Future of Storage

The future of storage systems for data, at least for the next few years, will come down to either flash or hard drive systems. Each has its advantages, although flash systems are more popular and less expensive even if they are not as reliable in the long term. Which type of storage you choose will depend considerably on your needs.
Flash
Since flash systems are still the most popular, much of the innovation that is taking place is with this type of storage system. The use of 3D NAND technology has allowed flash drives to expand their storage considerably and it will continue to do so for the foreseeable future.
Another innovation is the Triple-Level Cell (TLC) which allows the storage cells to hold a range of voltages which increases the amount of information that can be stored. The layering of cells essentially doubles the capacity all in the same space for greater efficiency and a reduction of issues such as the read costs. While the physics associated with TLC are considerable, the potential is amazing in terms of just how much can be stored on a flash drive.
Errors are being reduced using Low Density Parity Check (LDPC) which means the encoded data is cleaner, more accurate, and easier to read all with fewer errors. Although LDPC was invented in the 1960s, the technology is finding new light thanks to innovation which has led to engineering challenges that have been overcome.
Hard Disks
Considering that amount of storage that is now available, the cost has been reduced considerably to help make this form of storage even more appealing. You can now purchase hard disks that have 6TB storage and above for a reasonable cost. Of course, the question becomes do you need 6TBs of storage for what you do.
Using Shingled Magnetic Recording (SMR) which allows the tracks to lap over each other without interference, more data can be stored in less physical space. If successful, it will lead to the Two-Dimensional Magnetic Recording (DMR) process that eliminates the noise from tracks next to each other for better recording. Another technique being developed is the Heat-Assisted Magnetic Recording (HAMR) in which the tracks themselves are heated up before data recording so that more information can be stored.
In addition, helium is being used to increase the overall capacity of the drives because it allows them to be placed closer together.
Future
Currently, there are no major storage systems apart from flash or hard disk that are being seriously developed in the foreseeable future. Naturally, it is safe to assume that some other type of storage system will be developed that overcomes the inherent limitations found in flash or hard disk so that even more information can be stored and retrieved.
The advantages of both systems are found in their reliability and decades of development which have managed to make the most out of technological advances. This means that if you are planning to store a considerable amount of data, you will need to examine both flash and hard disk so that you fully understand their limitations and potential.