The global storage area network (SAN) market is anticipated to reach USD 21,400 million in 2023. The demand for storage area network (SAN) is projected to grow at a CAGR of 3.7% to reach a valuation of USD 30,800 million by 2033.
Due to the rising usage of mobile computing devices such as tablets, smartphones, and laptops, there will be an increase in the digitization of information in business and residential locations, which will accelerate market growth. Additionally, the market growth is positively impacted by the rise in digital information creation across several business verticals, including BFSI and retail, among others.
Along with the expansion of small and medium-sized businesses (SMEs) worldwide, storage area network (SAN) adoption is rising. Storage area networks (SANs) are widely used in small businesses due to their benefits including centralized power, cloud resources, and flexibility. These elements are projected to accelerate market expansion. Nearly 99% of all businesses worldwide are small or medium-sized ones (SMEs).
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Since eCommerce websites are being used more frequently, consumers are using online channels more frequently. In this case, storage area network (SAN) solutions are typically used to store vital data and information in databases with high traffic to improve performance and efficiency.
Due to the rising usage of mobile computing devices such as tablets, smartphones, and laptops, there will be an increase in the digitization of information in business and residential locations, which will accelerate market growth. Additionally, the market growth is positively impacted by the rise in digital information creation across several business verticals, including BFSI and retail, among others.
The use of cloud computing is being supported by the increased acceptance of the internet of things (IoT) in several industries, including manufacturing and retail, healthcare, and others. This will generate enormous prospects for the growth market between 2023 and 2033.
Key Takeaways from the Storage Area Network (SAN) Market:
- Storage area network (SAN) industry revenues in the United States are anticipated to grow at a CAGR of around 2.6% between 2023 and 2033, with sales expected to reach USD 7.3 Bn by that year.
- Japan is expected to continue to be one of the APAC region’s most alluring storage area networks (SAN) marketplaces, with a market value forecast to exceed USD 1.3 Bn by 2033.
- The market in Japan is projected to expand at a CAGR of 3.2% between 2023 and 2033.
- Storage area network (SAN) sales in India are anticipated to expand significantly between 2023 and 2033, with a CAGR of 6.1%.
- The Indian market is expected to provide an absolute USD 1.8 billion potential between 2023 and 2033.
- In terms of components, the hardware market is anticipated to rise by 3.2% between 2023 and 2033. Additionally, by 2033, the software segment is predicted to rise 1.4X.
- By technology, the Fibre Channel (FC) category now holds a commanding market share of 64.5% and is projected to increase at a CAGR of 3.0% through the year 2033.
- The BFSI category is likely to be dominant, and by 2033, market size is anticipated to rise by up to 1.3X.
- The fastest increase is anticipated in IT & telecom, with a CAGR of 4.8% from 2023 to 2033.
- Enterprise server SAN type is anticipated to see significant market growth at a 3.8% CAGR over the anticipated period.
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Who is Winning?
Product launches, partnerships, and acquisitions are the main methods used by market participants in the storage area network market.
Some of the leading players in the storage area network market are:
- Shibuya
- Keelings
- NetApp, Inc
- Hewlett Packard Enterprise Development LP
- Citrix Systems, Inc
- QLogic Corporation
- Hitachi Data Systems Corporation
- Nutanix, Inc.
- DataCore Software Corporation
- Dell Inc.
- IBM Corporation
- NEC Corporation
Recent Developments in the Storage Area Network (SAN) Market:
- A software-defined storage technique called vFiIO was launched by DataCore Software Corporation in December 2019. It allows data to be structured, managed, and stored independently of the underlying hardware as well as independent of the access mechanism.
- In June 2019, NetApp introduced new products and services that enable users to deploy and use the cloud following their terms and conditions. With the release of this news, NetApp offers a hybrid multi-cloud experience that includes the introduction of NetApp cloud storage services on NetApp HCI.
- In June 2019, Dell EMC unveiled “Midrange.next,” the upcoming mid-range storage upgrade. Midrange. next, which includes the Unity platform, the Dell EMC SC series, and the EqualLogic devices, will take the place of the Dell mid-range storage line. According to reports, the most recent architecture is a completely new design that aims to include the best features of currently available storage technology.
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Storage Area Network (SAN) Outlook by Category
By Component:
- Hardware
- Software
- Services
- Consulting
- System Integration
- Support & Maintenance
By SAN Type:
- Hypercscale Server SAN
- Enterprise Server SAN
By Technology:
- Fibre Channel (FC)
- Fibre Channel Over Ethernet (FCoE)
- InfiniBand
- iSCSI Protocol
By Vertical:
- BFSI
- IT & Telecom
- Energy & Utility
- Government
- Military & Defense
- Healthcare
- Manufacturing
- Retail & e-Commerce
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan(APEJ)
- Japan
- Middle East and Africa (MEA)
- GCC Countries
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