The "Flash-based Array Market: Global Industry Analysis and Forecast" report from Persistence Market Research (PMR) projects that the market for flash-based arrays will expand quickly, with a CAGR of 18%, and will reach US$ 62,840.2 Million by the end of 2024.  Key Driver Insights  Shrinking cost and impressive performance capabilities of flash arrays have emerged as the two most favourable growth factors providing an impetus to the global flash-based array market.  Widespread use of flash-based arrays for high-intensity transactional workloads and development of virtual storage infrastructure is likely to drive the sales of flash-based array worldwide.

Key Trends and Opportunities  Robust adoption of mobile devices, cognitive systems, machine learning, cloud computing, Internet of Things (IoT), and artificial intelligence is necessitating real-time data processing to enable resourceful service delivery along with the flexibility of time. Another significant trend identified was that star-ups hold an important position in the market as these enterprises provide cutting edge storage solutions through flash-based SSD capable of storing data on a solid-state flash memory.

Key Takeaways

In terms of revenue, the hybrid flash array segment is projected to be the most attractive segment in the North America flash-based array market during the forecast period. All-flash array segment is expected to register high Y-o-Y growth rates throughout the forecast period and revenue is expected to register a CAGR of 24.1% between 2016 and 2024. Hybrid flash array segment accounted for a relatively high revenue share, and was valued at nearly US$ 5,000 Mn in 2015. This segment is expected to remain dominant during the forecast period.

In terms of revenue, large enterprises segment is projected to be the most attractive segment in the North America flash-based array market during the forecast period. SMEs segment is expected to register high Y-o-Y growth rates throughout the forecast period and revenue is expected to register a CAGR of 18.1% between 2016 and 2024. Large enterprises segment accounted for a relatively high revenue share, and was valued at nearly US$ 4,000 Mn in 2015. Large enterprises segment is expected to remain dominant during the forecast period.

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