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Ethernet Storage Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI3407

Ethernet Storage Market size is set to record stellar growth between 2023 and 2032 led by the rapid deployment of ethernet worldwide.
 

Ethernet has gained substantial traction in the recent past owing to the rising network traffic and the surging demand for cost-effective and reliable networking technologies worldwide. Ethernet storage ensures zero packet losses, high performance, and low latency, further helping in establishing a single physical network based on familiar standards. The growing incidences of data breaches have further propelled the adoption of industrial ethernet.
 

Ethernet connection offers controlled security for the users on the network, subsequently preventing harmful security breaches. Hence, the surging adoption of ethernet connection is fostering lucrative demand for ethernet adapters. Network-attached storage (NAS) also offers multiple benefits including easy access to centralized file storage, easy installation & application, automated local cloud backup, lower hardware costs, compact. The growing affordability of these solutions for residential, and commercial applications will also influence the industry growth.
 

However, the outbreak of the COVID-19 pandemic had a significant impact on the ethernet storage market. The industrial ethernet requirements took a toll in the wake of the pandemic due to the implementation of stringent lockdowns which hampered productivity across various verticals. It also negatively influenced the manufacturing of electronics, automobiles, and automotive parts.
 

Furthermore, the conflict between Russia and Ukraine aggravated issues associated with raw material procurement, supply and demand gaps, and inflation. Several Western tech firms withdrew services and products in Russia post-invasion and digital censorship was intensified by Kremlin, altering the space of the internet, thus negatively affecting the ethernet storage industry. 
 

Based on storage, the ethernet storage market is classified into object storage, file storage, hyper-converged infrastructure (HCI), and block storage. Among these, the market share of the HCI segment is projected to rise notably through 2032 owing to the easy deployment and management of HCI. It ensures higher scalability, data protection, resource utilization, and reliability. With the surging number of data centers worldwide, the adoption of HCI infrastructure is set to increase for cost savings and simplification of IT, adding to the market development.
 

In terms of application, the ethernet storage market valuation from BFSI applications is expected to record substantial remuneration over 2032 owing to the growing volumes of data across the banking and finance sector. Ethernet Bandwidth On-Demand (BoD) services are increasingly used by BFSO firms to perform data-intensive activities efficiently and smoothly. Recent advancements in BoD are allowing customers to boost subscribed bandwidth by 4 times and activate additional bandwidth within 30 minutes, influencing the segment growth.
 

Regionally, North America ethernet storage market size is poised to expand at a substantial rate from 2023-2032 driven by the growing inclination toward ESF-based tools and solutions. The region is expected to emerge as a prominent ethernet hub with the surging adoption of storage technologies. Furthermore, rapid digitization and the ongoing advancements in next-generation technologies will spur industry expansion in the region.
 

The competitive landscape of the global ethernet storage market includes Intel Corporation, Huawei Technologies, Arista Networks, Allied Telesis, Cisco Systems, Fortinet, Argo Technology, D-Link, Vicinity, Juniper Networks, E8 Storage (Amazon.com, Inc.), Mellanox Technologies, Dell Technologies, Hewlett Packard Enterprise, Fujitsu, Lenovo Group, Microsemi Corporation, Apeiron Data Systems. These companies are launching novel products and boosting innovation for achieving a competitive edge.
 

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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