Expert Market Research’s new report titled ‘Global Hardware Storage Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026’, gives an in-depth analysis of the global market hardware storage. Market, assessing the market based on its segments such as storage architecture, storage system, storage medium, end-use, and major regions like North America, Europe, Asia – Pacific, Latin America, Middle East and Africa. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 13%
The hardware storage market has witnessed substantial growth due to factors such as the growing need to store large volumes of digital data. Also, increased knowledge across different industries provides huge market opportunity for key players in the hardware storage market. Businesses have been increasingly reliant on algorithms in recent years. Examples of how companies use algorithms to provide good service include Google telling its users about the latest happenings in the world based on their previous searches, YouTube recommending related videos based on the types of content they have seen previously and e-commerce websites showing ads with a list of products that users have viewed previously. These algorithms are based on a large amount of information. Accordingly, the growing demand for data storage for various applications such as data analytics, AI, blockchain, IoT, cloud computing and all internet services is a main driver for the growth of the industry globally. Demand is expected to increase as the digital economy grows. People are also looking for gadgets that can store their data efficiently given the increased use of smartphones and the culture of shooting to capture memories. Along the same lines, external storage, in addition to the internal storage of their smartphones, laptops, or other similar devices, is extremely desirable. During the forecast period, these consumer characteristics are expected to increase the demand for global hardware storage.
Industry definition and major segments
A device mainly used to save, transfer and delete data whenever needed is called hardware storage. It can help record and maintain data for a short or long period of time. It is often found in laptops, tablets, cell phones and other electronic devices in our daily lives. Additionally, standalone external storage devices are available in the market to be used as backup storage. It is available in a variety of shapes and sizes, depending on demand and usage.
Based on storage architecture, the industry is divided into:
- File and Object Based Storage (FOBS)
- Storage blocking
Based on the storage system, the industry is divided into:
- Network Attached Storage (NAS)
- Direct Attached Storage (DAS)
- Storage Area Network (SAN)
On the basis of storage medium, the industry is divided into:
- solid state drive
- Hard disk (HDD)
On the basis of end use, the industry is divided into:
- Cloud service providers
Regional hardware storage markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, in the global hardware storage industry, North America is one of the most important regions. The United States is a major contributor to the market growth in the region. Google, Facebook, and Amazon, among other popular digital platforms in the United States, hold a very strong position in the market. For example, Google controls 90% of the global Internet search industry; Facebook controls two-thirds of the global social media market and is the most popular social media platform in 90% of global economies; and Amazon controls 40% of global e-commerce activity. To provide personalized services to its consumers, these platforms rely heavily on digital data. Therefore, the storage of machine-readable data (digital data) is a fundamental requirement for them and together they impose a large demand on storage, both hardware and software. Meanwhile, China is dominated by similar but China-based companies such as Alibaba, WeChat (owned by Tencent) and others, all of which rely on data and thus increase demand for storage devices and facilities. .
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Main market players
Major market players include Hewlett Packard Enterprise, Dell, Inc., NetApp, Inc., Hitachi, Ltd., Nutanix, Inc., among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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