At 10.0% CAGR, Asia Pacific Next Generation Data Storage Market is Projected to be Worth US$ 26,368.34 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific next generation data storage market was valued at US$ 12,267.89 million in 2022 and is expected to reach US$ 26,368.34 million by 2030, registering a CAGR of 10.0% from 2022 to 2030. Rapid digitization across industries and increasing use of SSD are among the critical factors attributed to drive the Asia Pacific next generation data storage market growth.

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.

On the contrary, data security concerns hamper the growth of Asia Pacific next generation data storage market.

Based on storage system, the Asia Pacific 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 52.4% market share in 2022, amassing US$ 6,427.45 million. It is projected to garner US$ 12,868.67 million by 2030 to register 9.1% CAGR during 2022-2030.

In terms of end user, the Asia Pacific next generation data storage market is segmented into BFSI, retail, IT and telecom, healthcare, media and entertainment, and others. The BFSI segment held 36.0% share of Asia Pacific next generation data storage market in 2022, amassing US$ 4,417.35 million. It is anticipated to garner US$ 9,895.58 million by 2030 to expand at 10.6% CAGR during 2022-2030.

By storage medium, the Asia Pacific next generation data storage market is divided into hard disk drive, solid-state drive, and tape. The solid-state drive segment held 62.4% share of Asia Pacific next generation data storage market in 2022, amassing US$ 7,652.68 million. It is projected to garner US$ 17,602.56 million by 2030 to expand at 11.0% CAGR from 2022 to 2030.

Based on storage architecture, the Asia Pacific next generation data storage market is bifurcated into file-object based storage and block storage. The file-object based storage segment held 62.4% share of Asia Pacific next generation data storage market in 2022, amassing US$ 7,657.95 million. It is predicted to garner US$ 16,848.01 million by 2030 to expand at 10.4% CAGR between 2022 and 2030.

By deployment, the Asia Pacific next generation data storage market is categorized into on-premise, cloud-based, and hybrid. The on-premise segment held 49.7% share of Asia Pacific next generation data storage market in 2022, amassing US$ 6,099.10 million. It is estimated to garner US$ 12,459.85 million by 2030 to expand at 9.3% CAGR during 2022-2030.

Based on country, the Asia Pacific next generation data storage market is categorized into China, Japan, South Korea, India, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 32.3% share of Asia Pacific next generation data storage market in 2022. It was assessed at US$ 3,963.03 million in 2022 and is likely to hit US$ 10,065.70 million by 2030, registering a CAGR of 12.4% during 2022-2030.

Key players operating in the Asia Pacific next generation data storage market are Dell Technologies Inc, Hewlett Packard Enterprise Co, NetApp Inc, Hitachi Ltd, International Business Machines Corp, DataDirect Networks Inc, Fujitsu Ltd, NETGEAR, and Huawei Technologies Co Ltd, among others.

• In 2023, IBM introduced the new IBM Storage Scale System 6000, a cloud-scale global data platform designed to meet today's data-intensive and A.I. workload demands, and the latest offering in the IBM Storage for Data and A.I. portfolio. The new IBM Storage Scale System 6000 was built on IBM's leadership position with an enhanced high-performance parallel file system designed for data-intensive use cases. It provides up to 7M IOPs and up to 256GB/s throughput for read-only workloads per system in a 4U (four rack units) footprint.
  
  
• In 2023, NETGEAR, Inc. the leading provider of award-winning connected products designed to simplify and improve people's lives, launched the first WiFi 7 router with its new addition to the award-winning Nighthawk line. The router includes link aggregation for concurrent multi-gig internet and LAN access, which offers a graceful transition for a home network to upgrade to a multi-gig network. A USB hard drive can be connected for network attached Storage to facilitate large file backup or sharing as well as high-quality media streaming.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com