PUBLISHER: The Business Research Company | PRODUCT CODE: 1409828
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409828
“Storage And Servers Support Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on storage and servers support services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for storage and servers support services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The storage and servers support services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Storage and server support services entail a business model wherein a company offers its storage infrastructure to individuals or other businesses for data storage purposes, typically through rental or leasing arrangements. This approach is commonly adopted by organizations seeking efficient management of storage and server backups, providing cost savings on hardware, staff, and physical space.
The primary products within storage and server support services include rack servers, blade servers, microservers, and tower servers. Rack servers are IT hardware utilized to house multiple servers within space-efficient racks, allowing for coordinated data processing, protection, and storage of resources. Storage solutions encompass scale-out, scale-up, and other variations, deployed across on-premises, cloud-based, and alternative setups. These services find applications across various sectors such as BFSI (banking, financial services, and insurance), IT and telecom, government, defense, and others, serving diverse industrial and commercial needs.
The storage and servers support services market research report is one of a series of new reports from The Business Research Company that provides storage and servers support services market statistics, including storage and servers support services industry global market size, regional shares, competitors with storage and servers support services market share, detailed storage and servers support services market segments, market trends, and opportunities, and any further data you may need to thrive in the storage and servers support services industry. This storage and servers support services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The storage and servers support services market size has grown marginally in recent years. It will grow from $74.68 billion in 2023 to $75.79 billion in 2024 at a compound annual growth rate (CAGR) of 1.5%. The growth observed during the historical period can be attributed to several factors, including the proliferation of data leading to heightened storage requirements, the focus on business continuity and disaster recovery solutions, compliance needs with regulatory standards, the rising complexity of IT environments demanding efficient storage solutions, and growing concerns about data security and privacy.
The storage and servers support services market size is expected to see steady growth in the next few years. It will grow to $87.21 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The anticipated growth in the forecast period is expected to be driven by several factors, notably the transition towards hybrid and multi-cloud environments, a heightened emphasis on scalability and flexibility in storage solutions, integration of AI (Artificial Intelligence) and analytics, the increasing prevalence of remote workforce setups and accessibility demands, as well as a growing focus on energy efficiency and sustainability in data management practices. Key trends projected in the forecast period encompass a continued emphasis on scalability and flexibility in storage solutions, the adoption of containerization and microservices architectures for efficient data management, implementation of software-defined storage and networking technologies for enhanced flexibility and control, and increased collaboration and interoperability between various data management systems and platforms.
The anticipated growth of data traffic is poised to drive the expansion of the storage and server support services market. Organizational data traffic, representing high bandwidth usage for active and continuous network traffic routes, requires effective storage and server support solutions. These solutions play a crucial role in storing and maintaining organizational data traffic and applications, acting as a warehouse to enhance data operations with cost efficiency. For example, in November 2021, Ericsson reported a 42% year-on-year increase in mobile network data traffic in Q3 2021, reaching approximately 78 exabytes (EB). The total mobile network data traffic is projected to reach 370 EB by the end of 2027. This surge in data traffic is a driving force behind the growth of the storage and server support services market.
The growing demand for cloud-based services is expected to fuel the expansion of the storage and server support services market. Cloud-based services, encompassing a wide range of IT resources provided over the internet by third-party providers, drive the need for robust storage and server support services. These services include data storage, backup, server maintenance, and technical support to ensure the seamless functioning of cloud infrastructure. In December 2021, Eurostat reported that 41% of EU enterprises used cloud computing in 2021, primarily for hosting email systems and storing files electronically, marking a 5-percentage point increase from 2020. Large EU businesses adopted cloud computing at a rate of 72% in 2021, a 7-percentage point increase from the previous year. The rising demand for cloud-based services is a significant driver behind the growth of the storage and server support services market.
Technological advancements emerge as a key trend in the storage and server support services market, with major companies focused on developing cutting-edge storage solutions to enhance their market positions. For instance, in August 2023, Transaction Network Services (TNS) launched TNS Cloud, a platform for server management designed to provide full-suite trading infrastructure and support to buy- and sell-side institutions and their vendors. TNS Cloud-Server Management combines dedicated server hosting capabilities with direct server management, catering to high-performance exchange trading using bare metal servers and ultra-low latency trade connectivity. This technological advancement offers an end-to-end solution, enabling clients to reduce complexity and expenses associated with their trading centers, allowing personnel to focus on mission-critical business objectives and go-to-market opportunities.
Major players in the storage and server support services market are strategically directing their efforts towards scaling up the production of storage solutions to establish a competitive advantage. These solutions are meticulously designed to deliver exceptional performance and capacity, fostering memory cache coherency between CPU (central processing unit) memory and Peripheral Component Interconnect Express (PCIe)-attached Double Data Rate (DDR)-based memory devices. An example of this strategic focus is demonstrated by Supermicro Inc., a US-based information technology company, which, in August 2023, announced the commencement of high-volume production for its E3.S all-flash storage portfolio, complemented by new CXL memory expansion offerings. The E3.S storage solutions are engineered to accommodate the first PCIe Gen5 drives and CXL modules in the industry, catering to the demands of large AI training and HPC clusters. These clusters require efficient handling of vast amounts of unstructured data, optimizing data flow to GPUs and CPUs for accelerated results.
In March 2022, NetApp, Inc., a US-based hybrid cloud data services and data management company, executed the acquisition of Talon Storage for an undisclosed amount. This strategic move bolsters NetApp Inc.'s cloud data services portfolio and addresses challenges related to file sharing encountered by branch and distant offices. Talon Storage, a US-based company specializing in generation software-defined storage solutions, contributes to NetApp Inc.'s capabilities in providing comprehensive data management solutions for diverse organizational needs. This acquisition reflects the commitment of major companies in the storage and server support services market to enhance their portfolios through strategic acquisitions, reinforcing their position in the competitive landscape.
Major companies operating in the storage and servers support services market report are The Hewlett Packard Enterprise Company, Dell Inc., International Business Machines Corporation, Fujitsu Limited, Cisco Systems Inc., Lenovo Group Limited, Oracle Corporation, Huawei Technologies Co. Ltd., Shandong Inspur Software Co. Ltd., Microsoft Corporation, NEC Corporation, Hitachi Systems India Pvt. Ltd., Super Micro Computer Inc., AT&T Inc., Amazon Web Services Inc., Google LLC, Silicon Graphics International Corp., Intel Corporation, Zadara Storage Inc., Quantum Corporation, DigitalOcean Holdings Inc., Wasabi Technologies Inc., Salesforce Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., LG Corporation, VMware Inc., Arista Networks Inc., Check Point Software Technologies Ltd., Citrix Systems Inc. .
North America was the largest region in the storage and servers support services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the storage and server support services market report during the forecast period. The regions covered in the storage and servers support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the storage and servers support services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The storage and server support services market includes revenues earned through entities by providing storage engineering, software defined-storage, server management, compute engineering, flash engineering, data center interconnect, data protection, data management, and data engineering services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.