Dublin, April 17, 2025 (GLOBE NEWSWIRE) -- The "Data Center Storage Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034" report has been added to ResearchAndMarkets.com's offering.
The Data Center Storage Market was valued at USD 60.3 billion in 2024, and is projected to reach USD 146.4 billion by 2034, rising at a CAGR of 9.4%. As enterprises generate unprecedented volumes of data, the demand for scalable, efficient, and cost-effective storage solutions is surging. Businesses are increasingly relying on hybrid multi-cloud strategies to manage this exponential growth, ensuring seamless data retrieval, enhanced security, and optimized cost management. The widespread adoption of AI-driven workloads, edge computing, and big data analytics is further accelerating the need for next-generation storage architectures that can handle massive datasets with low latency and high reliability.
Organizations are gravitating toward cloud-based models due to their flexible pay-as-you-go pricing structures, allowing enterprises of all sizes to scale their storage needs efficiently. Cloud storage providers are introducing advanced technologies such as software-defined storage (SDS), AI-powered storage optimization, and non-volatile memory express (NVMe)-based solutions to meet evolving market demands. The shift toward high-speed storage architectures is crucial for enterprises managing mission-critical applications, high-performance computing, and vast unstructured datasets. Additionally, regulatory compliance and data sovereignty concerns are prompting businesses to adopt secure, geographically distributed storage systems that align with industry regulations.
The data center storage market is categorized into three primary architectures: block storage, file storage, and object storage. Block storage led the market in 2024, generating USD 20 billion in revenue. Its dominance stems from its superior performance, reliability, and ability to support databases and enterprise applications requiring structured data management and minimal latency. Block storage solutions are widely used in mission-critical applications, including financial services, e-commerce platforms, and enterprise resource planning (ERP) systems. The increasing adoption of containerized applications and microservices is also driving demand for high-speed block storage solutions that enhance operational efficiency and system responsiveness.
Across industry verticals, the IT and telecommunications sector accounted for the largest share of the data center storage market in 2024, representing 23.4% of the total market. The rapid expansion of cloud computing, artificial intelligence, and 5G infrastructure is propelling the need for high-performance, low-latency storage solutions. As telecom operators deploy hyperscale data centers and edge computing networks, investment in scalable and software-defined storage systems is surging. Cloud service providers and telecom enterprises are prioritizing AI-powered automation and predictive analytics to optimize storage capacity, improve system resilience, and reduce operational costs. The growing reliance on high-bandwidth applications and real-time data processing is reshaping storage infrastructure strategies across the industry.
North America dominated the data center storage market in 2024, holding a 30% share. The region's leadership is driven by its robust cloud infrastructure, substantial investments in AI-driven workloads, and the presence of leading technology firms. Businesses are increasingly deploying NVMe-based storage solutions and low-latency SSDs to accommodate the rising demand for AI-powered applications, big data processing, and real-time analytics.
Cloud service providers and enterprises are expanding data center capacities to support the growing need for scalable, high-performance storage architectures. As AI, machine learning, and IoT continue to drive data consumption, North America remains at the forefront of technological advancements, reinforcing its stronghold in the global data center storage market.
Market Impact Forces
- Growth drivers
- Rising adoption of cloud-based storage solutions
- Growing data generation from IoT, AI, and digital transformation initiatives
- Increasing demand for high-performance storage
- Expansion of hyperscale data centers
- Industry pitfalls & challenges
- High initial investment and maintenance costs for advanced storage solutions
- Security and data privacy concerns in cloud and hybrid storage environments
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter's Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
- In-depth company profiles, business strategies, financial insights, and SWOT analysis
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $60.3 Billion |
| Forecasted Market Value (USD) by 2034 | $146.4 Billion |
| Compound Annual Growth Rate | 9.4% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021-2034
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Startup funding analysis
3.8 Regulatory landscape
3.9 Impact forces
3.9.1 Growth drivers
3.9.1.1 Rising adoption of cloud-based storage solutions
3.9.1.2 Growing data generation from IoT, AI, and digital transformation initiatives
3.9.1.3 Increasing demand for high-performance storage
3.9.1.4 Expansion of hyperscale data centers
3.9.2 Industry pitfalls & challenges
3.9.2.1 High initial investment and maintenance costs for advanced storage solutions
3.9.2.2 Security and data privacy concerns in cloud and hybrid storage environments
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, by Storage, 2021-2034 ($Bn)
5.1 Key trends
5.2 Storage area network (SAN)
5.3 Network-attached storage (NAS)
5.4 Direct-attached storage (DAS)
5.5 Software-defined storage (SDS)
Chapter 6 Market Estimates & Forecast, by Architecture, 2021-2034 ($Bn)
6.1 Key trends
6.2 Block storage
6.3 File storage
6.4 Object storage
Chapter 7 Market Estimates & Forecast, by Component, 2021-2034 ($Bn)
7.1 Key trends
7.2 Hardware
7.3 Software
Chapter 8 Market Estimates & Forecast, by Medium, 2021-2034 ($Bn)
8.1 Key trends
8.2 Hard disk drive (HDD)
8.3 Solid-state drive (SSD)
8.4 Tape storage
Chapter 9 Market Estimates & Forecast, by Deployment Model, 2021-2034 ($Bn)
9.1 Key trends
9.2 On-premises
9.3 Cloud-based
9.4 Hybrid
Chapter 10 Market Estimates & Forecast, by Vertical, 2021-2034 ($Bn)
10.1 Key trends
10.2 IT & telecommunications
10.3 BFSI
10.4 Healthcare
10.5 Retail & e-commerce
10.6 Government & defense
10.7 Media & entertainment
10.8 Others
Chapter 11 Market Estimates & Forecast, by Region, 2021-2034 ($Bn)
Chapter 12 Company Profiles
- Amazon
- DataBank
- Dell
- Digital Realty
- Equinix
- Fujitsu
- Hitachi
- HPE
- Huawei
- IBM
- Infinidat
- Iron Mountain
- Microsoft
- NetApp
- NVIDIA
- Oracle
- Pure Storage
- Seagate
- Western Digital
For more information about this report visit https://www.researchandmarkets.com/r/k06mvi
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