AllFlash Array Industry Size, Revenue, Growth Rate Analysis and Forecast 2023
Market Synopsis
The new research report by Market Research Future (MRFR) emphasizes that the global all-flash array market 2020 is poised to obtain a considerable market valuation from USD 5.78 billion in 2018 up to USD 16.21 billion by 2024, at a substantial 20.56% CAGR through the review period.
Competitive Landscape
The top market players identified by MRFR in the global all-flash array market are Kaminario (US), Hewlett Packard Enterprise (US), Dell Technologies (US), NetApp, Inc. (the US), IBM Corporation (US), Pure Storage (US), Huawei Technologies Co. Ltd (China), Hitachi, Ltd (Japan), Western Digital Corporation (US), and Micron Technology, Inc. (US).
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Drivers and Restraints
The all-flash array market trends likely to drive the growth of global data creation and consumption has augmented significantly in past few years, owing to which demand for easy memory access in forms including products as well as service is expanding. This trend is expected to fuel the all-flash array market share. The government, enterprise, and businesses across the globe are moving to cloud, and this requires a amount of data centers to be operated for the increasing demand, which in turn is boosting the all-flash array market size. The increasing adoption of cloud is driving the need for data centers, in turn, creating the demand for all-flash array systems. Growing adoption of both public and private cloud is motivating the demand for such solution providers, and enterprises are even moving their process critical workloads onto the cloud.
Market Segmentation
The global AllFlash Array Industry outlook reveals that the market has been segmented based on storage patterns, flash media, end-user, and region.
Based on the storage pattern, the all-flash array market has been segmented into object, file, block. All-flash array market for block storage is anticipated to dominate over the forecast period owing to its varied end-use applications that require multiple transactions in real time. Furthermore, benefits such as increased scalability, built-in data protection, ease of management, and high performance presented by block storage make it the most favored storage solution across the globe.
Based on the flash media, the market has been bifurcated into custom flash modules (CFM) and solid-state drives (SSD). The SSD segment led the market in 2018. On the other hand, the CFM segment is expected to register the highest CAGR during the forecast period owing to the benefits it provides, such as superior space and power efficiency, improved capacity density, competitive pricing, and flexibility.
On the basis of the end-user, the all-flash array market has been segmented into healthcare, BFSI, media and entertainment, commercial institutions, telecom, government, and others. The BFSI segment is estimated to dominate the all-flash array market over the review period owing to the growing adoption in the developing regions that are increasingly investing in upgrading their existing traditional storage solutions.
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Regional Overview
The geographical overview of global all-flash array market has been conducted in four significant regions, specifically North America, the Asia Pacific, Europe, and the rest of the world (comprising Latin America and the Middle East and Africa).
North America is one of the most important regional markets across the globe, driven by the established end-use sectors, increased spending on IT infrastructure, and others.
Asia-Pacific is anticipated to dominate the all-flash array market from 2019 to 2024 owing to the increasing automation across different industry verticals that demand of all-flash array that offers benefits such as data computing, processing, and storage. Furthermore, the rise in the number of data centers in the region, coupled with the availability of low-cost raw materials, promote the mass production of an inexpensive all-flash array in the region.
The Middle East is projected to register the highest CAGR in the all-flash array market during the forecast period owing to the rising demand for data storage to adopt advanced operations through data analytics across end-use verticals such as energy and media and entertainment. Moreover, growing demand for all-flash array from the oil & gas industry for advanced data computing, processing, and storage solutions to analyze seismic data is expected to boost the demand for all-flash array in the region.
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