Global Software
Defined Storage Market: Snapshot
The emergence of hyper-scale data has facilitated the expansion of
software defined storage in recent days. This technology is expected
to enhance the performance of the storage environments, thus reducing
the cost involved in IT infrastructure. Wide expansion of data in
recent years has led to the growth of software defined storage market
over the forecast period. Growing cloud based infrastructure has also
fuelled the growth of software defined storage market. Rise in the
adoption of virtualization technologies by small and medium scale
enterprises has fuelled the growth of the software defined storage
market globally. New technologies such as BYOD and Big Data, among
others have been a push factor for the growth of software defined
storage market over the years to come. Development of cloud-based
infrastructure over the years to come is projected to create more
market opportunities for the software defined storage market. Against
this background, the global market is projected to be worth US$48.18
bn by the end of 2025 from US$4.86 bn in 2016. The global software
defined storage market is projected to progress at a CAGR of 29.2%
during the forecast years of 2017 and 2025
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BFSI Industry to
Hold Leading Share in Global Market
The end users in the global software defined storage market are
industries such as the BFSI, telecom, manufacturing, education, media
and entertainment, healthcare, high tech, and others such as
logistics and warehouses, and e-commerce. Of these, the BFSI industry
is expected to account for the leading share in the global market.
The sector is expected to continue its dominance in the coming years
as the sector is realizing the urgent need for foolproof data back up
plans. On the other hand, the healthcare industry has also been
identified as one the fast growing segments owing to the increasing
expenditure for the development of healthcare sector globally.
Analysts expect that BFSI industry will progress at a CAGR of 29.4%
in the global market over the forecast period.
North America to
Lead Global Market due to Higher Acceptance of Technology
On the basis of geography, the global software defined storage market
is divided into Asia-Pacific, North America, the Middle East and
Africa, Europe, and Latin America. Out of all these regions, North
America accounted for the dominant market share in 2016 and it is
projected to dominate the software defined storage market over the
forecast period. This trend will be attributable to the strong
presence of software defined storage solution vendors in the regional
market. The U.S. is expected to lead the North America software
defined storage market due to a higher acceptance of the technology.
Asia-Pacific held a considerable market share of the software defined
storage market in 2016 and it is likely to have an increasing market
share over the forecast period. Adoption of virtualization
technologies in this region has eased the expansion of software
defined storage market. China held a considerable market share of the
software defined storage market in 2016 and it is likely to have a
considerable market share over the years to come. Latin America is
one of the fast growing regions and it is likely to have a decent
market share over the forecast period. Brazil held the maximum market
share of the software defined storage in this region over the
forecast period.
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The important players operating in the global software defined
storage market are Dell Inc., VMWare, Inc., Dell EMC, Oracle
Corporation, Microsoft Corporation, International Business Machines
Corporation, Hitachi Data Systems Corporation, Hewlett-Packard
Enterprise, NetApp, Inc., and Cisco Systems, Inc.
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