All-Flash Array Market worth $17.8 billion by 2023 growing with a CAGR of 24.53%

The All-Flash Array Market was valued at USD 5.9 billion in 2018 and is expected to reach USD 17.8 billion by 2023, at a CAGR of 24.53% from 2018 to 2023. Major growth drivers are increasingly used in data centers. Further, factors such as flexibility, installation, maintenance, and size are also driving the AFA market. Moreover, increasing need for real-time data processing and increasing deployment of AFA storage in artificial intelligence (AI) and machine learning (ML) applications are expected to fuel the growth of the market in the coming years. Issues related to performance and drive failure are acting as a major challenge for the growth of the all-flash array market.

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CFM currently hold less share in the AFA market, however it is expected to grow at a faster rate. The high growth of CFM can be attributed to improved space efficiency, power, performance, price, capacity density, and flexibility. Currently, a small number of AFA vendors (such as Violin Memory and IBM) use CFMs; however, demand for CFMs is expected to increase in future because of their advantages such as less physical space, less power, and less cooling.

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Demand for object-based storage is growing at a fast rate because of applications such as big data analytics, IoT, and cloud storage technology. Object-based storage offers easy sync, share, and distribution of data. New data sources such as IoT, cloud privatization, and video surveillances are generating tremendous amount of data constantly. Object storage offers better operational efficiency for cloud by allowing back and forth data movement without application change. Through data management software, a large amount of data can be stored at low cost on a read-only basis.
Cloud computing in the AFA market is expected to grow at the highest rate during the forecast period. Cloud computing is becoming one of the preferred options for enterprises and consumers to back up and archive their data. Demand for AFA has been rapidly increasing with the emerging number of cloud platforms—from the traditional corporate private and new public clouds to personal clouds in homes.

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The AFA market in RoW is expected to grow at a faster rate during the forecast period. The Middle East has high opportunities in the energy industry. Oil and gas industry requires advanced data computing, processing, and storage solutions to analyze seismic data. Africa is expected to quickly adopt the cloud storage market. Brazil and other Middle Eastern countries are expected to grow considerably in aerospace & defense, energy, education & research, and media & entertainment, generating demand for data storage to adopt the advanced operations through data analytics.

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