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Global Enterprise Flash Storage Market Competitive Landscape Analysis Report 2021-2028

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Sheryl Dias
Global Enterprise Flash Storage Market Competitive Landscape Analysis Report 2021-2028

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.

 

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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.

 

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.

 

Compititive 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.

 

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GROWTH MARKET REPORTS provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GROWTH MARKET REPORTS has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.

 

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