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"
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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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