Farmington, March 17, 2023 (GLOBE NEWSWIRE) -- The Global Solid-State Array Market Was Valued at USD 4.09 Billion In 2021 And Is Expected To Reach USD 14.38 Billion By 2030, at a CAGR Of 14.0% During The Forecast Period. The solid-state array market is growing because more and more people want faster and more efficient ways to store data. The huge amount of data that is created every day in the world has made it more important to find storage solutions that are more efficient and have a lot of space. This is driving the solid-state array market even more.
Solid-state arrays are likely to become more popular as workloads that need performance and data management services increase. Solid-state arrays have also become much more popular because they can be used as backup targets to cut down on the time it takes to do backups and recover data.
Market players are also interested in solid state arrays, which are like a shared storage device that stores data in blocks to improve performance. Solid-state array's benefits are now being seen in all primary storage workloads, which has led to a big rise in sales of solid-state array. The solid-state array market should also have more chances to grow because these devices are being used more and more in business applications.
Request Sample Copy of Report “Solid-State Array Market Size, Share & Trends Estimation Report By Type (MLC, eMLC, SLC), By Application (Enterprise, Personal Computers, Distribution and Retail Channel, Consumer Electronics, Telecommunication and Networking, Medical Equipment, Others), By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Industry Developments:
- In January 2022, Western Digital introduced the new Ultrastar Edge data center storage platform with solid state arrays that provide high-speed data access and advanced data management capabilities.
- In November 2021, Pure Storage announced a partnership with Equinix to bring solid state array technology to customers using Equinix's colocation data centers.
- In October 2021, Dell Technologies announced new PowerScale all-flash and hybrid storage arrays that use solid-state technology to deliver high-speed data access and improved performance to enterprise applications.
Market Dynamics:
Drivers:
More and more people are interested in high-performance computing. Solid-state arrays are becoming more common in high-performance computing systems because they can read and write data faster than traditional hard disc drives. As the demand for high-performance computing grows, so does the demand for solid-state arrays.
Cloud computing is becoming more common in many industries, and solid-state arrays are a great way to store data for cloud-based applications because they are easy to access and have low latency. As more businesses move to the cloud, the need for solid-state arrays is likely to grow.
Need for better data management: As companies make more and more data, the need for better ways to manage it grows. Solid-state arrays can make it easier to access and retrieve data, which makes them a good choice for companies that want to improve how they handle data.
AI and machine learning are gaining more and more attention. AI and machine learning apps need to be able to process a lot of data quickly. Solid-state arrays are good for this kind of work because they can quickly access data. AI and machine learning systems can use them to store data because of this.
Restraints:
Solid-state arrays tend to be more expensive than traditional hard disc drives, which could stop some industries from using them.
Solid-state arrays usually have less space for storing data than traditional hard disc drives, which could be a problem for organisations that need to store a lot of data.
Problems with compatibility: Some applications might not work with solid-state arrays, which could stop them from being used in some fields.
Challenges:
There is competition from other ways to store things: Solid-state arrays can be replaced by hard disc drives, tape storage, and the cloud. The challenge for sellers of solid-state arrays is to make their products stand out and show potential customers how valuable they are.
Integration with existing infrastructure: It can be hard to connect solid-state arrays to an organization's existing infrastructure, especially if the IT environment is complex.
Data security: Solid-state arrays can be hacked, and one of the biggest challenges for companies that use these systems is keeping data safe.
Regional Outlook:
During the time frame of the forecast, Asia-Pacific is expected to grow the fastest. Rising demand for mass storage devices in emerging economies like China and India is expected to drive the regional market. Growth in the region is also likely to be driven by factors like more industrialization, more cities, and a growing IT sector. Also, more money will be spent on data centres in Asia-Pacific, which should help the industry grow in the coming years. In 2015, more than 25% of the global revenue came from the North American solid state array market. This is because major manufacturers started using the technology early on, and there are a lot of key players in the United States. Since 2012, the United States has been a major consumer and producer of SSA products based on MLC flash memory chips, making it the largest segment.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 14.0% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 14.38 Billion |
| By Type | MLC, eMLC, SLC, Others |
| By Application | Enterprise, Personal Computers, Distribution and Retail Channel, Consumer Electronics, Telecommunication and Networking, Medical Equipment, Other |
| By Companies | Dell Technologies, Hewlett Packard Enterprise (HPE), Pure Storage, IBM, NetApp, Hitachi Vantara, Toshiba Memory Corporation, Kioxia Corporation, Cisco Systems, Fujitsu, Oracle Corporation, Huawei Technologies Co. Ltd., NEC Corporation, Lenovo, Western Digital Corporation |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
Dell Technologies, Hewlett Packard Enterprise (HPE), Pure Storage, IBM, NetApp, Hitachi Vantara, Toshiba Memory Corporation, Kioxia Corporation, Cisco Systems, Fujitsu, Oracle Corporation, Huawei Technologies Co. Ltd., NEC Corporation, Lenovo, Western Digital Corporation, and others.
By Type
- MLC
- eMLC
- SLC
- Others
By Application
- Enterprise
- Personal Computers
- Distribution and Retail Channel
- Consumer Electronics
- Telecommunication and Networking
- Medical Equipment
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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