Market Trends of Europe Next Generation Storage Industry
IT and telecom segment is expected to grow at a higher pace.
- In Europe Next Generation Storage Market, It and Telecom segment is expected to show highest growth on the back of increasing Volume of Digital Data will drive the market. European Govt. regulates technology, and organizations in the EU are investing to become more digital. According to EIB's (Europen Investment Bank) Investment Survey (EIBIS), 46% of businesses claimed to have taken steps towards digitalization. A 42.39 million USD agreement between the EIB and Ormazabal will help the Basque industrial company develop its investment strategy for R&D operations in Spain during the subsequent four years.
- France, Germany, the Netherlands, and the UK are Europe's most significant data center markets, showing a high potential for Storage markets in these countries. Foreign players in data security are making investments. Chinese social media company TikTok is looking for a way to expand its European data storage and announced opening data centers in Europe.
- Switzerland bank introduced Alpian App, developed by Temenos, for core banking and payments solutions. The app will quickly assemble banking capabilities and scale them by business demand, enabling it to expand profitably while providing top-notch customer service.
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Network Attached Storage (NAS) to Gain significant market share
- Demand for telematic services has grown dramatically, urging users to adopt Network Attached Storage (NAS). The Network Attached Storage (NAS)'s speed, scalability, and security features play a crucial role in supplying the infrastructure and services needed. Almost 45% of IT spending on cloud-based solutions will replace traditional ones by 2024 for business process outsourcing, infrastructure software, application software, and system infrastructure.
- Eurostat's report confirmed that although more than 98% of EU businesses with ten or more employees or collaborators have internet access, 41% use cloud services. This shows a high potential for cloud adaptation in the coming years. Moreover, the usage of cloud services is highest among large companies such as the information and communication industry and professional, technical, and scientific sectors.
- Microsoft announced the rollout of an EU Data Boundary solution for public and commercial customers in the European Union and planned to expand its data centers for its cloud services. Microsoft intends to construct data centers in more than 17 countries in Europe.
- European Union plans to create a computing infrastructure based on RISC-V instruction set architecture, for which it has announced an investment of at least 286 million. The project will target building high-performance computers based on RISC-V hardware and software.
- Google Cloud joined the European partner network, Catena-X Automotive Network Association. Through its data analytics and native integration of advanced AI technologies, and open source efforts, Google will help Catena-X to succeed in its mission to become a data-driven business.
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