Storage Area Network Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

The Business Research Company’s Storage Area Network Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UK, July 25, 2024 /EINPresswire.com/ -- The storage area network market has experienced robust growth in recent years, expanding from $22.02 billion in 2023 to $25.08 billion in 2024 at a compound annual growth rate (CAGR) of 13.09%. The growth in the historic period can be attributed to increasing regulatory requirements, cost reduction in storage hardware, high availability and performance needs, disaster recovery and business continuity, data center consolidation, and adoption of server virtualization.

Strong Future Growth Anticipated
The storage area network market is projected to continue its strong growth, reaching $42.41 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to the growth of big data and analytics, hybrid and multi-cloud environments, rising cybersecurity threats, advancements in storage technologies, and digital transformation initiatives.

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Growth Driver Of The Storage Area Network Market
The growing adoption of cloud computing is expected to propel the growth of the storage area network market going forward. Cloud computing is the delivery of computing services over the internet, including storage, processing power, and applications, on a pay-as-you-go basis. The surge in the adoption of cloud-based solutions is driven by their scalability, cost-effectiveness, and ability to support remote work and digital transformation. Cloud computing enhances storage area network (SAN) capabilities by offering scalable, on-demand storage resources accessible over the internet, optimizing storage efficiency and flexibility while minimizing infrastructure costs and management complexities.

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Major Players And Market Trends
Key players in the storage area network market include Dell Technologies Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Broadcom Inc., SK hynix Inc.
Major companies operating in the storage area network market are focused on developing innovative solutions, such as block storage-only appliances, to streamline storage environments. A block storage-only appliance is a specialized storage solution designed for providing block-level data storage in a Storage Area Network (SAN) environment.

Segments:
1) By Component: Hardware, Software, Services
2) By Technology: Fiber Channel (FC), Fiber Channel Over Ethernet (FCoE), InfiniBand, Internet Small Computer System Interface (iSCSI) Protocol, Other Technologies
3) By Organization Size: Small Enterprises, Medium Enterprises, Large Enterprises
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunication, Government Offices, Retail And E-commerce, Energy And Utility, Aerospace And Defense, Education, Healthcare, Manufacturing, Other Industry Verticals

Geographical Insights: North America Leading The Market
North America was the largest region in the storage area network market in 2023. The regions covered in the storage area network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Storage Area Network Market Definition
A storage area network (SAN) is a high-speed, specialized network that connects multiple servers to a centralized pool of shared storage devices, such as disk arrays and tape libraries. It provides block-level storage access for enhancing data transfer speeds, storage scalability, and overall performance for enterprise applications.

Storage Area Network Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Storage Area Network Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on storage area network market size, storage area network market drivers and trends, storage area network market major players, storage area network competitors' revenues, storage area network market positioning, and storage area network market growth across geographies. The storage area network market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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