Storage Server Global Market Report 2024

The storage server market size has grown exponentially in recent years. It will grow from $260.27 billion in 2023 to $313.9 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%. The growth observed in the historic period can be attributed to several factors, including the increasing demand for data storage, the widespread adoption of flash storage technology, the rising prevalence of digital transformation initiatives, the expansion of cloud computing services, the growing requirement for high-performance storage systems, and the rising demand for servers in various applications.

The storage server market size is expected to see exponential growth in the next few years. It will grow to $667.42 billion in 2028 at a compound annual growth rate (CAGR) of 20.8%. The forecasted growth can be attributed to several factors, including the increasing usage of e-commerce websites, heightened concerns regarding data security and privacy, a rising demand for personal cloud and home storage solutions, an increasing need for storage solutions across various sectors, and the growing utilization of hybrid and multi-cloud environments. Major trends expected in the forecast period encompass advancements in storage technologies, innovations in new storage media, the integration of artificial intelligence and machine learning, decentralized data storage solutions, digital transformation initiatives, data analytics and real-time processing capabilities, preparations for quantum computing, and the adoption of hyper-converged infrastructure (HCI).

The expansion in cloud service adoption is poised to drive the growth of the storage server market in the future. Cloud services encompass a broad array of internet-delivered services that allow users to access computing resources and software on demand, eliminating the need for owning or managing physical servers or infrastructure. This growth in cloud services is driven by various factors, including disaster recovery and business continuity, scalability and flexibility, security and compliance, hybrid and multi-cloud strategies, digital transformation and remote work, as well as the emphasis on security and compliance. Cloud storage servers provide a cost-effective, scalable, and dependable solution for businesses to securely store, manage, and retrieve their data in the cloud. For example, in December 2023, the European Union reported that the percentage of EU businesses purchasing cloud computing services increased by 4.2 percentage points from 2021 to 2023. Thus, the rising adoption of cloud services is a key driver for the storage server market.

Major players in the storage server market are prioritizing the integration of artificial intelligence (AI) technologies to gain a competitive advantage. Enterprise storage server (ESS) solutions tailored for AI are engineered with advanced functionalities to meet the rigorous demands of AI workloads, encompassing extensive data processing, model training, and inference tasks. For example, in August 2022, International Business Machines Corporation (IBM), a US-based technology giant, unveiled the Enterprise Storage Server (ESS) 3500. This spectrum-scale ESS is specifically optimized for AI workloads, delivering swift storage performance for AI modeling and training through a combination of diverse storage types, a high-speed controller CPU, and up to 91 GB/sec sequential read capability.

In January 2023, Microsoft Corporation acquired Fungible Inc. to enhance networking and storage performance in data centers using high-efficiency, low-power DPUs (Data Processing Units). This strategic acquisition enables Microsoft to establish high-performance, scalable, and secure disaggregated data center infrastructure. Fungible Inc. is a US-based company specializing in hardware, software development, and storage server solutions.

Major companies operating in the storage server market are Alphabet Inc., Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Hitachi Ltd., Amazon Web Services, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Wistron Corporation, Fujitsu Limited, NVIDIA Corporation, Hewlett Packard Enterprise Development LP, Toshiba Corporation, NEC Corporation, HCL Technologies Limited, Wiwynn Corporation, Super Micro Computer Inc, NetApp Inc., GIGA-BYTE Technology Co. Ltd., Citrix Systems Inc., Pure Storage Inc., Trend Micro Inc., Nutanix Inc.

North America was the largest region in the storage server market in 2023. The regions covered in the storage server market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the storage server market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A storage server is a specialized type of server designed specifically for storing, managing, and providing access to large volumes of data. These servers are optimized for data storage and retrieval rather than computational tasks or running applications. They play a crucial role as key components in networked storage systems, supporting various data storage technologies and architectures.

The primary segments within the storage server market are hyper-scale server storage area networks (SAN) and enterprise server storage area networks (SAN). Hyper-scale server SANs are architectures tailored to accommodate very large-scale computing environments. These applications span across different sectors, including small and medium businesses, large corporations, as well as end-users such as those in banking, financial services, insurance (BFSI), energy, government and defense, healthcare, information technology (IT) and telecommunications, among others.

The storage server market research report is one of a series of new reports that provides storage server market statistics, including storage server industry global market size, regional shares, competitors with storage server market share, detailed storage server market segments, market trends, and opportunities, and any further data you may need to thrive in the storage server industry. This storage server market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The storage server market consists of revenues earned by entities by providing services such as data storage and management, cloud storage, backup and recovery services, data security and encryption, data replication and duplication, data migration services, performance optimization, compliance and data governance, big data and analytics support, and managed storage services. The market value includes the value of related goods sold by the service provider or included within the service offering. The storage server market also includes sales of network-attached storage (NAS), direct attached storage (DAS), solid-state drives (SSDs), hard disk drives (HDDs), hybrid drives, tape drives and libraries, flash storage arrays, object storage systems, unified storage systems, and backup appliances. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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