Storage - United States | Statista Market Forecast

Revenue in the Storage market is projected to reach US$23.93bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 13.27%, resulting in a market volume of US$44.61bn by 2029.
The average Spend per Employee in the Storage market is projected to reach US$138.10 in 2024.
In global comparison, most revenue will be generated United States (US$24bn in 2024).

Definition:

The Storage market focuses on computing equipment specifically designed for information storage, including storage-intensive servers, external storage systems, and storage expansion systems. This market specifically focuses on solutions that target the high-capacity storage requirements of businesses and organizations, setting aside options like consumer-grade storage products such as portable storage devices and Network Attached Storage (NAS). These storage systems are vital for organizations that require dependable archiving, data backup, and recovery capabilities, serving as an indispensable component in advancing the digital capabilities of industries worldwide.

Additional Information:

The Storage market includes revenue, revenue change, average spend per employee, and key player market shares as key performance indicators. Only revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included, and revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed.

Key players in the Storage market include companies such as Dell, HPE, NetApp, and IBM.

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Storage Intensive Servers, such as Dell EMC PowerVault Series, and HPE StoreEasy Storage
Enterprise Storage Devices, such as HPE 3PAR StoreServ Storage, and IBM FlashSystem
Cloud Storage Solutions, such as integration with Amazon AWS S3, and Microsoft Azure Blob Storage

Personal Computers, such as Apple iMac, and Dell Inspiron Series
Consumer-Grade Storage, such as Seagate Hard Disk, and Samsung NVMe SSD

The Storage Market in the Data Center Market in the United States is facing a stagnant growth rate due to factors such as saturation in the market, slow adoption of new technologies, and the limited demand for storage services. These challenges are impacting the market's growth, resulting in a negligible growth rate.

Customer preferences: As the use of cloud computing continues to rise, there is a growing demand for secure and scalable storage solutions in the Data Center Market. This has led to a shift towards Software-Defined Storage (SDS), which offers greater flexibility and cost-effectiveness. Additionally, with the increasing adoption of edge computing, there is a growing need for edge storage solutions to support data processing and analysis at the edge. This trend is driven by the need for faster and more efficient data management to support the growing demand for real-time applications and services.

Trends in the market: In the United States, the Storage Market within the Data Center Market is experiencing a surge in demand for cloud-based storage solutions. This trend is driven by the increasing adoption of cloud computing and the need for scalable and cost-effective storage options. Additionally, there is a growing focus on data privacy and security, leading to the implementation of advanced encryption and access control measures. These trends are expected to continue, with potential implications for industry stakeholders such as data center providers, cloud service providers, and cybersecurity companies.

Local special circumstances: In the United States, the Storage Market within the Data Center Market is heavily influenced by the country's strong digital infrastructure and advanced technology adoption. This has led to a high demand for data storage solutions, especially in industries such as healthcare, finance, and e-commerce. Additionally, the strict data privacy regulations and compliance standards in the US have created a unique market environment, with a focus on secure and reliable storage options.

Underlying macroeconomic factors: The growth of the Storage Market within the Data Center Market is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investment in digital infrastructure. Countries with favorable regulatory environments and strong investment in data centers are experiencing faster market growth compared to regions with regulatory challenges and limited financial resources. Additionally, the increasing volume of data generated by businesses and the growing importance of data storage for efficient operations are driving the demand for storage solutions in the data center market.

Data coverage:

The data encompasses B2B enterprises. Figures are based on hardware-related expenses of businesses for setting up and maintaining an IT infrastructure.

Modeling approach / Market size:

Market sizes are determined through a top-down approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports and national statistical offices. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of digitization. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques, such as exponential trend smoothing and the S-curve function, is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

As businesses generate unprecedented volumes of data, the future of enterprise storage is evolving rapidly, driven by the rise of cloud solutions. Cloud storage offers scalability and flexibility, making it essential for enterprises aiming to manage data efficiently and cost-effectively. Undoubtedly, the need to assess storage requirements has been heavily influenced by the demands posed by data centers and artificial intelligence (AI) applications. From handling big data analytics in AI to supporting 5G in telecoms, traditional data storage methods have been challenged, with cloud solutions redefining how organizations store and access critical information.