What Is The Overview Of The Global Server Storage Area Network Market?
A server storage area network is a high-speed, specialized network that connects servers to a centralized pool of storage devices, providing block-level storage access to multiple servers. This architecture separates storage from the local servers, enabling efficient, scalable, and flexible storage management, and is commonly used in enterprise environments to enhance storage utilization, performance, and data protection.
Server Storage Area Network Global Market Report 2024 provides data on the global server storage area network market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Server Storage Area Network market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Server Storage Area Network?
The server storage area network market size has grown robustly in recent years, expanding from $20.87 billion in 2023 to $22.38 billion in 2024, with a compound annual growth rate (CAGR) of 7.3%. This historical growth is driven by factors such as the data explosion, virtualization, the adoption of cloud computing, cost reduction efforts, and increasing performance demands. The market is projected to experience strong growth in the coming years, reaching $29.74 billion by 2028 with a CAGR of 7.4%. This forecasted growth is attributed to data growth, rising digital transformation initiatives, big data and analytics, and heightened interest in the Internet of Things. Major trends expected during this period include increased demand for hyper-converged infrastructure, the expansion of edge computing, a shift towards software-defined storage, the rise of artificial intelligence and machine learning workloads, and advancements in data security.
What Factors Are Driving Growth In The Server Storage Area Network Market?
The increasing penetration of Internet of Things (IoT) devices is anticipated to drive the growth of the server storage area network (SAN) market. IoT devices are physical objects embedded with sensors, software, and technologies that enable them to connect and exchange data with other devices over the Internet or communication networks. Their adoption is rising due to their ability to improve efficiency, automation, and data-driven decision-making across various sectors and daily activities. Within a SAN, IoT devices enhance the monitoring, management, and optimization of storage resources through real-time data collection and analysis. For example, a September 2023 report by Ericsson noted that global IoT connections reached 15.7 billion in 2023 and are forecast to grow to 38.9 billion by 2029. Hence, the increasing penetration of IoT devices is expected to propel the growth of the SAN market.
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What Are The Main Segments Of The Global Server Storage Area Network Market?
The server storage area network market covered in this report is segmented –
1) By Type: Hyperscale Server Storage Area Network, Enterprise Server Storage Area Network
2) By Services: Professional, Managed
3) By Application: Small Enterprise, Medium-Sized Enterprise, Large Enterprise
4) By Industry Vertical: Information Technology (IT) And Telecommunication, Banking, Financial Services, And Insurance (BFSI), Manufacturing, Mobile And Entertainment, Government And Defense, Healthcare And Life Sciences
What Emerging Trends Are Influencing The Growth Of The Server Storage Area Network Market?
Major companies in the server storage area network market are integrating artificial intelligence (AI) technologies to gain a competitive advantage. An enterprise storage server (ESS) designed for AI typically includes advanced features to handle the demanding requirements of AI workloads, such as large-scale data processing, model training, and inference tasks. For instance, in August 2022, International Business Machines Corporation (IBM), a US-based tech firm, introduced the Enterprise Storage Server (ESS) 3500. This ESS is optimized for AI workloads, offering fast storage for AI modeling and training with features like multiple storage types, a faster controller CPU, and up to 91 GB/sec sequential read speeds.
What Is The Largest Region In The Server Storage Area Network Market?
North America was the largest region in the server storage area network market in 2023. The regions covered in the server storage area network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
