The enterprise flash storage market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing penetration for digitization in the banking and IT sectors services. Moreover, rising demand for mega data centers is expected to propel the market growth.
Flash storage is also known as solid-stage drives (SSDs). It is a type of data storage technology that is based on high-speed and electronically programmable memory. It offers an alternative to hard disk drives (HDDs) or other media for storage. The enterprise flash storage solutions write data as well as perform random I/O operations at a high speed.
The enterprise flash storage solutions are utilized in various industry applications, majorly due to benefits such as accelerated application performance, future-proof infrastructure, improved performance, and capacity, among others. Enterprise flash storage offers several advantages over traditional spinning disk media. Flash storage facilitates radically faster data processing operations. It is also less prone to failure. Technological advancements in manufacturing have made it possible for all-flash storage arrays to hold more data per rack unit than HDDs.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing data generated by the enterprise, coupled with adoption of cloud technology is expected to drive the market growth during the forecast period.
- Growing awareness about its advantages such as power consumption, performance, scalability, and ease of management is anticipated to boost the market expansion.
- Over 71% of the organizations are expected to migrate to cloud data centers from on-premise data centers, by 2020, which in turn, is projected to push the market growth during the forecast period.
- Mission-critical applications such as real-time analytics and demanding database systems can be performed easily with enterprise flash storage systems, spurring the market growth.
- Virtual servers, financial systems, virtual desktop platforms, and data analytics applications collect a huge amount of data by use of enterprise flash storage system, driving the market growth during the forecast period.
- Ongoing developments in non-volatile memory express (NVME) is estimated to drive the market expansion in the coming years.
- High cost of enterprise flash storage can hinder the enterprise flash storage market growth.
- The COVID-19 pandemic surged the data consumption due to the lockdown, which is anticipated to positively influence the market growth.
- Increasing technological advancements led to the manufacturing of efficient devices, creating significant opportunities for the market expansion in the projected timeline.
Scope of Enterprise Flash Storage Market Report
The report on the global enterprise flash storage market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
|
Details
|
Report Title
|
Enterprise Flash Storage Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
Base Year
|
2020
|
Historic Data
|
2018–2019
|
Forecast Period
|
2021–2028
|
Segmentation
|
Types (All-flash Array and Hybrid Flash Array) and End-user Industries (IT & Telecom, BFSI, and Healthcare)
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
Key Players Covered in the Report
|
Pure Storage, NetApp Inc., Hewlett Packard Enterprise, Dell Technologies Inc, and Huawei Technologies Co., Ltd
|
Enterprise Flash Storage Market Segment Insights
All-flash array segment to account a considerable market share
In terms of types, the market is bifurcated into all-flash array ?and hybrid flash array?. The all-flash array segment is expected to account for a key market share during the forecast period. This type of flash storage can store multi-terabyte databases and deliver a read or write speed that is four times greater than HDDs.
IT & telecom segment to grow at a significant pace
Based on end-user industries, the market is segregated into IT & Telecom, BFSI, and Healthcare. The IT& telecom segment is expected to expand at a rapid pace owing to integration of smart manufacturing, remote inspection, and intelligent security protection technologies such as 5G and artificial intelligence (AI). These technologies are transforming the traditional support tools in the IT & Telecom sector to service innovation platforms, where data storage and processing volumes are expected from T-bit level to P-bit level.
Asia Pacific to dominate the market
On the basis of regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to increasing number of enterprises and international storage vendors. Growing adoption of cloud computing is driving the enterprise flash storage market growth. India is one of the prominent cloud services market in the the Asia Pacific.
Segments
The global enterprise flash storage market has been segmented on the basis of
Types
- All-flash Array
- Hybrid Flash Array
End-user Industries
- IT & Telecom
- BFSI
- Healthcare
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the enterprise flash storage market include Pure Storage, NetApp Inc., Hewlett Packard Enterprise, Dell Technologies Inc, and Huawei Technologies Co., Ltd.