New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Storage And Servers Support Services Global Market Report 2023" - https://www.reportlinker.com/p04442294/?utm_source=GNW
Ltd, Inspur Group, Microsoft Corporation, NEC Corporation, Hitachi Systems, Super Micro Computer Inc., AT&T Inc, Amazon Web Services Inc, Google LLC, Silicon Graphics International Corp, Intel Corporation, Zadara Storage, Cloudian, and Quantum Corporation.
The global storage and servers support services market is expected to grow from $70.32 billion in 2022 to $72.54 billion in 2023 at a compound annual growth rate (CAGR) of 3.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The storage and servers support services market is expected to reach $81.66 billion in 2027 at a CAGR of 3.0%.
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.
Storage and server support services refer to a business model in which a company rents or leases its storage infrastructure to other individuals or companies for data storage. It is commonly used by organizations for managing storage and server backups while providing cost savings on hardware, personnel, and physical space.
North America was the largest region in the storage and servers support services market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in storage and server support services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of storage and server support services are rack servers, blade servers, microservers, and tower servers.Rack servers refer to the IT hardware that is used to store multiple servers in a space-saving rack for IT operations to coordinate, protect, and store data processing resources.
The storage solutions are scale-out, scale-up, and others, that are deployed on-premises, cloud, and other modes. It is used in BFSI (banking, financial services, and insurance), IT and telecom, government, defense and others for various applications such as industrial and commercial.
Increasing data traffic is expected to propel the growth of the storage and server support services market going forward.Organizational data traffic refers to high amounts of bandwidth that are utilized for extremely active and constant network traffic routes.
Storage and server support solutions are used in the storage and maintenance of organizational data traffic and applications that act as a warehouse may be in situ or ex-situ to enhance the data operations with less cost. For instance, in March 2021, according to India Mobile Broadband Index 2021, in 2020, average monthly data traffic per user climbed by 20.4% year on year, owing to a rise in data subscribers and mobile video consumption. The average data per user/month climbed to 13,462 in 2020 from 11,183 in 2019. Additionally, in 2021, an average mobile connection in Korea produced 17,395 Megabytes of mobile data traffic per month, up from 4,280 Megabytes in 2016. Therefore, an increase in data traffic is driving the growth of the storage and server support services market.
Technological advancements are a key trend gaining popularity in the storage and server support services market.Major companies operating in the storage and server support services market are focused on developing technologically advanced storage solutions to strengthen their position in the market.
For instance, in June 2020, Dell Technologies Inc., a US-based technology company, introduced "EMC PowerScale," a new family of storage systems that were created with market-leading storage software and server hardware to establish a new industry standard for how businesses capture and profit from unstructured data, such as documents, images, videos, and social media content. PowerScale is a strong platform that can be used by organizations to store unstructured data and the software-defined architecture helps clients to handle large data easily without any challenges using its advanced intelligent automation solutions. Additionally, it is capable of handling data ranging from 11TB to tens of PBs and saves rack space by starting the cluster with only three nodes.
In March 2022, NetApp, Inc., a US-based hybrid cloud data services and data management company, acquired Talon Storage for an undisclosed amount. Through this acquisition, NetApp Inc. strengthens its cloud data services portfolio and addresses all the file-sharing issues faced by branch and distant offices. Talon Storage is a US-based company offering generation software-defined storage solutions.
The countries covered in the storage and server support services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The storage and servers support services market research report is one of a series of new reports 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.
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