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It’s Time for StorageNxt

Blog: NASSCOM Official Blog

Rapidly growing volumes of data and advancements in technology have opened several new doors for the Storage industry. Owing to the demand for safe data storage, protection, and analysis, the business world is quickly pivoting towards AI-driven, All-Flash storage models to enable the next level of cost-saving and efficiency. The need is to do that while paving the way for an ecosystem that is predictive, scalable, and secure. Reports suggest that the next-generation data storage market will reach $81 billion by 2025, at a CAGR of 8.5%.

The Storage industry has come a long way

The industry began its journey with the solid state and flash drive space, which, at that time, was sufficient to meet the basic storage demands of organizations. However, as the popularity of cloud sky-rocketed, the industry truly entered the realm of software-defined storage that enabled enterprises to get easy access to cloud storage as and when needed.

However, over time, the demand for low-cost data storage, faster data accessibility, and in-built security grew even more. This paved the way for cloud-enabled storage solutions. These solutions not only brought down the cost of storage; but they also drastically reduced the threat perception – especially for organizations in the banking, healthcare, and government sectors.

Soon, storage companies began combining storage and compute with convergence technology. This helped in eliminating the physical, logical, and management barriers that were common to traditional data storage and retrieval methods. Today, the industry is moving towards next-generation storage solutions, built on the foundation of AI, IoT, and other smart technologies.

Next-gen storage solutions are quickly picking up pace

Today, as the amount of structured (and unstructured) data that is being generated by organizations grows manifold, there is an increased need for reliable, cost-effective, and advanced storage solutions to store and manage those huge volumes of data. Next-gen storage solutions can provide organizations with the solutions to meet the market demands. Here is how Storage is witnessing disruption from all quarters:

Keep up with the trends

The data storage industry is constantly evolving, with new trends and technologies disrupting the industry like never before. Although it is tough to predict the future, it is important to be aware of the latest advancements, prevailing micro trends, ongoing disruptions, venture funding, and emerging market opportunities. Embracing the latest innovations in All-Flash, Cloud Storage, HCI, NVMe/NVMe-oF, Persistent Memory, and Computational Storage is a great way to better manage the three critical dimensions of data, namely, storage, protection, and analytics, and propel towards achieving the next level of cost-saving, performance, and efficiency.

Looking to know more about the current state of the storage industry and capitalize on emerging opportunities? Our keynote on “StorageNxt: Disruption, Opportunities, and Funding Insights” at SDC 2020 has all the information you need about the present and future of storage.

You can also subscribe to our Monthly Newsletter “Hyphen” to get regular updates around the latest industry concerns and solutions.


The post It’s Time for StorageNxt appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

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