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Next-Generation Data Storage Market to Grow by USD 29.2 Billion from 2024-2028, Driven by IoT and Big Data Demand, AI-Powered Report- Technavio

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NEW YORK, Sept. 10, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global next-generation data storage market size is estimated to grow by USD 29.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.08% during the forecast period. Growing demand for iot and big data operations is driving market growth, with a trend towards software-defined storage. However, high operating expenses for vendors poses a challenge. Key market players include Cloudian Inc., DataDirect Networks Inc., Dell Technologies Inc., Drobo Inc., Furukawa Electric Co. Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Inspur Group, International Business Machines Corp., Micron Technology Inc., NetApp Inc., Netgear Inc., Nutanix Inc., Oracle Corp., Pure Storage Inc., Quantum Corp., Samsung Electronics Co. Ltd., Scality Inc., Toshiba Corp., and Western Digital Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Next-Generation Data Storage Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.08%

Market growth 2024-2028

USD 29.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

Europe at 33%

Key countries

US, China, UK, France, and Japan

Key companies profiled

Cloudian Inc., DataDirect Networks Inc., Dell Technologies Inc., Drobo Inc., Furukawa Electric Co. Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Inspur Group, International Business Machines Corp., Micron Technology Inc., NetApp Inc., Netgear Inc., Nutanix Inc., Oracle Corp., Pure Storage Inc., Quantum Corp., Samsung Electronics Co. Ltd., Scality Inc., Toshiba Corp., and Western Digital Corp.

 

Market Driver

Next-Generation Software Defined Storage (SDS) is a modern approach to enterprise data storage that separates software services, such as data administration, safety, and input/output capabilities, from hardware services. This separation enhances infrastructure flexibility, scalability, and automation capabilities. SDS also pools resources, abstracts hardware, and automates management, while supporting legacy applications, big data analytics, and cloud-based data apps. Vendors like EMC, NetApp, and IBM offer SDS-enabled infrastructure, making it a cost-effective alternative to reconfiguring existing arrays. Adopting new SSD arrays is more affordable than upgrading existing ones. SDS is increasingly essential due to the growing need for efficient data storage. 

The Next-Generation Data Storage Market is experiencing significant growth due to the exponential increase in digital data production from mobile devices, smart wearables, connected devices, and the Internet of Things. With the rollout of 5G technology, faster data transfer and lower latency are becoming essential for data-driven applications, analytics, and automated systems. The expansion of e-commerce, banking services, financial services, and online shopping is leading to massive amounts of less structured data. Security breaches, configuration errors, and poor user rights pose serious data security issues, making cloud storage and server services increasingly popular. Higher storage capacity, scalability, and flexibility are key requirements for large-scale industries handling corporate information, patient information, and financial data. The market is responding with high-speed data storage solutions, automatic cloud backups, and ransomware attack protection. The industry is poised for continued expansion as the world becomes more digitized. 

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 Market Challenges

Next-generation data storage market requires customized solutions based on end-user needs, resulting in costly research and development processes. Cloud service providers face demand fluctuations due to consumer trends, leading to potential oversupply or shortage situations. Complexity in designing next-generation storage solutions also poses a challenge to market growth. Vendors aim to align production with revenue, but unexpected changes in demand can disrupt manufacturing costs.The Next-Generation Data Storage Market is facing numerous challenges in today’s business landscape. Compliance with data protection regulations is a major concern for businesses, especially those in the BFSI, manufacturing, and consumer goods sectors. Data centers need to store vast amounts of data for cloud computing, big data, AI, machine learning, and social media, requiring efficient and secure storage solutions. Cyber threats such as malware, ransomware, viruses, worms, botnets, spam, spoofing, phishing, hacktivism, and state-sanctioned cyberwarfare pose significant risks to data integrity and privacy. Flash memory and HDDs from non-volatile manufacturers are crucial for addressing latency issues in mobile payments and tablets/laptops. On-premises storage systems must contend with FOBS systems and the need for high-performance, low-latency solutions. The market must adapt to these challenges to meet the evolving needs of businesses. PAC Storage (US) and other leading players are investing in advanced technologies to ensure secure, efficient, and cost-effective data storage solutions.

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Segment Overview

This next-generation data storage market report extensively covers market segmentation by

Application 1.1 SAN1.2 NAS1.3 DASDeployment 2.1 On-premise2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 SAN- A Storage Area Network (SAN) is a dedicated high-speed network that connects next-generation storage devices to multiple servers. It moves data from the common user network and organizes it into an independent high-speed network, allowing each server to access storage devices. Enterprises are the primary adopters of SAN storage due to its better flexibility, availability, and performance compared to Direct Attached Storage (DAS) or Network Attached Storage (NAS). SAN is a local area network designed for handling large data volumes. It supports data storage, retrieval, and replication using high-end servers and multiple disk arrays. Vendors like Dell Technologies, Hewlett Packard Enterprise, and IBM offer SAN equipment, with costs ranging from hundreds to thousands of dollars. SAN solutions come in two types: Fibre Channel (FC) for mission-critical applications and iSCSI for IP networks. SAN offers advantages such as storage virtualization, high-speed disk technologies, centralized backup, and dynamic failover protection. The construction of data centers in developing countries is increasing, driving the adoption of SAN storage arrays. SAN solutions include Virtual SAN, Unified SAN, and Converged SAN, each offering unique benefits. Virtual SAN is implemented on a hypervisor, providing ease of management and scalability. Unified SAN exposes file and block storage through a single device. Converged SAN uses a common network infrastructure for different networks and keeps it separate from Ethernet networks.

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Research Analysis

The Next-Generation Data Storage market is experiencing exponential growth due to the growth in data production from mobile devices, smart wearables, and connected devices. With the rollout of 5G technology, faster data transfer and processing speeds are enabling new applications in e-commerce, mobile payments, and cloud computing. Smart technologies and automated systems are generating massive amounts of data, leading to an increased demand for efficient and secure data storage solutions. Security breaches and cyber threats are major concerns, driving the need for advanced encryption and data protection technologies. Cloud storage and data centers are becoming the go-to solutions for businesses and individuals seeking cost-effective and scalable storage solutions. Big data, analytics, AI, and machine learning are driving the need for high-performance storage solutions with low latency, such as Flash memory and non-volatile manufacturers. Social media, healthcare, and other data-intensive industries are also fueling the growth of the Next-Generation Data Storage market. HDDs continue to dominate the market due to their affordability and high storage capacity, but Flash memory is gaining popularity due to its faster read and write speeds. Distributed denial-of-service attacks and other cyber threats are also pushing the market towards more secure storage solutions. Overall, the Next-Generation Data Storage market is poised for significant growth in the coming years, driven by the increasing demand for efficient, secure, and scalable storage solutions for data generated by mobile devices, smart technologies, and other digital applications.

Market Research Overview

The next-generation data storage market is experiencing exponential growth due to the increasing production of digital data from mobile devices, smart wearables, connected devices, and the implementation of 5G technology. The expansion of e-commerce, smart technologies, and automated systems is also contributing to the industry’s growth. However, this growth brings new challenges such as security breaches, configuration errors, poor user rights, and data security issues. Large-scale industries, including healthcare, banking services, and financial services, generate vast amounts of less structured data that require scalable and flexible storage solutions. The healthcare sector, in particular, deals with sensitive patient information, making data protection and compliance essential. Cloud storage and server services are popular solutions for managing data, but they come with their own set of challenges, including data transfer, backup, and high-speed data storage. Ransomware attacks and other cyber threats pose significant risks, making data security a top priority. Direct-attached storage, network-attached storage, and storage area networks are on-premise solutions, while cloud, hybrid, and IT specialists offer installation and configuration services. The use of databases in retail, healthcare, and telecom companies, as well as in data centers, is increasing, making data security and compliance critical. The rise of mobile payments, cloud computing, big data, AI, machine learning, social media, and the Internet of Things is generating even more data, requiring new and innovative storage solutions to keep up with the demand. The market is expected to continue expanding as businesses and individuals seek to manage and protect their digital assets.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationSANNASDASDeploymentOn-premiseCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Technology

VibeBeats Launches AI-Powered Music Streaming Service for Businesses globally

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Vibebeats AI gives cafés, gyms, retailers, bars and hotels fully licensed, AI-curated streaming music for business from any phone, tablet or browser — no hardware, no lock-in contracts, no licensing paperwork — from A$29 a month with a 7-day free trial.

BRISBANE, Australia, July 24, 2026 /PRNewswire-PRWeb/ — VibeBeats Launches AI-Powered Music Streaming Service for Businesses globally

VibeBeats gives venues fully licensed, AI-curated Music at a fraction of the cost — one app, one licence, one platform.

Vibebeats AI gives cafés, gyms, retailers, bars and hotels fully licensed, AI-curated streaming music for business from any phone, tablet or browser — no hardware, no lock-in contracts, no licensing paperwork — from A$29 a month with a 7-day free trial.

Most venues playing music through consumer apps are doing it on the wrong licence. VibeBeats, an Australian-built, AI-powered streaming music for business platform, has launched across Australia and worldwide to fix that — turning any phone, tablet or browser into a fully licensed venue sound system in under five minutes. One agreement covers commercial performance rights across OneMusic and APRA AMCOS in Australia, and ASCAP, BMI, PRS and other rights bodies internationally — the same platform serving a café in Melbourne or a gym in London.

The “Spotify for business” that actually exists

Every month, thousands of venue owners worldwide search for “Spotify for business” — a product that doesn’t exist. Consumer streaming accounts are licensed for personal use only, leaving businesses that play them exposed under copyright law in Australia and virtually every other market. VibeBeats fills that gap: a business music streaming service where the commercial music rights are handled under one agreement — no separate music licence for business paperwork to manage.

“The number one thing we see is venue owners assuming it’s fine to play their personal Spotify account in the café — most don’t realise a licence fee even applies,” said Damien King, founder of VibeBeats. “It’s not bad intent. Licensing is complex, and when you’re running a small business there are a hundred competing priorities. VibeBeats solves it with one app, one licence, one platform.”

What VibeBeats delivers

Fully Licensed for Commercial Use — one agreement covers the rights that would otherwise involve OneMusic, APRA AMCOS, ASCAP, BMI, PRS and more.No Hardware Required — any phone, tablet or browser becomes the venue sound system — set up in under five minutes.AI-Curated Background Music for Business — stations matched to venue type and time of day, from morning coffee trade to peak gym floor to late-night bar.Smart Scheduling — playlists by daypart, with music that keeps running through connection drops.Multi-Venue Dashboard — manage every location from a single account.Simple Pricing — from A$29 per month per venue with a 7-day free trial — no lock-in contracts.

Pricing and availability

VibeBeats is available now from $29AUD/$20US per month per venue, and globally, with a 7-day free trial at vibebeats.ai. Purpose-built stations are available for cafés, gyms, retail and in-store environments, bars and hotels.

About VibeBeats

VibeBeats is an AI-powered commercial music streaming platform for businesses, offering direct-licensed music for cafés, restaurants, bars, retail stores, gyms and hotels. One agreement covers commercial performance rights that would otherwise involve PROs, OneMusic, APRA AMCOS, ASCAP, BMI, PRS and more. Australian-built and available globally, VibeBeats AI streams to any device with no proprietary hardware required. Learn more at vibebeats.ai.

VibeBeats is not affiliated with Spotify.

Media Contact

Damien King, Vibebeats AI, 61 0408009067, hello@vibebeats.ai, https://vibebeats.ai

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Inside information: Valmet initiates a strategic review to evaluate a potential separation of its two segments

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Valmet Oyj’s stock exchange release (inside information) on July 24, 2026 at 9.01a.m. EEST 

ESPOO, Finland, July 24, 2026 /PRNewswire/ — The Board of Directors of Valmet Oyj (“Valmet” or the “Company”) has decided to initiate a strategic review to evaluate a potential separation of its two core businesses, Biomaterial Solutions and Services, and Process Performance Solutions, into two standalone publicly listed companies. The review will focus on assessing whether a separation of the two businesses and their operation as separately listed companies on Nasdaq Helsinki would create additional value for shareholders compared with the current combined structure.

Both Valmet’s core businesses report as separate segments and they have grown into large, mostly independent profitable businesses, each with strong market positions and scale that allow them to succeed independently. With the recent completion of the Severn acquisition taking Process Performance Solutions to approximately EUR 1.7 billion in annual net sales and the renewed operating model now firmly in place, the Board believes this is the right time to assess whether a separation would unlock shareholder value by enabling each business to better realise its full potential.

The Board also notes that the two core businesses operate relatively independently as they serve mainly different customer industries, exhibit distinct business drivers, and have different capital allocation profiles. Biomaterial Solutions and Services is a global technology and lifecycle services business focused on the pulp, board, paper, tissue and energy industries, where its competitive advantage is anchored in a vast installed base, advanced technology, global presence, strong customer references and global services penetration. Process Performance Solutions is a mission-critical automation and flow control business serving a diversified set of industries. Over the past decade, it has evolved from a business primarily focused on pulp and paper into a diversified industrial platform, with close to 70 percent of net sales generated from other industries today.

Based on the Board’s initial assessment, a separation would allow each business to pursue sustainable profitable growth opportunities more independently and efficiently, with the potential for sharper management focus, greater agility, more tailored capital allocation, and more flexible access to external capital to support both organic and inorganic growth. The Board will also assess whether, if implemented, a separation would improve transparency, simplify governance, and allow capital markets to better recognize the full value of both businesses.

Pekka Vauramo, Chair of the Board, said:
“The Board continuously evaluates how to create the greatest long-term value for Valmet’s shareholders. Today, Valmet consists of two strong businesses with distinct markets, growth opportunities and capital allocation needs. Through this review, we will assess whether they can create more value as independent companies than they can together. We will only proceed with a separation if we conclude after detailed analysis that separation is clearly in the best interests of our shareholders.” 

Thomas Hinnerskov, President and CEO of Valmet, said:
“Both of our businesses are well positioned, with strong customer relationships and market positions, as well as talented employees. The review reflects the strength and maturity of both businesses, which we have built through strong execution, organic growth and strategic investments into sizeable and successful operations with the scale, capabilities and opportunities to create further value both together and, potentially, as independent companies. This review does not change our commitment to our customers or our strategy. It is a priority for us to preserve the strength of our full offering and the value our customers gain from services, automation and technology working together. Throughout the process, our focus remains on serving our customers and delivering value for their success.”

Although the strategic review has been initiated, there is no guarantee that the review will result in any transaction, including a separation. The Board will only execute or recommend changes to the Group’s structure if clear evidence of enhanced shareholder value creation can be attained. Valmet will provide an update on the review latest in connection with the publication of its full-year 2026 results.

Further information, please contact:

For investors: Pekka Rouhiainen, VP, Investor Relations, Valmet, tel. +358 10 672 0020

For media: Valmet Communications, media@valmet.com

VALMET

Katri Hokkanen
CFO

Pekka Rouhiainen
VP, Investor Relations

DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com

Valmet is a global technology leader in serving process industries. We work with our customers throughout the lifecycle, delivering cutting-edge technologies and services, as well as mission-critical automation and flow control solutions. Backed by more than 225 years of industrial experience and a global team of 18,500 professionals close to customers, we are uniquely positioned to transform industries toward a regenerative tomorrow.

In 2025, Valmet’s net sales totaled approximately EUR 5.2 billion. Our head office is in Espoo, Finland, and we have experts in approximately 40 countries around the world. Valmet’s shares are listed on Nasdaq Helsinki.

Follow us on valmet.com | X | LinkedIn | Facebook | YouTube | Instagram |

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Securitas AB Interim Report Q2 2026 | January-June

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STOCKHOLM, July 24, 2026 /PRNewswire/ — 

APRIL–JUNE 2026

Total sales MSEK 37 843 (38 564)Organic sales growth 0 percent (5)Adjusted organic sales growth, 3 percent*Real sales growth within technology and solutions 5 percent (4)Operating income before amortization MSEK 2 824 (2 798)Operating margin 7.5 percent (7.3)Adjusted operating margin, 7.6 percent (7.5)*Items affecting comparability (IAC) MSEK –46 (–166) Earnings per share, SEK 2.88 (2.56)Earnings per share before IAC, SEK 2.94 (2.79)Cash flow from operating activities 87 percent (106)

JANUARY–JUNE 2026

Total sales MSEK 74 054 (78 170)Organic sales growth 0 percent (4)Adjusted organic sales growth, 2 ­percent*Real sales growth within technology and solutions 4 percent (5)Operating income before amortization MSEK 5 283 (5 323)Operating margin 7.1 percent (6.8)Adjusted operating margin, 7.3 ­percent (7.1)*Items affecting comparability (IAC) MSEK 138 (–243) whereof MSEK 213 (–5) related to divestitures Earnings per share, SEK 5.68 (4.86)Earnings per share before IAC, SEK 5.40 (5.15)Cash flow from operating activities 65 percent (56)Net debt/EBITDA ratio 2.2 (2.4) 

*A new key ratio, operating margin adjusted for the government business within SCIS in the process of being closed down, was added as of the second quarter 2025. A new key ratio, organic sales growth adjusted for the same business, was added as of the third quarter 2025. Refer to note 5 for further information.

Comments from the President and CEO

“Continued profitability improvement”

Organic sales growth in the second quarter, adjusted for the close-down of the SCIS government business, was 3 percent. Organic sales growth in North America was supported by both the Guarding and Technology business units, while active portfolio management had a hampering effect on organic sales growth in Europe. 

Real sales growth in technology and solutions reached 5 percent in the second quarter, supported by good performance in Technology in North America. Commercial activity remained healthy in the global technology business with strong growth in installation order intake and backlog.

We execute on our strategy with the share of technology and solutions increasing across all segments but we are not fully satisfied with the overall growth. We have built a strong and differentiated technology-led offering and we are intensifying our efforts to commercialize the capabilities we have built.

We delivered an improved adjusted operating margin in the second quarter, reaching 7.6 percent (7.5), driven by both the technology and solutions and the security services business lines. Operating income increased 3 percent and earnings per share 7 percent. For the first six months earnings per share increased 11 percent.

Cash generation was good, cor­re­spond­ing to 87 percent (106) of oper­at­ing income in the quarter, and 65 per­cent (56) for the first six months of the year. The net debt to EBITDA ratio was 2.2 (2.4).

THE TRUSTED PARTNER IN INTELLIGENCE-LED SECURITY

Our recently announced 2030 strategy positions Securitas as the trusted partner in intelligence-led security, combining global presence and deep security expertise with advanced data, analytics and technology. By leveraging actionable risk intelligence and a more consultative approach, we aim to move further up the value chain, delivering proactive, insight-driven security and strengthening our role as a strategic advisor to clients. In an increasingly complex risk environment, growing demand for professional security ­ser­vices supports our continued growth and competitive position.

The close-down of the SCIS govern­ment business is progressing accord­ing to plan and is expected to be concluded by year-end. As no further activities remain, the strategic as­sess­­­ment program was concluded in the second quarter of 2026.

The shift toward technology and solutions continues to drive prof­itabil­ity improvements. We are also strength­en­ing the performance of our security services business and, as of the second quarter of 2026, have completed portfolio management actions related to underperforming contracts in Europe. Going forward, portfolio optimization will continue as part of normal business operations, with a sustained focus on contract profitability.

CREATING LONG-TERM SHAREHOLDER VALUE

In conjunction with the launch of our strategy, we have updated the Group’s financial targets for the period through 2030. The revised targets include a new headline target of achieving 10 percent average annual earnings per share growth over a business cycle, alongside targets for cash flow, leverage and dividend policy. With a strong focus on quality and innovation, we are accelerating our transformation and remain confident in our ability to deliver sustainable earnings growth and create long-term shareholder value.

Magnus Ahlqvist
President and CEO

PRESENTATION OF THE INTERIM REPORT

Analysts and media are invited to participate in a telephone ­conference on July 24, 2026, at 9.30 a.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Matteo Dall’Ora will present the report and answer questions. The ­telephone conference will also be audio cast live via Securitas’ website www.securitas.com

To follow the audio cast of the telephone conference via the web, please follow the link
www.securitas.com/en/investors/financial-reports-and-presentations/

A recorded version of the audio cast will be available at www.securitas.com/en/investors/financial-reports-and-presentations/
after the ­telephone conference.

For further information, please contact:
Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443

ABOUT SECURITAS

Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, ­combined with an innovative, holistic approach, we’re transforming the security ­industry. With approximately 322 000 employees in 44 markets, we see a ­different world and ­create sustainable value for our clients by protecting what matters most – their people and assets.

Group financial targets

Securitas has the following financial targets:

Average annual earnings per share growth of 10 percent over a business cycle, excluding items affecting comparability and adjusted for changes in exchange rates, with a >10 percent operating margin ambition long-termOperating cash flow of 80–90 percent of operating income before amortizationNet debt to EBITDA below 2.5xDividend policy of 50–60 percent of annual net income over a business cycle, with excess capital returned to shareholders once stra-tegic growth priorities are met

Securitas AB (publ.)
P.O. Box 12307, SE-102 28 Stockholm, Sweden
Visiting address:
Lindhagensplan 70
Telephone: +46 10 470 30 00
Corporate registration number: 556302-7241

www.securitas.com

This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above,
at 8.00 a.m. (CEST) on Friday, July 24, 2026.

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