Storage Area Network Market Drivers Technological Advancements
HYDERABAD, TELANGANA, INDIA, November 4, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Storage Network Market (SAN) is expected to reach USD 17.9 billion by 2026, growing at a CAGR of 2.5% from 2021 to 2026. Market growth is attributed to factors such as increasing deployment of storage system cloud-based direct-connect (DAS) technology, increasing the growth of advanced technologies such as IoT, AI and many others, while delivering increased labor productivity across different industries. Moreover, increasing investments from various sectors in infrastructure development are also exploding the growth of the market. One of the main factors in the use of SAN is centralized backup. In centralized backup servers, the user has a backup on the main server and will be able to view the data stored on the local drives. Some additional features of this network attached storage (NAS) are storage virtualization, clustered file system, and stateful failover protection. Additionally, the ease of availability and increased I/O performance with the increase in the number of interconnected devices make the server service area network an efficient system. Global advancement in technology and business operations along with low cost of upgrade are the major drivers for the growth of the storage networking market. However, deployment issues due to complicated integration are a major hurdle for the storage networking market. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
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Key points to remember:
1. With large industries facing storage challenges for their massive amounts of data, data center deployments can help them tremendously in successfully managing sensitive business information in a systematic way.
2. The North American region dominated the global storage networking market in 2020 owing to the presence of advanced technologies, large number of manufacturers, and growing enterprise demand for storage networking.
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1. Fiber Channel over Ethernet (FCoE) market is expected to experience the highest market growth during the forecast period 2021-2026 with a CAGR of 4.4%. FCoE provides an adaptive strategy to I/O consolidation by retaining all Fiber Channel constructs, maintaining the bandwidth, protection, and traffic control characteristics of Fiber Channel while maintaining investments in Fiber Channel resources, training and SANs.
2. Large enterprises are expected to experience significant market growth over the forecast period 2021-2026 at a CAGR of 3.5%. The growth of the market is due to the benefits users are deploying including faster backups, improved scalability, clustered file storage, enhanced data security and others.
3. North America held the highest market share in 2020 at 37%. The growth of the market is attributed to factors such as advancements in technology, increased demand for energy efficient devices, and increased demand for high-speed connectivity in the region. The region also has a well-established infrastructure that allows easy implementation of advanced technologies and offers better connectivity.
Top 5 players in the storage area network industry are –
1.Dell Technologies Inc.
4. Hitachi Ltd.
5.Huawei Technologies Co.
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A. Network-attached storage market
B. Low Power Wide Area Network (LPWA) Market