The storage area network (SAN) market offers a centralized block level storage system interconnected by a fast Fibre Channel network. SAN delivers persistent data storage independently of connected servers or networks using block level input/output access, RAID data protection, and central administration. A SAN network can scale from a single server to hundreds of servers accessing a shared pool of disks and is capable of providing up to one hundred times more input/output operation per second compared to direct attached storage. These capabilities make SAN suitable for high performance databases, virtual environments, and other input/output intensive applications.
The Global Storage Area Network (SAN) Market is estimated to be valued at US$ 19.44 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Storage Area Network (SAN) market are IBM Corporation, Brocade Communications Systems, Inc., Dell Inc., QLogic Corporation, Citrix Systems, Inc., Hitachi Data Systems, NetApp, Inc., Hewlett-Packard Company, DataCore Software, NEC Corporation, Nutanix, and Cisco Systems, Inc. These players are focusing on new product developments and partnerships with other IT solution providers to enhance the capabilities of their SAN solutions and gain a competitive edge over other players in the market.
The growing adoption of virtualization technologies across enterprises has boosted the need for higher storage capacity and centralized storage infrastructure like Storage Area Network (SAN) Market
Demand Virtualization increases the need for efficient data protection and disaster recovery capabilities that SANs inherently provide. The ability of SANs to provide block level storage to multiple virtual and physical servers simultaneously has stimulated demand across industries.
Major storage vendors have also been expanding their global footprint by opening new data centers and support centers across geographies. For instance, in 2020, NetApp expanded its flagship data center in Singapore to double its capacity to support the growing needs of Asian customers. The increasing globalization of IT infrastructure projects is expected to further propel the SAN market during the forecast period.
Market key trends
One of Storage Area Network (SAN) Market Size And Trends increasing adoption of all-flash storage arrays. These systems provide faster input/output speed compared to traditional hybrid storage arrays by utilizing only solid state drives. All-flash SANs can support mission critical applications and real-time analytics requirements of enterprises more effectively. Major storage vendors have been including all-flash arrays in their SAN portfolios which is positively impacting market revenues.
Porter's Analysis
Threat of new entrants: Storage Area Network market requires large capital investments for infrastructure setup, which raises the entry barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of both global and regional players offering similar products.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to the availability of alternative suppliers and components.
Threat of new substitutes: Alternatives like Direct Attached Storage continue to emerge as low cost substitutes.
Competitive rivalry: The market is dominated by few global players intensifying the competition.
Geographical Regions
North America accounts for the largest share of the Storage Area Network market in terms of value. Major factors driving the growth include rising volumes of data across industries and significant technological advancements in the region.
The Asia Pacific region is expected to witness the fastest growth in the Storage Area Network market during the forecast period. Rapid digitalization of enterprises across verticals and growing data center investments are augmenting the demand. Countries like China and India are emerging as high potential markets.
Geographical Regions
The United States accounts for the major share of the Storage Area Network market in terms of value owing to strong technological adoption across industries. Growing volumes of enterprise data and presence of leading solution providers drive the U.S market.
China is poised to exhibit the fastest growth during the forecast period attributed to intensifying government initiatives to promote digital transformation of SMEs. Significant investments by hyperscalers in building local data center infrastructure also augment the China Storage Area Network market prospects.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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