Data Storage Market Driven by Increased Demand for Cloud Storage Systems

According to a recent market research report from IndustryARC, the demand in the global data storage market will increment at a hefty CAGR of 23% during the forecast period of 2018 to 2023, feeding off growing enterprise emphasis on data collection and several other factors mentioned below. The report is titled “Data Storage Market: By Type (Optical storage device, Magnetic storage device & others), – By Medium (Cache Memory, Dynamic RAM (DRAM) & others) By Application (Enterprise Data, Consumer Storage & Others) By End-Users (Industrial, Banking, Government & others), By Geography - Forecast (2018-2023).”

When using computers or other technologies, data must be stored for future use. Data storage is a term which describes how information is kept in the digital or electromagnetic format for computer use. The data is stored on per account or per application basis in the systems. The stored data can be retrieved, reused and, deleted after the use in the future. The different technologies used to store data includes Hard Disk Drives (HDD), Random Access Memory (RAM), Solid State Drive (SSD), and NAND flash. DNA and RNA, handwriting, phonographic recording, magnetic tapes, and optical discs are examples of data storage media.

Increasing usage of smartphones in urban and some rural areas, growth in new technologies, and rising e-commerce sector are some of the major factors driving the growth of the data storage market. The growing demand for cloud-based storage and the recent increase in enterprise data are the factors further fueling the demand. Recent analysis on data storage says that DNA is used as the future data storage. It is one of the robust storage system available to the customer for decades as only four grams of DNA can maintain multiyear of data created by human.

Browse 66 Market Tables, 177 Figures spread through 151 slides and an in-depth TOC on “Data Storage Market (2018 - 2023)”

Some of the major players operating in the data storage market are DELL EMC, VMware Inc., BM Corporation, IBM 5, and NetApp. DELL offers 160 GB Solid State Drive (SSD), which enables users to store a large amount of data in their systems. It is equipped with a Serial ATA interface which delivers high data transfer rate. It is more efficient, durable, faster, lighter, and cooler than spin drives.

Data storage is the recording of information in the storage medium. Increasing adoption of centralized and micro mobile data centers in companies as well as the growing popularity of cloud are driving the growth of the data storage market. 

Cloud/Mobile Backend As A Service Market: By Service (Data Storage, Push Notification); By deployment type (SaaS, PaaS, IaaS); By Type (Consumer, Enterprise); By Tool ( SDK & API); By Operating System(Android, iOS & other); By Deployment ( Web development, Launch API) ; By end-user Industry (Banking, retail, Educational, Public sector, Healthcare, Research & Analysts, Media, ITes); By Geography - Forecast (2018-2023)