Storage Area Network (SAN) Market is set to enjoy a valuation of US$ 19,576 Mn in 2021, and further expand at a CAGR of 3.9% to reach US$ 26,867 Mn by the year 2029.
The growing demand for data recovery capabilities in various sectors such as IT & telecom, BFSI and healthcare is exploring the growth of the storage area network (SAN) market . The banking, financial services and insurance (BFSI) and IT and telecom sectors will remain the major revenue propellers for the storage area network market. A SAN, along with load balancing, enables the operation of cluster and master applications concurrently. This configuration is typically used for business-critical applications such as banking systems.
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Key Takeaways of Storage Area Network Market Study
- North America is expected to hold a significant share in the global storage area network market during the forecast period.
- Fiber Channel (FC) is expected to hold a significant share in the global SAN market among all technologies during the forecast period.
- By component, the hardware segment is anticipated to retain its significant share in the global storage area network market during the forecast period. This due to the fact that, SANs leverage the high-performance Fiber Channel I/O and consist of a series of hardware components.
- The demand for hypercscale server SAN is estimated to grow at an impressive CAGR. However, enterprise server SAN is estimated to continue to hold significant market share in the global storage area network market during the forecast period.
Increasing Demand for Efficient Data Backup Management to Propel Sales
In the traditional approach of data backup, various backup and restore functions occur over the LAN, which are typically slow and severely impact the efficiency of the whole operation. In contrast, in a server-less data backup solution (SAN approach), data moves seamlessly across the SAN to tape devices, as it does not utilize critical server I/O or CPU resources. This factor is expected to drive the growth of the global storage area network market over the coming years.
More Valuable Insights on Storage Area Network Market
Future Market Insights offers an unbiased analysis of the global storage area network market, providing historical data of 2014-2021 and forecast statistics for the period of 2022-2029. To understand the opportunities in the SAN market, the market has been segmented on the basis of component (Hardware, Software, and Services), SAN type (Hypercscale Server SAN and Enterprise Server SAN), technology (Fibre Channel (FC), Fibre Channel Over Ethernet (FCOE), InfiniBand, and iSCSI Protocol), and vertical (BFSI, IT & Telecom, Energy & Utility, Government, Military & Defense, Healthcare, Manufacturing, Retail & e-Commerce, and Others), across seven major regions.
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SAN Market Outlook by CategoryBy 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
Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
- GCC Countries
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