Storage Systems Market worth $130.4 billion by 2032, booming at 9.8% CAGR, Coherent Market Insights

Storage Systems Market Forecast to Reach USD 67.9 Billion by 2025, Driven by Global Data Explosion

/EIN News/ -- Burlingame, CA, May 29, 2025 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, the global storage systems market, stood at USD 67.9 billion in 2025 and is projected to advance at a resilient CAGR of 9.8% from 2025 to 2032, culminating in a forecasted valuation of USD 130.4 billion by the end of the period.

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Global Storage Systems Market Key Takeaways

According to Coherent Market Insights (CMI), the global storage systems market size is anticipated to grow at a CAGR of 9.8%, expanding from USD 67.9 Bn in 2025 to a staggering USD 130.4 Bn by 2032.

Based on deployment, on-premises segment is expected to account for nearly three-fifths of the global storage systems market share in 2025.

By storage system, direct attached storage (DAS) segment is projected to account for a market share of over 1/3 in 2025.

In terms of application, BFSI segment is set to dominate the industry, generating a market revenue of around USD 20.49 Bn in 2025.

As per Coherent Market Insights’ latest storage systems market analysis, Asia Pacific will likely remain the most remunerative pocket for players during the forecast period. It is expected to hold nearly two-fifths of the global industry revenue share in 2025.

Rapid Increase in Data Generation Fueling Market Growth

Coherent Market Insights’ latest storage systems market research report highlights key factors driving industry growth. One such prominent growth driver is the increasing data generation globally.

The volume of structured and unstructured data from sources like social media, IoT devices, and enterprise applications is increasing exponentially. According to the International Data Corporation (IDC), the global datasphere is expected to reach 175 zettabytes by 2025.

This explosive data growth will create high demand for advanced storage solutions, thereby providing growth impetus for the storage systems market. Both on-premises and cloud-based storage systems allow users to efficiently store, organize, and manage vast amounts of data.

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Technical Complexity and Privacy Concerns Limiting Growth

The future storage systems market outlook looks promising, owing to increasing data generation and rising need for efficient, scalable data storage solutions across various industries. However, technical complexity and data security concerns might limit market growth to some extent.

Integration new storage systems with existing IT infrastructure can be complex, time-consuming, and costly. This challenge often limits their adoption, especially among small and medium-sized enterprises, thereby reducing overall storage systems market demand.

Moreover, cloud storage systems are vulnerable to data breaches and cyberattacks. This limits their adoption, particularly in industries with strict data protection regulations.

Digital Transformation Initiatives Creating Growth Opportunities

Organizations across various industries are increasing their digital transformation efforts to succeed in the highly competitive environment. This is expected to drive demand for efficient, scalable, and secure data storage solutions.

Rising adoption of cloud computing, big data analytics, AI, and IoT technologies is generating massive volumes of data. This is compelling enterprises to invest in advanced storage solutions, thereby unlocking revenue-generation streams for storage system companies.

Emerging Storage Systems Market Trends

Growing popularity of cloud-based storage solutions among enterprises of all sizes is a key growth-shaping trend. Businesses are increasingly opting for cloud storage systems due to their flexibility, scalability, and cost-efficiency.

Many organizations are adopting hybrid cloud strategies by combining on-premise infrastructure with public cloud services. This will drive demand for hybrid cloud storage solutions in the coming years.

Rise of edge computing is resulting in the generation of massive volumes of data. This trend is expected to boost demand for storage systems during the assessment period.

There is also a growing trend of incorporating advanced technologies like AI and automation into storage systems to optimize performance as well as predict failures and manage capacity more effectively. These innovations will further boost the storage systems market growth.

Analyst’s View

“The global storage systems market is projected to register strong growth, owing to data explosion, increasing digital transformation initiatives, and growing popularity of cloud-based storage solutions,” said senior analyst Monica Shevgan.

Current Events and Their Impact on the Storage Systems Market

Event	Description and Impact
Rising Demand for Cloud Storage and Data Management	Description: Adoption of cloud computing is increasing significantly across industries. Impact: This is expected to drive demand for cloud storage systems and services.
Advancements in Storage Technologies	Description: Companies are striving to develop high-capacity storage drives. Impact: Introduction of storage solutions with increased storage density and cost-effectiveness will further boost the storage systems market value.
Growing Popularity of Edge Computing	Description: Edge computing devices and IoT networks are witnessing high penetration. Impact: This is leading to increased demand for decentralized storage solutions and edge data centers.

Competitor Insights

Key companies listed in the global storage systems market report:

• Dell Technologies
• Seagate Technology
• Cisco Systems, Inc.
• Hewlett Packard Enterprise (HPE)
• EMC Corporation (now part of Dell Technologies)
• Hitachi Vantara
• Kingston Technology
• IBM Corporation
• NetApp, Inc.
• Samsung Electronics
• Pure Storage, Inc.
• Microsoft Corporation (Azure Storage)
• Western Digital Corporation
• Toshiba Corporation
• Oracle Corporation
  

Key Developments

In May 2025, Hitachi Vantara introduced the Virtual Storage Platform 360 (VSP 360). It is a unified management software solution designed to help customers simplify data infrastructure management solutions as well as improve decision-making and the delivery of data services.

In April 2025, Lenovo expanded its storage portfolio with the launch of next-generation Lenovo Data Storage Solutions to accelerate IT modernization for the age of AI. The new solutions include software defined infrastructure (SDI), storage arrays, and new AI and virtualization innovations to flexibly address rapidly evolving data operations.

In January 2025, Seagate Technology Holdings plc launched new hard drive solutions with capacities of around 36 TB. The new products are designed to deliver unprecedented storage scale for large-scale data center deployment.

In March 2025, Huawei introduced AI-Ready Data Storage solutions. These solutions are designed to assist telecommunications carriers in embracing artificial intelligence (AI) by transforming disordered data into high-quality assets.

In November 2024, Hitachi Vantara expanded its hybrid cloud storage platform with the launch of all QLC Flash, object storage, and advancing cloud integration. These solutions are designed to help organizations optimize data management.

Market Segmentation

By Deployment Insights (Revenue, USD, 2020 - 2032)

• On-premises
• Cloud

By Storage System Insights (Revenue, USD, 2020 - 2032)

• Direct Attached Storage (DAS)
• Network Attached Storage (NAS)
• Storage Area Network (SAN)
  
  

By Application Insights (Revenue, USD, 2020 - 2032)

• BFSI
• IT and Telecom
• Media and Entertainment
• Automotive
• Government and Public sector
• Others

By Regional Insights (Revenue, USD, 2020 - 2032)

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Argentina
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN
  • Rest of Asia Pacific
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • South Africa
  • North Africa
  • Central Africa

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