According to the recent McKinsey Global Survey of executives, companies have accelerated the digitization of their customer and supply-chain interactions and their internal operations by three to four years. Additionally, the share of digital or digitally enabled products in their portfolios has accelerated by seven years.
As a consequence, data storage has become a key component for businesses around the world. One of the current trends in the data storage market is that it is widely popular and in-demand due to the rising storage capacity in terms of Terabyte and Petabyte of Big Data generated by organisations.
According to a recent report from IndustryARC, “The market for Data Storage is forecast to reach $4.2 billion by 2026, growing at a CAGR of 32.3% from 2021 to 2026 due to the rapid increase in consumer and machine data developments. The market will be driven by the increasing need for smartphones, Laptops, PCs, and online storage software in small and large enterprises. The Data Storage Market is expected to grow due to the high adoption of cloud storage technology and external data storage devices.”
In the Middle East and Africa region, a similar surge in demand for storage technology products is being witnessed. According to Sanjay Naithani, General Manager – MEP & Africa for Hitachi Vantara, “The mission of Hitachi since its establishment in 1910 has been to develop cutting-edge technology for social infrastructures to improve quality of life and contribute to society. We aim to provide solutions that help solve our growing global challenges in a rapidly changing market because this will bring the company closer to the customers and in line with society’s needs. In the Middle East, we keep investing in resources and efforts and follow the same strategy, staying close to our valued customers and partners.”
Hitachi Vantara storage solutions are the gold standard for high-performance data storage and trusted by top financial institutions and Fortune 500 companies. IDC data shows that the average knowledge worker spends 2.5 hours a day, roughly 30% of their time, searching for information. With 80% of corporate data being unstructured and growing by over 50% a year, it is the main reason why organisations need a fast and robust object storage architecture. Hitachi’s object storage architecture for handling large amounts of unstructured data using metadata algorithms is the USP of its’ data storage solutions.