Next-generation storage is a unique class of technology that deals with the rising demand for improved data storage and management across various verticals of multiple industries. It is helpful in businesses such as banking, financial services, insurance, retail, healthcare, manufacturing, and IT & telecom. As a result of multiple applications in various industries, the global next-generation storage market is experiencing a remarkable growth. The growth is also the result of benefits such as data security, authorized access, and easy remote access while operating the system. Implementation of cloud technology is also promoting the growth of the global next-generation storage market.
A report by Transparency Market Research (TMR) provides a detailed global next-generation storage market. According to the report, the market is expected to experience remarkable growth in future. It offers crucial insights on various facets of the market including key trends, notable developments, competitive landscape, and regional dominance global next-generation storage market.
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Global Next-generation Storage Market: Notable Developments
The global next-generation storage market is highly competitive and is fragmented by the presence of various major players across the globe. There are some companies such as Dell Inc., Hewlett Packard Enterprise Company, NetApp Inc., Hitachi Ltd., and IBM Corporation that dominate the global next-generation storage
market in terms of growth. In order to gain a competitive edge over their competitors, market players are adopting strategies such as mergers and partnerships. They are also collaborating various other players in the market in order to expand their market presence and acquire their technology for expanding their business to the next level.
The businesses are also bringing technological innovations in the market in order to stay ahead of the competition in the global next-generation storage market.
- In November 2018, Hewlett Packard (HP) Enterprise unveiled its new innovations for its intelligent storage solutions to help customers unlock their data’s potential and derive actionable insights. This shall help HP’s customers to improve their revenue stream and deliver a positive impact on their business.
- Carbon Black, a leader in next-generation endpoint security announced its partnership with IBM Security. This will make Cb Predictive Security Cloud of PSC a part of IBM’s newly launched X-Force Threat Management Services to further deal with advanced threats across the entire threat life cycle.
Global Next-generation Storage Market: Key Drivers
The major drivers that are influencing the growth of global next-generation storage market include factors such as a massive increase in digital data volume, proliferated use of devices like laptops, smartphones, and tablets; and substantial growth in the implementation of technologies such as IoT in various businesses. Growth in data-oriented business processes and demand for more customer-centric business operations is also acting as a prominent growth factor for the global next-generation storage market.
Rising security concerns and data breaches calls for major security measurements for the businesses. Next-generation storage solution provides multiple layer encryption along with authorized access to data in the business. This ensures that the collected data is kept secure in the cloud and can be accessed with authorized personnel only. This is yet again helping the global next-generation storage market to experience substantial growth over the period of time.
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Looking at the past events of malicious attacks on the data of various organizations, the need of next-generations storage solutions have raised to greater level. Owing to such incidents of the past and ensuring the security of the data in the future, the global next-generation storage market is expected to witness a significant growth in the future.
Global Next-generation Storage Market: Regional Analysis
North America is expected to be the leader of next-generation storage market in the forecast period of 2018 to 2026. The growth is attributed to the presence of major players of the market in the region. Also, the rising usage of various input-output devices in various businesses is one of the major reason that is boosting North America as the leading region in the global next-generation storage market.
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