Ethernet Storage Fabric Market estimated to be worth $2.3 billion by 2024

(IT-NEWSWIRE.COM, November 19, 2021 ) The report "Ethernet Storage Fabric Market by Device (Switches, Adapters), Switching Port (10 GbE to 25 GbE, 100 GbE and Above), Storage Type (Block Storage, Hyper-Converged Infrastructure), Automation (Enterprise Data Center), and Geography - Global forecast 2024", is expected to grow from USD 1.2 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 12.7% during the forecast period. Need for simplified data center management, rapid adoption of Ethernet storage fabric, and growing need for enterprise mobility to improve efficiency are the key driving factors for the growth of the ESF market.

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The market for switches to grow at the highest CAGR during 2019–2024
The market for switches is expected to grow at the highest CAGR during the forecast period. This growth is attributed due to their attractiveness in terms of economics and easy deployment. The expansion of enterprise and cloud service provider data centers and increasing adoption of virtualization technology boost the demand for switches with higher bandwidth. Moreover, many device manufacturers are focusing on to strengthen their position in the ESF market by using organic growth strategies such as product launches and developments. For instance, in November 2018, Cisco Systems launched Catalyst 9000 series switches for intent-based network. Cisco’s catalyst 9000 switches are the expansion of its previous catalyst switches, which help end users to deploy a smarter, simpler, and secure network.

Hyper-converged infrastrucutre storage type to hold a major share of the Ethernet storage fabric (ESF) market in 2019
In terms of value, hyper-converged infrastructure (HCI) is expected to account for the largest share by 2024. Increasing demand for cost-effective and highly secure storage by enterprise and cloud service provider data center for data storage are expected to spur the growth of HCI storage. Moreover, HCI integrates compute, storage, and networking with intelligent and automated software-defined data center (SDDC) management system and software layer, which defines the operational aspects of that infrastructure. Hence, HCI is the complete solution for organizations that have heavily invested in virtualization technologies. Such factors and advantages will result in the high adoption of HCI storage in the ESF market.

North America to hold a major share of the Ethernet storage fabric (ESF) market in 2019
North America is expected to dominate the ESF market during the forecast period. The market in North America is expected to experience a greater traction as a significant number of organizations are likely to opt ESF-based devices and solutions for cloud services to save their upfront cost of building advanced data centers for business continuity. Also, the US is the home for global cloud service providers and companies such as Amazon Web Services (AWS) and Microsoft (US) that provide data center infrastructure. Moreover, leading companies in the ESF market that account more than half of the revenues are based in the US.

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) are some of the major companies dominating the ESF market.

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Ethernet Storage Fabric Market estimated to be worth $2.3 billion by 2024