The enterprise flash storage market is expected to register a CAGR of 13.67% over the forecast period (2021 - 2026). A massive amount of raw data is being generated every day, leading to a data storage crisis for the companies. The enterprise storage market is presently the most active place as storage users have been subjected to repeated hype for the last couple of decades. Consumers shifted from hard disk drives (HDDs) to solid-state drives (SSDs); they are further expected to move towards the upcoming all-flash arrays (AFAs). Enterprises are trying to figure out a way to deploy approaches to gain maximum return on investment strategically. Over the last few years, there has been a rapid growth in flash drive revenues, with enterprise storage devices recording a 50% annual growth per year.
The growth in data generated by the enterprise, coupled with the growing adoption of cloud technology, is expected to drive the market. The adoption of flash storage is continuing to grow in enterprise data centers across the world, added with the advantages in terms of power consumption, performance, scalability, and ease of management are boosting the adoption rate. It is projected that by 2022, over 72% of the organizations are expected to migrate to cloud data centers from on-premise data centers.
The Mission-critical applications, including real-time analytics and demanding database systems, can be performed easily with flash storage systems. So too can virtual servers, financial systems, virtual desktop platforms, and data analytics applications that gather vast amounts of data. Further developments such as Non-Volatile Memory Express (NVMe) have aided the increased market for enterprise flash storage.
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