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 - Trends, Analysis and Forecast till 2034

Next- Generation Storage Market was valued at USD 72.3 Billion in 2024 and is projected to grow at a CAGR of 8.4% to reach USD 162.5 Billion by 2034.

Next generation storage technology is an advanced portfolio of products and solutions that help to store data of the various end-user industries that include data centers, automotive companies, IT firms, and among others. Next generation data storage provide large file sizes and a huge amount of more and unstructured data, IT companies are facing problems during dealing with data management and data storage. Next generation data storage has developed as an important and essential technology because data generation has been increasing. Next generation storage technologies are used to retrieve data and save the data more efficiently.

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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. However, the lack of data security in the server- based service and the cloud based services is the major restraining factor for the growth of the target 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 is segmented based on, storage system, storage architecture, end- user industry, and region.

Based on the storage system, the target market is segmented into direct attached storage (DAS), network attached storage (NAS), and storage area network (SAN). 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. Based on storage architecture, the global market is classified into file and object-based storage (FOBS) and block storage. Based on end- user industry, the target market is bifurcated into BFSI, retail, IT and telecom, healthcare, media and entertainment, and other end-user industries.

Based on the region the next- generation storage market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. 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.

Next- Generation Storage Market, By Storage System:

• Direct Attached Storage (DAS)
• Network Attached Storage (NAS)
• Storage Area Network (SAN)  

Next- Generation Storage Market, By Storage Architecture:

• File and Object-based Storage (FOBS)
• Block Storage

Next- Generation Storage Market, By End- User Industry:

• BFSI
• Retail
• IT and Telecom
• Healthcare
• Media and Entertainment
• Other End-user Industries  

Next- Generation Storage Market, By Region:

• North America
  • Middle East & Africa
    • Middle East & Africa Next- Generation Storage Market, By Storage System
    • Middle East & Africa Next- Generation Storage Market, By Storage Architecture
    • Middle East & Africa Next- Generation Storage Market, By End- User Industry
    • Middle East & Africa Next- Generation Storage Market, By Country
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • Latin America Next- Generation Storage Market, By Storage System
    • Latin America Next- Generation Storage Market, By Storage Architecture
    • Latin America Next- Generation Storage Market, By End- User Industry
    • Latin America Next- Generation Storage Market, By Country
      • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • Asia Pacific Next- Generation Storage Market, By Storage System
    • Asia Pacific Next- Generation Storage Market, By Storage Architecture
    • Asia Pacific Next- Generation Storage Market, By End- User Industry
    • Asia Pacific Next- Generation Storage Market, By Country
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • Europe Next- Generation Storage Market, By Storage System
    • Europe Next- Generation Storage Market, By Storage Architecture
    • Europe Next- Generation Storage Market, By End- User Industry
    • Europe Next- Generation Storage Market, By Country
      • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • North America Next- Generation Storage Market, By Storage System
  • North America Next- Generation Storage Market, By Storage Architecture
  • North America Next- Generation Storage Market, By End- User Industry
  • North America Next- Generation Storage Market, By Country
    • U.S.
    • Canada

The key players operating the next- generation storage market involves Dell Inc., Hewlett Packard Enterprise Company, NetApp Inc., Hitachi Ltd., IBM Corporation, Toshiba Corp., Pure Storage Inc., Data Direct Networks, and Scality Inc.  Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance, 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.

• Dell Inc.
• Hewlett Packard Enterprise Company
• NetApp Inc.
• Hitachi Ltd.
• IBM Corporation
• Toshiba Corp.
• Pure Storage Inc.
• Data Direct Networks
• Scality Inc.