The Hardware Storage Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Hardware Storage Market?
The global hardware storage market has seen significant expansion recently. The market, valued at $91.86 billion in 2024, is projected to reach $103.44 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 12.6%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Hardware Storage Industry?
The Hardware Storage Global Market is anticipated to reach a value of $164.4 billion in 2029, expanding at a compound annual growth rate (CAGR) of 12.3%.
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What are the Key Growth Drivers Fueling the Hardware Storage Market?
The key drivers in the hardware storage market are:
• Hybrid and multi-cloud strategies are driving growth in the hardware storage market.
• The ongoing process of digital transformation worldwide is fueling the market.
• The expansion of Internet of Things (IoT) contributes to the growth.
• Widespread adoption of cloud services and the explosion of data are primary growth drivers.
Global Market Segmentation: Identifying Major Hardware Storage Industry Segments
The hardware storage market covered in this report is segmented –
1) By Storage Architecture: File, Object-Based Storage, Block Storage
2) By Storage System: Network Attached Storage (NAS), Direct Attached Storage (DAS), Storage Area Network (SAN)
3) By Storage Medium: Solid-State Drive (SSD), Hard Disk Drive (HDD), Tape, Other Storage Mediums
4) By End Users: Enterprise, Government, Cloud Service Providers, Telecommunication, Other End Users
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What are the Emerging Trends Shaping the Future of the Hardware Storage Market?
The key trends in the hardware storage market are:
• The emergence of storage class memory is shaping the future of the market.
• A shift towards software-defined storage is a significant emerging trend.
• The market is increasingly influenced by an enhanced focus on data security and privacy.
• The expansion of cloud-integrated storage solutions and rise of non-volatile memory express storage are key trends.
Who Are the Top Competitors & Leading Players in the Hardware Storage Market?
Major companies in the hardware storage market are:
• Samsung Electronics Co. Ltd.
• Dell Technologies Inc.
• Huawei Technologies Co. Ltd.
• Lenovo Group Limited
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Systems Corporation
• Fuji Electric Co. Ltd.
• Micron Technology Inc.
• Hewlett Packard Enterprise Company
• Tokyo Shibaura Electric Co. Ltd.
• Nippon Electric Company Ltd.
• Western Digital Corporation
• Kingston Technology Company Inc.
• Seagate Technology Holdings plc
• NetApp Inc.
• Supermicro Computer Inc.
• Marvell Technology Group Ltd.
• Hitachi Ltd.
• Pure Storage Inc.
• Nutanix Inc.
• GlassBridge Enterprises Inc.
• Quantum Corporation Ltd.
• Inspur software Co. Ltd.
• Synology Inc.
Regional Dominance: Which Area Leads the Global Hardware Storage Market?
North America was the largest region in the hardware storage market in 2024
