Overview

A storage area network (SAN) is a specialized high-speed network that provides block-level network access to storage. SANs are used to augment the capacity of mass storage devices. Moreover, it connects all storage devices together in any network and links them to different operating systems in other IT networks. With increasing volumes of critical data being accumulated in the global business environment, there is a need among enterprises for better performance, availability, manageability, and security of data storage assets.

The global Storage Area Network (SAN) Market was accounted for US$ 17,823.4 Mn in terms of value in 2019 and is expected to grow at CAGR of 3.5% for the period 2020-2027.

Market Driver

Rising expenditure on IT infrastructure is expected to boost the global storage area network (SAN) market growth over the forecast period

In the recent past, the capital expenditure on IT and associated infrastructure have increased significantly, especially in emerging economies. Furthermore, emerging regions such as MEA, Asia Pacific, and Latin America are witnessing a major increase in the need for investment in IT infrastructure after a break. According to Coherent Market Insights’ analysis, in 2015, global hardware expenditure was hindered by declining sales of PCs and phones. However, other markets are expected to perform better since enterprises are actively investing in network and storage infrastructure. According to the same source, global hardware expenditure accounts for 24% of total IT investment. Hence, these factors are expected to boost the global storage area network (SAN) market growth in the near future.
Request for Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/3797

Market Opportunity

Presence of heterogeneity in terms of component selection for SANs can provide lucrative growth opportunities

Previously, many enterprises adopting SANs used to purchase pre-tested, pre-configured solutions from storage and server solution providers namely IBM Corporation and Dell Inc. However, this trend has changed in the recent past, owing to growing number of IT decision-makers choosing to adopt SANs with the best hardware and software solutions. This trend towards heterogeneity in terms of component selection for SAN is expected to present potential business opportunities to VARs (Value added resellers) and System Integrators. Moreover, close customer relationships are expected to play a major role in the implementation of heterogeneous SANs, which are provided by the value-add System Integrators and VARs to their customers.

Market Restraint

Major complexities associated with SANN architecture are expected to hinder the global storage network (SAN) market growth over the period

SANs are highly sophisticated and costly pieces of storage equipment and are relatively complicated and propriety. Moreover, SANs are characterized to be virtually failure-proof. However, major outages and performance failures in the cloud in recent times have been related to failure of SAN or significant degradation in system performance. Since then nature of SAN is complex and prosperity, whenever there is a failure in SAN architecture, there will be a major complex problem for the organization. Furthermore, outages due to SAN failures are measured in hours and now minutes, which leads to such drawbacks of SANs and to leverage the cloud as a high performance, reliable and resilient storage option, various enterprises are shifting beyond SAN. This, in turn, is restraining growth of the global SAN market. Hence, these factors are expected to hinder the global storage area network (SAN) market growth over the forecast period.

Market Trends

Asia Pacific Trends
Expenditure in IT infrastructure in Asia Pacific is expected to decline during the first half of the forecast period. This is owing to emerging economies such as India, China, Malaysia, and Japan facing economic issues due to global economic crisis. On the contrary, tech markets of Australia, New Zealand, Singapore, South Korea, and some ASEAN countries are witnessing good and improving growth, with increasing demand for software for automating business processes and analytics to improve businesses. According to statistics of Asia Cloud Computing Association (ACCA), the prognosis is adequate for APAC region. This region is in a strong position and is expected to maintain its position in the near future.

Europe Trends
The European tech market is witnessing a slow transformation with users preferring to spend less on legacy IT services and solutions and more on investing in innovative IT services and solutions. Moreover, cloud computing is expected to be the center of this transformation both in terms of applications and transformations. Particularly on the infrastructure side, cloud computing is anticipated to have a similar impact on the business of IT suppliers as the Internet had on telcos in the last decade. Along with generating new opportunities, it will have a significant impact on the pricing model for infrastructure services.
Read more @ https://www.coherentmarketinsights.com/market-insight/social area network-contract-research-outsourcing-market-3788

Competitive Section

Key players involved in the global storage area network (SAN) market are IBM Corporation, Brocade Communications Systems, Inc., Dell Inc., QLogic Corporation, Citrix Systems, Inc., Hitachi Data Systems, NetApp, Inc., Hewlett-Packard Company, DataCore Software, NEC Corporation, Nutanix, and Cisco Systems, Inc.

Key Developments

Key companies in the market are focused are product launches, in order to enhance product portfolio. For instance, in November 2019, DataCore Software introduced its next-generation distributed file and object storage vFilO Software.
Major market players are involved in product development, in order to strengthen market position. For instance, in March 2020, Nutanix introduced big data and analytics capabilities and for unstructured data storage as a part of Nutanix Objects 2.0.
Segmentation
Buy this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/3797
Market Taxonomy:

By Component
Software
Hardware
Service
Consulting
System Integration
Support & Maintenance
By SAN Type
Virtual SAN
Conventional SAN
By Technology
FibreChannel (FC)
FibreChannel Over Ethernet (FCOE)
InfiniBand
iSCSI Protocol
By End User
SMEs
Large Enterprises
By Verticals
BFSI
Retail and e-Commerce
IT and Telecommunication
Energy and Utility
Government Offices and Education
Aerospace and Defense
Healthcare
Manufacturing
Others (Transportation and Logistics)
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa