The Europe next generation data storage market was valued at US$ 15.87 billion in 2022 and is expected to reach US$ 31.72 billion by 2030; it is estimated to register a CAGR of 9.0% from 2022 to 2030.
Rapidly evolving business needs have surged the demand for storage solutions that can easily scale up or down as data volumes and access demands fluctuate. Next-gen solutions such as cloud storage and object storage offer on-demand scalability and flexibility, eliminating the need for upfront infrastructure investments and catering to dynamic workloads. Further, new technologies such as AI, IoT, and machine learning generate unstructured and complex data types that require specialized storage solutions.
Next gen technologies such as data lakes and data fabrics offer specialized tools and frameworks for managing and analyzing these diverse data types, unlocking potential value. Thus, rapid digitization is acting as a powerful catalyst for the next-generation data storage market by creating demand for scalable, performant, and secure solutions that can handle the ever-growing volume and complexity of data.
The digital transformation initiatives across Europe are driving the demand for next-gen data storage solutions. As businesses embrace technologies such as IoT, big data analytics, and cloud computing, the need for advanced storage solutions becomes crucial. Next-gen data storage technologies provide the scalability, performance, and reliability required to support these digital transformation initiatives.
Rapid Digitization Across Industries Drive Europe Next Generation Data Storage Market
Digitization across industries, from healthcare and finance to retail and manufacturing, is creating an explosion in data generation. This includes everything including sensor data from connected devices and AI-generated insights. Traditional storage solutions struggle with this volume and require constant upgrades or scaling, making next-gen technologies more attractive. Digitized processes and decision-making rely on real-time data access and analysis. Next-gen technologies, including flash storage, NVMe, and software-defined storage, offer significantly faster performance compared to traditional disk drives, enabling smoother operations and faster insights.Rapidly evolving business needs have surged the demand for storage solutions that can easily scale up or down as data volumes and access demands fluctuate. Next-gen solutions such as cloud storage and object storage offer on-demand scalability and flexibility, eliminating the need for upfront infrastructure investments and catering to dynamic workloads. Further, new technologies such as AI, IoT, and machine learning generate unstructured and complex data types that require specialized storage solutions.
Next gen technologies such as data lakes and data fabrics offer specialized tools and frameworks for managing and analyzing these diverse data types, unlocking potential value. Thus, rapid digitization is acting as a powerful catalyst for the next-generation data storage market by creating demand for scalable, performant, and secure solutions that can handle the ever-growing volume and complexity of data.
Europe Next Generation Data Storage Market Overview
The next-generation data storage market in Europe is experiencing significant growth and transformation. It offers reliable, faster, and cost-effective solutions to meet the increasing demands for data storage in various industries. The next-generation data storage market in Europe encompasses various storage systems and architectures. Storage systems include Direct Attached Storage (DAS), Network Attached Storage (NAS), and Storage Area Network (SAN). Storage architectures include File and Object-based Storage (FOBS) and Block Storage. These systems and architectures provide flexible and scalable solutions to meet the diverse storage needs of organizations.The digital transformation initiatives across Europe are driving the demand for next-gen data storage solutions. As businesses embrace technologies such as IoT, big data analytics, and cloud computing, the need for advanced storage solutions becomes crucial. Next-gen data storage technologies provide the scalability, performance, and reliability required to support these digital transformation initiatives.
Europe Next Generation Data Storage Market Segmentation
The Europe next generation data storage market is categorized into storage system, end user, storage medium, storage architecture, deployment, and country.- Based on storage system, the Europe next generation data storage market is segmented into direct attached storage (DAS), network attached storage (NAS), and storage area network (SAN). The direct attached storage (DAS) segment held the largest Europe next generation data storage market share in 2022.
- In terms of end user, the Europe next generation data storage market is segmented into BFSI, retail, IT and telecom, healthcare, media and entertainment, and others. The BFSI segment held the largest Europe next generation data storage market share in 2022.
- By storage medium, the Europe next generation data storage market is divided into hard disk drive, solid-state drive, and tape. The solid-state drive segment held the largest Europe next generation data storage market share in 2022.
- Based on storage architecture, the Europe next generation data storage market is bifurcated into file-object based storage and block storage. The file-object based storage segment held a larger Europe next generation data storage market share in 2022.
- By deployment, the Europe next generation data storage market is categorized into on-premise, cloud-based, and hybrid. The on-premise segment held the largest Europe next generation data storage market share in 2022.
- By country, the Europe next generation data storage market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The UK dominated the Europe next generation data storage market share in 2022.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Next-Generation Data Storage Market Landscape
5. Europe Next-Generation Data Storage Market - Key Market Dynamics
6. Next-Generation Data Storage Market - Europe Market Analysis
7. Europe Next-Generation Data Storage Market Analysis - by Storage System
8. Europe Next-Generation Data Storage Market Analysis - by End-user
9. Europe Next-Generation Data Storage Market Analysis - by Storage Medium
10. Europe Next-Generation Data Storage Market Analysis - by Storage Architecture
11. Europe Next-Generation Data Storage Market Analysis - by Deployment
12. Europe Next-Generation Data Storage Market - Country Analysis
13. Competitive Landscape
14. Industry Landscape
15. Company Profiles
16. Appendix
Companies Mentioned
- Dell Technologies Inc
- Hewlett Packard Enterprise Co
- NetApp Inc
- Hitachi Ltd
- International Business Machines Corp
- DataDirect Networks Inc
- Fujitsu Ltd
- NETGEAR
- Huawei Technologies Co Ltd
