Currently valued at US$ 296 Mn, the global zoned flash market is expected to grow at an astounding CAGR of 36.7% to reach US$ 3.59 Bn by the end of 2032. The zoned flash market has undergone significant development as a result of the adoption of solid state drives (SSDs). SSDs have significantly improved file-transfer speeds and access times for businesses dealing with huge volumes of data, such as programming environments or analysis.
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
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.
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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.
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 Open Flex 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.
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