Development of cloud-based services, rapid digitalization across the globe, and rapid expansion of data centers d rive the growth of the global storage accelerator market.
According to the report published by Allied Market Research, the global storage accelerator market was estimated at $10.72 billion in 2020 and is expected to hit $154.95 billion by 2030, registering a CAGR of 27.1% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Development of cloud-based services, rapid digitalization across the globe, and rapid expansion of data centers d rive the growth of the global storage accelerators market. On the other hand, lack of skilled AI hardware workers impede the growth to some extent. However, high demand for FPGA-based accelerators and advancements in the IT & Telecom sector are expected to create lucrative opportunities in the industry.
The operations of the production and manufacturing industries were heavily impacted by the outbreak of the COVID-19 pandemic, which affected the growth of the storage accelerator market.
On the other hand, as the electronics sector was heavily impacted during the period, the demand for electronics and semiconductor products experienced a steep incline, thereby giving a mixed impact to the storage accelerator market.
The global storage accelerator market is analyzed across processor type, technology, enterprise size, application, and region. Based on processor type, the GPU segment accounted for the major share in 2020, holding more than one-third of the global market. The same segment, on the other hand, would grow at the fastest CAGR of 29.7% throughout the forecast period.
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Based on technology, the NAND flash memory segment generated the highest share in 2020, accounting for nearly two-thirds of the global market. The Erasable Programmable Read Only Memory (EPROM) segment, however, is projected to manifest the fastest CAGR of 31.90% from 2021 to 2030.
Based on region, the market across North America held the lion’s share in 2020, garnering more than two-fifths of the global market. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 30.40% by the end of 2030.
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The key market players analyzed in the global storage accelerator market report include IBM Corporation, Intel Corporation, Kingston Technology Corp., Micron Technology, Inc., NVIDIA Corporation, Toshiba Corp, Qualcomm Technologies, Inc., Cisco Systems Inc., Samsung Electronics Co. Ltd., and Seagate Technology PLC. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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