Sales revenue of the storage area network (SAN) industry in the U.S. is estimated to increase at a CAGR of around 2.6% between 2023 and 2033 and U.S.
As per Future Market Insights’ latest industry analysis, The global Storage Area Network (SAN) market is expected to showcase stable growth opportunities by exhibiting a CAGR of around 3.9% over the assessment period from 2022 to 2029. The global market reached a valuation of US$ 19,576 Mn in 2021 and further expand at a valuation of US$ 26,867 Mn by the year 2029. SAN market is predicted to be accountable for around 7% of the global next-generation data storage market. According to historical estimations, the global SAN market was valued at US$ 14,921 Mn in 2014. The demand for SAN is estimated to rise at a CAGR of 4.0% during the period 2014-2021.
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.
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Key Takeaways
Competitive Landscape
Several key players in the SAN market are concentrating on investing heavily in innovation, research, and development practices in order to offer different solutions for several industrial applications. To expand their presence, dominant market players are undergoing various strategies such as partnerships, collaborations as well as acquisitions which are resulting in widened customer base.
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More Insights into the Storage Area Network (SAN) Market
Japan is expected to remain one of the most lucrative SAN markets over the APAC regions as the global market is anticipated to grow at around 1.6X by 2029. Japan's market is anticipated to create an absolute dollar opportunity of US$ 188.3 Mn during 2022-29.
India is yet another market that is set to showcase lucrative growth opportunities over the SAN market with a robust CAGR of 6.6% throughout the assessment period from 2022 to 2029. India market is anticipated to create an absolute dollar opportunity of US$ 534.0 Mn during 2022-29.
Sales revenue of the SAN market in the U.S. is anticipated to surge at an impressive CAGR of about 2.9% between 2021 to 2029 and its sales are expected to reach around 1.2X by 2029.
SAN Market Outlook by Category
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. FMI Analysis
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Global Storage Area Network (SAN) Market Demand Analysis 2014-2021 and Forecast, 2022-2029
3.1. Historical Market Size (US$ Mn) Analysis, 2014-2021
3.2. Current and Future Market Size (US$ Mn) Projections, 2022-2029
3.3. Y-o-Y Growth Trend Analysis
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Jan 06, 2023