MarketsandMarkets ™ forecasts that the global next‑generation data storage market will grow from $70.27 billion in 2026 to $99.48 billion by 2032, a compound annual growth rate (CAGR) of 6.0 % over the forecast period. The outlook highlights strong demand from enterprises adopting AI, cloud, and big‑data workloads, and it signals where storage‑focused vendors may see the most activity.
Market Outlook and Forecast Highlights
The report “Next‑Generation Data Storage Market – Global Forecast to 2032” provides a 308‑page analysis with 150 tables and 80 figures. It lists a 2026 market size of $70.27 billion and projects a $99.48 billion valuation for 2032, reflecting a 6.0 % CAGR. By region, North America held a 43.1 % revenue share in 2025, making it the largest market. The enterprise end‑user segment is expected to retain the highest share throughout the forecast, driven by continued generation of business‑critical data.
Storage Technology Segments Driving Growth
Solid‑state drives (SSDs) dominate the storage‑medium landscape, accounting for 60.0 % of the market in 2025. Within storage architecture, file‑ and object‑based solutions are slated to post the highest CAGR at 6.5 % during the period. Hybrid deployment modes are projected to experience the fastest growth among deployment options. Network‑attached storage (NAS) is highlighted as the segment with the highest CAGR, reflecting enterprise demand for centralized, easily accessible storage that supports collaborative work, remote access, and cloud integration.
Enterprise Adoption Trends
Enterprises are the primary end‑user, expected to hold the largest market share as they modernize IT infrastructure to handle AI, cloud computing, and big‑data analytics workloads. The report links this demand to rising volumes of structured and unstructured data from connected devices, smart technologies, and real‑time business applications. Investments in hyperscale and colocation data centers, as well as a focus on reducing operational downtime and improving storage efficiency, are cited as accelerators for next‑generation storage adoption.
Key Takeaways
- The next‑generation data storage market is projected to reach $99.48 billion by 2032, up from $70.27 billion in 2026 (CAGR 6.0 %).
- SSDs held a 60.0 % share of the storage‑medium market in 2025, while file‑ and object‑based storage is expected to grow at the highest 6.5 % CAGR.
- North America accounted for 43.1 % of market revenue in 2025, and the enterprise segment is forecast to retain the largest share throughout the forecast horizon.
TechInsyte's Take
The modest 6 % CAGR suggests steady, rather than explosive, expansion, giving CIOs time to align storage refresh cycles with broader cloud and AI initiatives. Buyers should monitor the rapid uptake of NAS and hybrid deployments, as these architectures may offer the most flexible path to scaling storage capacity while supporting distributed workloads.
Source: PRNewswire
