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Fiber Channel Networking Market Segmented By solution such as Hardware, Software, Services with vertical in Telecommunication, BFSI, Retail and e-commerce, Government, Education, Healthcare
Fiber channel networking is a high-speed networking technology for sending data using blocks and not as files. A block in fiber channel networking refers to raw data of structured size that changes into a file when combined with other blocks determined by the application. Various hardware solutions are required to accommodate a fiber channel networking infrastructure, just like in an Ethernet network.
Companies like NetApp are innovating file-based storage and Network-attached Storage (NAS), but Storage Area Networks (SANs) with block storage on top of fiber channel networking are the stalwart that will not go away. IBM mainframes and supercomputers use fiber channel networking to use data that only ever seems to grow.
Terabyte-level SANs are not that impressive today, as advanced SANs are available that easily exceed a petabyte. Fiber channel networking market will soon witness SANs that are capable of exceeding the Exabyte market. File-based data and Ethernet networking cannot handle such huge volume of information, thus creating high demand for fiber channel networking in the global market.
However, fiber channel networking demands high initial expenditure, and the hardware solutions creating the network require timely maintenance. This factor is estimated to challenge the growth of the global finer channel networking market, as small and medium sized enterprises cannot afford to procure such expensive solutions.
Also, several industry standards have been introduced for fiber channel networking technology. Varied interpretations of such standards by market participants have in turn resulted in development of solutions that often cannot function together on the same network infrastructure.
Large enterprises are estimated to continue adopting fiber channel networking solutions for efficient data storage and security as lockdowns imposed by national governments require employees to work from their homes.
Small and Medium-sized Enterprises (SMEs) operating in industries where huge volumes of data is generated at a regular interval are estimated to accelerate the procurement of fiber channel networking solutions. However, SMEs dealing with low volumes of data are estimated to stick with Ethernet-based and file-based networking.
The overall estimates suggest that enterprise spending on networking technologies is estimated to increase during the ongoing COVID-19 pandemic.
Some of the key players in the global Fiber Channel Networking market are ATTO Technology, Inc.; Broadcom; Marvell; IBM; Cisco; NetApp Inc.; Dell Inc.; Hewlett Packard Enterprise Development LP; Lenovo.
Following are some common strategies incorporated by the key participants in the global fiber channel networking market:
Currently, fiber channel networking market in North America holds the largest market share of the global fiber channel networking market. Fiber channel networking markets in South Asia Pacific and North America are projected to offer lucrative opportunities for vendors as compared to the other regional markets.
The fiber channel networking market in the U.S. is estimated to lead the global market throughout the forecast period. Fiber channel networking markets in India, China, and Japan are expected to witness strong growth rates during the forecast period, owing to the continuous advancements in telecommunication, BFSI, healthcare and military industries in these countries.
The fiber channel networking market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.