Storage Area Network Market Size, Share and Global Trend By Component (Software, Hardware, Services), By Technology (Fiber Channel (FC), Fiber Channel Over Ethernet (FCoE), InfiniBand, iSCSI Protocol), By Industry Vertical (BFSI, Retail and E-commerce, IT and Telecommunication, Energy and Utility), and Regional Forecast, 2024-2032

A storage area network (SAN) functions as a secure and dedicated high-speed data transfer network that provides access to consolidated block-level storage. SANs uses hosts, switches, storage elements, and storage devices that are interconnected using a variety of technologies, topologies, and protocols. The industries where it is applicable are BFSI, retail & e-commerce, IT & telecommunication, energy & utility, government offices, education, aerospace & defence, healthcare, manufacturing, among others.

For instance, in the BFSI sector for global securities, storage area network enables traders to go in brief through large volumes of data to quickly identify the ups and downs in the market and take advantage of a brief arbitrage opportunity before it closes. Similarly, medical researchers are bringing AI supported operations, which will generate a large amount of data. The low-latency SAN enables quick access to data that can improve accuracy and save time.

Key Players Covered

The key players covered are Hewlett Packard Enterprise Development L.P., Hitachi Data Systems Corporation, Dell, Inc., IBM Corporation, Cisco Systems, Inc., QLogic Corporation, Nutanix, Inc., DataCore Software Corporation, and NEC Corporation., NetApp Inc., Fujitsu Limited, IDG Communications, Inc., DataDirect Networks, Pure Storage Inc. among others.

SEGMENTATION

Regional Analysis

As interest in big data, cloud computing, and digital services and products continues to grow; more data is being created, thus raising the requirement of storage management. North America holds the largest market for the data centre. European data centre spending will increase 6 percent yearly through 2020. Asia Pacific is likely to see flourishing growth in the SAN solutions market mainly due to the significant rise in IT investments made by companies across industries, along with the growing emphasis of SAN solution.

Key Industry Developments

• July 2017: IBMZ, the next generation of the world’s most powerful transaction system, has announced a new storage that is running more than 10 billion encrypted transactions per day. They have increased Storage Area Network response time with zHyperLink, by 10x latency reduction compared to the earlier network thus cutting application response time to half. Businesses are able to do the transactions through IoT and cloud without changing a single line of application code.
• February 2019: Rackspace and Pure Storage Collaboratively announced to accelerate the Value of Cloud through Block Storage Solution with Ultra-Fast Performance. This will enable high performance for eCommerce, databases, disaster recovery, artificial intelligence, Internet of Things and machine learning