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 market for storage area networks (SANs) is expected to increase as a result of the rising need for data recovery capabilities across a number of industries, including IT & telecom, BFSI, and healthcare. The key income generators for the storage area network market will continue to be the banking, financial services and insurance (BFSI), IT, and telecom industries. The simultaneous running of cluster and master apps is made possible by a SAN and load balancing. Business-critical applications, such banking systems, frequently adopt this setup.
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Key Takeaways of Storage Area Network Market Study
- During the forecast period, North America is anticipated to account for a sizable portion of the global storage area network market.
- Among all technologies, Fiber Channel (FC) is anticipated to account for a sizeable portion of the worldwide SAN market over the forecast period.
- During the projection period, it is predicted that the hardware sector will continue to have a sizable market share in the global storage area network market. This is because SANs use high-performance Fiber Channel I/O and are made up of many hardware elements.
- An excellent CAGR is predicted for the need for hyperscale server SAN. However, it is anticipated that over the projection period, enterprise server SAN would continue to retain a sizable market position in the global storage area network market.
Increasing Demand for Efficient Data Backup Management to Propel Sales
The conventional method of data backup involves a number of LAN-based backup and restore operations, which are frequently sluggish and have a negative influence on the overall effectiveness of the process. In contrast, data transfers effortlessly across the SAN to tape devices in a server-less data backup system (SAN method) since it does not use vital server I/O or CPU resources. Over the ensuing years, this element is anticipated to fuel the worldwide storage area network market’s expansion..
More Valuable Insights on Storage Area Network Market
With historical data from 2014 to 2021 and projections for the years 2022 to 2029, Future Market Insights provides an unbiased study of the worldwide storage area network market. For the purpose of analysing the market’s opportunities, the SAN market has been divided into seven key regions based on 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,
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SAN Market Outlook by CategoryBy Component :
- Hardware
- Software
- Services
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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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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