Press release
Storage Area Network Market : Worldwide Industry Analysis and New Market Opportunities Explored
The worldwide boom in IT has redefined many industries and built the base of many budding economies spread across the globe. IT based technologies such as SAN (storage area network) have immensely helped small and medium scale entrepreneurs.The inbuilt capabilities such as shared storage, centralised control and flexibility to share capacity between multiple hosts is creating a broader market acceptance of the product within the small and medium scale business entities present in the global market. The surged spending on ICT is probably going to buckle up the global storage area network market.
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Revenue growth of the global storage area network market is predicted to soar in the APEJ region. APEJ is estimated to register a robust Y-O-Y growth and expand at a CAGR of 4.8%. The major booming economies of the APEJ region such as India and China are fuelling the growth of the APEJ SAN market. India is expected to climb the ladder of growth and record a CAGR of 5.3% within the period of forecast. But the dragon economy of China is expected to dominate the market scene till the end of 2026.
The North America SAN market, which was valued close to US$ 5 Bn in 2015 will continue its growth lap till the end of 2026. North America will account for more than 30% revenue share of the global storage area network market.
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The key players of the global storage area network market such as CISCO extracted a lion’s share of revenue from the markets fragmented across the North America region. The North America region contributed more than 60% of their revenue in 2015. NetApp, Inc. another major shareholder in the global storage area network market fished out more than 50% of the revenue share from the North America market in 2015.
At the same time the software segment is assessed to be the most attractive segment in terms of revenue within the North America region and it is predicted to record a CAGR of 4.0% by the end of the foreseen period.
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