Press release
Global Storage Area Network Market to Reach $48.29 Billion by 2029, Growing at 13.93% CAGR
Storage Area Network
The growing adoption of cloud computing is expected to stimulate growth in the storage area network (SAN) market. Cloud computing offers scalable, cost-effective, and remote access to storage, processing, and applications, contributing to the increased use of SANs for efficient data storage. For example, Eurostat reported in December 2023 that 45.2% of EU businesses used cloud computing services, a 4% increase compared to 2021. Therefore, the growing adoption of cloud computing is driving the SAN market.
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What growth opportunities are expected to drive the storage area network market's CAGR through 2034?
The storage area network market has seen rapid growth and is expected to grow from $25.08 billion in 2024 to $28.67 billion in 2025, at a CAGR of 14.3%. The growth is driven by increasing regulatory requirements, cost reductions in storage hardware, high availability and performance needs, disaster recovery and business continuity demands, data center consolidation, and the adoption of server virtualization.
The storage area network market is projected to grow to $48.29 billion by 2029, at a CAGR of 13.9%. The growth is attributed to the rise of big data and analytics, hybrid and multi-cloud environments, increasing cybersecurity threats, advancements in storage technologies, and digital transformation initiatives. Major trends include adopting hyper-converged infrastructure, expanding edge computing, integrating hybrid and multi-cloud solutions, and focusing on sustainability and energy efficiency.
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What are the emerging trends shaping the future of the storage area network market?
Companies in the storage area network market are concentrating on innovative solutions like block storage-only appliances to optimize storage environments. For example, in May 2023, NetApp, a US-based data software company, introduced the NetApp ASA A-series, the first block storage-only appliance. This solution simplifies block storage with features such as advanced data management, including data deduplication, thin provisioning, and snapshot technology, along with seamless integration and high availability for critical applications.
Which growth-oriented segments of the storage area network market are leading the industry's development?
The storage area network market covered in this report is segmented -
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
Subsegments:
1) By Hardware: San Switches, Storage Controllers, Storage Devices (Disk Arrays, Tape Libraries), Host Bus Adapters (Hbas), Cables And Connectors, Storage Networking Equipment (Fibre Channel, Ethernet Adapters)
2) By Software: Storage Virtualization Software, Data Protection And Backup Software, Storage Management Software, Disaster Recovery Software, File Systems And Storage Operating Systems, Security Software For San
3) By Services: Installation And Configuration Services, Consulting And Integration Services, Managed Services (For San Monitoring And Management), Data Migration Services, Maintenance And Support Services, Cloud Storage Integration Services
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Which region dominates the storage area network 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.
What companies are at the forefront of innovation in the storage area network market?
Major companies operating in the storage area network market are Dell Technologies Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Broadcom Inc., SK hynix Inc., Fujitsu Limited., Hewlett Packard Enterprise Development LP, Toshiba Electronic Devices & Storage Corporation, NEC Corporation, Texas Instruments Incorporated, Western Digital Corporation, NXP Semiconductors N.V., NetApp Inc., Marvell Technology Group Ltd., Citrix Systems Inc., Hitachi Vantara LLC, Nutanix Inc., DataCore Software Corporation, Everspin Technologies Inc., Viking Technology, StorMagic Ltd.
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What Is Covered In The Storage Area Network Global Market Report?
•Market Size Forecast: Examine the storage area network market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the storage area network market for a structured understanding.
•Key Players Overview: Analyze major players in the storage area network market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the storage area network market.
•Segment Contributions: Evaluate how different segments drive overall growth in the storage area network market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the storage area network market.
•Industry Challenges: Identify potential risks and obstacles affecting the storage area network market.
•Competitive Landscape: Review strategic developments in the storage area network market, including expansions, agreements, and new product launches.
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