Demand for Hybrid-cloud Storage to Spur Growth of Data Storage Market: A Research and Market Report
FREMONT, CA: Research and Markets unveils a latest report "Next-Generation Data Storage Market - Global Forecast to 2022" on the growth of data Storage market and finds it to grow at a CAGR of 16.76 percent in the forecast period 2016-2022. The report foresees the market to generate revenues close to $144.76 in the forecast period.
The report finds cloud storage market to act as one of the major contributor for the growth of data center market. Theincrease in demand for hybrid cloud storage and feasibility in deploying cloud storage solutions will further mark the market growth. The exponential growth of smartphones, laptops, tablets users and continuous developments in Internet of Things (IoT) has further boosted the use of data storage.
The data management software improves cost-efficiency for storing large amounts of data. It further incorporates an easy way for transferring data. These features will also act as one of the key reasons for the expansion of data storage market, reports Research and Market.
The increasing demand in manufacturing units and other industries are expected to generate major revenues for the market. The report further finds growth in RoW market in Brazil and other Middle Eastern countries will further generate higher revenues for data storage market in the forecast period.