Ethernet Storage Market size is set to observe significant growth between 2022 and 2028 with the increasing deployment of ethernet owing to its cost-effectiveness and reliability coupled with rising network traffic. The elevating demand for ethernet storage to deliver high performance, zero packet losses, and low latencies will favor the market expansion. The ethernet storage also helps in creating a single physical network by leveraging familiar standards.
The industry statistics are expected to enhance over the coming years with the rising preference for simplified data center management, development and management of network virtualization technologies, and adoption of cloud services in various enterprises for data storage.
Ethernet storage allows creating a single physical network using the familiar standards. It helps data centers in native remote data replication and disaster recovery. It provides support for the storage offloads, such as Remote Direct Memory Access (RDMA), which helps to free up CPU resources and improve network performance.
Based on storage, the market is bifurcated into file storage, block storage, object storage, and hyper-converged infrastructure (HCI). Of these, HCI segment is anticipated to observe notable expansion over the forecast period owing to the ability of HCI to offer easy deployment and management. It also facilitates improved scalability, reliability, data protection, and resource utilization. The increasing adoption of HCI in edge environments and data centers to minimize the costs and simplification of IT will further favor the segment growth.
Speaking of application, ethernet storage solutions are largely used in IT & Telecom, BFSI, retail, transportation, utilities, aerospace & defense, etc. BFSI segment, however, is poised to record a considerable growth in the following years attributed to heightened adoption of storage area networks among traders to briefly go through large data volumes in less time.
North America ethernet storage market is projected to witness significant growth over the coming years. This can be majorly ascribed to the growing proclivity of organizations toward ESF-based solutions and devices coupled with the rising adoption of advanced storage technologies in the region. The major countries that are slated to contribute substantially to the regional market are the U.S. and Canada credited to the ongoing technological advancements and increased adoption of innovative solutions.
Various companies active in market are Huawei Technologies, Intel Corporation, Arista Networks, Cisco Systems, Allied Telesis, Fortinet, D-Link, Argo Technology, Vicinity, E8 Storage (Amazon.com, Inc.), Juniper Networks, Mellanox Technologies, Hewlett Packard Enterprise, Dell Technologies, Fujitsu, Microsemi Corporation, Lenovo Group, Apeiron Data Systems, etc.
These players are majorly focusing on the development of innovative solutions to gain a competitive edge in the market. For instance, in 2021, Huawei introduced NoF+, its lossless ethernet storage networking solution that incorporates end-to-end data acceleration by using CloudEngine data center storage network and OceanStor Dorado all-flash storage systems.
The global outbreak of COVID-19 pandemic is known to have affected the growth of various sectors including oil & gas, automobiles, etc. which has subsequently impacted the market outlook. The major challenges faced by the industry are resource scarcity, shifts in supply and demand chain, and decline in revenue.
Besides, the decline in manufacturing of automotive, auto products, and electronic gadgets has also hampered the market growth to some extent. However, with the gradual lifting of lockdown restrictions and restoration of business operations, industry is estimated to grow steadily over the coming years.
Market, By Device
Market, By Storage Type
Market, By Application
The above information has been provided for the following regions and countries: