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Data Storage Market to Surpass USD 791.52 Billion by 2030

The growth of the data storage market is projected to reach a compound annual growth rate of 17.9% from 2023 to 2030, rising from an estimated value of $212.01 billion in 2022 to $791.52 billion in 2030, according to a report from SNS Insider. Key players in this sector include IBM Corporation, Microsoft Azure, and Equinix, among others. The high growth rate is driven by larger needs for efficient storage space, advancements in storage technology, a higher demand for cloud-based solutions as a result of increased cloud computing adoption, and the need for robust infrastructures to manage and derive value from big data generated by IoT.

Source: www.globenewswire.com –

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