According to a recent study done by FMI, the Ethernet Storage Fabric market is expected to reach US$ 5.4 billion by 2032, up from US$ 1.6 billion in 2022, expanding at a high CAGR of 13.2%. This study explains that the growth in the demand to adopt enterprise mobility is expected to achieve operational efficiency in different enterprises, which will further accelerate the market value.
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The rise in the adoption of simplified data center management services, especially by small and medium scale enterprises is another factor bolstering the growth of the market. The growing volume of organizational data will further carve the way for the growth of the market. The major growth rate of the ethernet storage fabric market is due to the growing demand for high bandwidth, performance, and scalability in enterprise and cloud service provider data center. In addition, the rise in the number of businesses and their data has mandated data storage.
As a result, businesses are turning to innovative storage technologies like Ethernet storage fabric and big data. As the number of businesses grows, so does the volume of data. Data centers and Ethernet storage fabric are becoming more important as a result of this which will drive the market for Ethernet storage fabrics. Increased focus on the technological advancements and rapid increase in the rate of preference by the various verticals will emerge as the major market growth driving factors.
Key Takeaways from the Market Study
- Global Ethernet Storage Fabric Market was valued at US$ 1.6 Bn by 2022-end
- China to account for the highest value share of US$ 0.4 Bn of global market demand for Ethernet Storage Fabric Market in 2032
- From 2015 to 2021, ethernet storage fabric demand expanded at a CAGR of 15.4%
- By Application, Enterprise Data Center constitutes the bulk of ethernet storage fabric deployment with a CAGR of 14.0%.
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Players in the global Ethernet Storage Fabric Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:
- In August 2021, Arista Networks announced an expansion of its cloud-grade routing solutions that extends its products to the edge. The company had added new features to its EOS operating system to enable its products to be used as edge routers, including new capabilities for virtual private networks (VPN) and traffic engineering.
- In May, 2021, Juniper Networks took intent networking to the next level with new Apstra Software to simplify deployment and Day 2 operations in even more data center environments.
- In April 2021, Marvell extended automotive networking leadership with a launch of 802. 3ch 10G ethernet PHY.
More Insights Available
Future Market Insights offers an unbiased analysis of the global Ethernet Storage Fabric Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Ethernet Storage Fabric Market, the market is segmented on the basis of storage type, device, switching port, and application, across five major regions.
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