Technavio Announces the Publication of its Research Report Global Enterprise Storage Market 2016-2020
Technavio recognizes the following companies as the key players in the global enterprise storage market: Dell, EMC, Hitachi Data Systems, HP, IBM, and NetApp.
Other Prominent Vendors in the market are: American Megatrends, DataDirect Networks, Dot Hill, Fujitsu, imation, Lenovo, NEC, Netgear, nfina, Nimble Storage, Nimbus Data, Oracle, Overland Storage, Pure Storage, Samsung, SanDisk, Seagate, SolidFire, Tegile, Toshiba, Violin-memory, Western Digital, and XIO Technologies.
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Commenting on the report, an analyst from Technavios team said: The latest trend gaining momentum in the market is demand for SDS. SDS is a data storage software that helps in data management, data protection, data placement, and I/O capabilities, independent of the underlying storage infrastructure. It helps to increase flexibility, scalability, and automation capabilities of an enterprise storage infrastructure. SDS reduces the overall storage costs for enterprises by allocating storage resources efficiently. The demand for efficient enterprise storage has increased worldwide, which, in turn, has resulted in an increased demand for SDS.
According to the report, one of the major drivers for this market is increase in demand for cloud-based storage. Storing data in the cloud is proving to be an effective solution for enterprises worldwide. Commercial data require more storage, and varies between SMEs and large enterprises. With the growth in amount of data generated through the IoT, storing of data on-premise has become a costly affair for enterprises, thus encouraging them to move their data to the cloud storage (STaaS) by selecting service providers such as Amazon Web Service, Microsoft Azure, and Google Cloud Platform. The demand has also increased because of reduced cost, better scalability, and high availability of storage in the cloud.
Further, the report states that one of the major factors hindering the growth of this market is data security issues. The complexity of data being generated is increasing with a corresponding increase in unstructured data, thus posing a significant challenge for data security. Enterprises worldwide are struggling to implement robust data security measures. Vendors are innovating in encryption and decryption based algorithms for securing data at the storage level. Cloud storage is proving to be a better storage option than traditional on-premise storage for securing data, which, however, differs based on deployment model that could be private, public, or hybrid cloud.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Enterprise Storage
An enterprise storage system is a repository for business information or data for a period of time depending on end-user requirements. Enterprise users can access these data and share them through interconnected networks or online. Enterprise storage comprises SSD and hard disk drives (HDD) devices that are commonly used in SAN, NAS, and DAS environments. The data stored can serve as a backup in case of a system failure or a disaster. Compared to traditional storage, enterprise storage is a highly reliable, fault tolerant, and scalable storage option, which makes it suitable for enterprises dealing with huge amounts of data.
Technavios analysts forecast the global enterprise storage market to grow at a CAGR of 15.87% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global enterprise storage market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of storage systems such as SAN, NAS, and direct attached storage (DAS) are considered. And sale of enterprise storage systems across regions such as the Americas, Europe, Middle East, and Africa (EMEA), and APAC.
The market is divided into the following segments based on geography:
Technavio’s report, Global Enterprise Storage Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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