The storage hardware market in 2022

Storage hardware is used to store applications and digital data in its various forms. It is a key component of any IT or data management system, whether on-premise or in the cloud.

Storage hardware can be used for long-term archiving and archiving purposes or to allow the processing unit to be accessed regularly either directly or remotely.

See below to learn more about the global storage hardware market:

Storage hardware market

The data storage market was estimated to be worth $ 54.03 billion in 2018, with a compound annual growth rate (CAGR) of 12.2% over the analysis period from 2021 to 2025, reaching a value of $ 120.94 billion by the end its.

Regionally, the US and China are expected to lead the market, followed by Asia-Pacific, led by Australia, South Korea and India. Other major regional markets driving demand in the global market include the UK, Japan, France and Germany.

By sector, the market is driven by the following segments:

  • Banking, Financial and Insurance Services (BFSI)
  • Retail
  • Health care
  • Government
  • Telecommunications

Storage hardware functionality

When researching storage hardware, there are several factors a company should consider before making a purchase:

  • Hardware longevity
  • Data type support
  • Compatibility with existing environments
  • Scalability
  • Resource manageability

When it comes to enterprise-grade storage hardware, the solution needs to be right for the type of data and its use cases, from accessibility to speed.

There are three common types of storage hardware that businesses use to store their data locally:

Storage on solid state drives

A solid state drive (SDD) is a type of data storage that contains no moving parts. It uses integrated circuits to store and access data, relying on semiconductors and electronics, using less power than their counterparts.

It is a variant of flash memory, which allows quick access to data. They are generally more expensive, but they also tend to be smaller in size.

Disk memory

Disk storage includes a broad category of storage hardware that stores data using magnetic, electronic, optical, or mechanical modifications on the surface of a spinning disk. Data is organized within the disk storage into individual blocks and segments, allowing for quick, non-linear access.

While it is suitable for large companies with huge amounts of data to archive due to its capacity and low cost, disk storage has a relatively short lifespan. It is also more fragile than its counterparts, where an unsuitable environment could damage its content and quality.

Archiving to tape drives

Tape drive storage is one of the older types of storage hardware. It can access and read data stored on a magnetic tape that can be accessed offline.

Data retrieval is slow, making it a suitable option for archiving, as the machine has to go through the entire tape and rewind it to access the required data. However, it is the cheapest and most resilient storage hardware option.

One of the biggest operational challenges that organizations face is the need to host remote work.

Businesses seek more flexible storage solutions and, in some cases, move to the cloud.

“To thrive in today’s world, in other words, to enable remote collaboration, support modern workloads with performance and protection, and do so without long delays and high costs, your data must be portable.” says Brendan Wolfemember of the Forbes Technology Council.

“Well, there is no need to replace the current storage infrastructure and clouds. Instead, one solution is to superimpose intelligent software on top of them that can act as a global file system. “

Advantages of storage hardware

There are numerous advantages to using exclusively or primarily your own hardware for data storage, such as:

  • Fully customizable security
  • Accessible offline
  • Reduction of data transfer costs
  • Full control over your data
  • Enable regulatory compliance

“Storage and memory affect a ton of different hardware products, from computers to USB sticks. … The amount of available storage space can also affect performance. The closer you are to your storage limits, the slower your device could run. So storage space and speed often go hand in hand, “he says a post on sba.gov.

“When considering buying new hardware, you first need to consider how much space is actually needed. See what you have stored on your current hardware products, if possible. “

Storage hardware use cases

The following case studies highlighting a variety of storage hardware solutions used by organizations across different industries:

City of New Orleans

The City of New Orleans is responsible for providing services to its residents.

The city’s digital infrastructure faced a cyber attack that forced the IT team to shut down its 470 servers and virtual machines (VMs) to mitigate damage. The attack ended up affecting 4,000 New Orleans government employees and just under half a million residents.

Seeking to minimize the chances of a similar incident occurring in the future, the New Orleans IT team cleaned up the city’s data and moved it to a new storage infrastructure provided by Pure Storage. Pure Storage FlashArray and Pure Storage FlashBlade were used to protect data and prepare for future disaster recovery instances.

“The Pure Storage team showed up, rolled up their sleeves and offered to help. Within days we had new equipment on site and started migrating our data to Pure “, says Kimberly LaGrueIOC, City of New Orleans.

“Our investment in Pure has more than proven its short-term value, but we are committed to the long-term value it provides to our citizens.”

With Pure Storage, the New Orleans storage system has become easy to use with reduced risk thanks to space-saving snapshots and faster backup and restore.

Bradesco

Bradesco is a financial group in Brazil that manages client assets.

Being in the financial sector, Bradesco needed a storage solution to meet the demand for banking and insurance solutions, along with availability on mobile services.

Working with IBM, Bradesco has created a secure and reliable online banking experience by using IBM Z and IBM Storage systems to deliver data availability and accessibility to its customers across Brazil.

“IBM tools, such as two-factor authentication, enable Bradesco to deliver a secure banking experience 100% of the time. These solutions ensure the security of confidential information. Our customers trust us for this, ” says Waldemar Ruggiero Jr.Executive GM, Banco Bradesco.

“IBM Z offers the resilience, security and agility we need to make sure our millions of customers can access our services anywhere, anytime, using any device.”

With IBM, Bradesco has been able to process over 1.5 billion monthly business transactions and ensure platform and data accessibility to over 36 million customers.

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Testo is a leader in quality and standard measurement, from food and pharmaceutical safety to heating systems and climate control. The German company employs 3,200 people worldwide and serves 650,000 customers.

By regularly handling huge amounts of data, Testo needed to implement a reliable data storage system. By working with NetApp, Testo was able to implement storage hardware and solutions that integrate seamlessly with the Trident storage orchestrator they were using.

“With the NetApp data fabric, we can deliver services quickly and move data between on-premise systems and SaaS or IaaS environments in no time.” says Klaus Hurstdata center for senior experts, Testo.

“When you want to manage IT with a future like Testo, my advice is to take a close look at your needs and the possibilities of NetApp on-premise, hybrid and in the cloud. It is worth it.

Storage hardware vendors

Some of the leading storage hardware vendors in the global market include:

  • Dell technologies
  • Microsoft
  • AWS
  • NetApp
  • Seagate
  • IBM
  • Juniper nets
  • Truth
  • Hitachi Vantara

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