The new report by EMR titled, ‘Global Redundant Array of Independent Discs (RAID) Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global Redundant Array of Independent Discs market, assessing the market based on its segments like level, type, end use and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 4954.7 million
- Forecast CAGR (2021-2026): 4.6%
- Forecast Market Size (2026): USD 5929.7 million
Increasing demand for the storage capacity of digital content and ease of deployment of data storage operations are key factors driving the growth of the RAID industry. In addition, factors such as the availability of data backup in the event of device failure in enterprises, low costs associated with data-containing disc mirroring, guaranteed data reliability are contributing to market growth.
Industry Definition and Major Segments
RAID (redundant array of independent discs) is a data storage virtualization technology that integrates multiple physical disc drive components into a single logical data redundancy, performance improvement, or sometimes both. RAID incorporates a disc mirroring or disc stripping technique, which involves partitioning the storage space of the drive into units ranging from sector (512 bytes) to several megabytes. RAID provides a gateway to store the same data at different locations on multiple hard discs, resulting in data mirroring on one or more discs in the same array, so that if one disc fails, the data is stored. By placing data on multiple discs, input/output (I/O) operations offer the ability to read or write to more than one disc at the same time in a balanced way to improve performance. Depending on the desired balance between performance and fault tolerance, RAID devices use different RAID-level architectures. The RAID level describes how data is distributed across the drives.
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Based on the level of Redundant Array of Independent Discs, the market can be bifurcated into:
- RAID 0
- RAID 1
- RAID 5
- RAID 6
- RAID 10
- Others
Based on its type, the market can be broadly categorized into:
- Hardware
- Software
Based on the end use, the market can be classified into:
- Manufacturing
- BFSI
- IT and Telecommunications
- Others
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Market Trends
Due to the successful management of a wide range of end-user companies and the competitive climate between them, North America is the leading region for RAID. The RAID market in the Asia-Pacific region is also expected to see significant growth in the future due to the growing demand for data storage by companies in the region. In Europe, the RAID market is rising at a significant pace due to an increase in business demand and IT needs. The RAID market in Latin America and the Middle East is developing gradually. With the demand rising from the end users for data storage and ease of access for the same, aided by the boom in the technology sector, the market is expected to flourish. Government regulations to digitise and promote digital governance, along with increased migration of official work to digital platforms, also propels the growth of the market, in the forecast period.
Key Market Players
The major players in the market are Intel Corporation, Lenovo Group Limited, Fujitsu Limited, Hewlett Packard Enterprise Development LP, among others. 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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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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