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5G Data Storage Market Overview
The 5G Data Storage Market size is estimated to reach US$7.2 billion by 2027, growing at a CAGR of 9.2% from 2022 to 2027. The increasing use of connected devices across various industry verticals and rising demand for 5G services have boosted the 5G Data Storage Industry. Additionally, the rise of advanced technologies such as artificial intelligence and machine learning has produced memory storage that can hold a high volume of digital data such as five-dimensional optical storage, flash memory storage and solid state drives (SSDs). This contributes to the growth of the 5G Data Storage Market. Rising investments in high-resolution gaming devices, as well as an increase in consumer electronic devices with 5G connectivity such as smartphones, laptops and PCs, would eventually drive demand for the 5G Data Storage Market. The digitalization process across all industries has created a large volume of digital data which paved the way for the adoption of 5G Data Storage. These factors would positively influence the 5G Data Storage Industry Outlook over the forecast period.
Report Coverage
The report: “5G Data Storage Industry Outlook –
Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the
following segments in the 5G Data Storage industry.
Key Takeaways
- In the 5G Data Storage Market report, the flash memory storage segment is analyzed to grow at a significant CAGR of 10.1% due to improved performance, widespread applicability and faster speed.
- The IT & Telecommunications industry is expected to grow at the highest CAGR of 10.8%, owing to factors such as growing cloud service adoption and increasing adoption of IoT and AI.
- APAC region had the largest share of the market in 2021 with a market share of 38.76% in the 5G Data Storage Market size, owing to factors such as growing digitalization, a shift towards industrial IoT and government initiatives.
5G Data Storage Market Value Share, by Region, 2022 (%)
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5G Data
Storage Market Segment Analysis - by Product Type
By Product Type, the Flash Memory storage segment in the 5G
Data Storage Market report is analyzed to grow at the highest CAGR of 10.1%
during the forecast period 2022-2027. To cater to user requirements like improved
performance, supporting multiple applications at a time, faster read or write
speeds and uploading or downloading, the demand for 5G compatible flash memory
storage has increased, boosting the 5G Data Storage Market size. New
technological advancements such as five-dimensional optical data storage also
boost the 5G Data Storage Market forward. In June 2021, Western Digital
announced the release of iNAND EU521 embedded flash memory storage which would enable smartphone and tablet users to have 5G connectivity. These factors would boost the flash memory segment in the 5G Data Storage Market.
5G Data
Storage Market Segment Analysis - by End-use Industry
Based on End-use Industry, the IT & Telecommunications segment in the 5G
Data Storage Market report is analyzed to grow at the highest CAGR of 10.8%
during the forecast period 2022-2027. The growth would be driven by factors such as growing cloud
service adoption, new technological availability such as five-dimensional
optical data storage due to IoT and artificial intelligence and the need for
telecom operators to improve network communications. They have
all contributed to the growth of the 5G Data Storage Market in the IT &
Telecommunications industry. In February 2020, Huawei announced the launch of
OceanStor 5G-Era storage solutions designed to assist carriers and enterprises
in dealing with the explosive growth of digital data. The IT &
Telecommunications industry would grow due to such advancements which would in
turn boost the 5G Data Storage Market size.
5G Data Storage Market Segment Analysis - by Geography
APAC dominated the global market for 5G Data Storage with a market share of 38.76% in 2021. It is also analyzed to have a significant growth over the forecasting period. Growing adoption of high-resolution content, a shift toward industrial IoT, digitalization and government initiatives to support 5G infrastructure have all contributed to the growth of the 5G Data Storage Market in the region. According to an Ericsson Mobility report of June 2022, approximately 39% of the mobile subscribers would use 5G data storage by the end of 2027, which is estimated at 500 million subscribers. These factors would bolster the presence of the APAC region in the 5G Data Storage Industry.
5G Data
Storage Market Drivers
The increasing adoption of connected devices and integration of artificial intelligence and IoT:
The increasing
adoption of connected devices is a major factor driving the growth of the 5G Data Storage Market. With the increased demand for connected devices and IoT applications,
high connectivity, low latency and reliable communication networks such as 5G
has become critical. Since IoT devices generate massive amounts of digital data, the demand for 5G Data storage solutions is constantly increasing. In October
2021, Dell announced new additions to its Dell EMC PowerScale portfolio which
is a 5G network-attached data storage solution for AI-based projects. These new
developments would positively influence the 5G Data Storage Industry Outlook
over the forecast period.
Increasing investment in cloud business infrastructure:
Growing
investment in cloud business infrastructure can also be viewed as a major
factor driving 5G Data Storage Market growth. The proliferation of hyper scale data centers, the shift to cloud computing and the growing adoption of
cloud-based application models have all emerged as critical factors in boosting the demand for 5G-based data storage solutions. Integrating 5G with cloud-based data
storage allows for increased storage capacity, flexibility and faster data
management, among other benefits. In May 2019, NetApp announced the release of
ONTAP 9.6, a mid-range end-to-end NVMe AFF A320 storage system. This
cloud-based flash solution was created to provide a high-quality storage
solution for businesses working with artificial intelligence or 5G networks, as
well as analytics for engaging users. These factors would change the 5G Data
Storage Industry Outlook over the forecast period.
5G Data Storage Market Challenges
Data breaches, security and privacy concerns:
One of the
major challenges impeding market growth is the set of security and privacy concerns related
to 5G Data Storage. With the rise of cybercrime and advancements in security
breach threats, 5G-enabled connections are vulnerable to data hacking, data
exploitation and other cyber-attacks. Since 5G networks have limited physical
boundaries and usage of cloud-based data storage models, their integration across
various critical IT applications may cause data security and privacy concerns in the long run and hamper the market growth.
5G Data Storage Industry Outlook
Product launches, collaborations and R&D activities are key strategies adopted by players in the 5G Data Storage Market. The top 10 companies in the 5G Data Storage Market are:
- Huawei Technologies Co. Ltd.
- Ericsson
- Samsung Electronics Co. Ltd.
- ZTE Corporation
- Micron Technology Inc.
- Dell Technologies
- Western Digital
- MediaTek Inc.
- NetApp Inc.
- Intel Corporation
Recent Developments
- In October 2021, Ericsson partnered with Singtel, a leading communications technology group in Singapore. This partnership would help accelerate 5G adoption across multiple industries and power industry partnerships to develop and deploy advanced 5G Data Storage solutions in Singapore.
- In June 2021, Samsung Electronics announced the release of a multi-chip package (MCP) memory product for use in 5G smartphones. It combines high-performance DRAM and NAND flash memory in a single package. This is poised to increase the company’s share in the 5G Data Storage Market.
- In November 2020, Micron Technology announced the release of a 176-layer 3D NAND flash memory capable of serving 5G smartphone and automotive applications. This would further drive the demand for 5G Data Storage boosting the market growth.
Relevant Report Titles:
Report
Code: ITR 0049
Report
Code: ITR 0165
Report Code: ESR 0601
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