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Sep 14, 2020 (The Expresswire) —
The explosion of the internet web content and the increasing deployment of large database applications, the demand for storage area network (SAN) has surged. The demand is poised to surge exponentially in the near future as an increasing number of businesses become more independent on their ability of storing, retrieving, and processing data. According to Fortune Business Insights, the increasing demand for high speed storage network will invariably give tailspin to the storage area network market growth. In a report, titled “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 Geography Forecast till 2026 it offers a comprehensive overview of the global market.
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The report is compiled with the intent of helping companies take a stock of prevailing storage area network market trends. It therefore categorizes the market in terms of various parameters such as component, technology, industry vertical, and region. Furthermore, the report gauges the impact of recent industry developments and strategies adopted by leading companies to gain competitive edge. Factors enabling growth of the market across key segments are analyzed in detail as well.
North America and Europe to Offer Lucrative Growth Opportunities
Regionally, the global storage area network market can be segmented into North America, Asia Pacific, the Middle East and Africa, Latin America, and Europe. Of these, North America is expected to hold dominance in the global market. In Europe the data center spending is likely to increase by 6 percent annually through 2020. In Asia Pacific as well the market is forecast to flourish on account of the increasing IT investment.
Some of the leading companies operating in the global storage area network market are
- Hitachi Data Systems Corporation
- Dell, Inc.
- Hewlett Packard Enterprise Development L.P.
- IBM Corporation
- QLogic Corporation
- Cisco Systems, Inc.
- DataCore Software Corporation
- Nutanix, Inc.
- Fujitsu Limited
- NetApp Inc.
- DataDirect Networks
- IDG Communications, Inc.
- Pure Storage Inc.
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Key Market Driver
- The number of data centres are increasing causing the rise in storage management
- The advanced technology such as IoT and AI are increasing the amount unstructured data
Key Market Restraint
- The rise in data will increase the cost of storage
Application in Diverse Sectors to Boost Growth
In terms of end user, the storage area network market can be categorized into e-commerce and retail, energy and utility, banking, financial services and insurance, manufacturing, aerospace and defense, government offices, healthcare, education, IT and telecommunication, military, healthcare, and others. In the coming year SAN applications are likely to surge across diverse sectors, paving way for the market’s growth.
To offer insights into prevailing competition, the report profiles some of the leading companies operating in the global market. It also gauges the impact of the latest industry developments on the overall market. Recently in February 2020, Pure Storage and Rackspace announced their collaborative effort to use Block Storage Solution along-side Ultra-Fast Performance to accelerate the Value of Cloud. Through this, the company aims at enabling improvement in performance of eCommerce databases, artificial intelligence, disaster recovery, machine learning, and the Internet of Things. Such developments are very crucial for the SAN market, as they give tailspin to the growth witnessed over the past few years.
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 2020: 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
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Key Segmental Overview:
1. By Component
- System Integration
2. By Technology
- Fiber Channel (FC)
- Fiber Channel Over Ethernet (FCoE)
- iSCSI Protocol
3. By Industry Vertical
- Retail and E-commerce
- IT and Telecommunication
- Energy and Utility
- Government Offices
- Aerospace and Defence
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)
For more information in the analysis of this reporthttps://www.fortunebusinessinsights.com/industry-reports/storage-area-network-market-100762
Major Table of Content for Storage Area Network Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Storage Area Network Market Analysis, Insights and Forecast, 2026
- North America Storage Area Network Market Analysis, Insights and Forecast, 2026
- Europe Storage Area Network Market Analysis, Insights and Forecast, 2026
- Asia Pacific Storage Area Network Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Storage Area Network Market Analysis, Insights and Forecast, 2026
- Latin America Storage Area Network Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit What are the Storage Area Network Market opportunities and threats faced by the vendors in this industry? Fortune Business Insights
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