Storage Area Network Market 2024-2033: Technological Advancements, Competitive Landscape and Strategies

The storage area network global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Storage Area Network Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –
The storage area network market size has grown rapidly in recent years. It will grow from $22.02 billion in 2023 to $25.08 billion in 2024 at a compound annual growth rate (CAGR) of 13.09%.  The growth in the historic period can be attributed to increasing regulatory requirements, cost reduction in storage hardware, high availability and performance needs, disaster recovery and business continuity, data center consolidation, and adoption of server virtualization.

The storage area network market size is expected to see rapid growth in the next few years. It will grow to $42.41 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.  The growth in the forecast period can be attributed to the growth of big data and analytics, hybrid and multi-cloud environments, rising cybersecurity threats, advancements in storage technologies, and digital transformation initiatives. Major trends in the forecast period include increased adoption of hyper-converged infrastructure, edge computing expansion, software-defined storage (SDS), hybrid and multi-cloud integration, sustainability and energy efficiency, automation, and orchestration.

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Scope Of Storage Area Network Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Storage Area Network Market Overview

Market Drivers –
The growing adoption of cloud computing is expected to propel the growth of the storage area network market going forward. Cloud computing is the delivery of computing services over the internet, including storage, processing power, and applications, on a pay-as-you-go basis. The surge in the adoption of cloud-based solutions is driven by their scalability, cost-effectiveness, and ability to support remote work and digital transformation. Cloud computing enhances storage area network (SAN) capabilities by offering scalable, on-demand storage resources accessible over the internet, optimizing storage efficiency and flexibility while minimizing infrastructure costs and management complexities. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of enterprises within the European Union procured cloud computing services, primarily for hosting email systems, storing electronic files, and performing various tasks. Compared to 2021, purchases of cloud computing services among EU enterprises rose by 4% in 2023. Therefore, the growing adoption of cloud computing is driving the growth of the storage area network market.

Market Trends –
Major companies operating in the storage area network market are focused on developing innovative solutions, such as block storage-only appliances, to streamline storage environments. A block storage-only appliance is a specialized storage solution designed for providing block-level data storage in a Storage Area Network (SAN) environment. For instance, in May 2023, NetApp, a US-based data-centric software company, launched the NetApp ASA A-series, a first-ever block storage-only appliance for customers seeking simplified block storage solutions. It offers unique features such as advanced data management capabilities, including data deduplication, thin provisioning, and snapshot technology, along with seamless integration into existing SAN environments and high availability for mission-critical applications.

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

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Regional Insights –
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.

Key Companies –
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.

Table of Contents
1. Executive Summary
2. Storage Area Network Market Report Structure
3. Storage Area Network Market Trends And Strategies
4. Storage Area Network Market – Macro Economic Scenario
5. Storage Area Network Market Size And Growth
…..
27. Storage Area Network Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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