Server Storage Market to grow by USD 54.68 bn from 2021 to 2026 | Evolving Opportunities with Citrix Systems Inc. and DataCore Software Corp. |17000+ Technavio Reports
NEW YORK, Jan. 12, 2022 /PRNewswire/ -- 43% of the growth will originate from North America for the server storage market. The US is a key market for server storage in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America. The rising adoption of high-performance computing (HPC) systems in industry verticals, such as government, BFSI, and healthcare will facilitate the server storage market growth in North America over the forecast period. The server storage market is expected to grow by USD 54.68 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 27.49% as per the latest market report by Technavio.
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Server Storage Market - Driver
The need for data centers is growing, owing to an increase in the adoption of cloud services and the generation of a considerable volume, variety, veracity, and velocity of data across enterprises. Companies, such as Google, Amazon.com, Apple, and Facebook, are investing significantly in building their own data centers. These companies are clients of server storage. As these companies need to build their own data centers, they approach data center construction services and server storage providers for design, engineering services, and mechanical services. Thus, an increase in the investments made by enterprises in building their own data centers will have a positive impact on the growth of the global server storage market. An increase in investments in the construction of data center facilities by enterprises such as Facebook Inc. (Facebook), Amazon.com Inc. (Amazon.com), Apple Inc. (Apple), and Google LLC (Google) will increase the demand for servers and other storage devices, which will drive the growth of the global server storage market during the forecast period.
Server Storage Market - Challenge
The threat of cyberattacks has increased significantly over the past few years. Enterprises across different industry verticals are concerned about the security of sensitive information, such as customers' personal details, financial information, and the organization's intellectual property. Furthermore, new data protection regulations, such as the General Data Protection Regulation (GDPR), are enforcing stringent regulations on enterprises to protect sensitive data. Thus, enterprises must ensure security features, such as data encryption at rest, motion, and use; regulatory compliance; multi-factor authentication; and securing personally identifiable information (PII) before deploying storage systems to prevent such attacks.
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Read the 120 -page report with TOC on "Server Storage Market Analysis Report by Type (enterprise and hyper-scale) and Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts,2022-2026". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/server-storage-market-industry-analysis
Some of the key Server Storage Players:
The server storage market is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
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Server Storage Market Type Outlook (Revenue, USD bn, 2021-2026)
Server Storage Market Geography Outlook (Revenue, USD bn, 2021-2026)
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Enterprise Data Storage Market -The enterprise data storage market has the potential to grow by USD 1.14 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.67%. Download a free sample now!
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