Storage Area Network Market Forecast to Reach $17.9 Billion by 2026

Globally Advancement of Technology and Business Operations, and Low Upgradation Cost Are the Prime Growth Drivers of Storage Area Network Market.

Hyderabad, India – July 13, 2021 /MarketersMedia/ —

The Global Storage Area Network (SAN) Market is forecast to reach $17.9 billion by 2026, growing at a CAGR of 2.5% from 2021 to 2026. The market growth is attributed to the factors such as growing deployment of cloud-based Direct-Attached Storage (DAS) system, rising growth of advanced technologies such as IoT, AI and many others along with providing increased work productivity across different industries. Moreover, growing investments from various sectors towards infrastructure development are also booming the market growth.

Storage Area Network Market Segment Analysis – By Technology type

Storage area network market is segmented into Fibre Channel (FC), Fibre Channel over Ethernet (FCoE), InfiniBand, iSCSI Protocol, others on the basis of technology. The market of Fibre Channel over Ethernet (FCoE) is anticipated to hold the highest market growth during the forecast period 2021-2026 at 4.4% CAGR. FCoE makes an adaptive strategy to I / O consolidation by retaining all Fibre Channel constructions, keeping the bandwidth, protection and traffic control characteristics of Fibre Channel while keeping investments in Fibre Channel resources, training and SANs.

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Storage Area Network Market Segment Analysis – By Organisation size

Large enterprises is anticipated to witness the significant market growth during the forecast period 2021-2026 at 3.5% CAGR. The market growth is owing to the benefits that users deploy including faster backups, improved scalability, clustered file storage increased data security and others. Local Area Network-based network attached storage networks are often subject to bandwidth limitations, which minimise efficiency and increase the time it takes to complete basic tasks and transfers. If the SAN takes away a significant portion of your network traffic, the burden on your Local Area Network’s bandwidth decreases.

Storage Area Network Market Segment Analysis – By Geography

North America held the highest market share in 2020 at 37%. Market growth is attributed to factors such as technological advances, increased demand for energy-efficient appliances and increased demand for high-speed connectivity in the area. The region also has a well-established infrastructure which allows easy implementation of advanced technologies and provides better connectivity.

North America, which has prominently taken the lead on various technological developments such as smart homes, smart cities, Internet of Things (IoT), big data and consumer electronics; has emerged as the nucleus for Storage area network market demand. Market for SAN solutions is expected to grow in Europe, Asia-Pacific, as a number of organisations are rising around these areas, such as the technology adoption.

Storage Area Network Market Drivers

Technological advancements

With rapid technological growth, there is rise of structured as well as unstructured data in the market. Large enterprises as well as small scale businesses both require a flexible data storage management system to store their huge amounts of data securely. Rising technological advancements such as adoption of cloud, IOT and many others are significantly contributing towards higher growth of storage area network market.

Implementation of FCoE

The new implementation of support for FCoE with 10GBASE-T infrastructure allows data centres to offer lightweight physical cabling while adopting either protocol at a much lower cost. Fibre Channel over Ethernet (FCoE) software reduces necessity for parallel networking and storage networks, minimising costs and complexities. While FCoE is yet to become the cornerstone, its capacity to seamlessly communicate with established FC storage area networks will in the near future widen its functionality capability.

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Storage Area Network Market Challenges

Interoperability issues

Several standards have been developed for fibre channel technologies. Different implementations of these specifications by manufacturers have contributed to the creation of devices that often cannot operate together on the same network. Such interoperability-related problems would be a major problem for businesses in the storage area network market.

Storage Area Network Market Landscape

Storage area network market is consolidated with the top players including Dell Technologies Inc., IBM Corporation, Oracle Corporation, Hitachi Ltd., Huawei Technologies Co., Ltd., NetApp, Inc., NEC Corporation, Hewlett Packard Enterprise, Pure Storage, Inc., Fujitsu Limited and among others.

Acquisitions/Technology Launches/Partnerships

In June 2019, Dell EMC unveiled “Midrange.next,” the forthcoming mid-range storage upgrade. Midrange.next, including its Unity platform, the Dell EMC SC series, and Dell’s EqualLogic products, is set to replace Dell’s mid-range storage line. A new ground-up architecture meant to incorporate the best of existing storage technologies is supposed to be the latest architecture.

In June 2019, NetApp introduced new technologies and services that allow clients to implement and access cloud under their own terms and conditions. NetApp is offering a hybrid multicloud experience with this announcement that includes the launch of NetApp cloud storage services on NetApp HCI.

Key Takeaways

With large industries facing problems for storing their massive amounts of data, deployments on data centres can help them majorly in successfully managing sensitive company information systematically.

North American region dominated the global Storage area network market in 2020 owing to the presence of advanced technologies, large number of manufacturers and the increasing business demands for Storage area network.

Related Reports

A. Server Storage Area Network (San) Market
https://www.industryarc.com/Research/Server-Storage-Area-Network-Market-Research-500636

B. Network-attached Storage Market
https://www.industryarc.com/Research/Network-attached-Storage-Market-Research-505310

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