New York, April 24, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global Storage Adapter Market is set to increase at a CAGR of 8.5% and reach a market value of US$ 25.54 billion by the end of 2033.
A storage adapter is responsible for managing the flow of data between a storage device and the computer's processor. It is used for performing tasks such as error correction, data caching, and data transfer rate optimization.
These products can significantly affect the performance of storage devices. Storage adapters are used to ensure compatibility between storage devices and the computer's hardware and software, allowing users to use a wide variety of storage devices with their computer systems.
By adding additional storage devices or upgrading existing ones, users can increase their computer's storage capacity and improve its overall performance.
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Storage adapters help reduce latency and increase data transfer rates, allowing for faster access to data and improved overall performance. These adapters are typically used in personal computing devices, data centers, storage area networks, digital media and cloud computing infrastructures, which is driving market growth substantially across the world.
Key Takeaways from Market Study
- By type, fiber channel (FC) accounted for a leading market share in 2022 and will maintain its dominant position through 2033.
- Demand for storage adapters via VGA is estimated to increase at a CAGR of 9.1% for the forecast period.
- By end user, the commercial segment is estimated to exhibit a CAGR of 9.7% between 2023 and 2033.
- North America is the market leader for storage adapters with a market share of 26.8% in 2022, followed by East Asia at 22.7%.
“Businesses should evaluate their storage needs, prioritize data security, consider specialized solutions, choose a reputable vendor, and keep up with emerging technologies when selecting storage adapter solutions. By doing so, they can select solutions that offer better performance, reliability, and efficiency, while also meeting their unique storage needs and requirements,” says a Persistence Market Research analyst.
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Growing Penetration of Solid-state Drives
Growing penetration of SSDs is expected to accelerate the growth of the storage adapter market as companies look to take full advantage of the speed, capacity, and advanced features offered by SSDs. Storage adapters that are compatible with SSDs, offer high-speed data transfer rates, and support advanced features will be in high demand as companies continue to adopt SSDs for their storage needs.
As more companies adopt SSDs for their storage needs there will be a corresponding increase in the demand for storage adapters that are compatible with SSDs. This is because SSDs use a different interface than traditional hard disk drives (HDDs), and storage adapters need to be compatible with the specific interface used by the SSDs. Moreover, SSDs offer significantly faster data transfer rates than traditional HDDs, and this places higher demands on storage adapters used to connect them to computer systems. Storage adapters that support higher data transfer rates, such as NVMe (Non-Volatile Memory Express) and PCIe (Peripheral Component Interconnect Express), will be in high demand as companies look to take full advantage of the speed benefits of SSDs.
SSDs often come with advanced features such as self-encryption and compression, which require storage adapters that are compatible with these features. As more companies adopt SSDs with advanced features, demand for storage adapters that can support these features will also increase. Increasing volume of data being generated by companies and individuals is driving the demand for more data storage capacity. SSDs offer a higher capacity than traditional HDDs and are therefore becoming an increasingly popular choice for storage. Storage adapters that can connect multiple SSDs in a RAID configuration to provide even greater capacity will be in high demand as the need for more data storage capacity continues to grow.
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More Valuable Insights on Offer
Persistence Market Research’s report on the storage adapter market is segmented into
- Type (iSCI, RAID, fibre channel (FC), fibre channel over Ethernet (FCoE), others),
- End user (individual, commercial, industrial, government),
- Region (North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, Central Asia, Russia & Belarus, Balkan & Balitics, and the Middle East and Africa).
For additional information on how the storage adapter market will shape up in the near future, write to the team of expert research analysts at media@persistencemarketresearch.com
About the Electronics, Semiconductors and ICT Division at Persistence Market Research
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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