The storage networking market has been forecast to reach a value of US$24.3 billion by 2018, with the industry set to be predominantly driven by digital data explosion and the resulting need for efficient data storage infrastructure among enterprises.
The entertainment and healthcare industries are the primary contributors for growth in the global storage networking market. The explosion of data in these industries is especially bringing out these two sectors as lucrative adopters of storage networking technologies.
One of the key factors cited for increased demand for storage networking technologies from the entertainment industry is the increased data generation as a result of proliferation of broadband Internet and data intensive internet related activities.
Furthermore, the adoption of server virtualisation and the robust demand coming from developing markets, Asia-Pacific in particular augurs well for the future of the storage networking market.
Asia-Pacific is set to show the fastest growth rate within the storage networking market, with annual revenue and storage capacity shipments rising at a compound annual growth rate (CAGR) 9.8% and 38.2%, respectively, through to 2018.
The storage area network (SAN) market represents the largest segment, accounting for a majority share in global revenue as well as in total capacity shipped. SAN) is a dedicated network that provides access to consolidated, block level data storage. SANs are primarily used to make storage devices, such as disk arrays, tape libraries, and optical jukeboxes, accessible to servers so that the devices appear like locally attached devices to the operating system.
For more information on the storage networking market, see the latest research: Storage Networking Market
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