Global Next-Generation Storage Devices Market was valued at US$ 45.32 Bn in 2019 and is expected to reach US$ 165.11 Bn by 2026, at a CAGR of 17.54% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Next-generation storage devices deal with an advanced portfolio of products and solutions which aids to store data across different end-user industries that contain IT firms, automotive industries, data centers, and more.
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding next-generation storage devices' market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to emerging segment in the next-generation storage devices market.
Higher functionality, discount in prices of solid-state drives, other cost-effective benefits of the solid-state technology, and longer life duration of the storage devices are expected to boost the growth of the next-generation storage devices market. Moreover, cloud storage is gaining major recognition among world enterprises, owing to its easy availability and low cost of deployment.
Additionally, the cloud offers complete ownership of the storage space and can be retrieved from remote places. However, lack of security necessities in server-based and cloud services, and high primary investment impede the growth of the next-generation storage devices market.
Solid-state technology is expected to grow at the highest rate during the forecast period. Solid-state technologies are one of the fastest and most reliable media for storing data. These technologies do not contain any movable parts and use microchips to store data. Owing to the non-moving parts, the data stored on these devices is more secured.
The cloud storage system segment led the next-generation storage devices market and is expected to continue its dominance throughout the forecast period, owing to the easy availability of cloud storage and lower costs. In a cloud storage system, digital data is stored in an off-site storage system or a remote server kept by a third party and is manageable via the internet. A cloud storage system offers access to the stored data from any location, hence removing data portability issues.
North America's next-generation storage devices market is estimated to show major growth in the forecast period owing to the high approval of technology and the presence of already recognized infrastructure. Asia-Pacific's next-generation storage devices market is projected to grow at a significant rate, owing to a huge rising number of smartphone users.
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Scope of the Global Next-Generation Storage Devices Market: Inquire before buying
Global Next-Generation Storage Devices Market by Architecture
Global Next-Generation Storage Devices Market by Technology
• Hybrid Array
Global Next-Generation Storage Devices Market by System
• Storage Area Network
Global Next-Generation Storage Devices Market by Vertical
• IT Telecommunication
• Media Entertainment
Global Next-Generation Storage Devices Market by Geography
• North America
• Middle East Africa
• South America
Key Players Operating in the Global Next-Generation Storage Devices Market
• Dell, Inc.
• HPE Company
• Hitachi Ltd.
• IBM Corporation
• NetApp, Inc.
• Nutanix, Inc.
• Oracle StorageTek
• Pure Storage, Inc.
• Tintri, Inc.
• Toshiba Corp.
• Dropbox, Inc.
• AMI StorTrends
• Tegile Systems
• IDrive, Inc.
• Microsoft Corporation
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