The United States is likely to account for a prodigious CAGR of 9.6%, with a worth of USD 1.7 billion by 2033, according to Future Market Insights, Inc. The USA is anticipated to dominate the North American market with a substantial value share in terms of consumption over the forecast period.
The organic food business, which is expanding at a reasonable pace, is the key driver of the biostimulant market. The market is also expanding as more farmers adopt sustainable farming practices.
The lawn and ornamental segment of the region drives demand in the North American region. Regional adoption of biostimulants is boosted by favorable rules, as well as an emphasis on organic farming and yield enhancement.
The region gives new industry participants an opportunity to enter the market for agricultural investment. The market was expanding at a CAGR of 8.9% in 2022, with an absolute growth rate of USD 1.0 billion.
The USA has been one of the major consumers of bio-based products owing to growing environmental concerns and strict regulations in the region. Technological advancements are an added advantage for the country to be an attractive production location for biostimulants manufacturers.
The global Storage Area Network (SAN) Market is set to surpass a valuation of USD 21,400 million in 2023, and further expand at a CAGR of 3.7% to reach USD 30,800 million by the year 2033. The storage area network (SAN) market accounts for around 7% of the global next-generation data storage market.
Major factors propelling the adoption of storage area network (SAN) include:
| Attribute | Value |
|---|---|
| Storage Area Network (SAN) Market Value in 2023 | USD 21,400 million |
| Storage Area Network (SAN) Market Value in 2033 | USD 30,800 million |
| Storage Area Network (SAN) CAGR (2023 to 2033) | 3.7% |
| Share of Top 5 Market Players | 25% |
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The introduction and adoption of hybrid SAN-NAS solutions is another growing trend being witnessed in the global storage area network (SAN) industry. Hybrid solutions enable enterprises to merge block and file-based data on a common array. Unified storage systems support files, along with block-based protocols such as FC and NFS, and HDD and flash-based storage drives.
Although the architecture of unified storage systems is more complex as compared to individual implementations, it is expected to become simplified in the future to meet the increased demands of enterprises. These developments are expected to reduce the dependency of enterprises on a single architecture for their dynamic requirements.
Traditional means of storage of data and critical information is proving to be inefficient for current requirements, and fast access to vast amounts of data is a major challenge in this scenario. Traditional SCSI (Small Computer Systems Interface) technology utilizes parallel cabling, which reduces speed, and distance and limits the number of attached storage devices.
With computing environments shifting from server-centric to data-centric models, efficient access to shared data resources is becoming critical. This prolific growth in the information that needs to be stored, managed, maintained, and retrieved has compelled IT decision-makers to make storage decisions separate from server decisions. This in turn is driving the growth of the storage area networks market.
Principal Consultant
The global storage area network (SAN) market is estimated to be valued at USD 20,500 million in 2022. The demand for storage area networks (SAN) grew at a CAGR of 4.4% during the period 2017 to 2022.
The growth will continue to accelerate due to increased IT spending in emerging economies and increasing demand for efficient data backup and storage operations. The need to store a large volume of critical data among enterprises for better performance, availability, manageability and security of data storage assets has increased over the years. Therefore, many market players are integrating advanced technologies in SAN solutions such as Fibre Channel (FC) SAN, Fibre Channel over Ethernet (FCoE) SAN, InfiniBand SAN, and iSCSI Protocol SAN.
Both hyper-scale server SAN and enterprise server SAN are used to enhance the capacity of mass storage devices (tape libraries, optical jukeboxes, and disk arrays) that have access to servers. As a result, the market for storage area networks (SAN) is anticipated to rise at a CAGR of 3.7% during the forecast period.
Sales revenue of the storage area network (SAN) industry in the USA is estimated to increase at a CAGR of around 2.6% between 2023 and 2033 and USA storage area network (SAN) sales are projected to reach USD 7.3 billion by 2033.
The USA market is estimated to have the highest market share in the North American region owing to the presence of major players, the adoption of advanced technologies, and rising demand for storage area networks (SAN) across various business verticals. In the USA, many IT enterprises are adopting technologies like mobile, big data, and cloud which are driving the demand for SAN technology.
In addition to that USA, government invests heavily in cloud storage and shared services for IT requirements and this is expected to propel the demand for the storage area network (SAN) market in the USA
Japan is predicted to remain one of the most attractive storage area networks (SAN) markets in the APAC region, and the market size is estimated to surpass USD 1.3 billion by 2033. Japan's market is anticipated to grow at a CAGR of 3.2% from 2023 to 33.
Japan's government supports municipalities and companies to establish data centers across different regional cities in bid. It helps to develop the infrastructure for a digital society. For instance, in February 2020, NEC partners and Telefonica, a leading provider of integrated communication solutions, announced the launch of Telefonica’s IP Network Fusion Project for digital network transformation in the Chilean market.
Thus, the rising adoption of data centers owing to innovations and the spread of telemedicine in the country to process large amounts of information is ultimately driving the demand for the storage area network (SAN) market during the forecasted period.
India is set to register a significant growth of storage area network (SAN) sales with a CAGR of 6.1% from 2023 to 33. India's market is anticipated to create an absolute dollar opportunity of USD 1.8 billion from 2023 to 33.
India is witnessing significant growth in SAN product sales in coming years due to the rising adoption of digitization over the past decade in India. Businesses in India are focusing on investing in the data storage sector. For instance, in August 2022, Businesses in the country aim to invest in data center projects.
Therefore, government support for digitization and development in data center projects for many businesses in the country spurs the demand for the SAN solutions market by 2033.
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By component, the hardware segment is expected to showcase a growth of 3.2% during 2023 to 33. Moreover, the software segment is expected to grow 1.4X by 2033.
SAN provides advantages such as reduced LAN bandwidth problems, improves data security, responsive backup, increases scalability, and many more. However, an increase in the overall server efficiency with server-less backup offered by SAN architecture is expected to spur the demand for the SAN hardware segment over the years.
By technology, Fibre Channel (FC) segment dominates with a market share of 64.5% in 2022 and it is expected to grow at a CAGR of 3.0% by 2033.
Over the decade, FC SANs have been mainstays for many companies to increase manageability and storage utilization while reducing costs. Fibre Channel SANs provide advantages such as accelerating backup and restoring enterprise data, improving business continuance, boosting high availability and fostering storage consolidation. Due to such advantages, FC SANs are expected to continue their dominance in the storage area network (SAN) sales revenue.
Based on vertical, the BFSI segment will be a dominating segment and the market size is expected to increase up to 1.3X by 2033. Moreover, IT & telecom is set to register the highest growth at the rate of CAGR 4.8% during 2023-33. Thereby adoption of SAN solutions is increasing in the BFSI sector as it helps to improve security for financial data.
SAN architecture helps to improve data security and provides benefits such as lower cost of ownership and a higher return on information management to BFSI stakeholders as well as others. Thereby, the adoption of SAN solutions is increasing in the BFSI sector as it helps to improve security.
During the projected period, enterprise server SAN type is expected to see substantial market expansion at a 3.8% CAGR. The advantages that users implement, such as rapid backups, higher scalability, clustered file storage, increased data security, and others, account for the market expansion.
Furthermore, network-linked storage networks based on local area networks are frequently subject to bandwidth restrictions, which reduce efficiency and lengthen the time needed to perform routine operations and transfers.
Major players in the storage area network (SAN) industry are focusing on investing heavily in innovation, research, and development practices to offer different solutions for various industrial applications. For enhancing the presence, customer base, and solution offering market players are undergoing various strategies such as partnerships, collaborations as well as acquisitions.
Shibuya
Shibuya is a Swedish company that offers IT support for commercial infrastructure. Shibuya, a member of the Pulsen Group, offers specialized IT solutions throughout the Nordic area. Shibuya required a cost-effective solution for its IT infrastructure to expand as a company with data-intensive applications like artificial intelligence (AI), big data, and analytics. It was able to satisfy its client's needs by implementing IBM Storage Networking SAN46B-6.
Keelings
A global provider of fresh produce with 2,400 workers and operations in 42 countries is Keelings, situated in Ireland. Growing, sourcing, delivering, promoting, and selling fresh produce are its key priorities, along with ERP software designed specifically for the produce industry.
When Keelings began to outgrow its old SAN system, Pure Storage was acquired to help boost storage performance and provide maintenance on its spinning-disk systems.
Recent Developments in the Storage Area Network (SAN) Market:
| Attribute | Details |
|---|---|
| Market value in 2023 | USD 21,400 million |
| Market CAGR 2017 to 2022 | 4.0% |
| Share of top 5 players | Around 25% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2017 to 2022 |
| Market Analysis | USD Million for Value |
| Key regions covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific Excluding Japan; Japan; the Middle East; Africa; and GCC countries |
| Key countries covered | The USA, Canada, Germany, The United Kingdom., France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, Australia and New Zealand, Turkey, Northern Africa, and South Africa |
| Key market segments covered | Component, SAN Type, Technology, Vertical, Region |
| Key companies profiled | Shibuya; Keelings; NetApp, Inc; Hewlett Packard Enterprise Development LP; Citrix Systems, Inc; QLogic Corporation; Hitachi Data Systems Corporation; Nutanix, Inc.; DataCore Software Corporation; Dell Inc.; IBM Corporation; NEC Corporation |
| Report Coverage | Market forecast, company share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, market dynamics and challenges, and strategic growth initiatives |
| Customization & pricing | Available upon request |
In 2023, the market is predicted to be worth USD 21,400 million.
Hybrid SAN-NAS solutions get progressively prevalent and this is a trend that is being experienced.
The market to continue to thrive at a 3.7% CAGR through 2033.
The hardware segment to accelerate a CAGR of 3.2% by 2033.
By 2033, the market is expected to be worth USD 30,800 million.
The United States market to surge at a CAGR of 2.6% through 2033.
Japan market to surge at a CAGR of 3.2% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Component 5.1. Hardware 5.2. Software 5.3. Services 5.3.1. Consulting Services 5.3.2. System Integration Services 5.3.3. Support & Maintenance Services 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By SAN Type 6.1. Hyperscale Server SAN 6.2. Enterprise Server SAN 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Technology 7.1. Fibre Channel 7.2. Fibre Channel Over Ethernet 7.3. InfiniBand 7.4. iSCSI Protocol 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. Asia Pacific excluding Japan (APEJ) 8.6. Japan 8.7. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. APEJ Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. Japan Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. NetApp, Inc 18.2. Hewlett Packard Enterprise Development LP 18.3. Citrix Systems, Inc 18.4. QLogic Corporation 18.5. Hitachi Data Systems Corporation 18.6. Nutanix, Inc. 18.7. DataCore Software Corporation 18.8. Dell Inc. 18.9. IBM Corporation 18.10. NEC Corporation 19. Assumptions & Acronyms Used 20. Research Methodology
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Storage Area Network (SAN) Market
