According to a new report, published by KBV research, The Global Next Generation Data Storage Market size is expected to reach $138.73 billion by 2032, rising at a market growth of 9.3% CAGR during the forecast period.
The next generation data storage landscape represents the shift from legacy magnetic and optical storage to advanced, scalable, and performance-optimized storage systems designed for modern digital workloads. This evolution is driven by the proliferation of digital data across industries, requiring high-speed access, scalable architecture, and resilient long-term retention.
The Business segment captured the maximum revenue in the Global Next Generation Data Storage Market by End-use in 2024, thereby, achieving a market value of $96.7 billion by 2032. The business end-use segment represents a major adoption area within the next generation data storage market, driven by the expanding need to manage, secure, and process vast volumes of structured and unstructured data across enterprises. Organizations operating in data-intensive environments increasingly rely on advanced storage architectures to support real-time analytics, artificial intelligence workloads, virtualization, and mission-critical applications.
The Magnetic Storage segment is experiencing a CAGR of 8.6 % during the forecast period. The magnetic storage segment continues to play a vital role in the next generation data storage market due to its strong suitability for large-scale data retention and long-term archival requirements. This storage technique is widely used in environments where cost efficiency, durability, and high storage capacity are essential considerations. Enterprises and institutions rely on magnetic storage systems for backing up vast volumes of data generated from enterprise applications, transactional systems, and compliance-driven record keeping.
The Local (on-premise) segment led the maximum revenue in the Global Next Generation Data Storage Market by Storage Type in 2024, thereby, achieving a market value of $63.5 billion by 2032. The local or on-premise storage segment remains a foundational component of the next generation data storage market, driven by organizations that require direct control over their data infrastructure. This storage type is widely adopted by enterprises that prioritize data security, regulatory compliance, and low-latency access for mission-critical applications.
The Direct-Attached Storage segment is growing at a CAGR of 8.5 % during the forecast period. The direct-attached storage segment represents a core component of the next generation data storage market, primarily characterized by storage devices that are directly connected to a single server or computing system. This storage system is widely used in environments that require high performance, low latency, and straightforward deployment without the complexity of shared network configurations.
The North America region dominated the Global Next Generation Data Storage Market by Region in 2024, and would continue to be a dominant market till 2032; thereby, achieving a market value of $49.5 billion by 2032. The Asia Pacific region is anticipated to grow at a CAGR of 10% during (2025 - 2032). Additionally, The Europe region would witness a CAGR of 8.9% during (2025 - 2032).
By End-use
By Storage Technique
By Storage Type
By Storage System
By Geography
Unique Offerings
