Market Analysis
The server storage area network market will touch USD 59 billion at a whopping 37% CAGR between the forecast period 2016- 2023, states the recent Market Research Future (MRFR) analysis. Storage area network (SAN), simply put, is a network of storing systems that offer networked device block storage services. It offers competitors high-quality performance.
Various factors are propelling the global server storage area network market growth. According to the recent MRFR report, such factors include improvement in data backup & migration, growing demand for effective data management, low cost and quick access to stored data, greater flexibility, growing IT & software infrastructure, high upgradation cost of data centres, and reduced additional costs.
On the contrary, high-cost issue and the current COVID-19 impact may limit the server storage area network market growth during the analysis period.
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Market Segmentation
The MRFR report highlights inclusive market segments in terms of component, services, type, and organization.
By component, the server storage area network market is segmented into software and hardware. The software segment is again segmented into platform software and application software. Of these, the hardware segment will lead the market over the forecast period.
By services, the global server storage area network market is segmented into managed and professional service. The professional service is again segmented into support and maintenance service, consulting service, and integration and deployment service.
By type, the global server storage area network market is segmented into enterprise server storage area network and hyperscale server storage area network.
By organization, the global server storage area network market is segmented into large enterprise and small & medium enterprise.
Regional Analysis
On the basis of region, the server storage area network market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America is predicted to spearhead the market over the forecast period. The presence of service providers that offer server storage and solutions for large and small enterprises, higher adoption of data centers for improved data storage management, early adoption of the technology, high market share, and adoption of advanced technology is adding to the global server storage area network market growth over the forecast period.
In the APAC region, the server storage area network market is predicted to have sound growth over the forecast period. Constant developments in storage area networks, adoption of emerging networking technologies, expansion of product portfolio by industry players by shifting their business to the cloud, growing middle-class population, rising urbanization, technological innovations, growing ICT industry, and rapid growth in several end-use industry verticals are adding to the global server storage area network market growth in the region.
In Europe, the server storage area network market is predicted to have healthy growth over the forecast period.
In the Rest of the World, the server storage area network market is predicted to have favorable growth over the forecast period. Increasing use as security against data loss, advances being made by companies in their solutions and services, and growing demand for data centres are adding to the global server storage area network market growth in the region.
Key Players
Key contenders profiled in the global server storage area network market report include Cumulus Networks (U.S.), Docker, Inc. (U.S.), ExtraHop Networks (U.S.), Pluribus Networks (U.S.), SwiftStackInc (U.S.), Teridion (U.S.), Veeam Software (Switzerland), Cisco Systems, Inc (U.S.), Red Hat, Inc (U.S.), CloudGenixInc (U.S.), Cambium Networks, Ltd (U.S.), Big Switch Networks, Inc (U.S.), Barefoot Networks (U.S.), A10 Networks, Inc. (U.S.), The Siemon Company (U.S.), StorMagic Ltd. (U.K), Scale Computing (U.S.), Hitachi, Ltd (Japan), Citrix Systems, Inc (U.S.), Nutanix (U.S.), DataCore Software (U.S.), Dell EMC (U.S.), and Hewlett-Packard Development Company, L.P. (U.S.).
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