The ‘Global Redundant Array of Independent Disks (RAID) Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global redundant array of independent disks (RAID) market size, assessing the market on the basis of its segments like levels, types, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 3.5%
Redundant array of independent disks (RAID) bolster the convenience of a computer consumers by improving fail safety, increasing the speed and efficiency of data accessibility, and enhancing reliability. In addition, RAID facilitates swapping and can easily replace a defective drive with a new one. The growing requirement of improving the performance of a drive, enhancing the security of data, and easing the data recovery process, among others, are driving the redundant array of independent disks (RAID) market growth.
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RAID is witnessing a heightened demand in the IT and telecommunication sectors owing to the increasing data volumes. The low costs associated with RAID are further propelling the adoption of the system across various end-use industries.
Over the forecast period, the anticipated increase in application for RAID technology in direct access storage devices (DAS), network attached storage (NAS), and storage area networks (SAN) is likely to add to the global market growth. These technologies are applicable in various industries where the demand for large storage capacity systems is high. The increasing popularity of RAID version 5 is expected to augment the redundant array of independent disks (RAID) market growth.
Regionally, North America represents a significant share of the market, driven by rapid digitalisation in various end-use sectors. The growing expansion of key players of data storage aimed towards increasing data storing capabilities for catering to the demands of end-users is further propelling the market growth in the region.
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Meanwhile, the Asia Pacific region is anticipated to attain a steady growth in the forecast period due to the thriving IT industry and increasing corporate workforce. The redundant array of independent disks (RAID) market in this region is anticipated to be garnered by the anchored economic growth attained by emerging economies such as India and China, among others, which are offering lucrative growth opportunities to the major data storage service providers.
Redundant Array of Independent Disks (RAID) Industry Definition and Major Segments
Redundant array of independent disks (RAID) refer to a technology intended towards configurating disks. Using this technology, a user can store data at several locations on a device. RAID contains numerous disk drives in the form of an array, which bolsters the overall performance, increases tolerance to errors, and enhances the storage capacity using methods of mirroring or striping.
Based on levels, the market can be segmented into:
The market can be broadly categorised based on type into:
By end uses, the market is segmented into:
IT and Telecommunications
On the basis of region, the market can be categorised into:
Middle East and Africa
Redundant Array of Independent Disks (RAID) Market Trends
The key trends in the redundant array of independent disks (RAID) market include the robust advancements in rapid storage technology supporting different versions of RAID. For instance, the latest versions of rapid storage technology developed by Intel support RAID versions 0, 1 5, and 10.
The increasing penetration of the Internet of Things across emerging economies and the rising demand for laptops and high-performance computers are positively influencing the market for RAID. In addition to this, the growing availability of high-speed internet and the rising volume of data across various industries such as IT and telecommunications and manufacturing, among others, are fuelling the redundant array of independent disks (RAID) market demand.
The increasing competition among the major BFSI firms is surging the utilisation of big data analytics, artificial intelligence, and cloud computing, hence boosting the incorporation of data structures. In this regard, BFSI companies are anticipated to shift their focus towards RAID 5 and RAID 10 for better handling of data and efficient access of information for the clients and employees.
The increasing demand for redundant array of independent disks (RAID) for fraud detection and data safety across banking and financial firms is likely to provide impetus to the market in the forecast period.
Key Market Players
The major players in the redundant array of independent disks (RAID) market report are:
Lenovo Group Limited
Hewlett Packard Enterprise Development LP
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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