Storage Area Network (SAN) Market is set to surpass a valuation of US$ 21,400 million in 2023

The global storage area network (SAN) market is set to surpass a valuation of US$ 21,400 million in 2023, and further expand at a CAGR of 3.7% to reach US$ 30,800 million by the year 2033. The storage area network (SAN) market accounts for around 7% of the global next-generation data storage market.

According to Future Market Insights, Inc., the US is expected to account for a staggering CAGR of 9.6%, reaching a value of US$ 1.7 billion by 2033. Over the forecast period, it is expected that the USA will dominate the North American market with a sizable value share in terms of consumption.

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Key Takeaways

• 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.

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

By Component:

• Hardware
• Software
• Services
  • Consulting
  • System Integration
  • Support & Maintenance

By SAN Type:

• Hypercscale Server SAN
• Enterprise Server SAN

By Technology:

• Fibre Channel (FC)
• Fibre Channel Over Ethernet (FCOE)
• InfiniBand
• iSCSI Protocol

By Vertical:

• BFSI
• IT & Telecom
• Energy & Utility
• Government
• Military & Defense
• Healthcare
• Manufacturing
• Retail & e-Commerce
• Others

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA
• GCC Countries