PUBLISHER: The Business Research Company | PRODUCT CODE: 1527145
PUBLISHER: The Business Research Company | PRODUCT CODE: 1527145
A storage area network (SAN) constitutes a specialized network of high-speed connectivity, facilitating the linkage of multiple servers to a centralized pool of shared storage devices, including disk arrays and tape libraries. Its purpose is to offer block-level storage access, thereby improving data transfer rates, storage scalability, and overall performance for enterprise applications.
Comprising hardware, software, and services, storage area networks encompass the physical components of computer systems, encompassing elements such as the central processing unit (CPU), memory, storage devices, and peripheral equipment. This infrastructure incorporates technologies such as fiber channel (FC), fiber channel over ethernet (FCoE), InfiniBand, internet small computer system interface (iSCSI) protocol, catering to a range of organizational sizes from small to large enterprises. SAN solutions are deployed across various industry verticals, including BFSI, IT and telecommunication, government offices, retail, e-commerce, energy and utility, aerospace and defense, education, healthcare, manufacturing, among others.
The storage area network market research report is one of a series of new reports from The Business Research Company that provides storage area network market statistics, including the storage area network industry global market size, regional shares, competitors with the storage area network market share, detailed storage area network market segments, market trends, and opportunities, and any further data you may need to thrive in the storage area network industry. These storage area network market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The storage area network market size has grown rapidly in recent years. It will grow from $22.02 billion in 2023 to $25.08 billion in 2024 at a compound annual growth rate (CAGR) of 13.09%. The growth during the historical period can be credited to a rise in regulatory demands, decreased costs in storage hardware, heightened requirements for high availability and performance, emphasis on disaster recovery and business continuity, data center consolidation efforts, and the uptake of server virtualization.
The storage area network market size is expected to see rapid growth in the next few years. It will grow to $42.41 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. During the forecast period, the anticipated growth stems from several factors, the expansion of big data and analytics, the proliferation of hybrid and multi-cloud setups, the escalating cybersecurity risks, advancements in storage technologies, and the drive towards digital transformation. Key trends expected in this period encompass heightened uptake of hyper-converged infrastructure, the widening scope of edge computing, the implementation of software-defined storage (SDS), integration of hybrid and multi-cloud environments, emphasis on sustainability and energy efficiency, as well as increased focus on automation and orchestration.
Cloud computing's increasing adoption is anticipated to drive the growth of the storage area network (SAN) market. Cloud computing offers computing services over the internet, including storage, processing power, and applications, on a pay-as-you-go basis. The surge in cloud-based solutions' adoption is fueled by their scalability, cost-effectiveness, and support for remote work and digital transformation. SAN capabilities are enhanced by cloud computing, providing scalable, on-demand storage resources accessible via the internet. This optimizes storage efficiency and flexibility while reducing infrastructure costs and management complexities. For example, in December 2023, Eurostat reported that 45.2% of EU enterprises procured cloud computing services, primarily for hosting email systems, storing electronic files, and various tasks, marking a 4% increase from 2021. Thus, the rising adoption of cloud computing is propelling the storage area network market's growth.
Key players in the storage area network market are concentrating on developing innovative solutions, such as block storage-only appliances, to streamline storage environments. These appliances are specialized solutions for providing block-level data storage in SAN environments. For instance, in May 2023, NetApp introduced the NetApp ASA A-series, the first-ever block storage-only appliance. It offers advanced data management capabilities such as data deduplication, thin provisioning, and snapshot technology, along with seamless integration into existing SAN environments and high availability for mission-critical applications.
In November 2023, Broadcom Inc. acquired VMware LLC for $61 billion, aiming to bolster its position in the cloud and SaaS markets, improve financial performance, and offer a broader range of solutions to customers. VMware LLC is a US-based cloud-based company that provides support for Storage Area Networks (SANs).
Major companies operating in the storage area network market are Dell Technologies Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Broadcom Inc., SK hynix Inc., Fujitsu Limited., Hewlett Packard Enterprise Development LP, Toshiba Electronic Devices & Storage Corporation , NEC Corporation, Texas Instruments Incorporated, Western Digital Corporation, NXP Semiconductors N.V., NetApp Inc., Marvell Technology Group Ltd., Citrix Systems Inc., Hitachi Vantara LLC, Nutanix Inc., DataCore Software Corporation, Everspin Technologies Inc., Viking Technology, StorMagic Ltd.
North America was the largest region in the storage area network market in 2023. The regions covered in the storage area network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the storage area network market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The storage area network market consists of revenues earned by entities by providing services such as virtualization services, storage migration services, and data protection services. The market value includes the value of related goods sold by the service provider or included within the service offering. The storage area network (SAN) market also includes sales of SAN switches, SAN cables, and transceivers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Storage Area Network Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on storage area network market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for storage area network ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The storage area network market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.