The global solid state array market is anticipated to grow at a high CAGR of 15.5% during the forecast period, reaching a market share of US$ 45,662.0 million by 2032, up from US$ 10,776.0 million in 2022.
Today, the Solid state Array market is growing rapidly, due to the growing demand for faster, and efficient memory solutions. The huge amount of data is generated on the daily basis in the world thus, raising the need for more effective storage solutions with large storage capacity is fueling the Solid state Array market.
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The demand for Solid state Array is expected to gain momentum in order to address workloads that demand performance and data management services. Also, the use of Solid state arrays as a backup target to reduce backup and restore windows is one of the factors due to which the adoption of Solid state Arrays is increasing significantly.
Solid state Array is like shared storage device that drives to store data in the form of blocks in order to provide enhanced performance. Solid state arrays are used in applications that demand increased performance with high input/output. The benefits of solid state arrays are now gaining attention for all primary storage workloads and due to this, the market of solid state Arrays is growing at a rapid pace.
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.
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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.
Solid state Array Market: Competitive Landscape
Key Players
Prominent players in the global Solid state Array market are Fujitsu Ltd, IBM Corporation, Hitachi Data systems, Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., Kaminario, NetApp, Inc., Tegile systems, Pure storage, Tintri, Inc., and others.
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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