LONDON--(BUSINESS WIRE)--The RAID controller battery market is expected to grow by USD 54.25 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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The construction of data centers is generally associated with huge CAPEX and OPEX. Hence, many enterprises, especially SMEs with budget constraints are increasingly adopting colocation services. This is driving investments in the construction of colocation data centers. For instance, in May 2019, Equinix announced its plan to open 12 new International Business Exchange (IBX) data centers and expand the 23 existing IBX data centers by 2019. The company also announced its plans to invest in the construction of its fourth data center in Singapore. Colocation services require SMEs to install hardware such as servers, storage devices, network equipment, PDUs, and RAID controller cards. RAID controller batteries are used to increase the performance of RAID controller cards without risking data. Therefore, the rising demand for colocation services is expected to fuel the growth of the global RAID controller batteries market during the forecast period.
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As per Technavio, the increasing demand for cloud-based services will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
RAID Controller Battery Market: Increasing Demand for Cloud-based Services
The adoption of cloud computing is significantly increasing among enterprises owing to the flexibility and cost benefits associated with cloud services. For example, cloud services allow enterprises to flexible payment options such as a pay-as-you-go model or fixed monthly fees. Besides, several leading organizations are focusing on expanding their cloud operations across regions. This is accelerating investments in cloud data centers. This, in turn, will drive the adoption of RAID controller cards, thereby fueling the growth of the global RAID controller battery market.
“Increasing investments in the construction of data centers and data center modernization will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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RAID Controller Battery Market: Segmentation Analysis
This market research report segments the RAID controller battery market by type (Lithium-ion and Nickel-Cadmium) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the RAID controller battery market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increasing mobile data traffic in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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