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
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.
Solid-state Array Market Overview:
The growth of the solid-state array market is gaining momentum owing to the growing demand for faster and more efficient memory solutions. The huge amount of data generated in the world on a daily basis has increased the need for more efficient storage solutions with large storage capacity, which is further driving the solid-state array market.
Demand for solid-state arrays is expected to grow in order to address workloads that require performance and data management services. Additionally, utilizing solid-state arrays as backup targets to reduce backup and recovery windows is one of the factors that has significantly increased the adoption of solid-state arrays.
Solid state arrays, like a shared storage device that drives data storage in blocks to provide enhanced performance, are also attracting the attention of market players. The benefits of solid-state array are now gaining traction across all primary storage workloads, resulting in a significant increase in sales of solid-state array. Moreover, increasing demand for these devices in various enterprise applications is expected to provide more growth opportunities for the solid-state array market.
Solid-state Array market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Solid-state Array market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Solid-state Array market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Solid-state Array Market Dynamics and Growth Factors:
Expansion requirements for data storage:
Growing demand for high-capacity storage and storage devices is the major driver for the solid-state array market. Furthermore, the high usage of solid-state arrays in data centers for high-performance computing and big data workloads is a major factor driving the growth of the solid-state arrays market.
Big data, cloud computing, and the Internet of Things (IoT) are also likely to expand sales of solid-state arrays to some extent.
The Rise of Solid State Array Acceptance:
Solid state arrays (HDDs) are growing in popularity due to their advantages over traditional hard disk drives in terms of performance and reliability, thereby expanding the market size. They are used in a wide variety of products including storage systems, notebooks, and business servers.
HDD to SSD conversion:
The transition from HDDs to SSDs is accelerating due to falling prices, increasing capacities, and better performance characteristics of SSDs compared to HDDs, thereby expanding the overall solid-state array market size. On the other hand, high design cost is expected to act as a restraint for the growth of the solid state array market.
Furthermore, low environmental stability and rapidly changing technologies are some of the factors that may hamper the solid state array market. Furthermore, lack of device interoperability is likely to slow down the demand for solid-state arrays over the forecast period.
Top Key Players include in the Solid-state Array Market are
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.
The Solid-state Array market research report is categorized based on type, applications and region.
On the Basis of Type:
- Personal Computers
- Distribution and Retail Channel
- Consumer Electronics
- Telecommunication and Networking
- Medical Equipment
On the Basis of Region:
Geographically, the global Solid-state Array market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Solid-state Array region is dominating this market in the upcoming future.
Asia Pacific is expected to be the fastest growing region during the forecast period. The regional market is expected to be driven by rising demand for mass storage devices in emerging economies such as China and India. Factors such as increasing industrialization, increasing urbanization, and growing IT sector are also expected to drive growth in the region. Moreover, rising investments in data centers in Asia Pacific is expected to drive industry expansion in the coming years. The North American solid state array market accounted for more than 25% of the global revenue share in 2015 owing to the early adoption of technology by major manufacturers coupled with the presence of a large number of key players operating in the United States, making it the largest segment since the past few years (2012 ), we have been a major consumer and producer of SSA products based on MLC flash memory chips worldwide.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- The Netherlands
- Nordic Countries
- Benelux Union
- Rest of Europe
- Rest of Southeast Asia
- South Korea
- Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
High-performance computing is becoming more popular. Solid-state arrays are becoming more popular as a storage solution for high-performance computing systems because they can read and write data faster than traditional hard disc drives. As the need for high-performance computing keeps going up, the need for solid-state arrays keeps going up, too.
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 quick to access and have low latency. As more businesses move to the cloud, there will probably be more demand for solid-state arrays.
Need for better data management: As organisations create more and more data, the need for better data management solutions is growing. Solid-state arrays can make it easier to access and retrieve data, which makes them a good choice for companies that want to improve their data management.
AI and machine learning are becoming more popular. Applications that use AI and machine learning need to process a lot of data quickly. Solid-state arrays work well for these kinds of applications because they can access data quickly. This makes them a great way for AI and machine learning systems to store data.
High price: 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.
Compatibility problems: Some applications might not work with solid-state arrays, which could stop them from being used in some fields.
Competition from other storage solutions: Hard disc drives, tape storage, and cloud-based storage are all alternatives to solid-state arrays. The challenge for solid-state array vendors 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 complicated.
Data security: Solid-state arrays can be hacked, and keeping data secure is one of the biggest challenges for companies that use these systems.
Solid-state Array Market report scope
CAGR of 14.0% during the forecast period.
MLC, eMLC, SLC
Enterprise, Personal Computers, Distribution and Retail Channel, Consumer Electronics, Telecommunication and Networking, Medical Equipment, Others
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
2017 to 2022
2023 to 2030
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Solid-state Array market?
Who are the key vendors of the global Solid-state Array market?
What are the leading key industries of the global Solid-state Array market?
Which factors are responsible for driving the global Solid-state Array market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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