Increasing penetration of hardware and software technology advancements have compelled corporate entities to appropriate a proportion of their revenue towards upgrading their data accumulation systems. As a result, the scope for zoned flash systems has widened. According to a new study by Future Market Insights, the global zoned flash market will grow at a staggering 36.5% CAGR through 2030.
Adoption of solid state drives (SSDs) has led to significant developments within the zoned flash market. SSDs have offered immense benefits to businesses working with immense volumes of data, such as programming environments or analysis, enhancing file-transfer speeds and access times.
Key Takeaways
- A staggering 36.5% CAGR – at which the market is likely to grow
- East Asia is anticipated to emerge as a major hub, attributed to surging business volumes
- SMEs to acquire significant pace, expanding at a noteworthy CAGR of 41.3% due to expanding scope of operations
- SSD management software solutions shall experience major traction, reach a value of US$ 2.6 Bn by 2030
- Non Volatile Memory Express (NVMe) host controller specifications are touted to be the frontrunners of the zoned flash market in coming years
“Increasing incidences of cybercrimes have prompted business organizations to adopt hardware-based data collection systems, providing much needed impetus to zoned flash manufacturers,” infers the FMI analyst.
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COVID-19 Impact Analysis
As the world heads towards a recessionary downturn, there are certain industries which are anticipated to stay afloat, including the zoned flash market.
While significant growth restrictions are expected in budgets and infrastructure, an infinitesimal possibility exists with regard to a constrained supply of storage to meet the requirements of the digital universe. As companies increasingly facilitate remote working arrangements, demand for digital data storage facilities is surging multifold.
As the pandemic unfurled in the past few months, incidences of cyberattacks registered a massive surge, with many organizations reporting several incidences of data theft and compromise across online platforms. Thus, companies have accelerated their spending on hardware-based storage devices, providing green spaces for the zoned flash market.
Therefore, a positively sloping curve is anticipated for the zoned flash market in the short-term forecast.
Competitive Intelligence
Prominent players within the zoned flash market are striving towards developing robust data storage solutions by doling out new hardware devices integrated with smart solutions to capture a broader customer base. In addition, they are investing in partnerships, collaborations and acquisitions to expand their market footprint.
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IBM Corporation and Radian Memory Systems have made significant strides with regard to zoned flash systems. In February 2020, both corporations undertook a live demonstration of Radian Zoned Flash SSDs with IBM’s software defined log-structured array storage management stack at the USENIX FAST Conference.
Western Digital is another prominent player within the global zoned flash market. Its OpenFlex Solution was recently selected by the ICM Brain and Spine Institute to streamline critical cures and treatment options. The solution helps doctors capture, share and analyze patient data from multiple clinical imaging tools across different labs.
Valuable Insights on the Zoned Flash Market
A recent market study published by Future Market Insights (FMI) on the zoned flash market includes a global industry analysis for 2019 and opportunity assessment for 2020-2030, and delivers a comprehensive assessment of the most important market dynamics. The report includes a detailed segmentation based on component (zone flash SSD and SSD management software), drive interface (SATA and SAS), end-user (data centre, enterprise and others) and region (North America, Europe, Latin America, East Asia, South Asia & Pacific and Middle East & Africa).