The Ethernet storage fabric market 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 due to the architecture changes in enterprise data center, so the focus is more on offering higher bandwidth speeds and switching ports, and rapid adoption of Ethernet storage fabric in data center to support high-speed data transmission. These factors are expected to drive the ESF market during the forecast period. Moreover, over the last decade, storage technologies have been important for both small and medium-sized enterprises (SMEs) and large enterprises. Enterprise mobility has allowed enterprises to overcome the location barrier to leverage their data. Hence, growing need for enterprise mobility to efficiency is another driving factor for the growth of ESF market
Among all the ESF-based devices, switches accounted for the largest share of the overall ESF market, by devices, in 2018. This growth is attributed to the expansion of enterprise and cloud service provider data centers and increasing the adoption of virtualization technology boost the demand for switches with higher bandwidth. ESF is modern technology offers a convenient solution to fulfill the increasing data center connectivity requirement. In addition, the ESF-based switches support high-speed data transmission, along with 100 GbE and above switching ports, which enables end users to easily store its data on cloud.
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The ESF market for 10 GbE to 25 GbE accounted for the largest share of the overall ESF market in 2018. This growth can be attributed to the increasing demand for bandwidth in enterprise and cloud service provider data centers, which help reduced capital expenditures (CAPEX) and operational expenditures (OPEX) of end users. The 25 GbE switching ports deliver more data compared to traditional switching ports along with greater port density and a lower cost per unit of bandwidth.
Enterprise data center application held the largest share of the ESF market in 2018. This growth can be attributed to the increasing enterprise applications require high-performance connectivity, constant uptime, high throughput and high reliability to manage a vast amount of data. To address these requirements, ESF-based devices are being adopted in enterprises; therefore, evolving enterprise data centers that are powered by dynamic architectural solutions. Large enterprises across different industries have been increasingly adopting the digitization to improve their business processes. Also, revolutionizing digitization in healthcare, e-commerce, banking, and education is the key driver for the growing enterprise data centers, which would eventually drive the growth of the ESF market.
North America is expected to dominate the ESF market during the forecast period. This growth is attributed to the increasing demand for advanced data storage technologies to store data on cloud and rising adoption of new data center technologies, with the US being the major contributor. APAC held the second-largest share and was the fastest-growing region of the ESF market in 2018. Increasing government initiatives and investments from India, Japan, China, Singapore, and Australia are influencing the deployment of data centers in APAC. Hence, these initiatives and investments are creating huge opportunities for the ESF market in APAC.