Data Center Storage Market by Deployment and Geography - Global Forecast and Analysis 2019-2023
About this market
The shift of preference from the legacy protocols like SAS/SATA to the Non-Volatile Memory Express (NVMe)-enabled storage solutions is one of the major factors driving the growth of global data center storage market size. NVMe protocol helps in accelerating data transfer between the processing system and SSDs over a high-speed Peripheral Component Interconnect Express (PCLe) bus. Backed with PCLe interface, NVMe-enabled SSD can connect to the host computer and achieve higher speeds when compared to the SATA interface. Unlike traditional storage solutions, NVMe-enabled SSDs have better storage as well as operational advantages. They consume less power and offer reduced latency along with higher input/output operations per second (IOPS). Such benefits are driving data center operators to adopt NVMe-enabled storage solutions in data centers. This is expected to support the growth of the global data center storage market size at a CAGR of more than 28% during 2019-2023.
Growing deployment of edge computing
The high volume of data generated from end-user industries such as telecommunication, manufacturing, and energy has increased the demand for technologically advanced edge platforms. Many vendors in the market are developing more advanced edge platforms to improve the data management capabilities of their clients at the edge of the network. The growing deployment of edge computing is expected to increase the demand for storage solutions for data centers.
High initial costs
The high costs associated with the implementation of data center service operations is expected to hinder the growth of the global data center storage market. Such costs are considered to be recurring, including the regular expenditure on maintenance and operation. This has prompted companies to shut down their on-premises data centers and is discouraging newer enterprises to enter the market.
For the detailed list of factors that will drive and challenge the growth of the data center storage market size during the 2019-2023, view our report.
The market fairly concentrated with few companies occupying the market share. Companies such as Dell Technologies Inc. and Hewlett Packard Enterprise Development LP have intensified the competition. Factors such as the increasing demand for Non-Volatile Memory Express-enabled storage solutions and the growing deployment of edge computing will provide significant growth opportunities for data center storage solution providers. Dell Technologies Inc., Hewlett Packard Enterprise Development LP¸ Huawei Technologies Co. Ltd., IBM Corp., and NetAPP Inc. are some of the major companies covered in this report.
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