Europe Next Generation Storage Market - By Technology (All Flash Arrays, Hybrid Arrays, Cloud Based Disaster Recovery), Applications (Cloud Storage Services, Enterprise Data Storage, Big Data Storage), Industry, Geography, Trends, Forecast - (2017 - 2022)
The Europe next Generation Storage market is valued at USD 0.852 billion in 2016 and is expected to reach a value of USD 5.79 billion by the end of 2022, growing at a projected CAGR of 37.61% during the forecast period of 2017 – 2022.
Rapid technological advancements and increasing volume of unstructured data across different verticals/industries has generated the increasing need for a secure, reliable, and cost-efficient storage infrastructures across the European region. In the current scenario, enterprises are facing the challenges, posed by the escalating data volumes, velocity and variety leading to increasing demand for storage solutions. Advanced technologies are being utilized ranging from cloud applications to enterprise storage - to address the complex business challenges and transform the flood of data and information into tangible and valuable business insights further leveraging the demand for next generation storage market.
Next generation storage solutions are the computing devices that are used to store, port and extract data files and objects in a quicker and in a more efficient manner. Despite of financial turmoil in some of the countries, the market for storage has been booming, owing to the increasing demand, floating in from the buyers/clients for better performing storage infrastructures. Such advancements in technologies has led to better storage and recovery of information in a quicker and efficient manner. The European next generation storage market is expected to gain momentum owing to increasing demand for high scalable, fast and economical storage solutions during the forecast period.
Rapid expansion of storage market and increasing demand for efficient and cost-effective solutions in the Central and Eastern Europe has boosted the growth of the market. Whereas, high growth of data volume is pushing Western European organisations to optimize their storage infrastructures by adding newer storage technologies such as all-flash arrays and hybrid array solutions. Some of the factors such as growing demand for data storage in Small to Medium Enterprises (SMEs) and increasing proliferation of smartphones, laptops and tablets has augmented the need for Next Generation Storage technologies in the region.
Flash storage systems market is a fast-growing segment of the European storage systems market and it is projected that the market value of All-flash arrays storage will grow at 14.20% CAGR over the forecasted period. The application of Next Generation Storage market encompasses multiple sectors, such as BFSI, manufacturing, Government, communication and others. The BFSI sector, dominated the European Next Generation Storage Market in 2014. Some of the major players mentioned in the report are IBM, Dell Inc., EMC Corporation, NetApp, Inc., HP and SanDisk Corporation.
Published By: Mordor Intelligence
Published Date: Q1 2017