As per Future Market Insights’ latest industry analysis, the global Storage-area network (SAN) market is expected to display 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 around US$ 19 billion in 2021 and is expected to expand to a valuation of US$ 26,86 billion by 2029. The SAN market is predicted to be accountable for around 7% of the global next-generation data storage market.
The need to store massive amounts of data in enterprises is on the rise and the requirement 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 Fibre Channel (FC) SAN, Fibre Channel over Ethernet (FCoE) SAN, InfiniBand SAN, and iSCSI SAN.
Both hyper-scale server SAN and enterprise server SAN are used 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.
Key takeaways
• The introduction and adoption of hybrid SAN-NAS solutions is 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 more complex. It is anticipated to become somewhat 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 possible for their dynamic requirements.
• Traditional means of storage data paired with critical information is 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 uses 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, thus efficient access to shared data resources is increasingly becoming complex. Such prolific and impressive growth in the information that needs 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.
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 implementing various strategies such as partnerships, collaborations as well as acquisitions, which are resulting in widened customer base.
These insights are based on a report on Storage Area Network (SAN) Market by Future Market Insights. Find out more at www.futuremarketinsights.com
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