The multi-tenant cloud environment is driving the adoption of SDS solutions in the data center flash storage market.
Arizton’s recent market research report on the global data center flash storage market identifies Dell Technologies, Hewlett Packard Enterprise (HPE), IBM, NetApp, and Pure Storage as the leading vendors that are likely to dominate the market during the forecast period. The research report provides a comprehensive industry study, trend forecasts, and competitive analysis. The study segments the market by systems (direct attached storage, storage area network, and network attached storage), end-users (cloud/IT services, BFSI, healthcare, retail, and others), and geography (APAC, Americas, Europe, and MEA).
The global data center flash storage market is expected to reach over $24 billion by 2024, growing at a CAGR of more than 16.5% during 2018–2024.
Flash storage devices have proven effective in increasing the performance and reducing the space and power consumption in a data center. Hyperscale operators are the major end-users of flash storage devices as they build data centers that support these storage devices. The trend of business digitalization, the increased penetration of the internet, and the increase adoption of cloud, big data, and AI technology are the predominant drivers for the implementation of flash storage devices in the data center environment.
Request for a Sample!
The leading three drivers and trends propelling the growth of the data center storage market are discussed below:
Growing Business and Consumer Data
Data centers are built, operated, and maintained to process a high quantity of both customer and business data. The number of people accessing the internet has grown significantly in the past decade. It increased from about 1.5 billion in 2008 to 4.3 billion in 2018. Hence, the amount of data generated has almost grown three times because of the increased use of desktop systems, the high penetration of smartphones, the rise of social media platforms, and increase in wearable and other connected devices. In terms of the consumption, consumers contributed to more than 75% to the overall internet traffic, while the business traffic accounted for less than 25%. The vast data growth has led to the need for storage devices such as tape storage, HDD, and flash storages. The data industry is finding it difficult to maintain the performance and efficiency of their systems while handling a large quantity of data using traditional storage systems. This has led to the procurement of flash storage solutions that offer higher IOPS at reduced latency than traditional storage systems. The penetration of big data analytics, IoT, and Artificial Intelligence technologies is prompting hyperscale data center operators such as Facebook and Google to invest in flash storage solutions for applications such as database and big data analytics.
Read: Hyperscale Data Center Market in APAC- Industry Outlook and Forecast 2020-2025
Rising Demand for Flash Storage in the Cloud
There is a growing demand for IaaS, SaaS, and PaaS among enterprise. It is expected that more than 90% of SMEs will be operating their business through the cloud by 2024. The demand for hybrid infrastructure services is expected to grow at a CAGR of over 35% during the forecast period. These demands have prompted cloud service providers to expand their operations across major locations with the construction of hyperscale data center facilities capable of storing petabytes of information. Facebook is expanding its base with the construction of additional data center building in the US and Europe. Facebook uses all-flash storage for its cache and database application for the past few years, with the density of SSD in their data centers doubling almost annually. Cloud providers are also encouraging their customers to use SSDs for all those applications where the need for data access is frequent and important. As data centers are witnessing the deployment of intensive technology such as Artificial Intelligence (AI), the use of SSDs is expected continue to grow in the cloud market during the forecast period. The adoption of SSDs is further likely to increase due to their reduced cost in the near future.
Read: Japan Data Center Market - Investment Analysis and Growth Opportunities 2021-2026
Increase in Implementation of SDS Solutions
As the adoption of all-flash storage continues to grow among enterprise environment, the implementation of software-defined storage(SDS) is also gaining traction as it is a form of virtualization storage tier with automation and defined policies. SDS is a technology adopted to allow applications to define, expand, manipulate, truncate, and secure storage based on policies and the on-demand basis. The multi-tenant cloud environment is driving the adoption of SDS solutions. The SDS approach provides organizations high flexibility, enabling the effective utilization of flash infrastructure, thereby improving performance and reducing the total cost of ownership. Organizations are considering adopting flash storage solutions with the right combination of defined software and flashing infrastructure, which will boost the data center storage market.
Accelstor, Avere Systems (Microsoft),Datadirect Networks, Fujitsu, Hitachi Vantara, Huawei,Infortrend Technology, Intel, Inspur,Kaminario, Lenovo, Micron,Mitac Holdings, Nimbus Data, Pivot3,Qnap Systems, Quanta Cloud Technology (Quanta Computer), Samsung, Seagate Technology,Sk Hynix (Sk Group), Super Micro Computer, Synology, Toshiba, Violin Systems, Western Digital, and Wiwynn (Wistron) are the other prominent vendors in the data center flash storage market.
Request for a Sample!
The complete overview of the latest market research report on the global data center flash storage market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market sizing and forecast for major geographical regions and key countries.
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
+1 302 469 0707
Mar 15, 2023
STOCK MUSIC MARKET EXPERIENCING MASSIVE DEMAND – HUGE MARKET TO INVEST IN!
The rising demand for improving video and movie experience creates large avenues for the stock music...
Jan 30, 2023
More than USD 200 Billion Opportunities Opening Up in the Flooring Market
Arizton estimates that there are more than 200 billion Opportunities in the flooring market. Growing...
Jan 18, 2023
Netherlands Used Construction Equipment-Compact Electric Used Construction Equipment Sales Booming
More than 22k Units of Used Construction Equipment to be Sold in Netherlands...