NEW YORK, March 7, 2019 /PRNewswire/ -- AFA market to grow at a CAGR of 24.53% from 2018 to 2023
The AFA market was valued at USD 5.9 billion in 2018 and is expected to reach USD 17.8 billion by 2023, growing at a CAGR of 29.75% during the forecast period. The expected market growth can largely be attributed to increasing use in data centers and augmentation of operations in the healthcare industry, Further, factors such as flexibility, installation, maintenance, and size are also driving the AFA market. Moreover, increasing need for real-time data processing and increasing deployment of AFA storage in artificial intelligence (AI) and machine learning (ML) applications are expected to fuel the growth of the market in the coming years. Performance issues and drive failures are acting as major challenges for the growth of the all-flash array market.
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SSD-based AFA market to hold largest size of AFA market during forecast period
SSD based AFA market hold a larger share of the flash media market.The growth can be attributed to the increasing number of enterprise applications requires high-performance storage, constant uptime, high throughput, power efficiency, and high reliability.
SSDs meet all these requirements, thereby enhancing the performance of enterprise data centers.
AFA market for object-based storage to grow at highest CAGR during forecast period
Demand for object-based storage is growing at a fast rate because of applications such as big data analytics, IoT, and cloud storage technology.Object-based storage offers easy sync, share, and distribution of data.
New data sources such as IoT, cloud privatization, and video surveillances are generating tremendous amount of data constantly.Object storage offers better operational efficiency for cloud by allowing back and forth data movement without application change.
Through data management software, a large amount of data can be stored at low cost on a read-only basis.
North America accounted for largest share in AFA market during forecast period
North America, being the early adopter of advanced data storage technologies, captures largest share of the AFA market followed by Europe and APAC.The adoption of smart technologies such as big data, IoT, and virtualization in North America generates a vast amount of data.
To handle this data, technologically advanced IT infrastructure is needed, which is capable of storing and processing a large amount of data. Every industry in North America is being digitized and demands AFA solutions.
Breakdown of primary participants' profile:
• By Company Type: Tier 1 - 30%, Tier 2 - 40%, and Tier 3 - 30%
• By Designation: C-Level Executives - 32%, Directors - 38%, and Others - 30%
• By Region: North America - 35%, Europe - 31%, APAC - 26%, and RoW - 8%
Key players in the AFA market include Dell (US), Hewlett Packard Enterprise (HPE) (US), NetApp (US), Pure Storage (US), IBM (US), Huawei (China), Western Digital (US), Hitachi (Japan), Kaminario (US), and Micron (US). The study includes an in-depth competitive analysis of these key market players, with their company profiles, recent developments, and key market strategies.
Research Coverage:
• The study covers the AFA market. It aims at estimating the market size and growth potential of this market, across different segments, such as by storage architecture/access pattern, by flash media, industry, and region. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall AFA market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05751091
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