With a projected CAGR of 15.5% over the forecast period, the global solid state array market is expected to reach a market share of US$ 45,662.0 million by 2032, up from US$ 10,776.0 million in 2022.
Due to the growing demand for quicker and more effective memory solutions, the solid state array market is currently expanding at a faster rate. The massive amount of data generated every day around the globe increases the demand for more efficient storage solutions with large storage capacities, which is further boosting the market for solid state arrays.
In order to handle workloads that require performance and data management services, it is anticipated that demand for solid state arrays will increase.
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Solid state Array Market: Drivers and Challenges
Drivers
The growing demand for mass storage and storage devices is the major driver of the Solid state Array market. Also, the high adoption of solid state arrays in data centers for high performance computing and big data workloads, is the major factor which is driving the growth of solid state array market.
Apart from this, the various advantages of Solid state array over Hard-disk drives is also one of the factor which is fueling the growth of solid state array market. Moreover, the increasing demand of solid state arrays for various enterprise application will provide more growth opportunities for Solid state Array market.
Restraint
The high designing cost is expected to be the restraint in the growth of Solid state Array market. Also, the low environment stability and rapidly changing technology are some of the factors which may hinders the growth of Solid state Array market. Moreover, lack of device interoperability is one of the major challenges which may slow down the adoption of solid state arrays.
Key Players
- Fujitsu Ltd.
- IBM Corporation
- Hitachi Data systems
- Hewlett Packard Enterprise
- Huawei Technologies Co., Ltd.
- Kaminario
- NetApp, Inc.
- Tegile systems
- Pure storage
- Tintri, Inc.
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Solid state Array Market: Regional Overview
Geographically, North America is anticipated to be the largest market of Solid state array due to the presence of key market players operating in the region and the increasing demand of solid state arrays to address the need of data centers for high performance and computing and big data workloads. The APAC market is anticipated to be the second largest market owing to the advancement in storage solutions and presence of various key players in the region.
Moreover, Europe and Latin America region also shows potential growth opportunities of solid state array market due to the high adoption of solid state array in various applications.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Key Segments Profiled in the Solid State Array Market Survey
By Storage Capacity:
- 1GB – 256GB
- 256.1 GB- 1TB
- >=1.1TB
By Application:
- Enterprise
- Personal Computers
- Distribution and Retail Channel
- Consumer Electronics
- Telecommunication and Networking
- Medical Equipment
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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