The increasing amount of information stored in digital format is fuelling demand for storage products. Be it digital audio, video, animation or unstructured data, storage requirements of the enterprise and media industries is escalating due to the flexibility and ease offered to users to access data. To optimize this opportunity, vendors of digital media storage systems are persistently working towards offering more reliable, scalable and high throughput products.
New analysis from Frost & Sullivan (digitalmedia.frost.com), World Digital Media Storage Markets, finds that market earned revenues of over $24.3 billion in 2006 and estimates this to reach $49.3 billion in 2012.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the World Digital Media Storage Markets, then send an email to Mireya Castilla, Corporate Communications, at mireya.castilla[.]frost.com, with your full name, company name, title, telephone number, city, state, country and email address. Upon receipt of the above information, an overview will be sent to you by email.
One of the key trends in the industry has been the migration of content from tape to disk due to the reduced prices of the latter and its enhanced performance and storage capacities. However, the transition from analog to digitized content is bound to happen gradually, as a significant portion of the industry continues to maintain very large video tape based libraries and few have complete digital workflow processes in place.
On the other hand, enhanced video services expect to underscore the need for high performance storage systems.
"Digital assets such as video are large files and need specialized and sophisticated equipment to handle such content throughout its life cycle," says Frost & Sullivan Senior Analyst Zippy Aima. "As IT departments are faced with the challenge of storing this vast amount of content in a cost effective fashion by deploying products that can not only preserve information but also allow fast access and retrieval, they will look for advanced, more secure and flexible storage systems."
For now, the storage market is poised to witness double-digit growth for the period spanning 2007-2013. The enterprise market for storage is stable and will witness modest growth rates in comparison to media and entertainment which is currently a hot spot for storage vendors.
"Overall, rapid changes in technology formats have resulted in the need for increased storage capacity, intelligent storage management platforms, change in the form factor, lower prices and enhanced performance," notes Aima. "These factors coupled with new delivery mechanisms for content distribution will drive growth and demand for storage technology and products in this mature market."
North America continues to be the dominant market for most of the storage vendors but with the penetration of digital technology in other regions such as Europe, Middle-East and Africa (EMEA) and Asia-Pacific, vendors will see a boost in the revenues generated globally.
World Digital Media Storage Markets is part of the Digital Media Growth Partnership Services program, which includes research in the following markets: content protection and digital rights management, digital asset management, nonlinear editing, video encoding, video streaming, video servers, broadcast switchers and marketing process optimization. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
About Frost & Sullivan
Frost & Sullivan, the Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.