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External Enterprise Storage Market Insight:
External enterprise storage is a centralized repository of business information that provides common data protection, management, and data sharing functions through connections across various computer systems. Enterprises handle the heavy workload of business-complex information, thus, enterprise storage systems are scalable for workloads of hundreds of terabytes, petabytes, without much cone or subsystem creation. In addition, an important aspect of an enterprise storage system is unlimited connectivity and support for multiple platforms. Numerous benefits are offered by enterprise storage solutions such as enable file sharing and collaboration among workers. External enterprise storage offerbusiness better performance, reliability, and availability &scalability of storage solutions.
Impact of COVID-19 on External Enterprise Storage Market:
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Growth of the external enterprise storage market is driven by various factors such as increasing adoption of digital transformation (AI &ML) projects across organizations, change in the adoption of cloud based storage, hybrid storage & all flash arrays, increased government spending in advanced storage technologies and growing volumes of data due to increasing workloads across verticals. In addition, there is a growing number of entrepreneurs looking for external enterprise storage solutions from storage vendors to make the business perform better with competitive prices, which drives market growth. However, advanced technologies such as software-defined storage and hyper-converged infrastructure are expected to restrain traditional external enterprise storage market. Contrarily, enterprises are allocating significant share of their budgets for external storage solutions and investment in the storage market are expected to surge the demand for external enterprise storage market in the forecasted years.
Proliferation of artificial intelligence and machine learning in the organizations
Artificial intelligence and machine learning have changed many different aspects of IT management, including storage. Machine learning algorithms are starting to be used for predictive storage analytics and storage management. It enables storage management processes to learn, alter settings and operations to optimize workloads, broker storage infrastructure, manage large-scale data sets, and root out the causes of problems and abnormalities and fix them. The adoption of AI and ML in the enterprises is expected to drive external enterprise storage market.
Adoption of cloud storage in organizations
Enterprise cloud storage includes storage capacity purchased from a public cloud service provider.
Enterprises often turn to cloud storage to reduce or minimize the cost of maximum premises, reduce the complexity of managing storage, and improve the infrastructure of the data center. For instance Amazon Web Services (AWS), Google Cloud and Microsoft Azure are using cloud storage to streamline business process. With the increasing adoption in cloud storage the organizations are expected to increase the demand for external enterprise storage market.
Key benefits of the report:
In the 2020 Budget, the UK government committed £5bn for next generation broadband and extended 4G coverage, but 5G will have accelerated adoption in the long-term. Post-COVID-19, it is expected to see a rise in cloud computing, as the ability to offer flexible and collaborative working becomes more important than ever in the shift to home working. Teleconferencing tools like Zoom and Microsoft Teams are seeing a boom as employees switch to remote work, and it will boom with the 5G adoption. COVID-19 is accelerating companies to transform their global supply chain model. Business leaders will need to look at new tools and technologies that can provide greater intelligence and build greater resilience into their supply chain against future disruptions. It is expected to see a huge investment in platforms that support applied analytics, artificial intelligence and machine learning to mitigate risks from these black swan events
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Key Market Players