Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 21.5 Billion | USD 36.3 Billion | 5.4% | 2024 |
FrequentlyAsked Questions
A Storage Area Network (SAN) is a high-speed network that connects storage devices. SANs are often made up of hosts, switches, storage elements, and storage devices that are linked together utilizing a range of technologies, topologies, and protocols.
The Storage Area Network (SAN) market is being driven by the rapid growth in data volume & workloads, need for higher performance (Flash, NVMe, Low Latency Networks), digital transformation, IoT, edge computing, and demand from enterprises, data centers & hyperscalers..
The high initial capital & operating costs pose a major challenge to the industry expansion.
Based on the end use, the BFSI segment is expected to dominate the industry growth during the projected period.
The increasing digital transformation among enterprises is a major impacting factor for the storage area network industry growth over the projected period.
According to the report, the global Storage Area Network (SAN) market size was worth around USD 21.5 billion in 2024 and is predicted to grow to around USD 36.3 billion by 2034.
The global Storage Area Network (SAN) market is expected to grow at a CAGR of 5.4% during the forecast period.
The global Storage Area Network (SAN) industry growth is expected to be driven by the North American region. It is currently the world’s highest revenue-generating market due to the big IT infrastructures and the increasing number of data centers.
The global Storage Area Network (SAN) market is dominated by players like NEC Corporation, Dell Technologies, Pure Storage, Inc., Hewlett Packard Enterprise (HPE), Broadcom Inc. (Brocade), Cisco Systems, Inc., IBM Corporation, Hitachi Vantara (Hitachi Ltd.), NetApp, Inc., Lenovo Group Limited, Fujitsu Limited, Huawei Technologies Co., Ltd., Nutanix, Inc., DataCore Software Corporation, and StarWind Software Inc., among others.
The market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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