Next-generation Storage Market Trends

Statistics for the 2023 & 2024 Next-generation Storage market trends, created by Mordor Intelligence™ Industry Reports. Next-generation Storage trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Market Trends of Next-generation Storage Industry

Direct Attached Storage (DAS) to Witness Significant Growth

  • Direct Attached Storage (DAS) is the oldest and most conventional data storage system connected directly to a computer, such as a PC or server, unlike other storage systems connected to a computer over a network.
  • DAS offers specific benefits compared to other storage systems that play an essential role in many organizations' storage strategies: high performance, easiness during the setup and configuration, fast access to data, and low cost.
  • DAS can provide users with better performance than network storage because the server does not have to traverse the network to read or write data. For this reason, many organizations utilize his DAS for applications that require high performance. DAS is also less complex than network-based storage systems, making them easier to implement and maintain and less expensive.
  • Moreover, growing advances in virtualization technology are breathing new life into DAS, especially in the market's hyper-converged infrastructures (HCI) systems. The HCI system consists of multiple servers and DAS storage nodes, and the storage is aggregated into logical resource pools, providing a more flexible storage solution than traditional DAS.
  • Generally, DAS offers high storage performance to the computer system it is directly attached to, owing to the advantage of fast computer bus interfaces, such as SAS and SATA, and the close location of data to the system's RAM and processor.
  • In May 2022, TerraMaster recently released a new 8-bay Direct Attached Storage (DAS) appliance for customers who need a central location to store large amounts of data. Unlike NAS, DAS is used locally via a cable connected directly to a PC or other device. The new TerraMaster D8-332 is professional RAID storage with up to 160TB capacity.
  • One common application of DAS is in data centers. Applications like web hosting use DAS, where customers want their private storage devices connected to their dedicated server. DAS is also commonly utilized in data use centers as storage for booting operating systems and hypervisors.
Next-generation Storage Market: Amount of Data Actually Stored in Data Centers, in exabytes, Worldwide, 2015 - 2021

North America Occupies the Largest Market Share

  • The country's next-generation storage market will witness a high growth rate due to the increasing regional concentration of global vendors and consumers.
  • The United States remains one of the top markets for data centers globally. Also, in April 2022, Google announced plans to invest USD 9.5 billion in data centers and offices nationwide. The tech giant will be building or expanding 14 data centers in the US states like Georgia, Texas, New York, and California, among others. Such increasing investments in data centers are also creating considerable growth opportunities for the market.
  • Moreover, the data-heavy Internet of Things (IoT) devices constitute another emerging market for next-generation storage. These applications primarily cover a wide range. Industrial automation in the form of Factory 4.0 is one segment. Still, the IoT also includes wearables, healthcare, aviation, plus about anything that begins with smart, such as smart homes, smart farms, smart metering, and smart logistics, among others.
  • According to a Stanford University and Avast study, homes in the North American region have the highest density of IoT devices installed worldwide. Notably, 66% of households in the region have at least one of her IoT devices. Additionally, 25% of North American homes have three or more devices.
  • Additionally, increasing Internet traffic and user-generated data contribute to the market growth, with North America having the highest volume of IP traffic. According to CISCO, IP traffic in the region will reach 108.4 EB per month by 2022.
  • According to Ericsson's report, the average monthly mobile data usage per smartphone is likely to reach 55 GB in 2028 in North America. The improved 5G network and unlimited data plans will attract more 5G subscribers in the region. Video-based apps, virtual/augmented reality, and gaming generate huge data traffic. In 2028, the company predicts that 5G subscriptions in North America will be more than 90%world's, the highest among all regions.
Next-generation Storage Market - Growth Rate by Region

Next-generation Storage Market Report Snapshots

Next-generation Storage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)