Next-generation data storage market worth $99.48 billion by 2032

The next-generation data storage market is expected to reach USD 99.48 billion by 2032 from USD 70.27 billion in 2026, registering a CAGR of 6.0% during the forecast period, according to Markets and Markets.

Next-generation data storage market trends & insights:

• The next-generation data storage market is witnessing significant growth due to the increasing generation of digital data and the rising adoption of AI, cloud computing, and big data analytics across industries. Organizations are increasingly deploying advanced storage solutions such as SSDs, NAS, and object storage to improve scalability, performance, and data accessibility. Additionally, growing investments in hyperscale data centers, hybrid cloud infrastructure, and high-performance computing environments are further accelerating market expansion globally.
• By Storage Medium, the solid-state drives segment dominated the market with a share of 60.0% in 2025.
• By Storage Architecture, the file and object-based storage segment is expected to register the highest CAGR of 6.5% during the forecast period.
• By Deployment Mode, the hybrid segment is projected to experience the highest growth rate during the forecast period.
• By End User, the enterprises segment is estimated to exhibit a high CAGR during the forecast period.
• By region, North America accounted for a 43.1% revenue share of the next-generation data storage market in 2025.

The next-generation data storage market is driven by the increasing modernization of enterprise IT infrastructure and the growing need to manage large volumes of digital content efficiently. The rising adoption of connected devices, smart technologies, and real-time business applications is generating significant amounts of structured and unstructured data, creating strong demand for scalable and high-capacity storage systems. In addition, the expansion of hyperscale and colocation data centers, along with the increasing focus on reducing operational downtime and improving storage efficiency, is accelerating the adoption of advanced next-generation storage solutions globally.

Network-attached storage segment to witness highest CAGR during forecast period.
By storage system, the network-attached storage segment is projected to register the highest CAGR due to the increasing demand for centralized and easily accessible storage infrastructure across enterprises. Organizations are increasingly adopting network-attached storage solutions to support collaborative work environments, remote data access, cloud integration, and efficient file-sharing capabilities. The growing volume of unstructured data generated from digital platforms, enterprise applications, and multimedia content is further accelerating the demand for scalable network-attached storage systems. In addition, network-attached storage solutions offer simplified deployment, flexible scalability, and cost-efficient storage management, making them highly suitable for modern enterprise and cloud-based environments.

Enterprises segment to record largest market share during forecast period.
By end user, the enterprises segment is expected to hold the largest share of the next-generation data storage market due to the increasing generation of business-critical data across various industries. Enterprises are continuously investing in advanced storage infrastructure to support cloud computing, AI, big data analytics, and digital transformation initiatives. The growing need for secure data management, high-speed data access, regulatory compliance, and disaster recovery solutions is further accelerating the adoption of next-generation storage technologies across enterprise environments. In addition, rising demand for scalable and high-performance storage systems to manage expanding workloads and operational data is supporting the dominance of the enterprise segment in the market. Markets and Markets