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The enterprise data storage market share is expected to increase by USD 11.49 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.67%.
This enterprise data storage market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers enterprise data storage market segmentation by type (SAN, NAS, and DAS) and geography (North America, Europe, APAC, South America, and MEA). The enterprise data storage market report also offers information on several market vendors, including Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Intel Corp., International Business Machines Corp., Melco Holdings Inc., NetApp Inc., Quantum Corp., and Western Digital Corp. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increased adoption of cloud applications is notably driving the enterprise data storage market growth, although factors such as high operating expenses for vendors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the enterprise data storage industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Enterprise Data Storage Market Driver
One of the key factors driving the enterprise data storage market is the growing demand for IoT and big data operations. There will be around 40 billion Internet-connected devices by the end of 2022 worldwide, which is expected to contribute significantly to the growth of the global enterprise data storage market as connected devices will lead to the generation of huge volumes of data. Furthermore, IoT devices demand an energy-efficient network of smart nodes that need to be always interconnected. This also increases the use of enterprise data storage, which helps in saving the data even when the power of the device is off. Moreover, big data analytics has triggered the high-tech expansion of data centers. On-the-go business is a popular trend, and it has been made viable through technological advances within devices such as mobile phones and tablets. Data is continuously being fed into storage systems. For predictive and consumer analytics operations, enterprises use these big data sets. In fact, enterprises have started procuring high-performance storage in data centers such as SAN and NAS systems to enhance their performance. Therefore, with an increase in the demand for big data analytics, the demand for enterprise data storage will also rise during the forecast period.
Key Enterprise Data Storage Market Trend
Software-defined storage is another factor supporting the enterprise data storage market growth in the forecast period. SDS is a form of storage virtualization that is used to separate software services and hardware services. Software services include data administration, data safety, and input/output (I/O) capabilities. The separation of services helps increase the flexibility, scalability, and automation capabilities of enterprise data storage infrastructure. SDS also reduces the overall cost of enterprise storage devices by reconfiguring storage resources that include various systems at a virtualization layer. Moreover, the technology enables resource pooling, abstraction, and automated management while offering storage solutions. It also offers support for legacy applications, big data analytics, and cloud-based data applications. The requirement for efficient data storage is increasing the demand for SDS. Therefore, several vendors, such as EMC, NetApp, and IBM, are offering SDS-enabled storage infrastructure. Adopting new SSD arrays will cost lesser compared to reconfiguring the existing arrays.
Key Enterprise Data Storage Market Challenge
High operating expenses for vendors will be a major challenge for the enterprise data storage market during the forecast period. Depending upon the end-user requirement, different specifications of enterprise data storage need to be designed and developed, which is an expensive task as it requires a high level of speculation in R&D processes. In addition, cloud service providers experience cyclical demand patterns, which create a mismatch between the demand and the supply. This is because of fluctuations in demand from end-user segments, and the market depends highly on the success of devices such as smartphones, tablet PCs, and consumer devices. Moreover, vendors try to align their production with the revenue, but an unexpected and unforeseen change in demand can lead to an oversupply or shortage situation, disturbing the cost during the manufacturing process for storage solutions. In addition, the increasing design complexity of enterprise data storage solutions is hindering the growth of the global enterprise data storage market.
This enterprise data storage market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global enterprise data storage market as a part of the global Internet services and infrastructure market within the global IT services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the enterprise data storage market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the enterprise data storage market encompasses successful business strategies deployed by the key vendors. The enterprise data storage market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The enterprise data storage market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the enterprise data storage market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global Internet services and infrastructure market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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34% of the market’s growth will originate from APAC during the forecast period. The US is the key market for enterprise data storage market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The increasing establishment of data centers in the region will facilitate the enterprise data storage market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic in 2020 had a negative impact across North America. Due to the pandemic, the enterprise data storage market in North America witnessed slow growth. The rising number of COVID-19 cases in the region influenced governments to enforce a lockdown, which led to the closure of enterprises and hindered the sales of enterprise data storage in this region. However, the growing demand for edge data centers in the region will positively impact the market growth. The lockdown in the region compelled people to work from home in order to contain the spread of the pandemic. This further increased data generation and led to a rise in investments in edge data centers due to the growing demand for computing and storage resources to support 5G-enabled applications. This led to an increase in the demand for enterprise data storage across the region during the forecast period.
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The enterprise data storage market share growth by the segments. SAN segment will be significant during the forecast period. SAN storage devices aid in improving storage management and fault tolerance. The construction rate of data centers in developing countries is higher than the rate in developed countries. This will fuel the adoption of SAN storage arrays during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the enterprise data storage market size and actionable market insights on the post-COVID-19 impact on each segment.
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Enterprise Data Storage Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.67% |
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Market growth 2021-2025 |
$ 11.49 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
2.10 |
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Regional analysis |
North America, Europe, APAC, South America, and MEA |
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Performing market contribution |
APAC at 34% |
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Key consumer countries |
US, China, UK, France, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Intel Corp., International Business Machines Corp., Melco Holdings Inc., NetApp Inc., Quantum Corp., and Western Digital Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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