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Tectonic Innovation To Drive The Flash Based Array Market

05-17-2022 12:49 AM CET | IT, New Media & Software

Press release from: Persistence Market Research

Tectonic Innovation To Drive The Flash Based Array Market

The Persistence Market Research (PMR)'s outlook on "Flash-based Array Market: Global Industry Analysis and Forecast, 2016-2024" indicates that the global market for flash-based arrays is set to ride on a robust CAGR of 18% between 2016 and 2024 to reach US$ 62,840.2 Million by 2024-end.

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Key Driver Insights
• Shrinking cost and impressive performance capabilities of flash arrays have emerged as the two most favourable growth factors providing an impetus to the global flash-based array market.
• Widespread use of flash-based arrays for high-intensity transactional workloads and development of virtual storage infrastructure is likely to drive the sales of flash-based array worldwide.

Key Trends and Opportunities
Robust adoption of mobile devices, cognitive systems, machine learning, cloud computing, Internet of Things (IoT), and artificial intelligence is necessitating real-time data processing to enable resourceful service delivery along with the flexibility of time. Another significant trend identified was that star-ups hold an important position in the market as these enterprises provide cutting edge storage solutions through flash-based SSD capable of storing data on a solid-state flash memory.

Highlights: Segment Analysis
• In terms of volume, the hybrid flash array is expected to remain the largest product type segment throughout the assessment period. Whereas, the all-flash array segment is anticipated to witness a stout CAGR of 27.9% to reach a market valuation of US$ 17,882.4 Million by 2024-end
• Based on storage capacity, flash arrays between 100 and 500 TB held nearly 24.2% share of the market in 2015 and is anticipated to register the highest CAGR during the forecast period.
• Demand for flash based arrays was notably high from the BFSI sector in 2016 and the sector is expected to maintain similar stance throughout the forecast period. Media and entertainment is one of the other fastest growing end-user segments in flash based array market owing to increasing adoption of flash based arrays in media and entertainment industry spread across North America, Europe and Latin America region.
• Based on enterprise type, in 2015, large enterprises segment accounted for over 68% revenue share of the market and is expected to remain at the top spot through 2024. Meanwhile, the SMEs segment is projected to increase at a CAGR of 22.3% over the forecast period.

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APAC Set for Impressive Growth at a CAGR of over 7%
Regional analysis reaffirms the preeminence of North America, foreseen to capture over 38% value share in 2024, representing a value of over US$ 5.8 Bn. Europe will remain the second largest regional market for integration and orchestration middleware market with over 27% share in 2024. Asia Pacific, poised to register the highest CAGR of 7.6%, will also represent a sizeable market share of over 15%. Growth of middleware deployment markets in China, Japan, and India are primarily identified to boost the Asian market over the next few years.

Technological Innovations Collectively Driving Market
Integration and orchestration middleware solutions will continue to gain traction with growing innovation in IoT things and rising demand for digitization. A relatively quicker fundamental shift to cloud-based middleware, coupled with API evolution, will be responsible for the flourishing market. To be competitive within marketplace, enterprise managers can encounter opportunities that come along with business automation middleware. Moreover, burgeoning use of cloud for better agility will open new avenues for the entire middleware market over the next few years.
Influential trends, such as PaaS, DevOps, containerization, and MBaaS will provide a strong impetus to technological innovation and demand for integration and orchestration middleware. While emergence of microservices is expected to be one of the most popular techniques for faster creation and testing of applications especially in the midst of connected devices, introduction of consumerization will allow end-users with self-integration and automation of applications.

Integrated Machine Learning Presenting Big Opportunities
Integrated machine learning is believed to hold a major potential to act as a replacement technology in the global integration and orchestration middleware market. With a strong backup of high level, effective integration and orchestration techniques in the arsenal, leading vendors can focus on large scale distribution and work on delivering innovative integration and orchestration solutions.

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