BANGALORE, October 23, 2015 /PRNewswire/ --

Mordor Intelligence is pleased to announce the publication of the report on Global Next Generation Storage Market on October 23, 2015. This report discusses the market in detail.

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The report is a study on the global next generation storage market along with an in-depth analysis of Asian, North-American, European and other regional markets.

Next generation storage solutions are the computing devices that are used to store, port and extract data files and objects in a quicker and efficient manner. Despite the global turmoil, the market for storage has been booming, owing to the increasing demand floating in from the buyers/clients for better performing storage infrastructures, leading to increased demand for flash storage solutions. Such advancements in technologies have led to better storage and recovery of information in a quicker and efficient manner.

The next generation storage market is expected to gain momentum owing to growth in demand for highly scalable, fast and economical storage solutions over the forecast period. The demand for Global Next Generation Storage Market is expected to witness CAGR of 37.24% over the forecast period, to reach a total market value of $9.22 billion by end of 2020, from its current worth $1.38 billion in 2014.

In 2014, the market for Global Next Generation Storage solutions by technology was dominated by the Hybrid array market with 73.63 per cent share followed by All-flash arrays and Cloud based disaster recovery solutions. Increasing demand and ability to solve storage performance problems for enterprises and service providers will be the key factors escalating the growth of the segment.

In the cloud storage era, users have access to the stored data in system without geographical limitation. The users only pay for the resources that are needed, while the providers bear the cost of building and maintaining the storage architectures.

Get the full report here: Global Next Generation Storage Market

Major players in the market are IBM, Dell Inc., EMC Corporation, NetApp, Inc., HP and SanDisk Corporation.

Asia-Pacific is the fastest growing region in Global Next Generation Storage Market with an estimated CAGR of 41.11% over the period 2014 to 2020, and is estimated to account for 24.96% market share by the end of 2020. Booming Indian economy with growing manufacturing sector will be the prime factor driving the growth of the market.

The application of Next Generation Storage market encompasses multiple sectors, such as BFSI, manufacturing, government, communication and others. The BFSI sector, however, contributed to 20.70% of the Global Next Generation Storage Market in 2014, followed closely by manufacturing sector which is poised to grow at highest compound annual growth rate of 40.51% over the forecast period.

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Mordor Intelligence is a global market research and consulting firm. Our singular focus is to provide research insights for business success. Our research team has expertise in diverse fields like Agriculture, Healthcare, ICT, Chemicals, Manufacturing, Logistics, Electronics and Automotive. However diverse the expertise maybe, everyone in our team shares one common trait - 'we love data and we love providing solutions to clients using that data'. Seeing your business flourish based on our solutions and strategy is what we love the most.

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SOURCE Mordor Intelligence LLP