PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358131
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358131
The global storage area network (SAN) market is estimated at US$ 17.46 Billion in 2023, and is projected to reach US$ 25.48 Billion by 2030, exhibiting a CAGR of 5.5% over the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 17.46 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.50% | 2030 Value Projection: | US$ 25.48 Bn |
A storage area network refers to a high-speed network that interconnects and presents a shared band of storage devices to various servers. SANs are typically helpful in backup and disaster recovery settings. SANs are used to enhance the capacity of mass storage devices such as optical jukeboxes, tape libraries, and disk arrays that have access to servers. Increasing volumes of critical data being accumulated in the global business environment have led to an increased need for better performance, manageability, availability, and security of data storage assets among enterprises. Furthermore, many enterprises are focused on implementing specialized storage networks that can aid businesses in attaining operational efficiencies.
Previously, in a conventional approach, local area network (LAN) was used for data backup and restore functions that are particularly slow and significantly impact the efficiency of the whole operation. On the contrary, in the SAN approach, data moves smoothly across the SAN to tape devices as it does not utilize critical server I/O or CPU resources. Several issues can be improved with the integration of high-performance backup and restore capabilities with data availability and device sharing. This includes performance degradation, extended downtime periods, and shrinking backup windows. However, the increase in overall server efficiency with server-less backup offered by SAN architecture is fueling adoption of SAN across various verticals. Thus, these factors are expected to drive growth of the market in the near future. Increasing usage of SANs among small and medium-sized enterprises (SMEs) is expected to boost the market growth, especially in emerging economies. This adoption of SANs among smaller organizations is mainly driven by the benefits offered by SANs such as flexibility, shared storage, and centralized control, in order to share capacity between multiple hosts. As a result of this, major SAN solution providers are constantly focused on products that are easy to use and cost-effective for smaller enterprises, which in turn, is expected to boost the global storage area network (SAN) market growth over the forecast period.