Storage Area Network Market Insights, Deep Analysis of Key Vendor in the Industry 2033

The global Storage Area Network (SAN) market is expected to showcase stable growth opportunities by exhibiting a CAGR of around 3.7% over the assessment period from 2023 to 2033. The global storage area network (SAN) market is expected to exceed a valuation of US$ 21,400 million in 2023 and US$ 30,800 million by 2033.

The need to store massive amounts of data among enterprises is on the rise for better performance, availability, manageability, and security of data storage assets has increased over the years. Thus, several market players are increasingly integrating advanced technologies in SAN solutions such as Fiber Channel (FC) SAN, Fiber Channel over Ethernet (FCoE) SAN, InfiniBand SAN, and iSCSI Protocol SAN.

Both hyperscale server SAN and enterprise server SAN are utilized to improve the capacity of mass storage devices (tape libraries, optical jukeboxes, and disk arrays) that have access to servers. The growth of the market is attributed to the surging IT spending in emerging economies and increasing demand for efficient data backup and storage operations.

The United States is likely to account for a prodigious CAGR of 9.6%, with a worth of US$ 1.7 billion by 2033, according to Future Market Insights, Inc. The USA is anticipated to dominate the North American market with a substantial value share in terms of consumption over the forecast period.

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Key Takeaways from the Storage Area Network (SAN) Market Report:

The introduction and adoption of hybrid SAN-NAS solutions are one of the reasons attributed to the growing trend in the global SAN market. Hybrid solutions allow companies to merge block and file-based data on a common array. Unified storage systems support files, along with block-based protocols such as FC and NFS, and HDD and flash-based storage drives.
As compared to the individual implementations, the architecture of unified storage systems is known to be more complex and is anticipated to become more simplified in the future to efficiently meet the increased demands of enterprises. Owing to these developments, a significant reduction in the dependency of enterprises on a single architecture is visible for their dynamic requirements.
Traditional means of storage data paired with critical information are known to be inefficient for current requirements and fast access to massive amounts of data is a major challenge in this scenario. Traditional SCSI (Small Computer Systems Interface) technology utilizes parallel cabling, which reduces speed, and distance and limits the number of attached storage devices.
Computing environments are drastically shifting from server-centric to data-centric models due to which efficient access to shared data resources is increasingly becoming complex. Such prolific and impressive growth in the information that ought to be stored, managed, maintained, and retrieved has compelled IT decision-makers to make storage decisions separate from server decisions. This in turn is driving the growth of the storage area networks market.

Major Key Companies:

Shibuya
Keelings
NetApp, Inc
Hewlett Packard Enterprise Development LP
Citrix Systems, Inc
QLogic Corporation
Hitachi Data Systems Corporation
Nutanix, Inc.
DataCore Software Corporation
Dell Inc.
IBM Corporation
NEC Corporation

Recent Developments in the Storage Area Network (SAN) Market:

In December 2019, DataCore Software Corporation introduced vFiIO which uses software-defined storage technology to enable data to be stored, organized, and managed not only independently of the underlying hardware, but also independently of the access method.
The next mid-range storage update is Midrange. next, was presented by Dell EMC in June 2019. The Dell mid-range storage line will be replaced by Midrange. next, which will include the Unity platform, the Dell EMC SC series, and the EqualLogic devices. The most recent architecture is said to be a brand-new design intended to include the greatest aspects of currently available storage technology.
New technologies and services from NetApp were released in June 2019 and allow customers to deploy and utilize the cloud following their terms and conditions. With this announcement, NetApp provides a hybrid multi-cloud experience that includes the debut of NetApp cloud storage services on NetApp HCI.

Storage Area Network (SAN) Market Segmentation:

By Component: