Storage Area Network Market to Grow with a CAGR of 7.89% Globally through to 2028
Storage Area Network market increasing due to the
growing demand for scalable and efficient data storage solutions to support
digital transformation, data analytics, and cloud adoption by enterprises in
the forecast period, 2024-2028.
According to
TechSci Research report, “Global Storage Area Network Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028
Global Storage Area Network market has witnessed
tremendous growth in recent years, reaching a valuation of USD 13.65 billion in
2022. The market is projected to continue its strong upward trajectory, posting
a CAGR of 7.89% from 2024 to 2028. The Global Storage Area Network (SAN) market has
witnessed remarkable growth in the past year, primarily driven by surging
demand from commercial real estate and facilities management companies. These
organizations have increasingly recognized the strategic advantages offered by
Storage Area Networks in optimizing their operations, enhancing risk
management, and ensuring regulatory compliance, particularly in the realms of
advanced fire safety and property management capabilities. Numerous major
players in the commercial real estate sector have forged partnerships with
leading Storage Area Network solution providers. This collaboration has paved
the way for digital transformation in critical backend processes, including
fire inspection management, equipment maintenance scheduling, and comprehensive
reporting. Storage Area Network platforms have emerged as catalysts for
improved collaboration among dispersed project teams and have resulted in
heightened efficiencies within property networks.
Moreover,
technologies harnessing Storage Area Network infrastructure, such as
cloud-based fire safety software, 3D building design tools, and smart building
systems, have empowered real estate firms with tailor-made solutions for
enhancing safety, compliance, and overall business performance. Consequently,
they have gained a competitive edge by boosting productivity, trimming
operating expenses, and expediting the time-to-market for new property
developments. This surge in adoption has also been fueled by corporate digital
transformation initiatives that prioritize flexible work models and remote
management capabilities, all of which are underpinned by Storage Area Network
infrastructure. Real estate enterprises have come to recognize the strategic
role that Storage Area Networks play in managing extensive, geographically
dispersed property portfolios, enabling adaptable work environments, and
facilitating intricate building design projects. This paradigm shift has
contributed to increased demand as firms seek to optimize costs and respond
swiftly to evolving regulations.
Furthermore,
ongoing innovation in AI-powered facilities management, smart building
platforms, and digital twin technologies has further accelerated market growth.
These advancements empower property owners to establish data-driven, bespoke
models for portfolio management and compliance using the capabilities of
Storage Area Networks.
As real estate
enterprises continue to explore novel avenues for harnessing Storage Area
Networks in their digital operations and smart building strategies, the
long-term prospects for the global SAN market remain highly favorable. The
reliability and advanced functionalities related to fire safety and compliance
have evolved into crucial enablers for flexible work environments, customized
tenant experiences, and complex construction endeavors on a global scale.
Consequently, the market is poised for robust growth as adoption extends across
various geographical regions and property types, aligning with the evolving
digital transformation imperatives of the real estate industry that relies on
Storage Area Network infrastructure.
Browse over 26
market data Figures spread through 91 Pages and an in-depth TOC on "Global Storage Area Network Market.”
Global Storage
Area Network (SAN) market is segmented by component into hardware, software and
services. The hardware segment dominates the market currently due to the high
costs associated with SAN hardware such as switches, adapters, hubs, routers
etc. The software segment is expected to witness the fastest growth during the
forecast period owing to the rising adoption of SAN management and monitoring
software by enterprises.
By architecture,
the market is segmented into Fiber Channel (FC) SAN and Ethernet SAN which
includes iSCSI SAN and Converged SAN. Among these, FC SAN has the largest
market share currently due to its high reliability and performance. However,
Ethernet SAN architectures such as iSCSI SAN are expected to experience the
highest growth in the coming years due to their lower costs and easier
manageability compared to FC SANs. On the basis of end-user industry, the major
segments of the SAN market include Healthcare, IT & Telecom, BFSI, Retail,
Manufacturing and others. The Healthcare industry dominates the market
currently due to the high storage requirements for medical images and patient
data. Within the Healthcare segment, hospitals and diagnostic centers represent
the largest end-users. The IT & Telecom industry is poised to witness the
fastest growth during the forecast period owing to the rising need for storage
and backup of critical enterprise data in these sectors. In summary, the
global SAN market is dominated by hardware components and FC SAN architecture
currently. However, the software and Ethernet SAN segments are expected to
experience the highest growth rates during the forecast period. Healthcare
remains the key end-user industry, while IT & Telecom will be the fastest
growing segment.
Major companies operating in Global Storage Area
Network Market are:
- Dell Technologies
- Hewlett Packard Enterprise
- IBM Corporation
- NetApp, Inc
- Hitachi, Ltd
- Huawei Technologies Co., Ltd
- Pure
Storage, Inc
- Nutanix,
Inc
- NETGEAR,
Inc
- Super Micro Computer, Inc
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“ Global Storage
Area Network (SAN) market has seen significant growth in recent years and is
well-positioned for continued expansion. Driven by increasing digital
transformation across industries, the SAN market size is projected to witness
strong revenue growth over the next five years.
Technologies
like AI, cloud computing, IoT, and data analytics have enabled enterprises to
leverage SAN platforms to optimize operations, generate predictive insights,
automate workflows, and manage compliance at scale. By collecting and analyzing
large volumes of data through advanced analytics, SAN solutions allow companies
to deeply customize solutions, reduce costs through streamlined processes, and
strengthen regulatory controls. Both large
enterprises and small/medium businesses are partnering with SAN providers to
digitally transform core and non-core functions. This adoption of SANs helps
organizations enhance customer experiences through personalized
recommendations, automate workflows to optimize processes, and manage
compliance requirements more effectively. SAN vendors
continue investing heavily in research and development to develop
industry-specific solutions addressing diverse business needs. Regulatory
authorities are also developing frameworks to ensure data privacy and security
standards are maintained, fostering continued innovation. Backed by
ongoing technological advancements in areas like AI, cloud, and IoT, growing
acceptance of data-driven strategies, and continuous product innovation,
analysts project the global SAN market will experience strong, sustained
revenue growth over the next five years. As digital technologies become
increasingly core to business capabilities across all sectors, SAN solutions
are cementing their role as indispensable tools for optimizing processes.
The future
outlook for the global SAN industry remains bright, with the market
well-positioned for continued expansion driven by these factors supporting
ongoing digital transformation globally.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Storage Area Network Market by
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented by Component (Hardware, Software, Services), By Architecture
(Fiber Channel (FC) SAN, Ethernet SAN (iSCSI SAN, Converged SAN), By End-User Industry (Healthcare,
IT and Telecom, Telecommunications, BFSI (Banking, Financial Services,
and Insurance), Retail, Manufacturing), By
Region, By Competition”, has evaluated the future growth potential of Global
Storage Area Network Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Storage Area Network Market.
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