The Computer Storage Devices And Servers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Computer Storage Devices And Servers Global Market Report 2024, The computer storage devices and servers market size has grown strongly in recent years. It will grow from $105.23 billion in 2023 to $110.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to growth of data explosion, big data analytics, mobile device proliferation, globalization of businesses, cybersecurity concerns.
The computer storage devices and servers market size is expected to see strong growth in the next few years. It will grow to $138.08 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to sustainable data centers, rise of edge servers, nvme adoption for storage devices, increased focus on data security in servers, storage virtualization for efficiency. Major trends in the forecast period include storage class memory integration, software-defined storage (sds), hybrid and multi-cloud storage solutions, ai-optimized storage and servers, shingled magnetic recording (smr) in hdds.
Data volume generated from personal devices and various business operations in many industries is rapidly increasing; this is expected to drive the demand for storage devices during the forecast period. For instance, the total data generated worldwide is projected to reach 163 zettabytes (ZB) by 2025. In order to manage this rising data volume, the demand for storage devices from both corporate and individual customers is expected to drive the computer storage devices and servers market in the forecast period.
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The computer storage devices and servers market covered in this report is segmented –
1) By Type: Computer Storage Devices, Computer Servers
2) By Application: Mainframes, Desktop, Laptop Computers, Tablets, Smartphones
3) By End-Use: Residential, Commercial
The demand for solid state drives is growing rapidly as it offers higher space and speed than traditional hard disks. A solid state drive is a non-volatile storage media that stores data on solid-state flash memory and offers high-speed data read and write operations for both sequential and random data requests. Unlike a hard disk drive, SSD’s do not have moving parts and are lightweight and small in size. Solid state drives find applications in laptops, personal computers, enterprise storage hardware, smart phones, tablets and many others. According to the International Data Corporation, the market for solid state drives is expected to reach $33.6 billion by 2021 at a CAGR of 14.8%.
The computer storage devices and servers market report table of contents includes:
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