PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532856
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532856
Storage Accelerator Market size was valued at USD 21,789 Million in 2023, expanding at a CAGR of 26.8% from 2024 to 2032.
A peripheral component interconnect express (PCIe) card houses a high-performance solid-state storage subsystem known as a storage accelerator. The sluggish read/write performance and mechanical delay of conventional mechanical storage devices are typically eliminated by using a fast solid-state memory as the storage medium in storage accelerators. It is projected that factors like the growing use of smart cities, AI-centric data centers, linked factories, and associated digital age technologies will propel the expansion of the worldwide storage accelerator market.
Storage Accelerator Market- Market Dynamics
Growing Need for Storage Accelerators with Low Energy Consumption
The volume of data that needs to be managed is enormous as a result of the significant growth in applications and difficulties each year. Much power and energy are used as a result of this. Thus, the ability to merge the programs in an energy-efficient manner is one of the primary concerns being addressed in industry and research. Energy efficiency, as a performance indicator, has therefore gained importance in recent years. Parallax and energy efficiency are two key features of storage accelerators that support big data analytics.
Storage Accelerator Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 26.8% over the forecast period (2024-2032)
Based on processor type segmentation, the CPU category was predicted to show maximum market share in the year 2023
Based on technology segmentation, the Erasable Programmable Read Only Memory (EPROM) category was predicted to show maximum market share in the year 2023
Based on enterprise size segmentation, the large enterprises category was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Storage Accelerator Market is segmented based on Processor Type, Technology, Enterprise Size, Application, and Region.
The market is divided into the following categories based on processor type: CPU, GPU, ASIC, and FPGA. The CPU category dominates the market. Several techniques that increase the scalability, dependability, and efficiency of distributed storage systems (such as digital signatures, erasure coding, content addressability, integrity checks, and online data similarity detection) often result in computational overheads that make them challenging to use on modern hardware.
The market is divided into two categories based on enterprise size: Small & Medium Enterprises and Large Enterprises. The large enterprises category dominates the market and is likely to maintain its dominance during the forecast period. The growth of cloud computing, microservices-based applications, and storage is driving the need for more dynamic, more flexible network services. This is particularly valid for large companies that manage hundreds or even thousands of branch offices. The more users and locations there are on a WAN, the more complex and expensive it is to operate them.
Storage Accelerator Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, North America is anticipated to hold the greatest share of the global market for storage accelerators, driven by the growing need for data-intensive applications and high-performance computing. The demand for effective data storage solutions has increased dramatically because of the exponential growth in data generation from a variety of industries, including IT, healthcare, and finance. Storage accelerators are becoming standard parts of data centres and enterprise storage systems because they improve the speed and efficiency of data processing and retrieval. The market is also being driven by developments in technologies like artificial intelligence (AI), machine learning, and big data analytics.
In addition, the storage accelerator market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific driven by the growing demand from a variety of industries for data-intensive applications and high-performance computing. Advanced storage systems that can quickly and effectively handle massive volumes of data are now required due to the region's rapid digital transformation, as well as the growth of cloud services, artificial intelligence (AI), and machine learning (ML) technologies. China, Japan, and South Korea are leading the way in infrastructural development and technical advances. These nations have made significant investments in these areas.
The market for storage accelerators is expanding quickly on a global scale. For newcomers, high initial costs remain a problem. Companies in the market are spending a lot of money on research and development to create better parts that would lower the overall cost of storage accelerator devices. To stay competitive, the major industry competitors, however, concentrate on launching high-tech products. Product launches and acquisitions are anticipated to be the main tactics used by industry participants.
In July 2022: Samsung Electronics introduced the Samsung GDDR6, a Graphics Double Data Rate 6 (GDDR6) DRAM capable of 16 gigabits (Gb). The product offers processing speeds of up to 24 gigabits per second. The business intends to use the DRAM on GPU platforms to sample this product and then release it onto the market in time to meet the growing demand.
In March 2022: High-performance block storage provider Excelero was purchased by Nvidia. The company wanted to integrate Excelero technology into its software stack, which is why it made this deal. By expanding into integrated software and systems, the acquisition assisted Nvidia in broadening the variety of assets in its portfolio.
In May 2021: Samsung Electronics unveiled a memory module with connections that adhere to the Compute Express Link (CXL) standard. The product is a DRAM-based memory system that operates via the CXL interface. In cloud ecosystems and data centers, the CXL-based module will be crucial in supporting data-intensive applications like artificial intelligence (AI) and machine learning.
GLOBAL STORAGE ACCELERATOR MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Cisco Systems, Inc.
Intel Corporation
Seagate Technology Holdings Public Limited Company
Kingston Technology Company, Inc.
IBM Corporation
Micron Technology, Inc.
Samsung Electronics Co., Ltd.
Nvidia Corporation
Qualcomm, Inc.
Kioxia Holdings Corporation
Others