storage area network (SAN) market Estimated to Grow Owing to Rising...

storage area network (SAN) market Estimated to Grow Owing to Rising Demand for Data Storage

Posted 2024-09-04 13:02:54

The storage area network (SAN) market allows centralized block-level storage and access of shared data across a network. SAN solutions offer scalable and unified storage framework for organizations to manage data growth effectively. Key advantages include improved storage utilization, flexible deployment options, enhanced data protection and availability. With growing reliance on digitalization and data-intensive applications across industries, the need for agile, high-performance storage infrastructure has increased tremendously.

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 2024 To 2031.

Key Takeaways

Key players: Key players operating in the 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.

Key opportunities: Surging demand for data virtualization, reduced IT infrastructure costs, and greater scalability are expected to create substantial Storage Area Network (SAN) Market
Demand vendors during the forecast period. Growing popularity of hybrid cloud and AI-enabled SAN solutions will further aid the expansion of the market.

Global expansion: Major players are investing in strategic partnerships and acquisitions to strengthen their global footprint. Increasing adoption across small and medium enterprises in developing economies of Asia Pacific and Latin America is anticipated to drive the SAN market growth globally over the next few years.

Market drivers

The Storage Area Network (SAN) Market Size And Trends is the rising demand for data storage across industries. With increasing digital data volumes, organizations are investing aggressively in scalable and high-performance storage solutions to effectively manage business critical data. SAN systems enable seamless scaling of storage capacities through non-disruptive operations. This helps optimize storage utilization and reduce capital expenditure, thereby fueling the demand for SAN globally.