According to a new report, published by KBV research, The Global Storage Area Network (SAN) Market size is expected to reach $45.2 billion by 2031, rising at a market growth of 10.5% CAGR during the forecast period.
The Hyperscale Server SAN segment is leading the Global Storage Area Network (SAN) Market by Type in 2023; thereby, achieving a market value of $28.8 billion by 2031. Hyper scale server SANs deliver high-performance storage capabilities by harnessing multiple servers’ combined computing power and storage bandwidth. By aggregating storage resources and leveraging parallel processing techniques, hyper-scale server SANs can achieve high throughput, low latency, and efficient data access for demanding applications, databases, and analytics workloads.
The Software segment is anticipating a CAGR of 11% during (2024 - 2031). SAN software solutions offer automation and orchestration capabilities that streamline storage provisioning, configuration, and management tasks. Organizations can automate routine storage operations through policy-based automation, such as provisioning LUNs, allocating storage resources, and optimizing storage performance. SAN software also supports orchestration frameworks.
The Fiber Channel (FC) segment dominated the Global Storage Area Network (SAN) Market by Technology in 2023; thereby, achieving a market value of $17.5 billion by 2031. Fiber channel technology provides high-speed, low-latency storage connectivity, making it ideal for demanding applications and workloads that require fast data access and transfer rates. As organizations increasingly adopt data-intensive applications such as databases, analytics, and virtualization.
The IT & Telecom segment is registering a CAGR of 10.2% during (2024 - 2031). The IT & telecom segment generates and processes vast amounts of data due to the proliferation of digital services, communication networks, and IoT devices. SAN solutions provide scalable and high-performance storage infrastructure to handle the data-intensive operations of IT & telecom companies, including data storage, processing, analytics, and content delivery.
Full Report: https://www.kbvresearch.com/storage-area-network-market/
The North America region dominated the Global Storage Area Network (SAN) Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $15.8 billion by 2031. The Europe region is experiencing a CAGR of 10.1% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 11.3% during (2024 - 2031).
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