Maharishi university of

information technology

Next generation storage Devices

B Tech in CDS -A
First semester

Submitted by : submitted to:

Khushbu Mr.Navjot Singh

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Content
1. Introduction
2. Next-generation storage technology
3. Global Next Generation Storage Devices Market: Regional Analysis
4. Global Next Generation Storage Devices Market: Competitive Landscape
5. Next-generation Storage Market Analysis
6. Next-generation Storage Industry Overview
7. Market Perspective and CAGR value
8. Segmentation Analysis
9. Top keys players
10.Key Industry Developments
11.Analyst Suggestions
12.Future Outlook
13.Conclusion
14.Reference

Introduction
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Next-generation storage technology deals with an advanced portfolio
of products and solutions, which help store data across various end-
user industries, including IT firms, automotive companies, and data
centers. With the increasing file sizes and a massive amount of
unstructured and Big Data, IT companies face plenty of problems
while dealing with data management.Conventional data storage
technologies cannot handle a large amount of everyday data. The
next- generation data storage infrastructure offers a reliable, faster,
cost-effective solution to meet the growing data storage
demands.Further, the next-generation storage technology market is
moving into the information technology sector, with an extensive
range of applications across Big Data storage, enterprise data
storage,and other cloud-based services. Storage and how it is
addressed can significantly impact the top and bottom lines. IT
organizations are expected to be more willing to move from making a
safe storage investment to investing in new technologies that can
benefit the business.

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Next Generation Storage Devices

The Next Generation Storage Devices Market research report includes Market segmentation and overlays shadow upon
the leading market players highlighting the favourable competitive landscape and trends prevailing over the years. This
study provides information about the sales and revenue during the historic and forecasted period of 2022 to 2030.
Understanding the segments helps in identifying the importance of different factors that aid the Next Generation
Storage Devices market growth. The Next-Generation Data Storage market size is projected to grow from USD 60.7
billion in 2023 to reach USD 86.2 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of
7.3% from 2023 to 2028. Rising data generation with surge in use of mobile and smart wearable devices, surging
adoption of loT technologies and connected devices, rising use of 5G technology, and increasing adoption of NVMe in
enterprise storage systems are the factors driving the growth of the Next-Generation Data Storage industry.

Global Next Generation Storage Devices

Market: Regional Analysis
The Next Generation Storage Devices report offers in-depth assessment of the growth and other aspects of the Next
Generation Storage Devices market in important regions. Key regions covered in the report are North America, Europe,
Asia-Pacific and Latin America.

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The Next Generation Storage Devices report has been curated after observing and studying various factors that
determine regional growth such as economic, environmental, social, technological, and political status of the particular
region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses
region-wise revenue and volume for the forecast period of 2021 to 2030 for Next Generation Storage Devices market.
These analyses will help the reader to understand the potential worth of investment in a particular region into Next
Generation Storage Devices market.

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Global Next Generation Storage Devices
Market: Competitive Landscape
This section of the Next Generation Storage Devices report identifies various key manufacturers of the market. It helps the
reader understand the strategies and collaborations that players are focusing on combat competition in the Next Generation
Storage Devices market. The comprehensive Next Generation Storage Devices report provides a significant microscopic
look at the Next Generation Storage Devices market. The reader can identify the footprints of the manufacturers by
knowing about the global Next Generation Storage Devices revenue of manufacturers, during the forecast period of 2021 to
2030.

Major Key Points of Next Generation Storage Devices Market

 Next Generation Storage Devices Market Overview
 Next Generation Storage Devices Market Competition
 Next Generation Storage Devices Market, Revenue and Price Trend
 Next Generation Storage Devices Market Analysis by Application
 Company Profiles and Key Figures in Next Generation Storage Devices Market
 Market Dynamics for Next Generation Storage Devices market
 Methodology and Data Source for Next Generation Storage Devices market

Next-generation Storage Market Analysis

The next-generation storage market was valued at USD 58.7 billion in the previous year and is expected to
register a CAGR of 7.37% during the forecast period to become USD 88.6 billion by the next five years.
With the sizeable and exponential growth in the digital world, there has been an accelerating development in
mobile services, Big Data, cloud computing, and social networking applications. Next-generation storage
technology deals with an advanced portfolio of products and solutions, which help store data across various
end-user industries, including IT firms, automotive companies, and data centers. With the increasing file
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sizes and a massive amount of unstructured and Big Data, IT companies face plenty of problems while
dealing with data management.

Conventional data storage technologies cannot handle a large amount of everyday data. The next-generation
data storage infrastructure offers a reliable, faster, cost-effective solution to meet the growing data storage
demands.

Further, the next-generation storage technology market is moving into the information technology sector,
with an extensive range of applications across Big Data storage, enterprise data storage, and other cloud-
based services. Storage and how it is addressed can significantly impact the top and bottom lines. IT
organizations are expected to be more willing to move from making a safe storage investment to investing in
new technologies that can benefit the business.

In April 2023, VAST Data announced that Hewlett Packard Enterprise (HPE) had incorporated VAST
Data’s leading file software platform into the new HPE Green Lake for File Storage service. By leveraging
VAST's unique and innovative scale-out software architecture for the new HPE Green Lake for File Storage,
enterprise customers can manage unstructured data with massive performance and achieve faster data
insights.

However, many security issues are associated with cloud-based storage, such as misconfiguration,
insufficient data governance, and poor access controls, among others. Such cloud storage security issues that
can expose enterprise data to unauthorized parties can act as a restraint on market growth.

The COVID-19 pandemic outbreak positively impacted the next-generation storage market, especially
solutions used in cloud storage. Storage vendors were making some of their hardware and software
technology available for free to help researchers, businesses, work-from-home users, and partners run their
businesses and work remotely during the COVID-19 coronavirus pandemic.

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Next-generation Storage Industry Overview
The next-generation storage market is moderately competitive and
consists of some major players. In terms of market share, few of the key
players currently dominate the market. However, with innovation in
memory packaging technology, many companies are increasing their
market presence across untapped new markets of emerging economies.
In May 2023, NetApp announced a new modern block storage offering
and a guarantee highlighting NetApp’s best-in-class ability to recover
from ransomware attacks. Through this launch, the company aims to
address critical customer challenges, including restricted IT budgets,
increasing IT complexity, increased urgency around sustainability, and
the continued exponential growth of cyber threats.
In April 2023, Pure Storage Inc. announced introduction of a next-
generation unified block and file storage service. This new storage
service provides access to native block and file services from a single,
global pool of resources. A unified storage architecture supports block
and file storage formats, allowing organizations to store and view data
in various ways.

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Market Perspective and CAGR value
The global Next Generation Data Storage Market was valued at USD 63.12 billion in 2022 and is
projected to reach USD 116.66 billion by 2030, growing at a CAGR of 7.98% from 2023 to 2030.

The next generation data storage market growth is accelerated by the rising data production with the growing use
of mobile devices and smart wearables. The proliferation of connected devices and the growing adoption of 5G
technology is driving the market growth. Technological advances are a major paradigm shift in the market, which
include e-commerce, smart technologies, and automated systems. In addition, the rising number of research and
funding to develop advanced technologies to meet consumer needs would accelerate the next-generation data
storage market revenues. However, security breaches in cloud and server services and less structured data are the
most significant barriers to the growth of the industry. There are many data security issues associated with cloud
storage, such as configuration errors, inadequate data management, and poor user rights. Such security issues of
cloud storage, which may expose corporate information to unauthorized parties, may hinder the growth of the
market.

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Segmentation Analysis
The global next generation data storage market is segmented based on type, storage type, end-user, and
geography.

Based on type, the market is segmented into direct-attached storage, network-attached storage, storage
area network, and others. The direct-attached storage segment is expected to dominate over the forecast
period. The DAS segment is likely to be driven by the growing number of small and medium enterprises.
The DAS enables various information access functions and these systems do not require a dedicated IT
specialist to manage and maintain, they are built on a simple installation structure and provide backup
and easy access to the database.

Based on storage type, the market is classified into on premise, cloud, and hybrid. The on premise
segment dominated the market in 2022. The on-premises next-generation data storage is best suited for
households or small businesses because of its cost-effectiveness and backup and recovery capabilities,
which expands its usability.

Based on end-user, the market is categorized into banking, financial services & insurance (BFSI), retail,
healthcare, government, telecom companies, and others. The healthcare segment is expected to attain a
dominating share over the estimated timeframe. The segment growth is supported by the growing
utilization of across the healthcare industry to maintain important data about patients and companies
related to various procedures, operations, and services. The demand for efficient data storage solutions is
proliferating due to the increased adoption of electronic health records (EHR) and telemedicine, as well
as broadening attention to data security and compliance to manage and protect data.

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Top keys players

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Key Industry Developments
1. Product Launches and Innovations:
• Leading market players have been introducing new products and innovative solutions to cater to the
evolving storage needs of consumers and enterprises.
• Examples include the launch of high- capacity SSDs with advanced technologies, hybrid drives with
improved caching algorithms, and cloud storage services with enhand security features.
2. Strategic Partnerships and Collaborations:
• Companies in the next generation storage devices market have been forming partnerships and
collaborations to expand their product portfolios and reach new customer segments.
• Collaborations between storage device manufacturers, cloud service providers, and technology vendors
aim to offer integrated storage solutions and seamless data management experiences.
3. Mergers and Acquisitions:
• Market consolidation through mergers and acquisitions has been observed, with larger companies
acquiring smaller players to strengthen their market position and expand their customer base.
• These strategic moves enable companies to gain access to advanced technologies, intellectual property,
and distribution networks, fostering growth and innovation.

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Analyst Suggestions
1. Focus on Product Innovation:
• Continuous investment in research and development is crucial to stay competitive in the rapidly
evolving next generation storage devices market.
• Companies should focus on developing advanced tech improving storage capacitity enhancing data
transfer speeds, and ensuring data security and integrity.
2.Address Data Security Concerns:
• Data security and privacy are major concerns for consumers and enterprises when adopting cloud
storage solutions.
• Storage device manufacturers and cloud service providers should invest in robust security measures,
encryption technologies, and compliance with data protection regulations to gain customer trust.
3. Cater to Industry-Specific Storage Needs:
• Different industries have unique storage requirements based on data volumes, access speeds, and
compliance regulations.
• Companies should develop industry- specific storage solutions tailored to the needs of sectors such as
healthcare, finance, media, and manufacturing.
4. Embrace Emerging Technologies:
Companies should closely monitor emerging storage technologies like SCM and NVMe oF and assess
their potential for market disruption.
• Investing in these technologies early on can provide a competitive advantage and help capture market
share.

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Future Outlook
The future of the global next generation storage devices market looks promising, with sustained growth
expected in the coming years. The increasing demand for high- performance storage solutions, rapid
technological advancements, and the digital transformation across industries will continue to drive
market growth. The adoption of emerging technologies, such as SCM and NVMe-oF, will further
enhance storage capabilities and enable faster data access. However, market players need to address
challenges related to data security, cost- effectiveness, and standardization to unlock the full potential of
next generation storage devices. With the continuous growth of data volumes and the need for efficient
storage and management solutions, the market presents lucrative opportunities for industry participants
to innovate and meet evolving customer demands.

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Conclusion
The global next generation storage devices market is witnessing significant growth, driven by
advancements in technologies like SSDs, hybrid drives, and cloud storage solutions. The market offers
improved performance, higher capacities, and enhanced data access speeds compared to traditional
storage solutions. Key trends include the increasing adoption of SSDs, growing popularity of cloud
storage, demand for high-capacity solutions, and advancements in data transfer technologies.

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Reference
 www.marketsandmarkets.com
 https://marketsreport.info
 www.mordorintelligence.com
 www.kingsearch.com
 YouTube

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