Enterprise Storage Market Size, Trends, Drivers and Challenges, Vendor Landscape, Opportunities and Forecast to 2027
Enterprise Storage Market Research Report Overview
The global enterprise storage market size was pegged at $123 billion in 2022. The market is expected to grow at a CAGR of more than 6% during the forecast period (2022-2027). Growing volumes of both structured and unstructured data generated by enterprises due to the increasing use of digital solutions like online & ecommerce platforms, enterprise mobility, connected devices, mobile apps, automation, and cloud, and the subsequent need to store such data for further analysis and use has been driving the enterprise storage demand.
Global Enterprise Storage Market 2022-2027 ($Bllion)
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The global enterprise storage market research report provides an executive-level overview of the current storage market worldwide, with detailed forecasts of key indicators up to 2027. Published annually, the global enterprise storage market report provides a detailed analysis of the near-term opportunities, competitive dynamics, and evolution of demand by product/service type and verticals across the large enterprise and micro, small & medium enterprise (MSME) markets, as well as a review of key storage market trends as well as the technological developments that are shaping the storage landscape.
| Market Size 2022 | $123 billion |
| CAGR | >6% |
| Forecast Period | 2022-2027 |
| Product/Service Types | Hardware, Services, Software |
| Key Industry Verticals | BFSI, Manufacturing, Information Technology, Retail, and Government |
| Enterprise Size Band | MSME and Large Enterprises |
| Key Regions | Asia Pacific, North America, Western Europe, Middle East and Africa, South and Central America, and Central and Eastern Europe |
| Leading Companies | Dell, Seagate, Western Digital, Micron and HPE |
Global Enterprise Storage Market Segmentation by IT Infrastructure Types
The global enterprise storage market is divided across three types namely:
- Software
- Hardware
- Services
Global Enterprise Storage Market Share by IT Infrastructure Types
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Storage Hardware Represents the Largest Contributor to the Total Storage Market Value
Hardware is the largest revenue-generating segment for the overall storage market with its share of total revenue estimated at 67.2% ($82.6 billion) for 2022. The emergence of an information-driven economy is making data extremely valuable. Given its disruptive potential in transforming businesses, digital information has emerged as one of the most valuable assets for any enterprise. As a critical asset for running the business, data therefore needs to be stored for retrieval and analysis to create usable insights. This has been creating demand for robust data storage solutions and services among enterprises globally.
Global Enterprise Storage Market Segmentation by Vertical
The BFSI sector is the largest end-use market for storage. The report analyses the global enterprise storage market across several industry verticals including:
- BFSI
- Manufacturing
- Information Technology
- Retail
- Government
Global Enterprise Storage Market Share by Vertical
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Global Enterprise Storage Market Segmentation by Regions
The storage market forecast report also analyses the global enterprise storage market across six regions:
- Asia Pacific
- North America
- Western Europe
- Middle East & Africa
- South & Central America
- Central & Eastern Europe
Global Enterprise Storage Market Share by Region
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According to the GlobalData’s analysis, Asia Pacific is the leading regional market with revenue estimated at $45.5 billion for 2022 and will grow at a CAGR greater than 8% over the forecast period. China contributes the majority share of the storage revenue estimated for Asia Pacific in 2022 owing to its large economy and enterprise footprint.
Enterprise Storage Market – Drivers, Trends and Challenges
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Vendor Landscape
The global enterprise storage vendor landscape is dominated by prominent international players such as Dell, Seagate, Western Digital, Micron and HPE.
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Scope
The market intelligence report provides an in-depth analysis of the following –
- Enterprise storage market outlook by product/service type: analysis as well as historical figures and forecasts of revenue opportunities from the storage product/service type.
- Enterprise storage market outlook by enterprise size band: analysis as well as historical figures and forecasts of revenue opportunities from the enterprise size band perspective.
- Enterprise storage market outlook by regions: analysis as well as historical figures and forecasts of revenue opportunities from regional perspective.
- Enterprise storage market outlook by revenue opportunity: analysis as well as historical figures and forecasts of revenue opportunities from regional perspective.
- The vendor landscape: an examination of the positioning of leading players in the enterprise storage market. Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.
Reasons to Buy
- This market intelligence report offers a thorough, forward-looking analysis of global enterprise storage, enterprise storage solution providers, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
- Accompanying GlobalData’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in global enterprise storage market.
- The report also highlights key vertical industries (BFSI, manufacturing, information technology, retail, and government, etc.), enterprise size bands (Micro, small, medium, large, and very large) and key regions (North America, Asia Pacific, Western Europe, Middle East & Africa, Central & Eastern Europe, and South & Central America)
- With charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
- The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in global enterprise storage market.
- The broad perspective of the report coupled with comprehensive, actionable detail will help enterprise storage hardware & software vendors, service providers, and other enterprise storage players succeed in the growing enterprise storage market worldwide.
Key Players
Table of Contents
Frequently Asked Questions
The global enterprise storage market size was valued at $123 billion in 2022.
The global enterprise storage market is expected to grow at a CAGR of more than 6% during the forecast period.
Increasing use of smart connected devices like smartphones and tablets and generation of huge volumes of data in the form of images and videos are stimulating the growth of the storage industry globally.
Product/Service Type: Hardware, Services, Software
Vertical segments: BFSI, Manufacturing, Information Technology, Retail, and Government
Enterprise size band: MSME and Large Enterprises
The key regions analyzed in the global storage market are North America, Asia Pacific, Western Europe, Middle East & Africa, South & Central America, and Central & Eastern Europe
The leading storage companies in the global storage market are Dell, Seagate, Western Digital, Micron and HPE, among others.
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