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The Ethernet storage fabric (ESF) market is expected to reach USD 1.2 billion in 2019 and is projected to reach USD 2.3 billion by 2024; it is estimated to record a CAGR of 12.7% from 2019 to 2024
NEW YORK, June 10, 2019 /PRNewswire/ -- The Ethernet storage fabric market projected to grow at a CAGR of 12.7% during 2019–2024
The Ethernet storage fabric (ESF) market is expected to reach USD 1.2 billion in 2019 and is projected to reach USD 2.3 billion by 2024; it is estimated to record a CAGR of 12.7% from 2019 to 2024. The growth of the ESF market can be attributed to the rapid adoption of Ethernet storage fabric and need for simplified data center management. However, fear of vendor lock-in organizations' resistance to adopt modern technologies is the major restraints for the growth of the ESF market. Growing bandwidth requirements in data center and increasing need for technologically advanced storage solutions are the key growth factors for the growth of the ESF market. Major challenges faced by the ESF market is compatibility with data center architecture.
Read the full report: https://www.reportlinker.com/p05781519/?utm_source=PRN
The Ethernet storage fabric market by device for switches to grow at the highest CAGR during forecast period
Switches are expected to continue to grow with the highest CAGR of ESF market during the forecast period owing to its features such as cost-effective and scalability.Considering the rising demand for storage data on enterprise and cloud service provider data center, many players are heavily investing in manufacturing of ESF-based devices such as Mellanox Technologies, HPE, and Huawei Technologies.
Moreover, HPE selects Mellanox Spectrum Ethernet switch to power its StoreFabric M-series storage networking switches. These factors have created huge opportunities for ESF-based switches in the market.
The cloud service provider data center is the fastest growing application of the market during forecast period
The cloud service provider data center expected to grow at the highest CAGR during forecast period. Major drivers for the rising adoption of cloud service provider data center are the growing trend of adopting big data analytics; rising demand from organizations for agile, scalable, and cost-effective computing technology; and increasing adoption of hybrid cloud technology.
The Ethernet storage fabric market in Asia Pacific
APAC is expected to be the fastest-growing region in the ESF market.In APAC, increasing number of small-and medium-scale enterprises and the adoption of digital technologies in them further drive the demand for enterprise data centers.
Moreover, the increasing penetration of the Internet and rising population of internet users in the region creates a massive amount of data that drive the demand for cloud service provider data centers.All these parameters generate the need for high storage and switching solutions across the network infrastructure in enterprise and cloud service provider data centers.
Hence, these factors are likely to result in the highest CAGR of the ESF market in APAC during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in the Ethernet storage fabric market. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
• By Designation: C-level – 35%, Managers – 65%
• By Region: Americas – 40%, Asia Pacific – 33%, and Europe – 27%
The report profiles key players in the Ethernet storage fabric market with their respective market ranking analysis. Prominent players profiled in this report are Mellanox Technologies (Israel), Huawei Technologies (China), Juniper Networks (US), Arista Networks (US), Hewlett Packard Enterprise Company (US), Intel Corporation (US), and Dell Technologies Inc. (US), Cisco Systems Inc., (US), Fujitsu (Japan), Fortinet (US), Microsemi Corporation (US), Allied Telesis Holdings K.K.(Japan), Lenovo Group (China), D-Link (Taiwan), H3C Technologies CO., Limited (Taiwan), Vicinity (US), Apeiron Data Systems (US), Argo Technologie SA (Switzerland), E8 Storage (US), and Edgecore Networks (Taiwan).
Research Coverage:
This research report categorizes the global Ethernet storage fabric market on the basis of device, switching port, storage type, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the Ethernet storage fabric market and forecasts the same till 2024.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the Ethernet storage fabric market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
Read the full report: https://www.reportlinker.com/p05781519/?utm_source=PRN
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