The global multiprotocol storage market is expected to reach US$ 56782.3 million by 2032, growing at a CAGR of 4.8% over the forecast period. It is expected to hold a share of US$ 35677.2 million in 2022. (2022-2032).
Due to the digital revolution occurring in a number of services, including R&D & Testing, Information Technology (IT), Telecom, and Internet, the worldwide multiprotocol storage market is anticipated to have considerable expansion over the forecast period.
Multiprotocol storage products helps in adapting various application requirements by integrating block-based access using serial-attached SCSI (SAS), Fibre Channel and iSCSI, along with network attached storage (NAS) or file-based access using NFS and CIFS for file sharing in a solution package. Multiprotocol storage assists in planning overall storage capacity consumption, and provides support for server virtualization initiatives.
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It also offers a gateway approach, allowing enterprises to add a speciality file server to a storage system they already own, which results in extending the useful life of system and balanced usage of asset.
Multiprotocol Storage Market: Drivers and Restraints
Factors such asreduced hardware requirements, lower capital expenditures for the enterprise, simple and centralized management of storage administration tasks compared to separate products, improved data availability and performance, and increased connectivity and utilization resulting in stable operational processes are driving the growth of multiprotocol storage market.
However, factors such as operational control limitations leading to reduced or variable storage performance, requirement of data backup strategy to avoid performance issues are hindering the growth of multiprotocol storage market.
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What are the Driving Factors in the Multiprotocol Storage Market?
The upsurge in the utilization of the merchandise over the course of the last 10 years and the utilization patterns are supposed to be the significant factors emphatically affecting the development of the worldwide multiprotocol stockpiling market through 2022-2032.
Multiprotocol capacity market development is being driven by variables, for example, decreased equipment necessities, lower capital consumptions for the undertaking, simpler and more unified administration of capacity organization assignments, and more steady functional cycles.
A few variables are ruining the development of the multiprotocol stockpiling market. These incorporate functional control impediments, which cause decreased or variable capacity execution, and reinforcement techniques that are expected to stay away from execution issues.
Who are the Key Players in the Multiprotocol Storage Market?
Some of the key players in the multipurpose storage market are IBM Corporation, Cisco, NetApp, NTT Communications Corporation, EMC Corporation, Avere, Hewlett-Packard, and Zadara Storage.
The key companies are channelizing their capital towards the development of new products through intrinsic research and development activities. In addition to this, established players are promoting the use of multiprotocol storage by providing platforms for the development of IP SANs and NAS Systems.
IBM Storage Networking has designed a solution to scale to large enterprise deployments through scale-out server architecture with automated failover capability. These capabilities provide a resilient management system that centralizes infrastructure and path monitoring across geographically dispersed data centres.
Key Segments
By Type:
- Network Attached Storage
- Storage Area Network
- Computed Storage
By Segment:
- Public Cloud
- Hybrid Cloud
- Private Cloud
By Application:
- BFSI
- Healthcare
- Logistics
- Retail & E-Commerce
- Media & Entertainment
- Manufacturing
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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