The global multiprotocol storage market holds a forecasted share of USD 35677.2 million in 2022 and is likely to surpass USD 56782.3 million by 2032, moving ahead with a CAGR of 4.8% during the forecast period (2022 to 2032).
The global multiprotocol storage market is expected to witness significant growth over the forecast period, owing to the digital transformation across several services such as Research and Development & Testing, Information Technology (IT), Telecom, and the Internet.
| Report Attribute | Details |
|---|---|
| Multiprotocol Storage Market Value (2022) | USD 35677.2 million |
| Multiprotocol Storage Market Anticipated Forecast Value (2032) | USD 56782.3 million |
| Multiprotocol Storage Market Projected Growth Rate (2022 to 2032) | 4.8% |
In multiprotocol storage, block-based access is integrated using serial-attached SCSI (SAS), Fibre Channel, and iSCSI, along with network-attached storage (NAS) or file-based access via NFS and CIFS.
In addition to assisting in planning overall storage capacity consumption, multiprotocol storage supports server virtualization. A gateway approach allows enterprises to add a specialty file server to an existing storage system. As a result, the service life of the system is extended, and assets are used more efficiently.
Gradually reducing the package size in the microelectronics industry has impacted the microcontroller socket market growth positively. Industry requirements, such as higher density, increased operating speed, and lower power, have driven packaging in the industry. This further led to an enhanced demand within the microcontroller socket market.
The analysis highlights the advancements in the multiprotocol storage market and the development rate. It also reveals the cohesive efforts, associations, joint endeavors, and regional development of the principal competitors on a global and commonplace scale.
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
The upsurge in the consumption of goods over the past decade and the consumption trends are expected to be the important factors positively impacting the growth of the global multiprotocol storage market from 2022 to 2032.
Multiprotocol storage market growth is being driven by factors such as reduced hardware requirements, lower capital expenditures for the enterprise, easier and more centralized management of storage administration tasks, and more stable operational processes.
Several factors are hindering the growth of the multiprotocol storage market. These include operational control limitations, which cause reduced or variable storage performance, and backup strategies that are required to avoid performance issues.
North America region is the largest market for multiprotocol storage due to the presence of a wide variety of end-user enterprises and the competitive environment between them.
Due to rapid advancements in multiprotocol storage, North America is expected to capture the largest market share based on the current market scenario. It is likely to hold 37.8% of the total market share during the forecast period.
The multiprotocol storage business is growing at a significant pace due to changing technology and industry landscape.
The European regions are expected to have favorable growth, accounting for 24.1% of the global market share for the multipurpose storage market.
Multiprotocol storage market growth in the Asia-Pacific region is at a considerable pace due to the large-scale outsourcing of data storage services in this region. Latin America and the Middle East's multiprotocol storage market is at an emerging stage due to a rise in business demands and IT needs.
How is the Start-up Ecosystem in the Multiprotocol Storage Market?
In 2020, Fungible acquired the assets of Cloudistics, a cloud-software platform startup. In the long run, Fungible has overcome two major obstacles that are inefficient execution of data-centric computations within server nodes and the inefficient interchange of data among nodes.
NetApp pioneered multiprotocol systems with all its arrays adding Fibre Channel and then iSCSI connectivity options.
Pillar Data Systems, newcomer Pranah Storage Technologies and Reldata also offer NAS, Fibre Channel, and iSCSI in the same box.
Some of the key players in the multipurpose storage market are IBM Corporation, Cisco, NetApp, NTT Communications Corporation, EMC Corporation, Avere, Hewlett-Packard, and Zadara Storage.
The key companies are channelizing their capital towards the development of new products through intrinsic research and development activities. In addition to this, established players are promoting the use of multiprotocol storage by providing platforms for the development of IP SANs and NAS Systems.
IBM Storage Networking has designed a solution to scale to large enterprise deployments through scale-out server architecture with automated failover capability. These capabilities provide a resilient management system that centralizes infrastructure and path monitoring across geographically dispersed data centers.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.8 % from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Type, By Segment, By Application, Region Forecast till 2032 |
| Countries Covered | North America; Europe; Asia Pacific Excluding Japan; Latin America; Middle East and Africa |
| Key Companies Profiled | IBM Corporation; Cisco; NetApp; NTT Communications Corporation; EMC Corporation; Avere; Hewlett-Packard; Zadara Storage |
| Customization | Available Upon Request |
The multipurpose storage market is projected to grow by USD 35677.2 million in 2022.
Some of the key players in the multiprotocol storage market are IBM Corporation, Cisco, NetApp, NTT Communications Corporation, and EMC Corporation.
The North American region dominates the multiprotocol storage market.
The multiprotocol storage market is expected to grow at a CAGR of 4.8% from 2022 to 2032.
| Market Value in 2023 | USD 21,400 million |
|---|---|
| Market Value in 2033 | USD 30,800 million |
| CAGR (2023 to 2033) | 3.7% |
Explore Digital Transformation Insights
View Reports
Multiprotocol Storage Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
