Press release
Computational Storage Market Growth, Analysis, Latest Trends and Forecast till 2027
Computational Storage Market by Type (Fixed Computational Storage Services (FCSS), Programmable Computational Storage Services (PCSS)), End User (Enterprise Storage, Automotive & Transportation, Military & Aerospace, Industrial, Telecommunication, Energy & Power, Healthcare, Agricultural, Retail & Others) ) and Region - Global Forecast 2027.Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=71343109
By Type, Fixed Computational Storage Services (FCSS) segment is projected to account for a high share of the Computational Storage market from 2022 to 2027.
The market share held by Fixed Computational Storage Services (FCSS) segment is anticipated to be high as compared to its counterpart. FCSS are designed for distinct data-and-compute-intense tasks such as data encryption or compression. FCSS offers better performance and is more cost-effective, hence, many companies are inclined towards working on organic strategies for FCC development and product placement in the market. Key technology development happening in the market are related to accelerating storage layer features to move computing to storage, thereby reducing data bottlenecks while processing.
Cloud Services Provider Segment is a high growth market
The demand for computing storage has rapidly increased with the emergence of cloud platforms - from traditional private and new public clouds to personal clouds in homes. The demand for cloud service providers is driven by factors such as increased adoption of hybrid cloud storage; sizable growth of Internet of Things (IoT); growing need for enterprise mobility for enhanced efficiency; and the need to reduce operational expenditure (OPEX) and capital expenditure (CapEx).
The study categorizes the Industry 5.0 market based on by End-use and Geography - Global Forecast to 2027.
Global Computational Storage Market, By Type
Fixed Computational Storage Services (FCSS)
Programmable Computational Storage Services (PCSS)
Global Computational Storage Market, By End-Use
BFSI
Consumer Goods
Retail
Healthcare
Media & Entertainment
Global Computational Storage Market, By Region
US
Canada
Mexico
Europe
APAC
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Key players in the Industry 5.0 market
Arm Limited (UK),
IBM (US),
Intel Corporation (US),
Microsoft Corporation (US),
ScaleFlux (US),
Nvidia (US),
NetApp (US),
Pilops (US),
AMD (US),.
North America region is expected to hold the largest share of the market during the forecast period.
The increasing volume of unstructured data across various sectors and the emergence of newer and frequent technology development have led to increasing demand for secure, reliable, and cost-effective solutions in North America. For instance, advent of online shopping in retail; adoption of telemedicine and patient analytics in healthcare; data sharing in media and entertainment; adoption of robotic process automation (RPA) and machine learning (ML) in manufacturing; digitalization and big data analytics with cloud migration in government and telecommunications sectors generates volume of data. Processing such a set of data sometimes becomes challenging to manage. To pace up the data processing, computational storage is required, which offers in-storage computing. This manages the data processing at storage front and frees up the CPU for other priority tasks.
Recent Developments
In August 2022, SK Hynix and Los Alamos announced their collaboration to co-develop a prototype of a computational storage device.
In September 2022, ScaleFlux announced its partnership with TD SYNNEX, aiming to broaden its access in the computational storage market.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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