IBM Corporation are among the major players that are driving the growth of the global enterprise storage system market.
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Storage Type Industry Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Qatar, Saudi Arabia, UAE, Brazil, Argentina, Colombia |
| Key Companies Profiled | Oracle Corporation, Inspur Group Co. Ltd., Huawei Technologies Co. Ltd., NetApp, Inc., Hitachi Data Systems, Fujitsu Ltd., Hewlett Packard Enterprises, Dell Inc. (EMC Corporation), Lenovo Corporation, IBM Corporation |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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