Data Center Storage Market at $63.72 billion in 2024, to Grow to $71.76 billion in 2025

This market report ($4,900) was published by Precedence Research.

Data Center Storage Market Size, Share and Trends 2024 to 2034

The global data center storage market size is calculated at $63.72 billion in 2024, grew to $71.76 billion in 2025 and is predicted to reach around $208.96 billion by 2034. The market is expanding at a CAGR of 12.61% between 2024 and 2034.

Precedence

Increasing digitalization across various industries generates huge amounts of data, which further creates the need to manage the data securely owing to the stringent government regulations for data privacy, fuelling the demand for the data center storage market on a global scale.

Data Center Storage Market Key Takeaways

North America accounted for the largest share of the global data center storage market in 2023.
AsiaPac will host the fastest-growing market in the forecasted years.
By deployment, the SAN segment dominated the global market in 2023.
By application, in 2023, the IT & telecommunication segment accounted for the largest share of the market.
By application, the Banking, Financial Services, and Insurance segment is expected to witness the fastest growth in the market over the studied period.

^{Market Overview}The global data center storage market is proliferating due to the increasing demand for robust IT infrastructure in different sectors, including M&E, IT and telecom, and cloud computing. To meet the IT load capacity and its increasing requirement, the traditional storage systems fall short of meeting expectations; therefore, advanced systems take over and are used in many organizations. The advanced storage systems are known as all-flash storage and hybrid storage. As local data security plays an important role, SMEs and the public sector also invest and rely on data center storage, which further ensures the compilation of the government’s regulations for security and data privacy.

In the advanced data center storage market, the flash storage is driving due to the digital services and data intensive technologies and expansion of the data centre in the global market. Data traffics increasing due to the mobile data usage, adoption of the 5G networks in economically evolving countries like India, China including hyperscale facilities further fuelling the demand for the data centre storage.

Important updates on the global data storage solutions

Global data is expected to reach 200ZB by 2025.
79% of small businesses store less than 50TB.
Data stored in the cloud is projected to reach 100ZB in 2025.
In 2022, cloud services amounted to $225 billion.
SAN storage market is expected to reach $52.3 billion by 2032.
Nearly 10,978 data centres exist globally.
In 2021, data centers have stored 1,327EB of data.

AI Impact on the Data Centre Storage Market
AI is significantly impacting the market by creating a requirement for data-intensive applications across various fields. AI and ML need a huge dataset to train the models, which is the major reason driving the market’s demand on a global scale for high-capacity storage solutions. Also, real-time data processing is demanded in the market on consumer demand, and with the help of analytics, it is further propelling the data center storage market on a wider scale. Also, the increasing adoption of AI and ML in various sectors requires advanced storage space that is able to handle complex tasks and huge datasets.

Data Center Storage Market Growth Factors

•ncreasing usage of mobile data. Proliferation of 5G and adoption of the data driven technologies propelling the data center storage market.
Increasing data traffic across various industries needs to manage data securely.
Businesses have rising needs to cater various services for consumers.
Governments have stringent regulations for data security and privacy, which are mandatory for organizations to comply with.
Investment in data center storage owing to the internet infrastructure and the national security concern.
Increased hyperscale facilities.
To support the digital transformation and adoption of remote work, many industries like manufacturing and public sector are investing into the development of data centre storage.

Data Center Storage Market Companies