The global storage accelerator market value was US$ 10.70 billion in 2020. The global storage accelerator market is forecast to reach US$ 154.92 billion by 2030, with a growing compound annual growth rate (CAGR) of 26.9% during the forecast period from 2021-2030.

The storage accelerator consists of a high-performance solid-state storage subsystem implemented as a PCIe card. Typically, a storage accelerator uses fast solid-state memory as its storage medium, eliminating the mechanical latency and slow read/write performance of traditional mechanical storage devices.

Factors Influencing Market Growth

The global storage accelerator market will grow primarily due to the increasing penetration of connected factories, smart cities, AI-centric data centers, and related digital age technologies.

The increasing number of companies offering machine learning as a cloud service and increasing applications in voice recognition, fraud detection, voice search, recommendation engines, sentiment analysis, image recognition, motion detection, & others are forecast to drive the market during the forecast period.

A major slowdown of the global storage accelerator industry is due to the high cost of AI hardware.

The demand to accelerate deep learning, artificial intelligence, and high-performance computing workloads among enterprises is forecast to create lucrative opportunities for storage accelerator manufacturers.

Impact Analysis of COVID-19

The COVID-19 pandemic had affected the global economy but the outbreak has positively impacted the global storage accelerator market. The use of AI and cloud computing has increased owing to the pandemic. The emergence of artificial intelligence across a wide range of industries, such as the automobile, consumer electronics, medical, and education, has enhanced consumer perception and expectations regarding AI technology. A number of field-programmable gate arrays (FPGAs) are being developed for cloud server inference applications in order to improve security and speed up computing.

In the post-COVID-19, manufacturers are making many strategic decisions to reclaim their original market share. Several companies are engaged in research and development activities to improve the technology involved in data center accelerators. Therefore, companies are developing more advanced technology to increase market share and to be recognized by clients. The companies are also acquiring technology businesses to expand their reach. Thus, it is forecast that the global storage accelerator market will have tremendous growth.

Regional Insights

In 2020, North America dominated the market. The region is expected to remain dominant during the forecast period due to an increase in data center servers. Asia-Pacific is likely to grow by the end of the forecast period as more companies deploy hybrid clouds here. Companies adopt on-premise, third-party, co-location, private cloud, hosted cloud, and public cloud depending on the workloads, the legacy decisions made by the team, budgets, and technology maturity within the company.

Leading Competitors

The leading prominent companies in the global storage accelerator market are:

Cisco Systems Inc.
IBM Corporation
Intel Corporation
Kingston Technology Corp.
Micron Technology, Inc.
NVIDIA Corporation
Qualcomm Technologies, Inc.
Samsung Electronics Co. Ltd.
Seagate Technology PLC
Toshiba Corp.
Other Prominent Players
Scope of the Report

The global storage accelerator market segmentation focuses on Processor Type, Technology, Enterprise Size, Application, and Region.

Segmentation based on Application

High-Performance Computing
Data Center Servers
Others
Segmentation based on Processor Type

CPU
GPU
ASIC
FPGA
Low-end FPGA
Mid-range FPGA
High-end FPGA
Segmentation based on Technology

NAND Flash Memory
Erasable Programmable Read Only Memory (EPROM)
Others
Segmentation based on Enterprise Size

Small Enterprises
Medium Enterprises
Large Enterprises
Segmentation based on Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America