LOS ANGELES, April 24, 2019 (GLOBE NEWSWIRE) -- The global storage area network (SAN) solutions market size is estimated to grow at CAGR above 4.5 % over the forecast time frame 2019-2026 and reach the market value around USD 24.4 billion 2026.
During the forecast period, the world market in storage area network (SAN) solutions will show considerable growth and will be driven mainly by the rapid advancement in technologies and business operations. SANs are used primarily to improve the accessibility of server storage devices, for example floppy arrays or tape libraries, to make devices appear as locally attached devices in the operating system. A SAN generally consists of a devoted network of storage devices which cannot be accessed by any other device via the local area network (LAN), preventing LAN transmission interferences.
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Segment Insights
On the basis of components, technology and end use the storage area network solutions market is broken down. The market is divided into hardware, software and services (consulting, system integration, support & maintenance). The hardware was major segment in 2017 and will dominate the market by the end of 2026. At the end of the forecast period, however, the software segment is anticipated to expand with the highest CAGR. The research has shown that the hardware segment will dominate the market in component terms due to a large demand for networking storage area devices worldwide. In the near future, the software segment will also have a strong growth, mainly because of lower SAN software solutions costs. The software sector is dominated by the growing use of cloud technology among companies worldwide. The fiber channel (FRC), infiniBand, fiber via Ethernet (FCoE) and iSCSI protocol was segmented based on technology. The technology segment in fiber channels had the main share in the general network solutions market for storage areas in 2016. As for end-use, the market was converted into BFSI, retail & e-commerce, government & education, military & defence, healthcare, IT & telecoms, energy & utilities, manufacturing etc. Healthcare is anticipated to see strong acceptance of SAN solutions on the basis of an increase in demand for file-storage servers, given the growing worldwide health data. In 2018, the IT and telecommunications sector accounted for 20% of the global market for SAN solutions. This is mainly due to increased demand for storage space from companies. Many companies also emphasize the use of data and information-related opportunities in applications like social media, healthcare, transport and others like banking, financial services and insurance, which are expected to complement the growth of SAN solutions.
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Regional Outlook
Regional growth is due to the strong adoption and penetration of software, hardware, and services in storage area areas as well as a considerable application of storage zone network solutions in several end-user segments in the region. North America is expected to play a significant role in the storage area network solutions market. Asia Pacific market is expected to b experience profit - making growth in India, Japan, the Philippines and Singapore, as the use of such software increases. Moreover, during the projected period, there is a projected increase of markets in the Middle East and Africa (MEA) and South America.
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Key Players and Strategies
The storage area network (SAN) solutions market is consolidated with large number of manufacturers. Attracted by rapid technological progress and increased ICT expenditure, many players develop comprehensive hardware and software suites. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are Dell Technologies Inc., IBM Corporation, Oracle Corporation, Hitachi Ltd., Huawei Technologies Co., Ltd., NetApp, Inc., NEC Corporation, Hewlett Packard Enterprise, Pure Storage, Inc., Fujitsu Limited, IDG Communications, Inc., DataDirect Networks and Cisco Systems, Inc.
A thorough study of the global Storage area network (SAN) solutions market is provided in ARC report, while a rich analysis of the situation in the market is carried out, focusing on their drivers, opportunities, restrictions and trends. The report examines the outcome of the product in the industries and applications concerned. The global reports provide comprehensive data on procedures which current market vendors might try to gain momentum alongside an examination of new players ' entry points.
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