USD 66.67 Billion
Next-Generation Data Storage Market Size, Share, and Growth Analysis
Next-generation Data Storage Market By Storage System (Direct-attached Storage, Network-attached Storage), By Storage Medium, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45A2387 |
Region:
Global |
Published Date: December, 2024
Pages:
188
|Tables:
149
|Figures:
71
Format -
Next-Generation Data Storage Market Insights
Next-Generation Data Storage Market size was valued at USD 66.67 Billion in 2023 and is poised to grow from USD 71.58 Billion in 2024 to USD 117.76 Billion by 2032, growing at a CAGR of 7.37% during the forecast period (2025-2032).
A growing number of internet users will see an increase in the amount of digital data generated through online payment gateways, websites, media entertainment, IoT devices and artificial intelligence (AI). This increase is driving the demand for next generation data storage for industry to store data. It can also create databases and analyze future business data. This reduces data corruption & loss and speeds up data recovery.
Traditional data storage technologies cannot handle large amounts of data used daily. Next-generation data storage systems provide reliable, fast and cost-effective solutions to meet increasing data storage demands. In addition, the next-generation data storage market is moving into the IT industry, including big data storage, enterprise data storage, and other cloud-based services. IT companies will be more willing to invest in new technologies that can support the business than in secure storage.
In April 2023, VAST Data announced that Hewlett Packard Enterprise (HPE) integrated the flagship VAST Data file software platform with the new HPE GreenLake for File Storage service. But there are many security issues associated with cloud-based storage, such as misconfiguration, inadequate data governance, and inadequate accessibility among others.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Local
Fastest Growth
Hybrid
Growth Rate
7.37% CAGR
Global Next-Generation Data Storage Market ($ Bn)
Country Share for North America Region (%)
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Next-Generation Data Storage Market Segments Analysis
Global Next-generation Data Storage Market is segmented by Storage System, Storage Medium, Storage Architecture, Deployment, End User, and Region. Based on Storage System, the market is segmented into Direct-attached Storage, Network-attached Storage, and Storage Area Network. Based on Storage Medium, the market is segmented into Hard Disk Drives, Solid-state Drives, Tapes. Based on Storage Architecture, the market is segmented into File- And Object-based Storage, Block Storage. Based on Deployment, the market is segmented into On-premises, Cloud, Hybrid. Based on End User, the market is segmented into Enterprises, Government Bodies, Cloud Service Providers, and Telecom Companies. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Storage System
Direct-attached storage (DAS) is the dominant segment in the market. The direct-attached storage (DAS) segment led the market with the largest revenue share of 36.01% in 2023. The basics and initial design of DAS provides data for various users, any PC or laptop can access their DAS directly, or through a web browser. The low cost of DAS technology is driving its penetration into small and medium enterprises. DAS offers better performance than other storage solutions such as Network-Attached Storage (NAS) and Storage Area Networks (SAN) because of its direct connection to the host computer.
Network-attached storage (NAS) is the fastest growing in the market. The network-attached storage (NAS) segment is expected to follow the fastest CAGR during the forecast period. The ease of use of NAS platforms, with features such as automatic data backup and expanded storage space, and affordability, make NAS an attractive option. The growth of this phase remains fueled by using the growing need for more than one customer to get access to data from the related devices. NAS systems provide smooth access to data over the community with remote access. This characteristic is particularly useful for the organizations with dispensed teams or remote employees, as it ensures direct entry to statistics from any location with a web connection.
Analysis by Storage Type
The local storage segment led the market achieving the highest revenue share of 52.58% in 2023. This segment is primarily associated with high performance. Local storage is well suited for the businesses that residential or small businesses due to low cost and backup & recovery capabilities. But low capacity and low reliability of local storage are some of the key challenges that may hinder its adoption to some extent during the forecast period. On-premises storage enables organizations to consume their data solely, a key factor for businesses dealing with sensitive information is reduced, ensuring a high level of data protection.
The hybrid storage type segment is expected to grow at the fastest CAGR during the forecast period. A hybrid storage system uses local resources and off-site resources to manage data. As a result, hybrid storage systems allow enterprises to switch workloads between private cloud or on-premises data storage and use public clouds to host applications and data. There is a growing need to manage the large amounts of structured and the unstructured data. It is a key contributor to the promising growth of this sector soon. They also increase the capacity for recovery. By replicating critical data between on-premises and cloud storage environments, organizations can reduce the risk of data loss due to hardware failure, natural disasters, or cyber-attacks. This redundancy ensures that data will maintain availability and reduce uptime in the event of a storage system failure or outage.
Global Next-Generation Data Storage Market By Storage Type (%)
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Next-Generation Data Storage Market Regional Insights
North America dominating the next-generation data storage market with a revenue share of 37.46% in 2023. North America leads this market as a technological innovation hub, with leading companies growing in storage industrial and industrial sectors in the region, especially in data-intensive sectors such as finance, healthcare and technology. The regulatory environment in North America mandates secure storage, in addition to providing demand adoption of scalable solutions to manage the volume of data carried by the adoption of digital transformation systems and cloud computing is further stimulated. Partnerships between storage and cloud providers, coupled with ongoing investments in infrastructure and services, reinforce North America region in the market dominance.
The next-generation data storage market in Asia Pacific is expected to grow at the fastest CAGR during the forecast period, owing to its rapid digital transformation, expanding IT infrastructure, infrastructure is due to increasing modern effort. The growing market is driven by governments promoting digital initiatives, growing data privacy concerns, businesses. Asia Pacific investing in advanced storage solutions to consume regulations and support innovation while strategic networking and investments in leading technology companies accelerate market growth. The increased growth of mobile data is driving demand for storage solutions tailored to mobile workloads with Asia Pacific's continued digitization and the use of technology presents significant growth opportunities for storage vendors looking to capitalize on the region's dynamic market.
Global Next-Generation Data Storage Market By Geography
- Largest
- Fastest
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Next-Generation Data Storage Market Dynamics
Next-generation Data Storage Market Drivers
Increased Data Development Across Industries
- Exponential growth of data in various industries like healthcare, finance, retail, telecom is rising. With the proliferation of data-intensive applications such as AI, IoT, big data analytics this data explosion increases exponentially, scaling of the creating an urgent need for storage solutions. Traditional storage systems cannot meet these data demands, prompting enterprises to invest in next-generation data storage solutions that offer more capacity, faster speeds and performance. Data continues to grow at an unprecedented pace through the adoption of these advanced storage technologies and that will drive market growth.
Increasing Adoption of Cloud Storage
- The increasing shift to cloud computing is another major driver in the next-generation data storage market. Cloud storage offers businesses flexibility, scalability and cost savings, making it desirable to manage large amounts of data. Organizations are moving more of their data and workloads to the cloud to reduce capital costs, increase disaster recovery capabilities, and provide remote access. The rise of hybrid and multi-cloud options that drives the demand for advanced storage solutions and can manage data and thrive on cloud platforms.
Next-generation Data Storage Market Restraints
Increased Initial Costs of Advanced Storage Solutions
- A key restriction in the next-generation data storage market is the high initial cost associated with deploying advanced storage solutions. Technologies such as solid-state drives (SSDs), hyperconverged infrastructure (HCI), and storage class memory (SCM) offer significant performance improvements, but higher prices compared to traditional storage systems. The cost of upgrading to next-generation storage solutions can be a significant financial burden, limiting their ability to adopt this technology even though cloud storage offers a cost-effective alternative next generation availability. Storage solutions may continue to face adoption challenges due to their capital requirements.
Challenges in Managing Hybrid Storage Areas
- As organizations increasingly adopt hybrid storage environments, managing and optimizing data storage across on-premises, cloud, and edge infrastructure will become increasingly difficult. To ensure seamless data integration and collaborate across storage platforms can be challenging, requiring specialized skills and advanced management tools for organizations. These challenges that can lead to inefficiencies, data silos, and rising operating costs are hindering the widespread adoption of next-generation storage technologies, especially among small businesses that may not have the expertise to effectively implement hybrid storage architectures.
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Next-Generation Data Storage Market Competitive Landscape
The competitive landscape of the next-generation data storage market is characterized by intense competition between key players striving to innovate in the growing demand for high-performance storage solutions. Major companies such as Dell Technologies, Hewlett Packard Enterprise, IBM, NetApp, Hitachi Vantara Dominating markets. Startups and niche players offering a wide range of solutions including cloud-based, solid state and ultra -complete storage systems have AI-powered storage management and data security solutions. Strategic partnerships, acquisitions, and product innovation are common as companies seek to gain competitive advantage.
Top Players in Next-Generation Data Storage Market
- Dell Inc.
- Hewlett Packard Enterprise Company
- NetApp
- Huawei Technologies Co., Ltd.
- Pure Storage, Inc.
- Hitachi, Ltd.
- Fujitsu
- IBM Corp.
- DataDirect Networks
- Micron Technology, Inc.
- Cloudian
- Quantum Corp.
- Western Digital Corp.
- Samsung Electronics Co., Ltd.
- Nutanix
- Seagate Technology LLC
- Scality
- Netgear, Inc.
- Inspur Group
- SK Hynix
Recent Developments
- In February 2024, Dell Inc. announced the introduction of two new nodes to its all-flash lineup—the Dell PowerScale F210 and F710. This release provides customers with the latest generation of high-performance file storage systems, using premium PowerEdge servers to support workloads that require a very large compute Integrated with the latest OneFS software. PowerScale serves as a comprehensive data platform for AI, delivering unparalleled performance and scalability, exceptional performance, federated-grade security, and multicloud agility.
- In May 2023, NetApp delivers new modern block storage offerings and NetApp's best at academic transparency and assurance to recover from ransomware attacks announced Class-power. Through this launch, the company aims to address critical customer challenges, including restricted IT budgets, increasing IT complexity, increased urgency in sustainability of, and a general increase in cyber threats.
- In April 2023, Pure Storage Inc. announced the launch of a next-generation integrated block file storage service. This new storage service provides access to native block and file operations from the global resources available. The unified storage architecture supports block and file storage formats, enabling organizations to store and view data in multiple formats.
Next-Generation Data Storage Key Market Trends
- Application of Artificial Intelligence and Machine Learning to Inventory Management: Intelligence (AI) and machine learning (ML) are gaining prominence in the next-generation data storage market. AI-powered storage solutions enable data automation, predictive analytics, and self-healing capabilities that optimize productivity and efficiency. These intelligent storage systems can predict how data will be accessed, improve data retrieval speed, and automate business processes, reducing the need for manual intervention. The adoption of ML in storage management helps organizations overcome the challenges of data volume and data security management and compliance. This trend is expected to increase as companies continue to use AI to enhance their inventory.
- More Focus on Data Security and Privacy: With the rise of cyber threats and data breaches, more emphasis is being placed on data security and privacy. In the next-generation data storage market organizations are providing storage solutions that provide security features robustness including encryption, access control and multifactor authentication, takes high priority. In addition, stringent data protection regulations such as GDPR and CCPA are driving demand for secure encryption solutions that ensure compliance with data privacy laws. As a result, the next generation of repositories are focused on solutions that not only deliver superior performance but improved security to protect sensitive data from unauthorized access or breach.
Next-Generation Data Storage Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the next-generation data storage market will see enormous increase, pushed with the aid of large growth in data volumes throughout industries and the increasing adoption of cloud solutions. As organizations struggle with the amount of data they store, they turn to advanced scalable technologies. Such great things as AI and machine learning are adopted in warehouse management, leading to flexibility and productivity improvements offered, and a focus on data security. But the high initial cost of these advanced solutions and the challenges of managing hybrid storage environments present challenges to their widespread adoption.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 66.67 Billion |
| Market size value in 2032 | USD 117.76 Billion |
| Growth Rate | 7.37% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Next-Generation Data Storage Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Next-Generation Data Storage Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Next-Generation Data Storage Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Next-Generation Data Storage Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Next-Generation Data Storage Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Next-Generation Data Storage Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Next-Generation Data Storage Market Report Snapshots
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