Global Storage Area Network Market Size To Grow At A CAGR Of 4.10% In The Forecast Period Of 2023-2028
The ‘Global Storage Area Network Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global storage area network market, assessing the market based on its segments like components, technologies, organisation sizes, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Storage Area Network Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.10%
A storage area network or SAN refers to an autonomous and fast network that connects and provides storage devices to several servers. A SAN is generally built with electric wiring, host bus connectors, and SAN switches linked to the storage arrays and servers.
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The reduced costs of data centre infrastructure and the growing digital economy are bolstering the global storage area network market. As companies are storing their data in digital records, the demand for storage area network solutions is significantly increasing.
With increasing focus to enhance operational flexibility, small and medium-sized businesses are utilising SAN owing to its benefits like high performance, scalable storage, and versatility.
The increasing use of e-commerce platforms by businesses is driving the deployment of SANs to store significant data in databases, enhance the accessibility to data, and increase its overall efficiency.
Storage Area Network Industry Definition and Major Segments
A storage area network or SAN can be defined as a dedicated and high-speed network that delivers the network with access to various storage devices. SANs are commonly made of hosts, switches, storage elements, and storage devices that are connected to each other by the usage of various technologies and conventions. SANs can extend over numerous spots.
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Based on components, the global storage area network market can be segmented into:
The market, on the basis of technologies, is classified into:
• Fibre Channel (FC)
• Fibre Channel over Ethernet (FCoE)
• iSCSI Protocol
By organisation sizes, the market is divided into:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
Based on end uses, the market is segmented into:
• Retail and E-Commerce
• IT and Telecommunication
• Energy and Utility
• Government Offices
• Aerospace and Defence
The major regions in the market include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Storage Area Network Market Trends
The lowering costs of network infrastructure and data facilities is pushing the global storage area network market. Several IT organisations are also utlising SAN solutions to advance their network systems while boosting their cost-efficiency.
Several benefits, like improved accessibility and enhance adaptability of the network are likely to provide lucrative growth opportunities to the global storage area network market.
The rapid growth of the e-commerce sector owing to the rising number of online customers is driving the use of SAN to save critical data in databases while enhancing its competency and accessibility across connected devices.
Owing to the existence of a substantial number of data centres to manage the data, the North American storage area network market is expected to observe a considerable growth in upcoming years. Meanwhile, with the growing e-commerce sector in Asia Pacific, particularly in China, the usage of SAN systems within the region is expected to increase in the forecast period.
Key Market Players
The major players in the global storage area network market are:
• HP Inc.
• Dell Technologies Inc.
• IBM Corporation
• Oracle Corporation
• Cisco Systems, Inc.
• NEC Corporation
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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