Next-Generation Data Storage Market - Impact of COVID-19 (2021-2027)


Posted September 30, 2021 by Amruta57

The global Next Generation Data Storage market was valued at US$ 55,785.9 Mn in 2019 and is forecast to reach a value of US$ 120,454.4 Mn by 2027 at a CAGR of 10.1% between 2020 and 2027.

 
Cloud storage works like a hard disk on your system, and if you want to store any file in the cloud, it will not temper any ongoing task. There may be more than one user using a cloud storage service, and the current responsibility of one user would not affect the task of another since it is all is managed and automated by the cloud vendor. cloud services have gained so much popularity in the software industry and now every big tech company has its cloud service. No matter whether it’s a small or big business, everyone requires cloud service to store data because data is the next power weapon. Big tech is investing a lot in the cloud industry because it holds the potential to change the complete structure of storage and communication.

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Key companies are focused on research and development activities, in order to enhance the market presence. For instance, in September 2019, Dell Technologies introduced Dell EMC PowerMax, its first storage system powered by dual-port Intel Optane SSDs. Moreover, in June 2019, Dell EMC introduced mid-range storage refresh “Midrange.next”.
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Tags data storage , data storage market , nextgeneration data storage , nextgeneration data storage industry , nextgeneration data storage market
Last Updated September 30, 2021