FMI Study has presented a report about the adoption of solid-state drives (SSDs).Due to increasing penetration of hardware and software technology advancements, the scope for zoned flash systems has widened. According to ESOMAR-certified market research and consulting firm study, the global zoned flash market will grow at a staggering 36.5% CAGR through 2030.
The 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.
- 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 the 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 front runners of the zoned flash market in coming years
- “Increasing incidences of cyber crimes have prompted business organizations to adopt hardware-based data collection systems, providing the much-needed impetus to zoned flash manufacturers,” infers the study analyst.
COVID-19 Impact Analysis
As the world heads towards a recessionary downturn, certain industries are anticipated to stay afloat, including the zoned flash market.
While significant growth restrictions are expected in budgets and infrastructure, an infinitesimal possibility exists concerning 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 multi-fold.
As the pandemic unfurled in the past few months, incidences of cyber attacks 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.
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. Besides, they are investing in partnerships, collaborations and acquisitions to expand their market footprint.
IBM Corporation and Radian Memory Systems have made significant strides concerning 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.