India Data Storage Market to Grow at CAGR of 7% till 2021
Rising smart devices penetration, expanding internet user base coupled with growing government initiatives towards digitization are expected to propel growth in data storage market through 2021
According to TechSci Research report, “India Data Storage Market By Type, By Application, By End Use, Competition Forecast and Opportunities, 2011 – 2021”, data storage market in India is projected to register a CAGR of more than 7% during 2016-2021, on account of continuing volumes surge of structured and unstructured data, increasing demand for high performance external drives and declining cost of data storage devices in the country. Rising investments by major IT players for strengthening their data center infrastructure is also expected to have a huge positive impact on the country’s data storage market in the coming years. In addition, government initiatives towards technological innovations such as introduction of ‘Digital India’ initiative are creating new opportunities for data storage companies across the country.
Browse 20 market data Tables and 40 Figures spread through 145 Pages and an in-depth TOC on “India Data Storage Market”
Increase in data storage capacity to store customer data is becoming a necessity for organizations. Consequently, enterprises are increasing their IT expenditure in order to address the growing need for storage space. Additionally, growing e-commerce sector and increasing penetration of smartphones among urban and semi-urban population is projected to significantly increase data storage requirements in the country over the next five years. External drives which include hard disk drives, solid state drives and flash storage are the key revenue generators in India data storage market. Though ‘External Storage’ as a segment is expected to continue its dominance in the country’s data storage market, ‘Cloud Storage’ is expected to witness significantly higher growth in the coming years. BFSI, IT & telecom, education, government, defense, healthcare and retail sectors are some of the leading end user segments for data storage market in India. Few of the major companies operating in the country’s data storage market include EMC2 India, NetApp India,IBM India, and HP Enterprises.
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“Increasing data generation from client interaction, growing live streaming of content over the internet for entertainment, increasing technology advancements in data storage and growing adoption of flash technology is anticipated to drive India data storage market during the forecast period. Further, rising internet penetration, growing smartphones users coupled with declining bandwidth consumption prices are driving data consumption, and this is projected to drive demand for high capacity storage devices in the country over the course of next five years. Anticipated increase in internet population, growing use of cloud storage and high speed data access technologies is anticipated to drive India data storage market through 2021.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Data Storage Market By Type, By Application, By End Use, Competition Forecast and Opportunities, 2011 – 2021” has evaluated the future growth potential of India data storage market and provides statistics and information on market structure, size, share, future growth and trends of India data storage market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in India data storage market.
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