Tiered Storage Market: Evolving Technology, Trends and Industry Analysis

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Inside Tiered storage Technology

Tiered storage is a data storage environment that leverages the installation of two or more tiers of storage, and meets industry objectives on the basis of major attributes including performance, price, functionality, and capacity. This storage system is used by enterprises for better alignment of data on storage devices with its importance or value to the organization. By implementing a tiered storage architecture, an organization can dramatically enhance its data storage capacities, increase performance, lower costs, and scale technology in order to meet the growing demand for storage requirements globally.

At present, the need for storage environment is growing across the world. As a result, an automated tiered storage system is becoming an essential architecture for consumers. This is primarily due to the fact that volume of digital data is constantly increasing and manual data movement is time consuming. With the recent development in the field of data storage market, enterprises are unceasingly adopting tiering strategies to manage and maintain data storage.

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Market Drivers tiered storage

The global tiered storage market is witnessing growth due to factors such as growing need to store large amount of data among enterprises and growing demand for cloud computing around the globe. Furthermore, growing demand for effective and efficient storage systems among enterprises is fueling the demand for tiered storage systems. Effective storage tiering has the capability to enhance storage density, addressing resources and environmental issues such as floor space, power consumption, and management overhead, on a per-gigabyte basis.

However, lack of awareness and data privacy concerns and free storage tiers are the major factors which are restraining the growth of this market. High penetration of external storage systems is also a key factor which is expected to hinder the growth of the tiered storage market in forthcoming years.

The global tiered storage market can be segregated based on application and geography.

By application, the market can be segregated into construction, retail, IT & telecom, transportation, security, banking, financial services and insurance, utilities, automotive and others.

Based on geography, the global tiered storage market can be segmented into Europe, Asia Pacific, North America, South America, and Middle East & Africa.

North America is anticipated to dominate the tiered storage market throughout the forecast period. Demand for tiered storage is growing at a faster rate due to the rising space constraints and rapid industrialization across the region

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