Storage Area Network (SAN) Market to Hit US$ 26 Bn Mark by 2029; BFSI Sector Remains Key Growth Propeller, Reports Future Market Insights

Tuesday, 24. March 2020 14:30

Future Market Insights (FMI), Dubai, UAE, March 24, 2020 (GLOBE NEWSWIRE) -- Escalating demand for data recovery capability in variegated sectors such as IT & telecom, BFSI, and healthcare is navigating the growth of storage area network (SAN) market. FMI projects the SAN market to exceed the revenue of approximately US$ 26 Bn by 2029 end.

“With the help of SAN, leading players are solving issues such as continuous downtime periods, performance degradation, and shrinking ba-ckup windows. Moreover, technological advancements in SAN architecture are significant to the growth of market growth,” says the FMI analyst.

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Key Takeaways of Storage Area Network (SAN) Market Study

  • BFSI remains the key consumer sector in SAN market in view of greater security threats.
  • Hardware components will contribute substantially to the overall revenue pool of the SAN market.
  • Software components will witness a surge in consumption through 2029.
  • Consumers continue to exhibit greater preference for enterprise server SAN.
  • Europe and North America are the regional leaders of storage area network market.

Storage Area Network (SAN) Market – Key Growth Factors

  • Growing adoption of hyperscale server SAN is a significant growth contributor.
  • The rampant demand for fibre channel technology continues to accelerate the growth of storage area network market.
  • Surge in demand for SAN in IT & telecom is pushing the market growth.
  • Rising demand for data backup is complementing the growth of SAN market.

Storage Area Network (SAN) Market – Key Restraints

  • Interoperability issues in fibre channel technology continue to restrain the market growth.
  • Limited knowledge of manufacturers about the standards deployed in SAN technology is limiting market growth.

Explore the full Storage Area Network (SAN) market report with 177 illustrative figures, 40 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-802

Competitive Landscape

Major players featured in this FMI study include, but are not limited to, NEC Corporation, IBM Corporation, DataCore Software Corporation, Cisco Systems, Inc., Hitachi Data Systems Corporation, Citrix Systems, Inc., and Hewlett Packard Enterprise Development LP. Industry leaders have placed greater emphasis on the government sector to ensure long-term value generation. They must invest heavily in BFSI security which offers a plethora of opportunities in SAN market.

More about the Report

This Future Market Insights study of 346 pages provides all-inclusive insights on the global storage area network market. The market analysis is based on component (hardware, software, services), SAN type (hyperscale server SAN, enterprise server SAN), technology (fibre channel, fibre channel over Ethernet, infiniBand, iSCSI Protocol), vertical (BFSI, IT & telecom, energy & utility, government, military & defense, healthcare, manufacturing, retail & e-commerce) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa, Japan).

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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