Global Solid-state Array Market to Grow at 29% CAGR Through 2022 | Technavio

Technavio has published a new market research report on the global solid-state array market from 2018-2022. (Graphic: Business Wire)

LONDON--()--Technavio market research analysts forecast the global solid-state array market to grow at a CAGR of over 29% during the period 2018-2022, according to their latest report.

In this report, Technavio highlights the growth of hyperscale data centers as one of the key emerging trends in the global solid-state array market. Hyperscale data centers are designed to provide a single massive and scalable computer architecture. Small individual servers, called nodes, are grouped together and operated as a single machine. These networked computer servers are used by organizations for remote distribution, processing, and storage of large amounts of data. A large amount of data is being created with the development of smart revolution, which includes focusing on the development of smart cities, smart grids, and smart homes. Processing this data has become a major priority, and this has led to an increase in the number of hyperscale data centers. Thus, increased investments in the construction of hyperscale data centers will drive the market.

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In this report, Technavio analysts highlight the increasing demand for cloud-based storage as a key factor contributing to the growth of the global solid-state array market:

Increasing demand for cloud-based storage

Cloud storage is an on-demand service that is provided to users by several companies. Users can save text, file, and images on a cloud-based platform. These cloud computing services charge a nominal subscription fee to their users. Cloud providers started using high input/output operations per second (IOPS) SSD to gain high-performance computing. Cloud computing allows users to access computing resources from any time at any location. Cloud computing provides centralized computation, which occurs through a data center.

According to a senior analyst at Technavio for embedded systems, “Reduction in power costs, alleviation of strain generated by excessive wattage flowing through the server, and minimization of heat are the advantages of using SSD for cloud-based storage. The development of cloud computing platform has been one of the major factors driving the growth of data centers.”

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Global solid-state array market segmentation

This market research report segments the global solid-state array market into the following technologies (MLC, eMLC, and SLC), end-users (enterprise and industrial), and key regions (the Americas, APAC, and EMEA).

Of the three major technologies, the MLC segment held the largest market share in 2017, accounting for nearly 75% of the market. The market share for this technology is expected to decrease nearly 5% by 2022. The fastest growing technology is eMLC, which will account for nearly 28% of the total market share by 2022.

The Americas was the leading region for the global solid-state array market in 2017, accounting for a market share of nearly 41%. By 2022, APAC is expected to register the highest growth of nearly 2%.

 

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Contacts

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com

Release Summary

Technavio market research analysts forecast the global solid-state array market to grow at a CAGR of over 29% during the period 2018-2022.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com