Growing need to manage and store data has led to an upsurge in demand for next generation data storage technologies. In addition, increasing demand for automated and smart technologies is further expected to impact growth of the global next generation data storage technologies market. A recently published report by Transparency Research Market reveals that the global next generation data storage technologies market is expected to register a healthy growth over the forecast period.
Factors Fuelling Growth of the Global Market
Growth of the global next generation data storage technologies market is mainly bound by various micro-economic and macro-economic factors. Surge in demand for technically enhanced data storage solutions has revved up sales of the next generation data storage technologies. Manufacturers prefer integrating cloud based storage systems in various technological devices including wearable electronics, smartphones, laptops and other electronic gadgets. Increasing demand for electronic gadgets integrated with smart technologies is expected to contribute towards growth of the global market of next generation data storage technologies positively.
On the other hand, various factors will continue to impact growth of the global market of the next generation data storage technologies. Complexities regarding the issues related to restoring and repair of the data storage systems and solutions will continue to hinder sales of the next generation data storage technology solutions. Moreover, limited technical skills among the professionals is further likely to inhibit growth of the global market during the forecast period.
Holographic Data Storage to Witness Significant Sales
The global market of next generation data storage technologies is expected to be segmented on the basis of application and technology. On the basis of technology, the global market is segmented as hybrid array, all-flash storage arrays, holographic data storage, heat assisted magnetic recording and cloud based disaster recovery. The hybrid array technology represents a hierarchical storage management that comprises hard disk drives and solid state drives for the output and input speed improvement. The hybrid array technology and flash array technology represent standard data storage technique, whereas the holographic data storage technology represents the high capacity data storage system. By application, the global next generation data storage technologies market is mainly segmented on the basis of cloud based storage, enterprise data storage and big data storage.
Market Players: Leading market players operating in the global next generation data storage technologies market include Avago Technologies, Dell Inc., Hewlett-Packard Development Company, L.P., EMC Corporation, Hitachi Data Systems, HGST, Inc., NetApp, IBM Corporation, Drobo, Inc., Micron Technology Corporation and Avago Technologies.
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