The solid-state array market size is projected to be valued at USD 12,295.4 million in 2023 and is expected to rise to USD 53,006.0 million by 2033. The sales of solid-state array are expected to record a significant CAGR of 15.7% during the forecast period.
Today, the solid-state array market growth is gaining impetus due to the rising demand for faster and more efficient memory solutions. The huge amount of data being generated daily in the world raises the need for more effective storage solutions with large storage capacity, which is fueling the solid-state array market even further.
The demand for solid-state array is expected to gain momentum to address workloads that demand performance and data management services. Moreover, the utilization of solid-state arrays as a backup target to reduce backup and restore windows is one of the factors due to which the adoption of solid-state array is spiking significantly.
Another feature pushing forward the demand for the solid-state array is that SSD solid-state drives, which make full use of flash memory chips, won't interfere with normal use even when moving quickly or when they're flipped over and tilted. Furthermore, the demand is also swayed by its earthquake resistance when compared to conventional hard drives, enhancement of the security of data, and reduction of the risk of data loss in the event of an accidentally dropped laptop or a collision with a hard object.
| Attributes | Details |
|---|---|
| Solid-State Array Market CAGR (2023 to 2033) | 15.7% |
| Solid-State Array Market Valuation (2023) | USD 12,295.4 million |
| Solid-State Array Market Valuation (2033) | USD 53,006.0 million |
In the past years, the solid-state array market has demonstrated a positive sales trajectory of 13.6% between 2018 to 2022.
The solid-state array market witnessed robust sales growth from 2018 to 2022, driven by increasing demand for high-performance storage solutions. However, the forecast outlook for the period 2023 to 2033 indicates even stronger growth potential for the market.
Factors such as advancements in technology, expanding data storage needs, and the rising adoption of solid-state arrays in various industries are expected to fuel the market's growth during this forecast period. The market is projected to experience significant sales expansion, reflecting the increasing popularity and widespread adoption of solid-state arrays as a preferred storage solution.
Expanding need for data storage:
The growing demand for mass storage and storage devices is the major driver of the solid-state array market. Also, the high usage of solid-state arrays in data centers for high-performance computing and big data workloads is the major factor that is driving the growth of the solid-state array market.
Big data, cloud computing, and the Internet of Things (IoT) are also likely to scale up the sales of solid-state array to an extent.
The rise in acceptance of solid-state arrays:
Due to their advantages over conventional hard disc drives in terms of performance and reliability, solid-state arrays are growing in popularity (HDDs), in turn expanding the market size. They are used in a wide range of products, including storage systems, laptops, and business servers.
HDD to SSD transition:
Due to SSDs' falling prices, rising capacities, and better performance characteristics when compared to HDDs, the switch from HDD to SSD is quickening, expanding the overall solid-state array market size. On the flip side, the high design cost is expected to be the restraint in the growth of the solid-state array market.
Also, the low environmental stability and rapidly changing technology are some of the factors which may hinder the solid-state array market. Moreover, the lack of device interoperability may slow down the demand for solid-state array during the forecast period.
The United States has captured a substantial value share of 19.5% in the solid-state array market due to various factors. The country's technological advancements and innovation prowess have propelled it to the forefront of the industry. With a strong emphasis on research and development, the United States has fostered a favorable environment for the development and manufacturing of solid-state arrays.
Additionally, the country boasts a robust IT infrastructure, which facilitates the effective implementation and utilization of these storage solutions. The United States also benefits from a strong market demand driven by the increasing need for efficient and high-performance storage solutions in the era of data-driven applications. The presence of key players and a favorable business environment further contribute to the United States' significant market share, establishing it as a leading player in the solid-state array market.
The United Kingdom (UK) is experiencing a notable compound annual growth rate (CAGR) of 15.1% in the solid-state array market due to several key factors. The country's strong emphasis on digital transformation across various industries, such as finance, healthcare, and manufacturing, is driving the demand for high-performance storage solutions like solid-state arrays. Furthermore, the UK's increasing focus on data-driven applications, such as artificial intelligence and big data analytics, necessitates efficient and reliable storage systems, making solid-state arrays a preferred choice.
Firstly, India is experiencing rapid digital transformation across various sectors, including IT, telecommunications, healthcare, and e-commerce. This transformation requires robust storage solutions to handle the increasing volume of data generated, stored, and processed by organizations. Solid-state arrays, with their high performance, reliability, and scalability, are well-suited to meet these demands.
The rise of smartphone usage, internet penetration, and e-commerce activities further drive the need for efficient and high-capacity storage solutions. Additionally, government initiatives such as "Digital India" and "Make in India" promote the adoption of advanced technologies, including solid-state arrays, to support the country's digital infrastructure and economic growth.
Furthermore, the presence of major technology companies, increasing investments in data centers, and the strong IT services industry in India contribute to the growth of the solid-state array market.
It offers a cost-effective solution for consumers and businesses. With a balance between storage space and affordability, this range appeals to a wide range of users. It caters to mainstream usage by providing ample storage for operating systems, applications, and personal data. This makes it suitable for everyday computing needs.
Additionally, solid-state arrays in this capacity range often exhibit optimized performance characteristics, including fast read and write speeds, low latency, and efficient data access. These features make them suitable for various applications, from consumer electronics to entry-level servers.
Lastly, the continuous advancements in technology within this capacity range have improved performance, reliability, and overall value, further contributing to its high market share.
This is primarily due to the increasing demand for high-performance storage solutions in devices such as smartphones, tablets, laptops, gaming consoles, and portable media players. Solid-state arrays provide several advantages for consumer electronics, including faster data transfer speeds, improved energy efficiency, and enhanced durability compared to traditional hard disk drives. These benefits make them ideal for applications that require quick access to data, such as gaming, multimedia streaming, and multitasking. Furthermore, the decreasing cost of solid-state storage has made it more accessible to a wider range of consumers, further driving its adoption in consumer electronic devices. As a result, consumer electronics hold a substantial portion of the solid-state array market and continue to fuel its growth.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Countries Covered | USA, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa |
| Key Segments Covered | Storage Capacity, Application, Region |
| Key Companies Profiled | Fujitsu Ltd.; IBM Corporation; Hitachi Data systems; Hewlett Packard Enterprise; Huawei Technologies Co., Ltd.; Kaminario; NetApp, Inc.; Tegile systems; Pure Storage; Tintri, Inc. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 4: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 5: North America Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 6: North America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 7: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 8: Latin America Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 9: Latin America Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 10: Western Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 11: Western Europe Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 12: Western Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 13: Eastern Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Eastern Europe Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 15: Eastern Europe Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 16: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 17: South Asia and Pacific Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 18: South Asia and Pacific Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 19: East Asia Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: East Asia Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 21: East Asia Market Value (US$ Million) Forecast by Application, 2018 to 2033
Table 22: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 23: Middle East and Africa Market Value (US$ Million) Forecast by Storage Capacity, 2018 to 2033
Table 24: Middle East and Africa Market Value (US$ Million) Forecast by Application, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by Application, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 7: Global Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 8: Global Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 9: Global Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 10: Global Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 11: Global Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 12: Global Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 13: Global Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 14: Global Market Attractiveness by Application, 2023 to 2033
Figure 15: Global Market Attractiveness by Region, 2023 to 2033
Figure 16: North America Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 17: North America Market Value (US$ Million) by Application, 2023 to 2033
Figure 18: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 19: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 22: North America Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 23: North America Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 24: North America Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 25: North America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 26: North America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 27: North America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 28: North America Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 29: North America Market Attractiveness by Application, 2023 to 2033
Figure 30: North America Market Attractiveness by Country, 2023 to 2033
Figure 31: Latin America Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 32: Latin America Market Value (US$ Million) by Application, 2023 to 2033
Figure 33: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 34: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 37: Latin America Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 40: Latin America Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 41: Latin America Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 43: Latin America Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 44: Latin America Market Attractiveness by Application, 2023 to 2033
Figure 45: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 46: Western Europe Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 47: Western Europe Market Value (US$ Million) by Application, 2023 to 2033
Figure 48: Western Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 49: Western Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 50: Western Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 51: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 52: Western Europe Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 53: Western Europe Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 54: Western Europe Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 55: Western Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 56: Western Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 57: Western Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 58: Western Europe Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 59: Western Europe Market Attractiveness by Application, 2023 to 2033
Figure 60: Western Europe Market Attractiveness by Country, 2023 to 2033
Figure 61: Eastern Europe Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 62: Eastern Europe Market Value (US$ Million) by Application, 2023 to 2033
Figure 63: Eastern Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 64: Eastern Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 65: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 66: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 67: Eastern Europe Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 68: Eastern Europe Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 69: Eastern Europe Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 70: Eastern Europe Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 71: Eastern Europe Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 72: Eastern Europe Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 73: Eastern Europe Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 74: Eastern Europe Market Attractiveness by Application, 2023 to 2033
Figure 75: Eastern Europe Market Attractiveness by Country, 2023 to 2033
Figure 76: South Asia and Pacific Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 77: South Asia and Pacific Market Value (US$ Million) by Application, 2023 to 2033
Figure 78: South Asia and Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 79: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 80: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 81: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 82: South Asia and Pacific Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 83: South Asia and Pacific Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 84: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 85: South Asia and Pacific Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 86: South Asia and Pacific Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 87: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 88: South Asia and Pacific Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 89: South Asia and Pacific Market Attractiveness by Application, 2023 to 2033
Figure 90: South Asia and Pacific Market Attractiveness by Country, 2023 to 2033
Figure 91: East Asia Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 92: East Asia Market Value (US$ Million) by Application, 2023 to 2033
Figure 93: East Asia Market Value (US$ Million) by Country, 2023 to 2033
Figure 94: East Asia Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: East Asia Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 96: East Asia Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 97: East Asia Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 98: East Asia Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 99: East Asia Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 100: East Asia Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 101: East Asia Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 102: East Asia Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 103: East Asia Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 104: East Asia Market Attractiveness by Application, 2023 to 2033
Figure 105: East Asia Market Attractiveness by Country, 2023 to 2033
Figure 106: Middle East and Africa Market Value (US$ Million) by Storage Capacity, 2023 to 2033
Figure 107: Middle East and Africa Market Value (US$ Million) by Application, 2023 to 2033
Figure 108: Middle East and Africa Market Value (US$ Million) by Country, 2023 to 2033
Figure 109: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 110: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 111: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 112: Middle East and Africa Market Value (US$ Million) Analysis by Storage Capacity, 2018 to 2033
Figure 113: Middle East and Africa Market Value Share (%) and BPS Analysis by Storage Capacity, 2023 to 2033
Figure 114: Middle East and Africa Market Y-o-Y Growth (%) Projections by Storage Capacity, 2023 to 2033
Figure 115: Middle East and Africa Market Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 116: Middle East and Africa Market Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 117: Middle East and Africa Market Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 118: Middle East and Africa Market Attractiveness by Storage Capacity, 2023 to 2033
Figure 119: Middle East and Africa Market Attractiveness by Application, 2023 to 2033
Figure 120: Middle East and Africa Market Attractiveness by Country, 2023 to 2033
The solid-state array market is set to reach USD 12,295.4 million in 2023.
The global solid-state array market is poised to achieve a revenue milestone of USD 53,006.0 million by 2033.
A CAGR of 15.7% is predicted for the solid-state array market through 2033.
Given its advanced IT sector and data-driven industries, the United States presents substantial profit opportunities for solid-state arrays.
The primary trend in the solid-state array market is swift NVMe technology adoption, boosting storage performance and data center efficiency.
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