Modular Storage Area Network (SAN) Solutions Market REPORT OVERVIEW
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The global modular storage area network (SAN) solutions market size expanded rapidly in 2021 and the market is projected to grow substantially by 2031, exhibiting a prodigious CAGR during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the modular storage area network (SAN) solutions market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A computer network that provides access to integrated and block-level data storage is known as a storage area network (SAN). It is an effective, quick data transfer network that connects storage units like disc arrays and tape libraries, giving users access to integrated and block level storage. It does away with the need to keep separate storage. Also, it facilitates swift and efficient data exchanges. It permits seeing the data on local drives and provides centralized backup of the data that has been stored.
COVID-19 Impact: A Different Set of Laws and Regulations to Support the Market Growth
Almost every industry has experienced a substantial impact as a result of the COVID-19 epidemic. Lockdowns and a few strict laws and restrictions were adopted by the majority of countries to stop the virus's spread. Because of the lockdown and restrictions on the flow of non-essential goods and resources in other countries, the supply chain for electronic components and networking equipment has been disrupted. This causes a delay in the production of equipment. The modular storage area network (SAN) solutions market has experienced a considerable slowdown, as a result of increased ICT spending in important markets. Spending more on digital infrastructure could lead to a growth in the market.
LATEST TRENDS
"Expanding the Use of Storage Area Networks (SANs) in Small Businesses to Drive Market Expansion"
modular storage area network (SAN) solutions are becoming more popular as small and medium-sized businesses (SMEs) expand across the world. Storage area networks (SANs) are widely used in small businesses due to their benefits like centralized power, cloud resources, and flexibility. These elements are projected to accelerate market expansion. Small and medium-sized businesses (SMEs) account for the majority of all businesses worldwide.
Modular Storage Area Network (SAN) Solutions Market Segmentation
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- By Type Analysis
By type, the modular storage area network (SAN) solutions market is segmented into off the shelf hypervisor and custom built hypervisor.
The custom built hypervisor segment will dominate the modular storage area network (SAN) solutions market in the coming years.
- By Application Analysis
Based on applications, the modular storage area network (SAN) solutions market Large Enterprises and SMEs.
The large enterprises segment will lead the global share through 2028.
DRIVING FACTORS
"Increasing Use of E-Commerce Websites will Drive Market Expansion"
Due to a growth in e-commerce website usage, consumers are using online channels more frequently. In order to improve performance and efficiency, storage area network (SAN) solutions are typically used in this scenario to store crucial data and information in databases with high traffic. For instance, there are currently millions of e-commerce websites operating worldwide, and that number is growing every day. In the following years, it is anticipated that eventually all sales would be made online.
"Internet of things (IoT) Adoption Across Various Industries to Spur Market Growth "
The acceptance of cloud computing is being supported by the increased use of internet of things (IoT) in a variety of industries, including manufacturing and retail, healthcare, and others. This will generate enormous prospects for the growth market over the course of the projection period. Due to the rising usage of mobile computing devices such tablets, smartphones, and laptops, there will be an increase in the digitization of information in business and residential locations, which will accelerate market growth. Moreover, the market growth is positively impacted by the rise in digital information generation across several business verticals, including BFSI and retail, among others.
RESTRAINING FACTORS
"Lack of Consumer Knowledge will Impede Market Expansion "
The modular storage area network (SAN) solutions market will face additional challenges during the forecast period due to factors such as a lack of awareness regarding deployment concerns and the advent of new storage technology due to complex integration. The market for modular storage area network (SAN) solutions will face more difficulties throughout the forecast period as a result of things like a lack of knowledge about deployment issues and the introduction of new storage technology owing to difficult integration.
Modular Storage Area Network (SAN) Solutions Market REGIONAL INSIGHTS
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"North America to Grow at the Highest Modular Storage Area Network (SAN) Solutions Market Share During the Forecast Period "
Due to the increased penetration and use of storage area networks (SAN) solutions around the globe, North America currently holds a hefty market share and dominates the global market for SAN solutions. Also, a rise in nominal network traffic intervention will probably accelerate market expansion in this area. the global modular SAN solutions market as a result of the increased penetration and use of storage area networks (SAN) solutions around the world. A surge in nominal network traffic intervention will also probably hasten this market's expansion.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Cisco (U.S.)
- Datrium (U.S.)
- IBM (U.S.)
- Hitachi (Japan)
- Maxta (U.S.)
- Fujitsu (Japan)
- Nutanix (U.S.)
- Pivot3 (U.S.)
- Scale Computing (U.S.)
- VMware (U.S.)
- Huawei (China)
- Dell (U.S.)
- Oracle (U.S.)
- NEC (Japan)
- NetApp (U.S.)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services, or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes several other factors that have contributed to recent modular storage area network (SAN) solutions market growth in some regions.
Frequently Asked Questions
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What are the key factors driving the modular storage area network (SAN) solutions market?
Expanding the use of storage area networks (SANs) in small businesses is some of the driving factors of the modular storage area network (SAN) solutions market.
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What is the leading region in the modular storage area network (SAN) solutions market?
North America is the leading region for the modular storage area network (SAN) solutions market.
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What are the key players in the modular storage area network (SAN) solutions market?
Cisco, Datrium, IBM, Hitachi, Maxta, Fujitsu, Nutanix, Pivot3, Scale Computing are some of the leading players in the modular storage area network (SAN) solutions market.
