External Storage Market Revenue, Opportunity, Segment 2027
External storage tools are crucial components of modern businesses. The growth of external storage market is driven by factors such as increasing uptake of digital transformation projects across organizations, momentum in the adoption of hybrid & all flash arrays, increased government spending in advanced storage technologies and growing volumes of data due to increasing workloads (such as VDI, OLTP and DB) across verticals. Additionally, increasing number of enterprises are shifting to procure external storage solutions from by small storage vendors, offering better capacity/performance with competitive prices. Enterprises are allocating significant share of their budgets for external storage solutions and an appreciable portion of these investments are expected to flow into the external storage market. However, advanced technologies such as software-defined storage and hyper-converged infrastructure are expected to cannibalize traditional external storage market, and is expected to have a large impact during the forecast period.
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