Flash-Based Array Market to Grow with a High CAGR and Forecast to 2033

Posted by Ashish on February 15th, 2023

The "Flash-based Array Market: Global Industry Analysis and Forecast" report from Persistence Market Research (PMR) projects that the market for flash-based arrays will expand quickly, with a CAGR of 18%, and will reach US$ 62,840.2 Million by the end of 2024.

Key Driver Insights

Shrinking cost and impressive performance capabilities of flash arrays have emerged as the two most favourable growth factors providing an impetus to the global flash-based array market.

Widespread use of flash-based arrays for high-intensity transactional workloads and development of virtual storage infrastructure is likely to drive the sales of flash-based array worldwide.

Key Trends and Opportunities

Robust adoption of mobile devices, cognitive systems, machine learning, cloud computing, Internet of Things (IoT), and artificial intelligence is necessitating real-time data processing to enable resourceful service delivery along with the flexibility of time. Another significant trend identified was that star-ups hold an important position in the market as these enterprises provide cutting edge storage solutions through flash-based SSD capable of storing data on a solid-state flash memory.

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