Global Storage Services Market to Exceed $91 Billion by 2019 – Technavio

According to the market research study released by Technavio, the global storage services market is expected to exceed $91 billion by 2019, growing at a CAGR of over 7% during the forecast period.

This research report titled Global Storage Services Market 2015-2019 (85pages, $2,500), provides an analysis of the market in terms of revenue and emerging market trends.

The report segments the global storage services market by services
and can be divided into four broad segments:

• Storage management
• Storage deployment and support
• Storage integration
• Storage consulting
• Storage management services

Storage management
Storage management is the process of enhancing the efficiency and speed of electronic storage. It monitors and tracks the performance of a storage area, which enables the optimization and proactive management of storage devices.

In addition, it maximizes the capacity of storage systems with which the available drive space is utilized in a storage area. Therefore, storage management helps enterprises discover unused storage space and invalid data so that the latter can be shifted to media alternatives. The technology also helps streamline future storage requirements.

According to Amit Sharma, lead analyst at Technavio for IT professional services research, “The importance of storage management is increasing among enterprises as computing has become more complex and enterprise data has become more valuable. For instance, enterprise data is growing at over 60% annually, and this burgeoning growth requires new approaches to address the growing complexity.”

Storage deployment and support services
The storage deployment and support segment accounted for 30%-35% of the global storage service market in 2014. The deployment of storage infrastructure in enterprise data centers is driven by the on-demand requirement. With the growing digital data and business demands, faster deployments of storage systems have become essential.

Initial deployment of storage infrastructure follows a set of designs that includes the storage that supports the attached server infrastructure in the data center. The most commonly offered storage systems by vendors are SAN and NAS. These systems are offered by vendors such as Dell, HP, and IBM. There are also continuous innovations by vendors to improve the efficiency, performance, reliability, and durability of storage systems.

Flash-based storage device deployment is growing to support mission-critical applications. Vendors possess expertise in the deployment of storage infrastructure and conduct performance tests for up to 30 days, including documentation and knowledge transfer. In terms of support services, vendors also provide life cycle support through warranty, and constant monitoring and management can be carried out.

Storage integration services
The storage integration services segment is one of the fastest growing segments in the global storage services market. It accounted for 13-17% of the market in 2014 and is expected to grow during the forecast period.

The storage integration services are gaining immense significance across various industries. Integration of infrastructure, applications, and resources through IT improves communication and information exchange considerably.

“The need for enhancement of storage services has increased among enterprises over the past decade. Many business enterprises opt for storage integration services to reduce their storage operational complexity through integration tools and technical experts,” says Amit.

For instance, the storage integration services offered by Dell include: project management, planning, installation, testing, product orientation, and rack integration.

Storage consulting services
In 2014, the storage consulting services segment accounted for 10%-15% of the global storage services market. Due to the emergence of various storage techniques, the storage consulting services play a major role in providing advice on storage design, implementation, and products for business enterprises.

They help enterprises to design optimal storage management and data center optimization architectures as well as comprehensive deployment plans for enterprises to achieve an enhanced ROI.

Technavio’s ICT analysts highlight the following five vendors as the top contributors to the global storage services market: Accenture, EMC, HDS, HP and IBM.