Kenneth Research, in its repository of market research reports, has recently added a report on Next Generation Data Storage Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Next Generation Data Storage Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Next Generation Data Storage Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Next Generation Data Storage Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2021 2030. The Next Generation Data Storage Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
The Next Generation Data Storage Market in North America is anticipated to grow significantly owing to the presence of several key players in the region, along with the increasing need of the organizations in the nation to run on a strong ICT infrastructure.
Global Next Generation Data Storage Market Analysis
According to Verified Market Research, the global Next Generation Data Storage Market was valued at USD 65.85 Billion in 2017 and is projected to reach USD 223.04 Billion by 2025, growing at a CAGR of 16.5% from 2018 to 2025.
What is Next Generation Data Storage?
Next generation data storage technology comprises of all the technologically advanced data storage products and solutions that are used to deal with increasing file sizes and huge amount of unstructured data. This storage technology helps in managing large data securely and also enables reliable, secure and fast recovery of data in a cost-efficient manner. Next generation data storage technology has allowed scalable storage and handling of large data generated by big enterprises. Rising need for improved data storage and management across various industry verticals have stimulated the growth of next generation data storage market.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Global Next Generation Data Storage Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing volume of digital data, rising proliferation of smart devices and growing iot market have been driving the global next generation data storage market. On the other hand, Lacking Data Security in Cloud & Server-Based Services and less Structured Data might hamper the overall market at a global level.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Next Generation Data Storage Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.
Global Next Generation Data Storage Market Competitive Landscape
The “Global Next Generation Data Storage Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Dell Inc., Avago Technologies, EMC Corporation, Hewlett-Packard Development Company, L.P., HGST, Inc., Hitachi Data Systems, IBM Corporation, NetApp, Inc., Avago Technologies, Drobo, Inc. and Micron Technology Corporation.. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.
Global Next Generation Data Storage Market Segmentation, by Storage System
• Direct-Attached Storage
• Network-Attached storage
• Cloud Storage
• Unified Storage
• Storage Area Network
• Software-Defined Storage
Global Next Generation Data Storage Market Segmentation, by Storage Architecture
• File- and Object-based Storage
o File storage
o Object storage
• Block Storage
Global Next Generation Data Storage Market Segmentation, by Application
• Magnetic Storage
o Hard disk
o Magnetic tape
• Solid-State Storage
o All-flash arrays
o Hybrid flash arrays
Global Next Generation Data Storage Market Segmentation, by End user
• Consumer Goods & Retail
• Telecommunications & ITES
• Business & Consulting
Global Next Generation Data Storage Market Geographic Scope
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
• Rest of the World
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