Key Insights
The North America next-generation storage market is experiencing robust growth, projected to reach a substantial size driven by increasing data volumes, the proliferation of cloud computing, and the rising adoption of advanced technologies like AI and machine learning. The market's Compound Annual Growth Rate (CAGR) of 6.29% from 2019 to 2024 indicates a steady upward trajectory. Key segments within this market include Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN) storage systems. Furthermore, the shift towards File and Object-based Storage (FOBS) and block storage architectures is accelerating, driven by their scalability and flexibility. Major end-user industries fueling this growth are BFSI (Banking, Financial Services, and Insurance), retail, IT and telecom, healthcare, and media and entertainment. These sectors require robust and efficient storage solutions to manage their ever-expanding datasets and ensure business continuity. The competitive landscape includes established players like IBM, Hewlett Packard Enterprise, NetApp, and Dell, alongside emerging innovative companies like Scality and Pure Storage, constantly pushing technological boundaries. The dominance of North America in this market is largely attributed to the region's advanced technological infrastructure, high digital adoption rates, and substantial investments in data centers. Future growth will likely be influenced by factors such as advancements in data security, the increasing demand for hybrid and multi-cloud storage solutions, and ongoing technological innovations within the storage sector.
The continued growth of the North American next-generation storage market hinges on several key factors. The increasing adoption of digital transformation initiatives across various industries necessitates scalable and efficient storage solutions. This is particularly true for data-intensive sectors such as BFSI, which rely heavily on secure and reliable storage for financial transactions and customer data. The rise of big data analytics and the burgeoning Internet of Things (IoT) are further contributing to the exponential growth in data, demanding advanced storage technologies. Furthermore, the increasing emphasis on data security and compliance regulations are driving the adoption of sophisticated storage solutions with enhanced security features. Competition within the market remains intense, with established players and newer entrants vying for market share through innovation and strategic partnerships. The market's future will be shaped by factors such as the evolving cloud computing landscape, the increasing demand for edge computing solutions, and ongoing developments in storage technologies like NVMe (Non-Volatile Memory Express).
North America Next Generation Storage Market Report: 2019-2033
This comprehensive report provides an in-depth analysis of the North America Next Generation Storage Market, offering valuable insights for industry professionals, investors, and strategic decision-makers. The study covers the period from 2019 to 2033, with a focus on the forecast period of 2025-2033 and a base year of 2025. The market is segmented by storage system (DAS, NAS, SAN), storage architecture (FOBS, Block Storage), and end-user industry (BFSI, Retail, IT & Telecom, Healthcare, Media & Entertainment). Key players analyzed include IBM Corporation, Fujitsu Ltd, Toshiba Corp, Hewlett Packard Enterprise Company, Scality Inc, Hitachi Ltd, Netgear Inc, Dell Inc, DataDirect Networks, NetApp Inc, and Pure Storage Inc. The report projects a market size of xx Million by 2033, representing a CAGR of xx%.
North America Next Generation Storage Market Structure & Innovation Trends
The North American next-generation storage market exhibits a moderately concentrated structure, with a few dominant players holding significant market share. IBM Corporation, Dell Inc., and NetApp Inc. collectively account for approximately xx% of the market. However, the market also features several smaller, specialized vendors focusing on niche segments, fostering innovation and competition.
Key Market Structure Characteristics:
- High R&D Expenditure: Major players consistently invest heavily in R&D to develop advanced storage technologies, such as NVMe-based solutions and AI-powered data management systems.
- Strategic Acquisitions & Mergers (M&A): The market witnesses considerable M&A activity, with larger companies acquiring smaller firms to expand their product portfolios and market reach. Recent deals, such as the June 2022 Nasuni Corporation acquisition of Storage Made Easy, illustrate this trend, valued at approximately xx Million.
- Stringent Regulatory Compliance: Data privacy regulations (e.g., GDPR, CCPA) are driving demand for secure and compliant storage solutions, impacting market growth and vendor strategies.
- Product Substitutes: Cloud storage services are emerging as a significant substitute for traditional on-premises storage solutions, posing a challenge to established players. However, hybrid and multi-cloud approaches are also gaining traction.
- End-User Demographics: The market is largely driven by large enterprises and data centers in BFSI, IT & Telecom, and Media & Entertainment sectors. However, growing adoption in smaller businesses and the rise of edge computing are creating new opportunities.
North America Next Generation Storage Market Dynamics & Trends
The North American next-generation storage market is experiencing robust growth, fueled by several key factors. The increasing volume of data generated across diverse industries is a primary driver, necessitating advanced storage solutions with higher capacity, speed, and efficiency. Technological advancements, such as NVMe technology and the proliferation of cloud storage, are further accelerating market expansion.
The market's growth is characterized by a shift towards cloud-based and hybrid storage architectures, driven by enhanced scalability, cost-effectiveness, and accessibility. Consumer preferences are leaning towards solutions that offer improved data security, disaster recovery capabilities, and simplified management. Competitive dynamics are shaped by intense innovation, strategic partnerships, and a focus on providing comprehensive data management services. The market penetration of next-generation storage solutions continues to increase across various sectors, projected to reach xx% by 2033.
Dominant Regions & Segments in North America Next Generation Storage Market
The United States represents the largest segment of the North American next-generation storage market, driven by its robust IT infrastructure, high data generation rates, and presence of major technology companies. Among storage systems, SAN dominates due to its high performance and scalability, particularly in enterprise environments. Within storage architectures, Block storage is also dominant, offering high performance and ease of integration with virtualization technologies. The BFSI sector is the largest end-user, driven by stringent regulatory requirements and the need for robust data security.
Key Drivers for Dominance:
- United States: High concentration of data centers, strong IT infrastructure, robust economic growth.
- SAN: High performance, scalability, and established integration with enterprise IT systems.
- Block Storage: High-performance, efficient integration with virtualization and cloud environments.
- BFSI: Stringent data security and compliance needs, large data volumes.
Detailed Dominance Analysis: The dominance of these segments can be attributed to several factors, including existing infrastructure investments, regulatory pressures, and technology advancements making these options better suited to current needs than alternatives. The continued growth of cloud computing is expected to shift some dominance towards cloud-based solutions and services in the coming years.
North America Next Generation Storage Market Product Innovations
Recent product developments highlight a strong trend towards increased storage density, improved performance, and enhanced data management capabilities. Innovations such as NVMe-based storage arrays and AI-powered data analytics tools are gaining traction, addressing the growing need for efficient data processing and storage. Companies are focusing on developing solutions that integrate seamlessly with cloud environments and support hybrid and multi-cloud architectures. These innovations are proving pivotal in expanding the reach and utility of next-generation storage technologies in diverse industries.
Report Scope & Segmentation Analysis
This report segments the North American next-generation storage market across three key dimensions:
Storage System: Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN). Each segment demonstrates unique growth trajectories influenced by factors like cost, performance, and complexity.
Storage Architecture: File and Object-based Storage (FOBS) and Block Storage. FOBS solutions show strong growth due to their adaptability to unstructured data, while Block Storage is preferred for high-performance applications.
End-User Industry: BFSI, Retail, IT and Telecom, Healthcare, and Media and Entertainment. The BFSI sector displays the highest growth due to strict regulatory compliance and increasing data volumes, while the IT and Telecom sectors drive demand for high-performance solutions. Each segment presents distinct market sizes and competitive landscapes.
Key Drivers of North America Next Generation Storage Market Growth
The growth of the North American next-generation storage market is driven by several factors:
- Data Explosion: The exponential increase in data generated across industries requires advanced storage solutions.
- Cloud Adoption: Cloud-based storage solutions offer scalability, cost-effectiveness, and accessibility, boosting market growth.
- Technological Advancements: Innovations like NVMe and AI-powered data management are improving performance and efficiency.
- Government Initiatives: Initiatives promoting digital transformation are driving investments in advanced storage infrastructure.
Challenges in the North America Next Generation Storage Market Sector
Several challenges hinder the growth of the North American next-generation storage market:
- High Initial Investment Costs: The implementation of next-generation storage solutions can be expensive, deterring some businesses.
- Data Security Concerns: Data breaches and cybersecurity threats pose a major challenge, requiring robust security measures.
- Complex Integration: Integrating next-generation storage solutions with existing IT infrastructure can be complex and time-consuming.
- Vendor Lock-in: Dependence on specific vendors can limit flexibility and increase costs.
Emerging Opportunities in North America Next Generation Storage Market
The North American next-generation storage market presents several emerging opportunities:
- Edge Computing: Growing adoption of edge computing requires decentralized storage solutions.
- AI-powered Data Management: AI-driven data management tools can optimize storage utilization and improve efficiency.
- Hybrid and Multi-cloud Solutions: Flexible storage solutions supporting hybrid and multi-cloud environments are gaining traction.
- Data Analytics: The integration of data analytics capabilities in storage solutions can provide valuable insights.
Leading Players in the North America Next Generation Storage Market Market
- IBM Corporation
- Fujitsu Ltd
- Toshiba Corp
- Hewlett Packard Enterprise Company
- Scality Inc
- Hitachi Ltd
- Netgear Inc
- Dell Inc
- DataDirect Networks
- NetApp Inc
- Pure Storage Inc
Key Developments in North America Next Generation Storage Market Industry
- July 2022: QNAP Systems, Inc. launched an industrial 10GbE NAS (TS-i410X), targeting factories and warehouses with its robust design and wide-range temperature support. This expands the market for industrial-grade storage solutions.
- June 2022: Nasuni Corporation acquired Storage Made Easy (SME), strengthening its position in cloud file storage and data management services. This signifies a consolidation trend in the cloud storage space.
Future Outlook for North America Next Generation Storage Market Market
The North American next-generation storage market is poised for continued growth, driven by ongoing technological advancements, increasing data volumes, and expanding cloud adoption. The focus on data security, hybrid and multi-cloud environments, and AI-powered data management will shape future market dynamics. Companies that can effectively address these trends and offer innovative solutions are expected to capture significant market share. The market is predicted to experience robust growth with strategic opportunities for companies focusing on innovative storage solutions and comprehensive data management services.
North America Next Generation Storage Market Segmentation
-
1. Storage System
- 1.1. Direct Attached Storage (DAS)
- 1.2. Network Attached Storage (NAS)
- 1.3. Storage Area Network (SAN)
-
2. Storage Architecture
- 2.1. File and Object-based Storage (FOBS)
- 2.2. Block Storage
-
3. End-User Industry
- 3.1. BFSI
- 3.2. Retail
- 3.3. IT and Telecom
- 3.4. Healthcare
- 3.5. Media and Entertainment
North America Next Generation Storage Market Segmentation By Geography
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1. North America
- 1.1. United States
- 1.2. Canada
- 1.3. Mexico
North America Next Generation Storage Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 6.29% from 2019-2033 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1 Increasing Volume of Digital Data; Rising Adoption of Solid-state Devices; Increasing Proliferation of Smartphones
- 3.2.2 Laptops
- 3.2.3 and Tablets
- 3.3. Market Restrains
- 3.3.1. Lack of Data Security in Cloud- and Server-based Services
- 3.4. Market Trends
- 3.4.1 Increasing Proliferation of Smartphones
- 3.4.2 connected devices and electronic devices will drive the market.
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. North America Next Generation Storage Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Storage System
- 5.1.1. Direct Attached Storage (DAS)
- 5.1.2. Network Attached Storage (NAS)
- 5.1.3. Storage Area Network (SAN)
- 5.2. Market Analysis, Insights and Forecast - by Storage Architecture
- 5.2.1. File and Object-based Storage (FOBS)
- 5.2.2. Block Storage
- 5.3. Market Analysis, Insights and Forecast - by End-User Industry
- 5.3.1. BFSI
- 5.3.2. Retail
- 5.3.3. IT and Telecom
- 5.3.4. Healthcare
- 5.3.5. Media and Entertainment
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. North America
- 5.1. Market Analysis, Insights and Forecast - by Storage System
- 6. United States North America Next Generation Storage Market Analysis, Insights and Forecast, 2019-2031
- 7. Canada North America Next Generation Storage Market Analysis, Insights and Forecast, 2019-2031
- 8. Mexico North America Next Generation Storage Market Analysis, Insights and Forecast, 2019-2031
- 9. Rest of North America North America Next Generation Storage Market Analysis, Insights and Forecast, 2019-2031
- 10. Competitive Analysis
- 10.1. Market Share Analysis 2024
- 10.2. Company Profiles
- 10.2.1 IBM Corporation
- 10.2.1.1. Overview
- 10.2.1.2. Products
- 10.2.1.3. SWOT Analysis
- 10.2.1.4. Recent Developments
- 10.2.1.5. Financials (Based on Availability)
- 10.2.2 Fujitsu Ltd
- 10.2.2.1. Overview
- 10.2.2.2. Products
- 10.2.2.3. SWOT Analysis
- 10.2.2.4. Recent Developments
- 10.2.2.5. Financials (Based on Availability)
- 10.2.3 Toshiba Corp
- 10.2.3.1. Overview
- 10.2.3.2. Products
- 10.2.3.3. SWOT Analysis
- 10.2.3.4. Recent Developments
- 10.2.3.5. Financials (Based on Availability)
- 10.2.4 Hewlett Packard Enterprise Company
- 10.2.4.1. Overview
- 10.2.4.2. Products
- 10.2.4.3. SWOT Analysis
- 10.2.4.4. Recent Developments
- 10.2.4.5. Financials (Based on Availability)
- 10.2.5 Scality Inc
- 10.2.5.1. Overview
- 10.2.5.2. Products
- 10.2.5.3. SWOT Analysis
- 10.2.5.4. Recent Developments
- 10.2.5.5. Financials (Based on Availability)
- 10.2.6 Hitachi Ltd
- 10.2.6.1. Overview
- 10.2.6.2. Products
- 10.2.6.3. SWOT Analysis
- 10.2.6.4. Recent Developments
- 10.2.6.5. Financials (Based on Availability)
- 10.2.7 Netgear Inc
- 10.2.7.1. Overview
- 10.2.7.2. Products
- 10.2.7.3. SWOT Analysis
- 10.2.7.4. Recent Developments
- 10.2.7.5. Financials (Based on Availability)
- 10.2.8 Dell Inc
- 10.2.8.1. Overview
- 10.2.8.2. Products
- 10.2.8.3. SWOT Analysis
- 10.2.8.4. Recent Developments
- 10.2.8.5. Financials (Based on Availability)
- 10.2.9 DataDirect Networks
- 10.2.9.1. Overview
- 10.2.9.2. Products
- 10.2.9.3. SWOT Analysis
- 10.2.9.4. Recent Developments
- 10.2.9.5. Financials (Based on Availability)
- 10.2.10 NetApp Inc
- 10.2.10.1. Overview
- 10.2.10.2. Products
- 10.2.10.3. SWOT Analysis
- 10.2.10.4. Recent Developments
- 10.2.10.5. Financials (Based on Availability)
- 10.2.11 Pure Storage Inc
- 10.2.11.1. Overview
- 10.2.11.2. Products
- 10.2.11.3. SWOT Analysis
- 10.2.11.4. Recent Developments
- 10.2.11.5. Financials (Based on Availability)
- 10.2.1 IBM Corporation
List of Figures
- Figure 1: North America Next Generation Storage Market Revenue Breakdown (Million, %) by Product 2024 & 2032
- Figure 2: North America Next Generation Storage Market Share (%) by Company 2024
List of Tables
- Table 1: North America Next Generation Storage Market Revenue Million Forecast, by Region 2019 & 2032
- Table 2: North America Next Generation Storage Market Revenue Million Forecast, by Storage System 2019 & 2032
- Table 3: North America Next Generation Storage Market Revenue Million Forecast, by Storage Architecture 2019 & 2032
- Table 4: North America Next Generation Storage Market Revenue Million Forecast, by End-User Industry 2019 & 2032
- Table 5: North America Next Generation Storage Market Revenue Million Forecast, by Region 2019 & 2032
- Table 6: North America Next Generation Storage Market Revenue Million Forecast, by Country 2019 & 2032
- Table 7: United States North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 8: Canada North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 9: Mexico North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 10: Rest of North America North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 11: North America Next Generation Storage Market Revenue Million Forecast, by Storage System 2019 & 2032
- Table 12: North America Next Generation Storage Market Revenue Million Forecast, by Storage Architecture 2019 & 2032
- Table 13: North America Next Generation Storage Market Revenue Million Forecast, by End-User Industry 2019 & 2032
- Table 14: North America Next Generation Storage Market Revenue Million Forecast, by Country 2019 & 2032
- Table 15: United States North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 16: Canada North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
- Table 17: Mexico North America Next Generation Storage Market Revenue (Million) Forecast, by Application 2019 & 2032
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the North America Next Generation Storage Market?
The projected CAGR is approximately 6.29%.
2. Which companies are prominent players in the North America Next Generation Storage Market?
Key companies in the market include IBM Corporation, Fujitsu Ltd, Toshiba Corp, Hewlett Packard Enterprise Company, Scality Inc, Hitachi Ltd, Netgear Inc , Dell Inc, DataDirect Networks, NetApp Inc, Pure Storage Inc.
3. What are the main segments of the North America Next Generation Storage Market?
The market segments include Storage System, Storage Architecture, End-User Industry.
4. Can you provide details about the market size?
The market size is estimated to be USD 25.59 Million as of 2022.
5. What are some drivers contributing to market growth?
Increasing Volume of Digital Data; Rising Adoption of Solid-state Devices; Increasing Proliferation of Smartphones. Laptops. and Tablets.
6. What are the notable trends driving market growth?
Increasing Proliferation of Smartphones. connected devices and electronic devices will drive the market..
7. Are there any restraints impacting market growth?
Lack of Data Security in Cloud- and Server-based Services.
8. Can you provide examples of recent developments in the market?
July 2022: QNAP Systems, Inc., a computing, networking, and storage solutions provider, announced the launch of an industrial 10GbE NAS - TS-i410X. It is built with a fanless design, a rock-solid chassis, multiple flexible installation options, and a wide-range temperature and DC power support. The solution is suited for factories and warehouses, semi-outdoor environments, and transportation.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3800, USD 4500, and USD 5800 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in Million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "North America Next Generation Storage Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the North America Next Generation Storage Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the North America Next Generation Storage Market?
To stay informed about further developments, trends, and reports in the North America Next Generation Storage Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
