Currently valued at US$ 296 million, the global zoned flash market is anticipated to reach US$ 3.59 billion by the end of 2032, growing at an astonishing CAGR of 36.7%. The development of solid state drives has caused a significant expansion of the zoned flash market (SSDs). For businesses dealing with vast volumes of data, such as programming environments or analysis, SSDs have dramatically increased file transfer speeds and access times.
25% of the global data storage device market’s revenue in 2021 came from the zoned flash industry. Due to the rapid digitization and high technological proliferation that has raised the requirement for data storage on a global scale, zoned flash devices are anticipated to be in high demand.
- A staggering 36.5% CAGR – at which the market is likely to grow
- East Asia is anticipated to emerge as a major hub, attributed to surging business volumes
- SMEs to acquire significant pace, expanding at a noteworthy CAGR of 41.3% due to expanding the scope of operations
- SSD management software solutions shall experience major traction, and reach a value of US$ 2.6 Bn by 2030
- Non-Volatile Memory Express (NVMe) host controller specifications are touted to be the frontrunners of the zoned flash market in the coming years
COVID-19 Impact Analysis
When the world faces a recessionary crisis, some industries, such as the fragmented flash market, are anticipated to survive.
Even though need for digital data storage facilities.
The number of cyberattacks increased as the epidemic progressed over the past three months, with many firms reporting multiple instances of data theft and compromise across internet platforms. Businesses have increased their investment in hardware-based storage systems as a result, which is creating growth opportunities for the zoned flash industry.
As a result, it is anticipated that the zonal flash market would follow a positively sloped curve shortly.
By developing new hardware devices that are cleverly integrated with innovative concepts to appeal to a wider user base, leading industry participants in the zoned flash market are working hard to provide dependable data storage solutions. They are also taking part in alliances, mergers, and acquisitions to broaden their market reach.
The efforts of IBM Corporation and Radian Memory Systems have greatly advanced zoned flash systems. Both companies presented a live demonstration of Radian Zoned Flash SSDs with IBM’s software-defined log-structured array storage management stack at the USENIX FAST Conference in February 2020.
Western Digital is a key participant in the global zonal flash market. The ICM Brain and Spine Institute recently decided to streamline crucial treatments and cures using its Open Flex Solution. The system helps health care providers gather, transport, and analyze patient data from various clinical imaging devices used in various labs.