RAID Controller Card Market to grow by USD 779.69 million from 2022 to 2027 | APAC to contribute 30% of market growth - Technavio
NEW YORK, Sept. 2, 2023 /PRNewswire/ -- The RAID controller card market report has been added to Technavio's offering. The RAID controller card market is estimated to grow by USD 779.69 million from 2022 to 2027, growing at a CAGR of 4.08%. APAC is estimated to account for 30% of the global market growth. There is rapid economic growth coupled with advancements in technology and the rising adoption of digitalization across various industries in the region. Due to these factors, there is an increasing demand for robust data storage solutions such as RAID controller cards, to support the expansion of IT infrastructure and data-driven operations in the region. Hence, such factors are expected to drive the market growth in the region during the forecast period. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View the Sample report
RAID Controller Card Market - Company Landscape
RAID Controller Card Market - Market Dynamics
Major Drivers & Challenges-
The growing adoption of cloud-based storage services drives the market growth during the forecast period. Several enterprises are adopting cloud-based storage services. Some of the major cloud-based services include Amazon Web Services(AWS) and Microsoft Azure. The main feature of these services is that it offers up to 30 terabytes (TB) of storage capacity. As a result, it helps organizations mitigate risks to critical data from cyberattacks and insider threats. For instance, in 2020, Accenture introduced Accenture Cloud First, with an investment of USD 3 billion, to enable customers across industries to rapidly shift their business to digital platforms. Hence, such factors are driving the market growth during the forecast period.
The increasing adoption of SSDs is a primary trend in the market during the forecast period. There is an increasing adoption of SSDs across several enterprises as they are flash-based storage devices that have minimal power needs. In addition, the declining prices of flash-based storage devices are also fuelling the demand for SSDs across enterprises. For example, Huawei Technologies declared that it was focusing on the development of an NVMe over Internet Protocol (IP) SSD, which will have an on-drive object storage scheme. Hence, such developments are expected to positively impact the market which in turn will drive the market growth during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report
The RAID controller card market report includes information on the product launches, sustainability, and prospects of leading companies including Acer Inc., Advanced HPC Inc., Advantech Co. Ltd., Areca Technology Corp., Broadcom Inc., Cisco Systems Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., HighPoint Inc., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Lenovo Group Ltd., Marvell Technology Inc., Microchip Technology Inc., NEC Corp., StarTech.com Ltd., Super Micro Computer Inc., and Vantec Thermal Technologies Inc.
RAID Controller Card Market - Market Segmentation
This RAID controller card market is analyzed in terms of end-user (small enterprise and large enterprise), product (hardware RAID and software RAID), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-User
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
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