The next- generation storage expands the volume of the digital to manage the data effectively for an organizations is the major propelling factor for the growth of the global market. For instance, EMC have developed a new technology solution in order to solve the data storage problems and also the Micron and Intel developed Intel and Micron have developed 3D NAND technology for the reducing the processing time in the solid-state drives. Additionally, the increasing adoption of the solid- state devices drives the growth of the target market. Moreover, rise in proliferation of the smartphone, laptop, and tablets leads to generated data on the daily bases which is another fueling factor for the growth of the global market. Nevertheless, the improving data security system for the data storage can create an opportunity for the growth of the next- generation storage market. Next- Generation Storage Market was valued at US$ 72.3 billion in 2024 and is projected to grow at a CAGR of 8.4% to reach US$ 162.5 billion by 2034.

The report "Next- Generation Storage Market, By Storage System (Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN)), By Storage Architecture (File and Object-based Storage (FOBS) and Block Storage), By End- User Industry (BFSI, Retail, IT and Telecom, Healthcare, Media and Entertainment, and Other End-user Industries), and Region - Global Forecast to 2034"

Key Highlights:

• In April 2019, Dell Inc. introduced next generation midrange platform, Unity XT that offers improved data reduction capabilities, performance boost, and also offers being NVMe ready. Dell Inc. cloud storage services also provide unique access from Dell EMC storage solutions to the cloud.

Key Market Insights from the report:        

Next- Generation Storage Market was valued at US$ 72.3 billion in 2024 and is projected to grow at a CAGR of 8.4% to reach US$ 162.5 billion by 2034. The market report has been segmented on the basis of storage system, storage architecture, end-user industry, and region.

• By storage system, SAN is the dominating segment due to increase in demand for effective management of vast amount of data at low cost and ability to provide better flexibility
• By storage architecture, the global market is classified into file and object-based storage (FOBS) and block storage
• By end- user industry, the target market is bifurcated into BFSI, retail, IT and telecom, healthcare, media and entertainment, and other end-user industries.
• By region, the market in North America accounts highest revenue share to the global next- generation storage market due to growing internet traffic and user generated data. The Asia Pacific next- generation storage market is expected to grow fast due to surge in data generated from various digital products and services.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Next- Generation Storage Market”, By Storage System (Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN)), By Storage Architecture (File and Object-based Storage (FOBS) and Block Storage), By End- User Industry (BFSI, Retail, IT and Telecom, Healthcare, Media and Entertainment, and Other End-user Industries), and by Region – global forecast till 2034"

The prominent player operating in the global next- generation storage market includes Dell Inc., Hewlett Packard Enterprise Company, NetApp Inc., Hitachi Ltd., IBM Corporation, Toshiba Corp., Pure Storage Inc., Data Direct Networks, and Scality Inc. 

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