Next-Generation Data Storage Market Size Growth During Forecast Period

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Next-Generation Data Storage Market Size Growth
During Forecast Period.
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Key Insights from Next-Generation Data Storage
Market

• Next-Generation Data Storage Market size is
  poised to grow at a double digit CAGR from 2019
  to 2025 propelled by massive growth in digital
  data volumes. With the increase in globalization
  and digitalization, there is a massive increase
  in the volume of file and unstructured data.
• The next-generation data storage market offers a
  faster, reliable, secure, scalable, and
  cost-efficient way to store data. The
  next-generation storage is a group of products
  and solutions that solves the problem of data
  storage for sectors such as IT, automotive, and
  data centers. The continuously growing
  information needs space for storage and its
  maintenance are factors driving the growth of the
  market.

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Continued

• The increasing adoption of cloud storage and
  solid-state drivers will act as a driver for the
  next-generation data storage market. The
  solid-state driver is a technology that works on
  integrated circuit assembly, such as electronic
  chips, to store data digitally rather than on any
  magnetized material.
• It offers many advantages such as low noise, low
  heat production, fast operational speed, longer
  life, and less turnaround time. The increasing
  preference for cloud storage is growing due to
  its cost efficiency, global access, and easy
  deployment. Cloud storage is also gaining
  importance in businesses, such as retail and
  healthcare, where data storage and retrieval is
  very important.

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Market research reports Key analytical components

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Major Companies in Next-Generation Data Storage
Market

• Dell
• IBM
• Nutanix
• HP
• Toshiba
• Scality
• Samsung
• Netapp

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Regional Insights Next-Generation Data Storage
Market

Asia Pacific is expected to grow at a significant
rate in the next-generation data storage market
due to vast and speedily increasing consumption
of smartphone users. Another factor, which is
driving this market, is the rise in low-cost
tablets, wearables devices, and smartphones. As
most of the regions are price sensitive, they
offer extremely suitable condition for the
adoption of next-generation data storage devices
specifically solid-state drive. In addition, the
growing demand for data storage in SMEs and
government initiatives for multimillion-dollar
technology investments in various business
verticals will help the market to grow.
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