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Next-Generation Data Storage Market Analysis To Reach $118.22 Billion By 2025 | Market Research Report
by rohit0024 · November 26, 2019
The global next-generation data storage market size is expected to reach USD 118.22 billion by 2025, according to a new report by Grand View Research DeSean Jackson Jersey , Inc. The market is projected to record a CAGR of 12.5% from 2019 to 2025. The market growth is driven chiefly by the rising consumer need for reliable, secure, and cost-efficient ways of storing and managing information.
Increase in digitization of information is also one of the key drivers of the market. Furthermore, IoT and embedded devices generate information Dallas Goedert Jersey , log files, and metadata. Securely storing large-scale datasets is the need of the hour and cloud computing is positioned to cater to this need of the market efficiently. Advancements and the increased adoption of cloud computing technologies and services such as hybrid cloud, IoT, BDaaS Carson Wentz Jersey , and PaaS are also expected to play a crucial role in the growth of the market in the near future.
The demand for next-generation data storing platform and technologies is also expected to rise in the face of the emergence of smart machines such as self-driving cars and robots. Connectivity with the internet and the presence of a variety of sensors and data storing systems in these machines make them a good source of an unprecedented volume of digital information that can be collected and analyzed for a range of purposes. These software-enabled machines are often controlled and operated from centralized remote points, necessitating the use of advanced and reliable solutions for storing information. Thus, the rising adoption of such machines is expected to drive the market in the near future.
The storing, management Brian Dawkins Jersey , and organization of data across various industries and sectors are often subject to specific data requirements of operations and processes specific to the industry or sector. Moreover, industrial expertise and technological advancements must be combined to achieve high-speed, large-scale, efficient Randall Cunningham Jersey , and secure data storage. These complex requirements could hinder the adoption of a variety of next-generation data storing solutions, especially in small- and medium-sized companies that lack the required infrastructure. Nevertheless, the emergence of advanced and economical technologies 鈥?backed by an increase in funding for R&D in emerging and investigational products 鈥?indicate a promising future for the global next-generation data storage market.
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