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Historical Growth of the Enterprise Storage Market: Insights into Expanding Industry Size
Over the past few years, the enterprise storage market has seen substantial expansion. Its size is forecasted to increase from $146.36 billion in 2024 to $157.33 billion in 2025, evidencing a compound annual growth rate (CAGR) of 7.5%.
The upsurge during the historical period is due to the greater emphasis on hybrid clouds, pressure to handle and store copious amounts of data, rapid development in the internet of things (IoT) sector, the advent of big data analytics, and the requirement for data security.
In the upcoming years, the enterprise storage market is anticipated to witness robust growth, escalating to $209.24 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. This predicted growth during the forecast period is due to the surging demand for storage solutions among enterprises, the escalating acceptance of cloud-based storage solutions, increasing dependence on cloud computing, rising requirements for data storage, and the intensifying demand from enterprises.
Some notable trends expected during the forecast period are the progression of technology, the rise of artificial intelligence and machine learning, expansion of flash storage, the embracement of software-defined storage, and the adoption of hybrid cloud storage.
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Which Primary Drivers Are Boosting the Enterprise Storage Market’s Performance?
The expansion of the enterprise storage market is anticipated to be driven by the growing acceptance of cloud computing. Cloud computing, which is the provision of computing services, including servers, storage, databases, networking, software, and analytics, over the internet as required, is increasingly preferred.
This is because it delivers a solid infrastructure with inherent redundancy and failover functions for better availability and dependability. Cloud computing offers adaptable storage, reducing the need for major hardware investments by modifying to a company’s needs.
Moreover, it ensures data accessibility and integrity as companies can duplicate data across multiple geographical locations and utilize inbuilt disaster recovery systems to lessen the risk of data loss and downtime. For example, AAG IT Services, a UK organization providing IT and digital transformation services, reported that Google Cloud earned $6.87 billion in revenue in the third quarter of 2022, up from $4.99 billion a year earlier.
By the fourth quarter of 2022, Google Cloud’s earnings had risen to $7.32 billion, marking a 32% annual growth. Hence, the growing use of cloud computing is fueling the expansion of the enterprise storage market.
Which Key Segments Are Driving Growth in the Enterprise Storage Market?
The enterprise storagemarket covered in this report is segmented –
1) By Type: Storage Area Networks Systems (SANs), Network-Attached Storage Systems, Direct-Attached Storage (DAS) Systems, Object Storage Systems, Tape Storage Systems
2) By Deployment: On-Premise, Hybrid, Cloud-Based
3) By Application: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End-User Industry: Information Technology (IT) And Telecommunications (Telecom), Banking, Financial Services, And Insurance (BFSI), Healthcare, Manufacturing, Government, Other End-User Industries
Subsegments:
1) By Storage Area Networks (SANs): Fibre Channel SAN, iSCSI SAN, FCoE (Fibre Channel over Ethernet) SAN
2) By Network-Attached Storage (NAS) Systems: File-level NAS, Unified NAS, Cloud-integrated NAS
3) By Direct-Attached Storage (DAS) Systems: External DAS, Internal DAS, DAS For SMBs
4) By Object Storage Systems: Cloud Object Storage, On-Premise Object Storage, Hybrid Object Storage
5) By Tape Storage Systems: Linear Tape-Open (LTO), Digital Linear Tape (DLT), Optical Tape Storage
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What are the Key Trends Forecasted to Reshape the Enterprise Storage Industry Structure?
Key players in the enterprise storage market are concentrating on the development of automation and orchestration solutions such as software-defined storage platforms. These platforms aim to eliminate reliance on hardware and provide essential features for secure enterprise storage.
Software-defined storage platforms represent a future-oriented storage model developed for intricate workflows. They offer advantages such as multi-tenancy, simplified management, security, and efficiency.
As an example, DataDirect Networks, a firm based in the US that offers data storage and management solutions, introduced DDN Infinia for Enterprise AI and Cloud in November 2023. DDN Infinia presents a quicker and more affordable alternative to cloud storage.
It allows the formation of a secure storage cluster in just minutes, performs upgrades, and expands capacity without any service interruption. It provides scalable data governance and control through metadata management and scalable storage, while also minimizing data and metadata complexity and duplication.
Furthermore, it is compatible with S3 object storage, Docker containers, and Openstack virtual machines, thereby facilitating effective management of all distributed data with minimum effort and expense.
Which Geographies Are Leading the Expansion of the Enterprise Storage Market?
North America was the largest region in the enterprise storage market in 2024. The regions covered in the enterprise storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Who Are the Top Companies Dominating the Enterprise Storage Market in 2025?
Major companies operating in the enterprise storage market are Samsung Electronics Co. Ltd., Dell Inc., Huawei Technologies Co.
Ltd., Lenovo Group Ltd., Intel Corporation, HP Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Fujitsu Limited, Micron Technology Inc., Toshiba Corporation, NEC Corporation, NetApp Inc., Hitachi Vantara LLC, Pure Storage Inc., Nutanix Inc., Imation Corporation, DataDirect Networks, Tintri Inc., Overland Tandberg, Nimbus Data, Nfina Technologies Inc., DATROX Computer Technologies Inc.
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