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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
The Asia Pacific Expected to Hold a Major Share in the Global Market for Data Storage
With the growing digitisation and an increase in the number of active mobile users, the demand for data storage is expected to grow in the coming years, especially in the Asia Pacific region. Also, the sale of external hard drives and other storage devices in countries like China and India is driving the market forward. Data storage is an essential requirement for huge corporations and industries, right from banks to huge multinationals. Additionally, technological advancements are expected to drive the data storage industry forward. Early adoption of technology and rapid advancements in the field have provided impetus to the market growth in the region. Moreover, the rising penetration of the internet and increasing volumes of media data transfer are expected to drive the industry forward.
Data Storage Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 26% between 2024 and 2032.
The major drivers of the market include the growing digitalisation, subsequent applications in various end use industries and improvements in technologies.
The key trends of the market include the increasing research and development activities for the development of smart technologies and increasing volume of media data transfer.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The leading storage architectures in the market are file and object based storage and block storage.
The significant storage types in the market are enterprise storage and consumer storage. Enterprise storage can be further segmented into flash storage, cloud based storage, hard disk drive (HDD), software defined storage, and hyper-converged infrastructure, among others. Consumer storage type includes optical disks, memory cards, USB flash drives, solid state devices, and hard disk drives (HDD), among others.
The various storage systems in the market include direct-attached storage, network-attached storage, and storage area network.
The major end uses in the market are media and entertainment, education, IT and telecommunications, defence and aerospace, banking, financial services and insurance (BFSI), and cloud service providers, among others.
The key players in the global data storage market are IBM Corporation, NetApp, Inc., Microsoft Corporation, Pure Storage, Inc., Dell Inc., and Samsung Electronics, among others.
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