Smart Storage Market Dynamics and Developments by 2031

At the present time huge data collected across different verticals in different forms, the major concern of any industry today is secured storage of these important data on which the business is dependent. The increasing data file sizes, huge chunks of big and unstructured data, the information and technology companies are fronting major issues while dealing with a huge data set. The smart storage arrangements provide quick, reliable, secure, scalable and cost-efficient solutions, which are being adopted at much higher rate in various business verticals to meet desired requirements or solution for efficiently storing and retrieving the data.

Smart Technologies such as automated systems, Internet of Things (IoT), cloud computing, e-commerce etc., are the key driving factors for increasing demand for data storage. The increasing data driven market places will give rise to new approaches in data operations leading to increasing penetration of the smart storages in almost every industry. Hewlett Packard (hp) an IT company has introduced an affordable flash drive, which functions at higher speed. This innovation is diversified and enabling almost every vertical to easily operate the huge among of data.

The traditional data storage techniques will fail handle the large chunks of data that are being produced on every day basis. The trending technology Big Data has led to increased input and output devices which are influencing the smart storage market positively. Today end-user verticals such as healthcare, automotive, consumer electronics, media, industrial and many others are inclined toward the data storage and retrieval operation to a greater extant, this trend facilitate the need for advanced storage systems which can be more reliable, secure and easy to deploy, leading to increasing demands for smart storage techniques.

The smart storage market is broadly classified into various segments which includes technology, applications, end-user industries, and Geography. The technology segment is further drilled down into flash storage arrays, holographic data storage, cloud based disaster recovery, hybrid array, heat assisted magnetic recording, and others. The major applications of smart storage expected to be associated with Enterprises, Big Data storage, and cloud based storage services. The growing penetration of data driven applications in end-users such as Industrial, medical, consumer electronics, automotive, and others has given rise to implement sophisticated data infrastructures and high-end data processing systems. This has led to an increasing investment in expanding of data centers.

The global Smart storage market is also bifurcated on the basis of regions into North America, Europe, Asia Pacific, South America and Middle East & Africa. North America is estimated to be one of the leading regions in smart storage market followed by Europe and APAC. By 2031, APAC region is estimated to contribute major to the smart storage market due to evolving data hubs and new business setups. Growing industrial automation is also one of the driving factors for the increasing adoption of smart storage devices across industrial applications.

Some of the key players in smart storage market include IBM Corporation, HP Enterprises, NetApp, Inc., Dell Inc., and Toshiba Corporation, Hitachi data systems, SimpliVity Corporation, Sandisk Corporation, Quantum Corporation, Micron Technology among others.

Smart Storage Report Scope