Enterprise Flash Storage Market Growth Accelerates at 13.5% CAGR, Fueled by Cloud Adoption and Digitalization

News provided by

Oct 26, 2023, 10:45 ET

DUBLIN, Oct. 26, 2023 /PRNewswire/ -- The "Global Enterprise Flash Storage Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.

The global enterprise flash storage market is on a robust growth trajectory, with a projected increase of USD 7,971.55 million during 2022-2027, accelerating at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period.

The market is characterized by a holistic analysis, market size and forecast, trends, growth drivers, and challenges. Vendor analysis covers around 25 prominent vendors in the market.

Key Market Insights

Key insights from the report include:

The global enterprise flash storage market is set to grow by USD 7,971.55 million during 2022-2027, with a CAGR of 13.5% during the forecast period.
Factors driving market growth include increasing demand for high-performance storage solutions, growing adoption of virtualization and cloud computing, and rapid digitalization, leading to the need for faster data access and processing.
The market is segmented by application (Telecom and IT, Banking, Financial Services, and Others), type (Single-level cell (SLC), Multi-level cell (MLC), Triple-level cell flash (TLC), Serial NAND), and geographical landscape (APAC, North America, Europe, South America, Middle East, and Africa).

Factors Driving Market Growth

Several factors are driving the growth of the enterprise flash storage market, including:

High-Performance Storage Demand: Increasing demand for high-performance storage solutions is propelling market growth, as organizations seek efficient and agile storage options to handle vast amounts of data.

Virtualization and Cloud Adoption: The growing adoption of virtualization and cloud computing is driving the need for efficient and scalable storage solutions, contributing to market expansion.

Digitalization and Data Processing: Rapid digitalization across industries has led to a significant need for faster data access and processing, making flash storage solutions essential for businesses.

Competitive Landscape Analysis

Key players in the enterprise flash storage market, mentioned in the report, include:

Broadcom Inc.
Cisco Systems Inc.
Datrox Computer Technologies Inc.
Dell Technologies Inc.
Hewlett Packard Enterprise Co.
Hitachi Ltd.
Huawei Technologies Co. Ltd.
International Business Machines Corp.
Lenovo Group Ltd.
Micron Technology Inc.
NetApp Inc.
Nimbus Data Inc.
Nutanix Inc.
Oracle Corp.
Pure Storage Inc.
Samsung Electronics Co. Ltd.
StorCentric Inc.
VIOLIN Systems LLC
Western Digital Corp.
Intel Corp.

For more information about this report visit https://www.researchandmarkets.com/r/1duliu

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets