The all-flash array market 2020 is all set to gain a solid valuation of USD 16.21 billion by 2024, reveals Market Research Future (MRFR). MRFR also confirms that the global market can make fast progress at a rate of 20.56% from 2019 to 2024 (appraisal period). We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
The COVID-19 impact on various industries has been quite evident, with almost of all them facing massive economic crisis. While many businesses are bearing the brunt of the pandemic, the semiconductor sector seems to be most affected. Following the SARS-CoV-2 outbreak, various firms in the all-flash array market have encountered tough decisions, in terms of finance, which compelled them to take strategic cost-cutting measures to help ensure continuous flow of operations and lesser revenue loss.
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The lockdown situation has been the short term impact that the novel coronavirus, affecting the manufacturing sectors and resulting in a financial loss for several semiconductor companies. The weak demand has had a domino effect throughout the market, with the drop in the prices as well as demand. The COVID-19 outbreak and the lockdowns that have been imposed across countries have resulted in ceased operations, and slowing down of e-commerce as well as retail stores. The supply chains worldwide have collapsed, creating a bigger gap between supply and demand.
Top Drivers and Main Barriers
On the bright side, it is anticipated that despite the onset of the novel coronavirus, the all-flash array market can sustain a decent growth throughout the review period, on account of the frequent technological innovations like machine learning and artificial intelligence. ML and AI help boost the consumption of all-flash array to cater to the escalating demand for real-time data processing, which means better market outlook.
Various enterprises, businesses and government worldwide are gradually shifting towards cloud, which has boosted the number of data centers to handle the increasing data volume. Since all-flash array systems feature a number of benefits such as easy installation, management and maintenance, trade experts assume that their demand among diverse verticals is projected to mount exponentially in the coming years.
In May 2020, Nimbus Data developed ExaFlash, which is an all-flash array with multi-protocol, multi-mode OS, and multi-function features. It boasts of federated architecture, multi-tenant management and versatility capabilities. This is an illustration of how several renowned companies in the all-flash array market are either forming strategic alliances or are developing new and more advanced products to boost their profits and customer base.
The all-flash array industry can be segregated with respect to storage pattern, flash media as well as end user.
The segments in terms of storage pattern include object, file, as well as block. The block storage market can observe maximum growth in the coming period because of its extensive use in applications that demand several transactions in real time. Also, better scalability, built-in data protection, efficient performance and ease of management that block storage offers also helps boost its demand in the market.
With respect to flash media, the market categories are custom flash modules (CFM) along with solid-state drives (SSD). SSD flash media had been identified as the top segment in 2018, while it is projected that CFM flash media can record the fastest rate in the given period. CFM offers various benefits including superior power and space efficiency, higher capacity density as well as flexibility and affordability.
Some of the key end users assessed in the market study are telecom, commercial institutions, media and entertainment, government, healthcare and BFSI. BFSI is anticipated to emerge as the top end-user in the all-flash array market, as a result of the increasing consumption in emerging regions and the increasing spending by these regions on development of existing conventional storage solutions.
The region-wise distribution of the all-flash array market comprises Europe, North America, Asia Pacific/APAC, as well as RoW/rest of the world.
Between 2019 and 2024, it is presumed that the APAC market could emerge as the most profitable, following the rising prominence of automation in various industries that extensively use all-flash array. The industry also stands to profit from the surge in government-backed initiatives as well as multi-million dollar deals within the banking vertical. The increasing penetration of laptops, tablets and smartphones across fast developing countries like India, China and Singapore also boosts business expansion in the region. Some other growth enhancers in the regional market include the expanding pool of data centers and the high availability of cheap raw materials that facilitate large-scale production of affordable all-flash arrays.
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Interestingly, MEA, which comes under the RoW market, can expand at the highest rate, on account of the increasing demand for all-flash array for data storage and the consequent increase in adoption of advanced operations via data analytics. The growing demand in media and entertainment and energy and oil & gas industries can add to the business momentum in the following years.
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