In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
August 2021- NVIDIA announced that it has made NVIDIA Base Command Platform, a hosted AI development hub available in North America. It provides an instant access to powerful computing infrastructure wherever their data resides.
June 2021- Hewlett Packard Enterprise announced its breakthrough HPE GreenLake cloud platform for delivering on-premises offerings for scalable and secure cloud services.
Ans: The major factors driving market growth are mounting need among organizations to refresh their storage architecture, and increasing volumes of data generated.
Ans: The market is anticipated to attain a CAGR of ~27% over the forecast period, i.e., 2022 – 2030.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the high adoption of latest technologies in the region, especially in the region.
Ans: The major players in the market are Intel Corporation, NVIDIA Corporation, IBM Corporation, Cisco Systems, Inc., Dell Technologies, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by storage system, storage architecture, end user, and by region.
Ans: The BFSI segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
Ans: Growing concerns associated with data privacy are estimated to hamper the market growth.