The "All Flash Array Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global all-flash array market is projected to grow at a CAGR of 26.3% during the forecast period from 2020 to 2025.
The increase in data generated by the enterprise, coupled with the growing adoption of cloud technology, is expected to drive the market. Moreover, with big data and analytics, the data access and processing patterns demand a higher storage performance, along with increased concurrency (Big Data aggravates the data mobility issues); The NVMe-based SSD is gaining traction in the market studied.
Hewlett Packard Enterprise Development LP
Violin Systems LLC
Pure Storage, Inc.
Western Digital Corporation
Huawei Technologies Co., Ltd.
Key Market Trends
BFSI is Expected to Hold Significant Share
Financial services firms are witnessing challenges concerning rapid changes arising from transformation to become truly digital businesses. Retail and investment banking, insurance companies, and brokerages have been serving customers who demand higher service levels through mobile and application interfaces. This raises the need for speed and reducing read/write times. Banks have been coping with previously unseen scale and pace of data growth while consolidating and managing such data from a data and IT perspective. Also, with the demand for offering an improved performance (IOPS), low latency, and higher availability across new business services, the sector has fueled the adoption for all-flash arrays.
For instance, Huawei's OceanStor Dorado series of AI-powered all-flash arrays are specifically designed to cater to the financial industry. The offering includes a set of unique technologies that deliver the superior IOPs speeds and lowest latency numbers in such domains. Bank V, an eastern Russia-based bank, found that its branch network grew to over 700 branches. As transaction volumes expanded, there's a need to integrate different systems, which usually lead to greater complexity. Huawei's offered its OceanStor Dorado, an existing data center architecture featuring, 400,000 IOPS at one millisecond of latency despite the data centers being separated by a 40km distance. This helped in addressing concerns about performance and business continuity.
North America is Expected to Hold Major Market
With the increasing investments related to big data and related services, the adoption of the all-flash array is accentuating the growth of this region. For example, American multinational, Intel is finding significant value in big data analytics. Also, in line with such developments, major players in the AFA market, such as NetApp and Pure Storage, among others, are housed in the region. Multiple product launches suggest that North America holds a significant share of the market studied. Moreover, the United States acts as headquarters for other prominent players in the market such as Dell Inc., IBM Corporation, Net App Inc., etc.
Owing to the presence of the highest number of data centers, booming healthcare, information technology, BFSI, retail, and media industries the region holds a significant share of the all-flash array market. According to the cloud scene, the number of data centers from both the US and Canada is 2,646 which is the highest in the world. This is expected to drive the demand for the all-flash array market.
North America spends a significant amount on IT infrastructure, owing to the presence of prominent information technology industry and key vendors' presence. The region is home to a thriving BFSI industry where organizations are ready to spend on IT infrastructure to cater to the needs of their customers. For instance, JP Morgan set up a budget of USD 11.4 billion as a technology budget for fiscal 2019, Bank of America has set an amount of USD 10 billion IT spending budget. This is expected to positively influence the all-flash array market. The region also accounts for a prominent share of global spending on cloud solutions. According to Tata Communications, the US spending on cloud security solutions is expected to reach USD 1,928 million by 2021.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Industry Attractiveness - Porter's Five Force Analysis
4.2 Pre-requisites/Consideration for choosing All-Flash Array
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Number of Data Centers
5.1.2 Ease of Management and Maintenance
5.2 Market Restraints
5.2.1 Initial Cost Involved
5.2.2 Lower Write Cycles
6 MARKET SEGMENTATION
6.1 By Type
6.2 By End-User Application
6.2.1 IT and Telecom Industry
6.2.5 Other End-User Applications
6.3.1 North America
6.3.4 Rest of the World
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/tg0tx4
View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005423/en/
Laura Wood, Senior Press Manager
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