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Global Hardware Storage Market to be driven by increasing need to store large volumes of digital data in the Forecast Period of 2021-2026

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Global Hardware Storage Market to be driven by increasing need to store large volumes of digital data in the Forecast Period of 2021-2026

September 14
13:05 2021
Global Hardware Storage Market to be driven by increasing need to store large volumes of digital data in the Forecast Period of 2021-2026
Global Hardware Storage Market Report and Forecast 2021-2026
Global Hardware Storage Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026 | EMR Inc.

The new report by Expert Market Research 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 Hardware Storage Market, assessing the market based on its segments like 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 trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.


Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.

Request a free sample copy in PDF or view the report [email protected] https://www.expertmarketresearch.com/reports/hardware-storage-market/requestsample

The key highlights of the report include:

Market Overview (2016-2026)

  • Forecast CAGR (2021-2026): 13%

The market for hardware storage has seen substantial growth due to factors such as increasing need to store large volumes of digital data. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the hardware storage market. Companies have been increasingly reliant on algorithms in recent years. Some examples of how companies use algorithms to provide good service include Google informing its users about the latest happenings around 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 popping up ads with a list of products that users have checked out previously. These algorithms are based on a large amount of information. As a result, the growing demand for data storage for diverse applications such as data analytics, AI, blockchain, IoT, cloud computing, and all Internet-based services is a primary driver for industry growth globally. Demand is projected to rise as the digital economy expands. People are also looking for gadgets that can efficiently store their data, given the increased use of smartphones and the culture of shooting images 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. In the forecast period, these consumer characteristics are expected to enhance demand for worldwide hardware storage.

Industry Definition and Major Segments

A device that is primarily used for saving, transferring, and removing data whenever it is needed is referred to as hardware storage. It can assist in the registration and maintenance of data for a short or lengthy period. It is often found in laptops, tablets, cellphones, and other electronic devices in our daily lives. Additionally, standalone external storage devices are available on the market for usage as backup storage. It is available in a variety of shapes and sizes, depending on the demand and use.

 

Explore the full report with the table of [email protected] https://www.expertmarketresearch.com/reports/hardware-storage-market

 

Based on the storage architecture, the industry is divided into:

  • File and Object-based Storage (FOBS)
  • Block Storage

Based on the storage system, the industry is divided into:

  • Network Attached Storage (NAS)
  • Direct Attached Storage (DAS)
  • Storage Area Network (SAN)

Based on the storage medium, the industry is divided into:

  • Solid-state Drive (SSD)
  • Hard Disk Drive (HDD)
  • Tape
  • Others

Based on the end use, the industry is divided into:

  • Enterprise
  • Government
  • Cloud Service Providers
  • Telecom
  • Others

The regional markets for hardware storage include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

Geographically, in the worldwide hardware storage sector, North America is one of the most important regions. The United States is a big contributor to market growth within the region. Google, Facebook, and Amazon, among other popular digital platforms in the United States, have a very strong market position. For example, Google controls 90% of the worldwide internet search industry; Facebook controls two-thirds of the global social media market and is the most popular social media platform in 90% of the world’s economies; and Amazon controls 40% of worldwide e-commerce activity. For providing customised services to its consumers, these platforms rely largely on digital data. As a result, storing machine-readable data (digital data) is a basic requirement for them, and they together place a significant demand on storage, both hardware and software. Meanwhile, China is dominated by similar but Chinese-based enterprises such as Alibaba, WeChat (owned by Tencent), and others, all of which rely on data and so drive-up demand for storage devices and facilities.

Key Market Players

The major players in the market are Hewlett Packard Enterprise, Dell, Inc., NetApp, Inc., Hitachi, Ltd., Nutanix, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviors. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

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About Us:

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade, and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable, and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

We also provide state-of-the-art procurement intelligence through our platform, https://www.procurementresource.com. Procurement Resource is a leading platform for digital procurement solutions, offering daily price tracking, market intelligence, supply chain intelligence, procurement analytics, and category insights through our thoroughly researched and infallible market reports, production cost reports, price analysis, and benchmarking.

Informes de Expertos (https://www.informesdeexpertos.com), the Spanish variant of Expert Market Research, is a platform that offers market research and consultancy services to a broad clientele base across Spanish speaking countries. With our primary focus on the Latin America and Spain markets, our research experts provide relevant and actionable insights into the markets and track major trends, economic developments, and global trade data.

Determined to bring client satisfaction, we make sure that our tailored approach meets the client’s unique market intelligence requirements. Our syndicated and customized research reports cover a wide spectrum of industries ranging from pharmaceuticals and food and beverage to packaging, logistics, and transportation.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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