Redundant Array of Independent Disks (RAID) Market Size, Share, Growth, and Industry Analysis, By Type (Hardware RAID Card & Software RAID Card), By Downstream Industry (Internet Industry, Service Industry, Manufacturing Industry, Financial & Government) and Regional Forecast to 2032

Updated On: 21 October 2024

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REDUNDANT ARRAY OF INDEPENDENT DISKS (RAID) MARKET REPORT OVERVIEW

The Redundant Array of Independent Disks (RAID) Market Size was Valued at US$ US$ 4677 Million in 2023. The Market is likely to Surpass US$ 7526.6 Million by 2032 at a CAGR of 4.87% During the Forecast period [2024-2032].

The RAID, or Redundant Array of Independent Disks, market includes products that are used to enhance such aspects as data redundancy, the speed of storage, and discrete fault tolerance. RAID systems are combinations of multiple hard drives that will be able to store more data and also create protection for the hard drives. This market contains many different types of RAID, some of which are faster, some are more protective, and so on. Thus, the RAID market is still progressing, stimulated by the development of new technologies and the expanding number of companies requiring effective solutions for data storage in the context of the continuous increase in the volume of generated data.

COVID-19 Impact: Market Growth Restrained During Pandemic Due to Adverse Impact on Production And Delivery

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The present and last few years’ market for RAID has reduced due to COVID-19 because processing units or manufacturing plants were not able to effectively produce RAID due to disruptions in their supply chain. Movement restrictions that included the use of social lockdowns impacted the production and delivery of RAID components, and economic instabilities made many companies defer their upgrade of IT infrastructure investments. As such, the demand for RAID systems was affected because firms strategically empowered cost-reduction initiatives and postponed capital investments. This downturn impacted market growth over the period of the pandemic.

LATEST TRENDS

"Emerging trends in RAID include AI maintenance and NVMe adoption, driving market growth"

The current trends in the redundant array of independent disks (RAID) market include the use of artificial intelligence for maintenance, software-defined storage, and NVMe instead of SATA drives. One can mention the growing popularity of NVMe RAID, which boosts I/O operations’ speed and cuts latency by facilitating performance increases critical for mission-critical tasks. It is especially noticeable in fields where quick data retrieval and further analysis are possible, like big data processing and real-time computing.

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REDUNDANT ARRAY OF INDEPENDENT DISKS (RAID) MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Hardware RAID Card & Software RAID Card.

• Hardware RAID Card: A hardware RAID card is an expansion card responsible for RAID arrays that are separate from the host system and its CPU; it offers better performance. These cards are preferred more in enterprise settings since they are fast and precise in processing data. They usually come with features such as independent RAID support, an integrated battery-backed-up cache solution, and highly developed self-diagnostic and error recovery capabilities, making them good for high-performance applications.

• Software RAID Card: Software RAID is based on the direct use of the host system’s CPU to perform configuration tasks for RAID systems, making it a cheap means of data protection and performance enhancement. It is frequently incorporated into the operating system level for conveniently and easily configured RAID without extra hardware. It can be considered adequate since, for many small to medium-sized businesses and personal uses, this performance is quite enough and is not inapt for hardware RAID.

By Downstream Industry

Based on Downstream Industry the market can be categorized into Internet Industry, Service Industry, Manufacturing Industry, Financial & Government.

• Internet Industry: In the internet industry, RAID systems draw backup copies and have high accessibility to web servers and cloud-based data storage solutions. They guard valuable data from disk crashes, reduce the amount of time during which the clients cannot access the information stored in them, and provide uninterrupted usage. Optimizing the RAID parameters grows with the development of internet services, satisfying the necessity of great data centers and online platforms.

• Service Industry: The service industry depends on RAID systems to ensure the security of their client’s data while at the same time enhancing business operations in the health sector, the hospitality industry, the hospitality industry, and the consulting industry, among others. RAID configurations are also helpful to circumvent data loss and to protect data that could bring the service down quickly if it is lost, which is helpful to the operation of the business. Due to the requirements stipulated on data security and faster access, RAID becomes imperative to the functioning of this industry.

• Manufacturing Industry: Manufacturing systems that apply RAID allow for the storage as well as management of large quantities of production details, for instance, bills of material, design documents, or quality assurance records. MES and ERP systems are made to be more reliable and performant due to these solutions. RAID helps in data protection and has the capability of giving fast access, making it vital for the production calendar to run as planned and not be affected by time consumption by the system.

• Financial: RAID systems are critical for the financial sector as they provide secure storage and rapid access to financial data, transactions, and customers’ information. RAID configurations are important for data protection, preventing data loss, and conformity to standards and regulations. Advanced levels of RAID meet the market trends of data transaction processing in real time and system availability around the clock.

• Government: RAID systems are important for government agencies because the management of large amounts of information is critical and must include public records, defense data, and administrative documents, among others. RAID technology provides the required redundancy and data integrity to overcome the problem of hardware failure and provide operational continuity. RAID solutions in the government sector are all the more required as government institutions are rapidly expanding digital services.

DRIVING FACTORS

"RAID market growth is driven by enhanced data protection and reliability needs"

Necessary improvements in the area of data protection and the resulting reliability of storage systems are the main driving force behind the Redundant Array of Independent Disks (RAID) Market Growth due to RAID configurations’ use of redundancy and fault tolerance. This helps to sustain data consistency and accessibility when managing substantial amounts of vital information for the companies. Due to the increasing frequency of data breaches and cyber threats, more organizations are adopting RAID systems for the protection of data.

"RAID systems see increased demand driven by growing data volumes and complexity"

RAID systems gain their demand from the exponential growth of data volumes that is the result of developments in IoT, big data analytics, and cloud computing. RAID solutions assist in their ability to handle and hold large volumes of information and accelerate data storage at the same time. The currently emerging data-oriented setting requires reliable and efficient storage systems such as RAID.

RESTRAINING FACTOR

"High implementation costs hinder RAID market growth, especially for SMEs"

Expenditure is an important consideration that thwarts the growth of the RAID market, as implementing RAID systems comes with a very high cost. Such costs comprise acquiring several hard drives, specialized RAID controllers, and the necessary upgrades to the physical structures. Since this is a financial consideration, it can be quite costly for most SMEs and might hinder the extent to which they implement RAID technology.

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REDUNDANT ARRAY OF INDEPENDENT DISKS (RAID) MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America leads RAID sales due to tech advancements and sector demand"

The North American region accounts for the majority of Redundant Array of Independent Disks (RAID) Market Share owing to higher technological advancements coupled with various major RAID manufacturers. Interest in data storage and management services in the IT, finance, and healthcare industries increases the market’s size. Also, the expenditures made for research and development continuously encourage the use of RAID systems. Other factors, such as regulatory standards and data protection laws, also help in the growth of the market in the region.

KEY INDUSTRY PLAYERS

"Stakeholders drive RAID market growth through innovation, R&D, and strategic partnerships"

Major stakeholders in the RAID market are striving hard to bring novelty and improvements to the development of enhanced RAID solutions. To increase the efficiency and effectiveness of data management, they heavily fund research and development. Partnerships and acquisitions add to this pool, thus increasing their market base and capacity. Besides, these players emphasize distinct solutions that can meet an industry’s requirements in order to gain a competitive advantage and, therefore, increase market reach.

LIST OF MARKET PLAYERS PROFILE

• Microsemi (U.S.)
• Broadcom(Avago Technologies) (U.S.)
• Lenovo (China)
• HP (U.S.)
• IBM (U.S.)

INDUSTRIAL DEVELOPMENT

June 12 2024: Micron Technology, a major player in computer memory and storage launched ""MicronVerse RAID Controllers"". This new product line incorporates ""NVMe-over-Fabrics (NVMe-oF) support,"" a technology that allows connecting storage devices over a high-speed network. NVMe-oF support can make these RAID controllers suitable for demanding applications like real-time data analytics and high-performance computing.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Redundant Array of Independent Disks (RAID) Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose application may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.