The Latest Storage Industry Statistics Explained
The global data center storage market size was valued at USD 36.4 billion in 2020.
This statistic indicates that the total value of the global data center storage market in 2020 was estimated to be USD 36.4 billion. This figure represents the collective value of all storage solutions and services utilized by data centers worldwide. The size of the data center storage market is crucial as it reflects the increasing reliance on data storage and management solutions to handle the growing volume of digital information generated by businesses, organizations, and individuals. The substantial market size suggests a continued demand for data storage technologies and services, indicating ongoing growth and investment in the data center industry.
The market is expected to expand at a CAGR of 14.4% from 2021 to 2028.
This statistic indicates that the market is forecasted to grow at a compound annual growth rate (CAGR) of 14.4% from the year 2021 to 2028. The CAGR represents the average annual growth rate of the market over this period, taking into account the compounding effect. This forecast suggests a strong and steady growth trajectory for the market, with an expected annual expansion of 14.4%. It implies that the market is expected to experience significant growth opportunities and positive performance in the coming years, making it an attractive prospect for investors and businesses looking to capitalize on this growth potential.
The predicted value of the data storage market by 2025 is expected to be around 144.76 billion.
The statistic stating that the predicted value of the data storage market by 2025 is expected to be around 144.76 billion indicates the forecasted size of the market based on current trends and projections. This value serves as an estimate of the total revenue that companies operating in the data storage industry are anticipated to generate by the year 2025. Such predictions are derived from various factors such as technological advancements, market demand, competitive landscape, and economic conditions, which collectively influence the growth trajectory of the data storage market. As a critical metric for businesses and investors, this forecasted value informs strategic decision-making processes and helps stakeholders prepare for the future landscape of the industry.
In 2021, the total storage capacity of data centers worldwide was 2,653 Exabytes.
In 2021, the total storage capacity of data centers worldwide reached 2,653 Exabytes, indicating a massive amount of digital data that can be stored globally. This statistic highlights the increasing reliance on data centers to store and manage the vast quantities of information generated by individuals, organizations, and internet-connected devices. The exponential growth in data storage capacity reflects the growing importance of data in modern society, from business operations and research to communication and entertainment. The robust storage capacity of data centers enables the efficient processing, analysis, and retrieval of data, supporting various industries and applications in the digital age.
North America storage as a service market is projected to register a CAGR of 19.6% over the forecast period 2022 – 2027.
This statistic indicates that the North America storage as a service market is expected to experience a Compound Annual Growth Rate (CAGR) of 19.6% between the years 2022 and 2027. This suggests a strong and steady growth rate in the market for cloud-based storage services in North America over the specified forecast period. The projected CAGR of 19.6% signifies a significant increase in demand and adoption of storage as a service solutions by businesses and individuals in the region, likely driven by factors such as data growth, cloud technology advancements, and increasing need for scalable and cost-effective storage solutions.
Asia-Pacific (APAC) region is expected to show the highest growth rate in the storage as a service market.
The statistic that the Asia-Pacific (APAC) region is expected to show the highest growth rate in the storage as a service market indicates that this particular market segment is projected to experience significant expansion in the APAC region in comparison to other regions globally. This growth can be attributed to various factors such as the increasing adoption of cloud-based storage solutions, the rapid digital transformation occurring in many APAC countries, and the rising demand for scalable and cost-effective storage options among businesses in the region. The favorable economic conditions, technological advancements, and government initiatives supporting the growth of the IT sector in APAC are likely contributing to this trend. Overall, this statistic suggests a promising market opportunity for storage as a service providers looking to tap into the fast-growing APAC region.
The energy storage market is to grow from USD 3.0 billion in 2020 to USD 9.0 billion by 2025, at a CAGR of 24.9%.
The statistic indicates that the energy storage market is projected to experience significant growth over the forecast period from 2020 to 2025. Specifically, the market size is expected to increase from USD 3.0 billion in 2020 to USD 9.0 billion by 2025, representing a Compound Annual Growth Rate (CAGR) of 24.9%. This suggests a rapid expansion in the demand and adoption of energy storage solutions, driven by factors such as increasing focus on renewable energy integration, grid modernization efforts, and the need for reliable and resilient energy supply. The projected growth rate highlights the potential for lucrative opportunities in the energy storage sector and underlines the importance of this market segment in the broader energy industry landscape.
The solid-state drive market is forecasted to reach USD 51.5 billion by 2026 from USD 20.8 billion in 2021, at a CAGR of 19.9% during the forecast period.
This statistic indicates that the solid-state drive market is projected to experience significant growth over the forecast period, with an expected increase in market size from USD 20.8 billion in 2021 to USD 51.5 billion by 2026. The Compound Annual Growth Rate (CAGR) of 19.9% during this period suggests a consistent and steady growth trajectory for the market. This forecast suggests that solid-state drives are gaining popularity and market acceptance, likely driven by increasing demand for faster and more efficient data storage solutions across various industries and consumer markets.
By 2025, around 80% of businesses will shift from traditional data storage to cloud storage.
The statistic states that by the year 2025, approximately 80% of businesses will transition from using traditional data storage methods to utilizing cloud storage solutions. This shift suggests a significant trend towards adopting more flexible, scalable, and cost-effective data storage options. Cloud storage offers businesses the ability to store and access their data securely from anywhere, reduce operational costs, and achieve greater data processing capabilities. This statistic highlights the increasing importance of cloud technology in modern business operations and the growing recognition of its benefits among organizations looking to streamline their data management processes and stay competitive in a rapidly evolving digital landscape.
In 2020, 48.9% of storage capacity shipped was via hyperscale data centers.
The statistic stating that 48.9% of storage capacity shipped in 2020 was via hyperscale data centers indicates a significant trend in the data storage industry. Hyperscale data centers are large-scale facilities equipped with vast amounts of computing resources designed for scalability and efficiency. The fact that nearly half of the storage capacity was shipped through hyperscale data centers highlights the growing reliance on these cutting-edge facilities by businesses and organizations for their data storage needs. This statistic suggests that hyperscale data centers have become a major player in the data storage market, offering advantages such as cost-effectiveness, flexibility, and high performance for handling the increasing volumes of data generated in today’s digital world.
The revenue market share of Dell Inc. in the enterprise storage space was 27.8% in the second quarter of 2018.
This statistic indicates that Dell Inc. held a significant portion of the revenue generated in the enterprise storage market during the second quarter of 2018, capturing 27.8% of the total market share. The revenue market share is a measure of the company’s performance relative to its competitors in generating sales in the enterprise storage space. A higher market share suggests that Dell Inc. was successful in attracting customers and generating revenue compared to other companies in the industry during that period. This statistic provides insights into Dell Inc.’s competitive position and performance in the enterprise storage market during the specified time frame.
By 2025, the global storage market is expected to reach 100 zettabytes.
The statistic indicates that by the year 2025, the global storage market is projected to expand significantly, reaching a total capacity of 100 zettabytes. This immense amount of storage demonstrates the growing demand for data storage solutions as the digital world continues to evolve rapidly. Factors driving this growth include the increasing volume of digital content generated by individuals and organizations, the rise of technologies like cloud computing and the Internet of Things (IoT), and the ongoing digitization of various industries. This statistic underscores the critical role that data storage plays in modern societies and economies, highlighting the need for continuous innovation and investment in storage infrastructure to accommodate the ever-expanding volume of data.
5G storage systems to grow at over 30% CAGR and reach nearly $5.5 billion by 2025.
The statistic indicates that the market for 5G storage systems is projected to experience significant growth with a compound annual growth rate (CAGR) of over 30% over the forecast period, ultimately reaching a market size of nearly $5.5 billion by 2025. This high growth rate suggests a strong demand for storage systems that can support the infrastructure and data requirements of 5G technology, which promises faster data speeds, lower latency, and increased connectivity. The increasing adoption of 5G technology across various industries is expected to be a key driver for the growth of 5G storage systems as organizations seek to store and manage the massive amounts of data generated by these advanced networks.
Most organizations spend between 20% and 40% of their IT budget on storage.
The statistic that most organizations spend between 20% and 40% of their IT budget on storage indicates the significant financial allocation dedicated to managing data storage infrastructure. This range suggests that storage expenses play a substantial role in overall IT spending, reflecting the importance of data retention, accessibility, and security within modern organizations. Companies may invest more heavily in storage solutions for various reasons, such as increasing data volumes, regulatory compliance requirements, and the need for reliable data backup and recovery capabilities. Efficient management of storage costs and resources is crucial for organizations to optimize their IT budgets and ensure effective data management practices.
In 2020, the global Software-Defined Storage (SDS) market was valued at $10.9 billion.
The statistic provided states that the global Software-Defined Storage (SDS) market was valued at $10.9 billion in the year 2020. This figure represents the total monetary value of the SDS market, which includes all software-defined storage solutions and services sold worldwide in that year. The value reflects the growing adoption and importance of SDS solutions in the IT industry, as organizations seek more flexible, scalable, and efficient storage options to handle the increasing volume of data generated and stored. This statistic serves as a key indicator of the market size and economic significance of SDS technology in 2020, highlighting its role in modern data management strategies and the overall digital transformation landscape.
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