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Global Data Center Storage Market 2019-2023 | 28% CAGR Projection Over the Next Five Years | Technavio

Technavio has announced its latest market research report titled global data center storage market 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

The data center storage market size is expected to post a CAGR of over 28% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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The growing deployment of edge computing is one of the major reasons for the data center storage market growth. Over the past few years, end-user industries such as telecommunication, manufacturing, and energy have been witnessing a significant increase in data generation. This has resulted in the increase in demand for technologically advanced edge platforms. To capitalize on this demand, vendors in the market are focusing on the development of new edge computing platforms to help their clients improve data management capabilities at the edge of the network. This has led to an increase in the investments in the deployment of edge computing. The increasing deployment of edge computing will increase the need for edge data centers which will drive the growth of global data center storage market size during the forecast period.

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As per Technavio, the increasing preference for hyper-converged infrastructure (HCI) in data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Data Center Storage Market: Increasing Preference for Hyper-Converged Infrastructure (HCI) in Data Centers

Hyper converged infrastructure (HCI) is an IT infrastructure which enables convergence of storage and computational functionalities as a single, highly virtualized solution. These systems reduce the data center footprint significantly, eventually leading to the creation of more technical space and core IT space. Also, HCIs offer scalability to the data centers. Customers can add new resources such as servers or storage arrays by connecting a new node to the existing cluster. Furthermore, HCI systems offer a high degree of automation when it comes to storage-related tasks. Therefore, with the rising adoption of HCI systems, the global data center storage market, is anticipated to witness surging growth during the next few years.

“Factors such as the implementation of AI in enterprises, and growing investments in hyperscale data centers (HDCs) will have a significant impact on the growth of the data center storage market value during the forecast period,” says a senior analyst at Technavio.

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Data Center Storage Market: Segmentation Analysis

This market research report segments the data center storage market by deployment (SAN system, NAS system, and DAS system) and geography (APAC, Europe, MEA, North America, and South America).

The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. The growth of the data center storage market share in North America can be attributed to the increasing demand for data centers, driven by the increase in consumer and enterprise data traffic.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191115005367/en/