Press release
Flash Based Array Market to Reach US$ 62,840.2 Million by 2024-end
Report Overview
The report published on the Flash Based Array Market is a comprehensive analysis that includes the key parameters and indicators critical in understanding the market. The data from the years 2021 to 2024 has been used to present the market status and size. The study also covers the overall market valuation along with the CAGR for the forecast period. The introductory chapter presents an overview of the Flash Based Array Market along with the product definition and market scope. The report also analyzes consumer trends regarding the products along with the industry development trends.
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.
Key Players:
The report has profiled some of the Important players prevalent in the global like - IBM Corporation, Oracle Corporation, Pure Storage, Inc., Hewlett Packard Enterprise Development LP, NetApp, Inc., Fujitsu Limited, Hitachi Data Systems Corporation, Huawei Technologies Co. Ltd., Dell EMC, Kaminario Inc., Tegile Systems, Inc., and Tintri, Inc and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Flash Based Array.
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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Major Highlights of the Flash Based Array Market Report:
The Flash Based Array Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Flash Based Array Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
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