Enterprise Data Storage Market size to grow by USD 1.14 Bn | High adoption of SaaS applications to be key trend | Technavio
NEW YORK, Nov. 22, 2021 /PRNewswire/ -- The global enterprise data storage market size is expected to grow by USD 1.14 billion from 2020 to 2025. Technavio's latest market research report estimates that the enterprise data storage market will be progressing at a CAGR of 4.67%.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Although the increased adoption of cloud applications and the growing demand for IoT and big data operations will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The report covers the following areas:
Enterprise Data Storage Market 2021-2025: Segmentation
By type, the market generated maximum revenue in the SAN segment in 2020. Storage area network (SAN) devices offer better flexibility, availability, and performance compared to DAS or NAS storage systems, which is driving the growth of the segment. In terms of geography, APAC will offer significant growth opportunities for enterprise data storage solution providers during the forecast period. The region currently holds 34% of the global market share and is expected to remain the largest market for enterprise data storage by 2025. China and Japan are the key markets for enterprise data storage in APAC.
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Enterprise Data Storage Market 2021-2025: Vendor Analysis and Scope
Some of the major vendors of the enterprise data storage market include 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. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market. Backed with competitive intelligence and benchmarking, our research report on the enterprise data storage market is designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
The high adoption of saas applications by enterprises is likely to emerge as the major trend in the market. However, high operating expenses for vendors may threaten the growth of the market.
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Enterprise Data Storage Market 2021-2025: Key Highlights
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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