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 the country is projected to grow at a CAGR of over 7% during 2016-2021.
Report URL :- https://www.techsciresearch.com/report/india-data-storage-market-by-type-external-drives-and-cloud-storage-by-application-storage-back-up-and-disaster-recovery-data-analytics-by-end-use-bfsi-it-and-telecom-government-etc-competition-forecast-and-opportunities-2011-2021/792.html
1. India Data Storage Market By Type, By
Application, By End Use, Competition
Forecast and Opportunities, 2011 - 2021
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
8. I n d u s t r y B r i e f
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India Data Storage Market to Grow at CAGR of 7% till 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.
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.
“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.