Pure Storage Named a Leader in the 2024 Gartner® Magic Quadrant™ for Primary Storage Platforms

Rhea-AI Summary

Pure Storage (NYSE: PSTG) has been recognized as a Leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms, positioned highest on the Ability to Execute axis and furthest on the Completeness of Vision axis. This marks the fifth consecutive year Pure Storage has held this position and the eleventh consecutive year as a Gartner Magic Quadrant Leader.

The Pure Storage Platform has introduced several innovations over the past year, including:

• First Purpose-Built AI Storage-as-a-Service: Evergreen//One for AI
• First-of-its-Kind Storage Automation: Pure Fusion
• First Generative AI Copilot for Storage
• Intelligence-Driven Security Assessment
• Industry-First Paid Power and Rack Commitment

Pure Storage's platform aims to address challenges in scaling AI initiatives, defending against cyber threats, and managing energy consumption.

Positive

• Recognized as a Leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms
• Positioned highest on Ability to Execute and furthest on Completeness of Vision axes
• Fifth consecutive year of highest and furthest positioning in the report
• Eleventh consecutive year as a Gartner Magic Quadrant Leader
• Introduction of innovative features like AI Storage-as-a-Service and Generative AI Copilot for Storage
• High customer satisfaction with 4.8 out of 5 Overall Rating on Gartner Peer Insights

Negative

• None.

Insights

Technology Analyst

Pure Storage's leadership position in Gartner's Magic Quadrant for the 11th consecutive year is a significant achievement in the highly competitive storage market. This recognition underscores the company's consistent innovation and ability to meet evolving enterprise needs.

The introduction of Evergreen//One for AI is particularly noteworthy, as it addresses the growing demand for AI-specific storage solutions. This performance-based pricing model could be a game-changer, potentially reducing upfront costs for businesses scaling their AI initiatives.

Pure's focus on sustainability, evidenced by their power and rack space commitment, aligns with increasing corporate environmental concerns. This could be a key differentiator in winning contracts, especially with large enterprises under pressure to reduce their carbon footprint.

However, investors should monitor how Pure Storage maintains its edge in a rapidly evolving market, particularly as competitors catch up in areas like AI-optimized storage and sustainability initiatives.

Financial Analyst

Pure Storage's consistent leadership in Gartner's Magic Quadrant is likely to have a positive impact on sales and market share. The company's position as the highest in both Ability to Execute and Completeness of Vision axes suggests strong potential for revenue growth and market expansion.

The introduction of new services like Evergreen//One for AI and Pure Fusion could drive increased adoption and potentially higher average revenue per customer. The shift towards performance-based pricing models may also lead to more predictable revenue streams.

Pure's commitment to covering power and rack space costs through Evergreen//One is a bold move. While it may impact margins in the short term, it could lead to increased customer loyalty and larger contract values over time.

Investors should watch for the financial impact of these new offerings and commitments in upcoming quarterly reports, particularly focusing on gross margins and customer acquisition costs.

Market Research Analyst

Pure Storage's continued leadership in the Gartner Magic Quadrant indicates strong market positioning and customer satisfaction. The 4.8 out of 5 overall rating and 98% recommendation rate on Gartner Peer Insights are particularly impressive, suggesting high customer loyalty and potential for positive word-of-mouth marketing.

The company's focus on AI, cyber resilience and sustainability aligns well with current market trends. The introduction of the first generative AI copilot for storage demonstrates Pure's commitment to staying ahead of the curve in terms of technological innovation.

Pure's strategy of offering a unified storage platform with flexible as-a-service options caters to the growing demand for hybrid and multi-cloud solutions. This approach could help the company capture a larger share of the enterprise market, which is increasingly looking for seamless integration between on-premises and cloud storage.

However, as the storage market becomes more commoditized, Pure will need to continue differentiating itself through innovation and superior customer experience to maintain its market position.

Latest recognition marks eleventh consecutive year of Pure Storage being recognized as a Gartner Magic Quadrant Leader

SANTA CLARA, Calif., Sept. 20, 2024 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced it has been recognized by Gartner as a Leader in the Magic Quadrant for Primary Storage Platforms, positioned highest on the Ability to Execute axis and furthest on the Completeness of Vision axis. The latest recognition by Gartner marks the fifth consecutive year that Pure Storage has been positioned highest and furthest in this report, as well as the eleventh consecutive year as a Gartner Magic Quadrant Leader.

Industry Significance:

Enterprises are grappling with a range of challenges: from scaling AI initiatives, to defending against evolving cyber threats, to managing energy consumption. Traditional IT infrastructure has proven to be inadequate, riddled with inflexible storage solutions that can't keep up with rapid technological advancements and performance needs. This lack of agility hampers AI growth and heightens vulnerability to sophisticated cyberattacks, while increasing energy costs and power demands add further strain. To tackle these challenges, businesses require a modernized data infrastructure that provides the agility, reliability, and efficiency necessary for effective solutions.

Platform Momentum:

The Pure Storage Platform delivers unmatched agility and risk reduction with a simple, unified storage platform and flexible as-a-service experience for the broadest range of use cases - from on-premises to the public cloud to hosted environments. Central to the platform, the often imitated but never duplicated Evergreen® architecture ensures continuous, non-disruptive upgrades, enabling enterprises to quickly adapt in today's dynamic business landscape. With the industry's most comprehensive set of concurrent SLAs, customers get the reliability, performance, and energy efficiency required to modernize their businesses.

The Pure Storage Platform has introduced several innovations and industry-first milestones over the past year to help organizations accelerate their AI initiatives, improve cyber resiliency and address today's pressing power challenges, including:

• First Purpose-Built AI Storage-as-a-Service: Evergreen//One™ for AI guarantees storage performance for GPUs to support training, inference, and HPC workloads, extending Pure's position for capacity subscriptions, and introduces the ability to purchase based on dynamic performance and throughput needs. This unique SLA eliminates the need for planning or overbuying.
• First-of-its-Kind Storage Automation: Pure Fusion™ seamlessly integrates and optimizes storage pools for both structured and unstructured data, across on-premises and cloud environments. Embedded in the Purity operating system, Fusion will soon be available across the entire Pure Storage Platform to all global customers.
• First Generative AI Copilot for Storage: Raising the bar again for simplicity, the industry's first generative AI copilot for storage represents a radically new way to manage and protect data using natural language. This leverages data insights from tens of thousands of customers to guide storage teams through every step of complex and unforeseen performance and management issues and staying ahead of security incidents.
• Intelligence-Driven Security Assessment: The assessment provides deep visibility into fleet-level security risks and offers actionable insights to maximize cyber resilience. Based on aggregated intelligence across 10k+ environments, it delivers numerical scores to benchmark an entire storage fleet's security posture, while also offering best practices to align with NIST 2.0 standards, advance regulatory compliance, remediate potential security anomalies, and rapidly restore operations. Pure's AI copilot leverages the assessment to provide CISOs the ability to benchmark security posture against other Pure customers.
• Industry-First Paid Power and Rack Commitment: Pure Storage pays for its customers' power and rack space through Evergreen//One, taking responsibility for the associated costs of power and rack unit to run our offerings. As AI workloads become increasingly power-hungry and data center demands surge, Pure's paid power and rack solution—combined with 10x lower power consumption—helps IT manage rising electricity costs and space constraints more efficiently.

Customer Experience:

As of September 20, 2024, Pure Storage has an Overall Rating of 4.8 out of 5 in the Primary Storage Platforms market, with 98% of reviewers willing to recommend, based on 617 reviews on Gartner Peer Insights™. Hear from our customers:

• "My experience with Pure has been nothing but positive. I have been using their storage platforms for over 3 years and never had a negative experience with the product or customer service. It's been the best storage solution I have ever worked with." ($1B-$3B USD Telecommunications Company Review)
• "Pure not only provides an amazing product, but also an excellent customer experience. They are truly partners and assist to no end to ensure you are using their product to its fullest." ($10B-$30B USD Healthcare and Biotech Company Review)
• "A green choice that makes a lot of sense. Working with Pure is just easy. The account team is available and very knowledgeable, and support is easy to reach and work with any day/time. There are multiple failsafes built-in and upgrades are non-disruptive." ($50M - $250M USD Banking Company Review)

Executive Insight:

"Pure Storage delivers the industry's most integrated and powerful storage platform, all under one consistent operating system and control plane. While legacy storage vendors add complexity, we've focused on simplifying data management by delivering a true, consistent data experience inclusive of our SLA-driven storage-as-a-service. The Pure Storage Platform empowers our customers to seize the opportunities of tomorrow, from AI and cyber resiliency to sustainability." – Charles Giancarlo, Chief Executive Officer, Pure Storage 

About Gartner Magic Quadrant

Magic Quadrant™ reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables organizations to get the most from market analysis in alignment with their unique business and technology needs.

To learn more, access the full 2024 Gartner Magic Quadrant for Primary Storage Platforms report on Pure Storage's website.

Analyst Recognition:
A Leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms
A Leader in the 2023 Gartner Magic Quadrant for Distributed File Systems & Object Storage

Gartner Disclaimer

Gartner, Magic Quadrant for Primary Storage, Jeff Vogel, Chandra Mukhyala, 17 September 2024

Magic Quadrant for Primary Storage Platforms was previously known as Magic Quadrant for Solid State Arrays from 2014 to 2018 and was called Magic Quadrant for Primary Storage Arrays in 2020.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Pure Storage

Pure Storage (NYSE: PSTG) delivers the industry's most advanced data storage platform to store, manage, and protect the world's data at any scale. With Pure Storage, organizations have ultimate simplicity and flexibility, saving time, money, and energy. From AI to archive, Pure Storage delivers a cloud experience with one unified Storage as-a-Service platform across on premises, cloud, and hosted environments. Our platform is built on our Evergreen architecture that evolves with your business – always getting newer and better with zero planned downtime, guaranteed. Our customers are actively increasing their capacity and processing power while significantly reducing their carbon and energy footprint. It's easy to fall in love with Pure Storage, as evidenced by the highest Net Promoter Score in the industry. For more information, visit www.purestorage.com.

Pure Storage, the Pure Storage P Logo, Pure Fusion, Evergreen, Evergreen//One and the marks on the Pure Storage Trademark List are trademarks or registered trademarks of Pure Storage Inc. in the U.S. and/or other countries. The Trademark List can be found at purestorage.com/trademarks. Other names may be trademarks of their respective owners.

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SOURCE Pure Storage

FAQ

What recognition did Pure Storage (PSTG) receive in the 2024 Gartner Magic Quadrant?

Pure Storage was recognized as a Leader in the 2024 Gartner Magic Quadrant for Primary Storage Platforms, positioned highest on the Ability to Execute axis and furthest on the Completeness of Vision axis.

How many consecutive years has Pure Storage (PSTG) been a Gartner Magic Quadrant Leader?

Pure Storage has been recognized as a Gartner Magic Quadrant Leader for eleven consecutive years.

What is Pure Storage's (PSTG) new AI-related offering mentioned in the press release?

Pure Storage introduced Evergreen//One for AI, which is described as the First Purpose-Built AI Storage-as-a-Service, guaranteeing storage performance for GPUs to support training, inference, and HPC workloads.

What is Pure Storage's (PSTG) customer rating on Gartner Peer Insights as of September 20, 2024?

As of September 20, 2024, Pure Storage has an Overall Rating of 4.8 out of 5 in the Primary Storage Platforms market on Gartner Peer Insights, with 98% of reviewers willing to recommend.