Banking and financial service industry is leading in the data storage market during 2018 – 2024

The Data Storage Market is expected to grow due to high adoption in cloud storage technology and external data storage devices.

According to the new market research report by IndustryARC titled “Data Storage Market: Applications (Enterprise Data Storage and Consumer Data Storage: Memory Cards, Hard Disk Drive, Others); End-user (Residential, Commercial (Large & small enterprises); Industries (Healthcare, BFSI, IT & Telecom, Others) & By Region – Forecast (2018-2023),” the market will be driven by increasing need of smartphones, Laptops, PC’s and online storage software in small and large enterprises.

Data storage describes the technical means by which digital data is collected and archived for use by a computer or other device. Data storage comprises of primary storage, often referred to as main memory, and secondary or auxiliary storage. In cloud data the order of level in which the data is stored is memory card, HDD or SSD storage, generally adopted by consumers. Cloud storage is preferred by enterprise

North America Dominates in Share and Growth in Data Storage Market

Currently North America is the leading market holder with remarkable growth in data storage solutions. The growing analytics and cloud computing is driving the demand for the new data centre infrastructure. The rapid rise in the economic growth, coupled with an exponential increase in the internet users in the Asia-Pacific region, is likely to drive the market. The substructure allied with the data storage centers is growing in certain countries like India, China and Japan where refurbishing the old ones, is expected to boost the use of data centers. Furthermore, availability of cheap smart phones and reduction decline in the consumer data storage devices, such as hard disk (HDDs), solid state drive (SSDs), is encouraging the backup storage market.

Selected Type and Frequency Analysis Done in the Full Report:

The findings say more than 72% of the global organization will migrate to cloud storage platform. Growing demand for low cost data backup, and security across all the enterprises is boosting the usage of cloud storage adoption. The hybrid cloud storage is anticipated to occupy a significant share of whole cloud storage market for the forecast period of 2018 to 2023. This is due to greater flexibility in comparison to both public and private cloud storage. In end-user verticals BFSI, and retail are the leading adopter of online cloud storage. The usage of Microsoft Azure increased from 26% to 43%, Amazon Web Service (AWS) adoption has increased from 56% to 59%. This is expected to boost the cloud based storage in the enterprise, thus propelling the market growth. Banking and financial service industry is leading in the data storage market.

Selected Driving Factors Mentioned in the Full Report

  • Recently Innovium lnc., declared launching of advanced version switch software platform for data centers. This software has different capabilities, and deliver performance up to 12.8 Tera Byte. The adoption of high efficient, and robust with superior performance data storage is expected to fuel the data storage market growth.
  • Trends like artificial intelligence and machine learning, the Internet of the Things (IoT), software defined storage, object storage and hyper convergence infrastructure storage to increase scalability will help the data storage in impacting businesses.
  • Microsoft announced to launch Archive Blob storage starting at a price of USD 0.002 per gigabyte per month. This storage helps the customers to reduce storage costs by optimizing storage data that is accessed frequently. The storage is developed under the usage in security camera footage, X-Rays in healthcare organizations, audio recording, and transcripts of customers calls in financial services.

To access the full report @ https://industryarc.com/Report/15377/data-storage-market.html

Key Players of the Data Storage Market

The leading players in data storage market for Enterprise Data Storage companies are Alphabet, Inc., Amazon Web Service, Inc., DropBox, Inc., IBM, SAP and Rackspace hosting, Inc. Consumer Data storage Companies are Sony, Toshiba, Freecom, Transcend Information, and Samsung. Amazon Web Service, Inc., has its cloud web storage service Amazon S3 that offers a highly scalable, and secure destination for back-up and archiving of critical data. Dropbox storage service is for the consumers, where all the files are encrypted and stored online in secure server. Transcend Information is one of the leading external data storage devices manufacturer that has products like mircoSD cards, SSD kit, solid state drives that support operating systems like Windows and Mac computers.

The Data Storage Market is Segmented as Indicated Below:

The growing popularity of improvement IoT and adoption of electronic devices will drive the demand for data storage market.

  • Data Storage Market By Applications
    • Enterprise Data Storage
      • Software-Defined Storage (SDS)
        Hard Disk & Flash Storage
        Hyper-Converged Infrastructure
        Cloud-based Storage
    • 2.Consumer Data Storage
      • Memory Cards
      • Hard Disk Drive (HDD)
      • Optical Disk
      • Solid State Devices (SSD)
      • USB Flash Drives
  • Data Storage By End-user
    • Residential
    • Commercial
      • Large Enterprises
      • SMEs
      • Others
  • Data Storage By Industry Verticals
    • Healthcare
    • BFSI
    • IT & Telecom
    • Government
    • Research & Education
    • Aerospace & Defense
    • Others
  • Data Storage Market By Geography (16+ countries)
  • Data Storage Market Entropy
  • Company Profiles
    • Microsoft
    • Oracle
    • ADATA
    • ClearDATA
    • VMware
    • Iron Mountain
    • Company 7
    • Company 8
    • Company 9
    • Company 10

More than 10 companies are profiled in this report

Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer.

What can you expect from the report?

The Data Storage Market Report is prepared with the main agenda to cover the following 20 points:

1. Market Size by Product Categories
2. Market Trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End User Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis

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