The software defined storage (SDS) market size is expected to reach USD 17,461.9 million by 2024, according to a new study conducted by Grand View Research, Inc.
The
emergence of the Big Data technology is anticipated to impel growth in the
global software defined storage market. Technological propagation, coupled with
benefits such as high flexibility and cloud storage, is instrumental in keeping
the industry prospects upbeat. The technology facilitates the efficient
management and control of complex networks through proficient resource data
traffic management.
The
advancements in the cloud technology, its availability, and wider access to
cloud-based platforms are favorably impacting the industry. Various enterprises
across the globe are experiencing the need for minimizing infrastructure
development and data storage center costs which are significantly contributing
toward theexpansion of the industry.
Enterprises
across diverse verticals are generating excessive data, creating the need for
effective data storage management solutions. SDS solutions offer high agility
and robustness to businesses along with cost and time efficiency.
The
industry is projected witness significant growth in the developing markets of
South America and the Asia Pacific regions, owing to thestrong growth of the
small-scale industries. The need for improving the efficiency and business
processesin data centers is driving the demand for SDS solutions in small and
medium-sized enterprises.
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Software Defined
Storage Market Report Highlights
- The BFSI segment dominated
the global software defined storage industry, accounting for over 17% of
the market share in 2015. The large-scale data generation in the banking
and financial institutions and the need for incessant data availability
are leading to the large-scale adoption of SDS solutions in the BFSI
sector.
- The North American regional
market accounted for over 40% of the global revenue share in 2015. The
strong presence of software defined storage solution vendors in the region
is expected to contribute to the industry growth in the region. Asia
Pacific is expected to emerge as the fastest-growing regional market. The
rise of small-scale industries in the developing markets of India and
China is driving the regional growth.
- Small and medium-sized
enterprises accounted for over 30% of the global revenue share in 2015.
The growth of Small and Medium-Sized Business (SMB) units across the
globe, owing to the favorable government initiatives, is substantially
driving the demand for SDS solutions among the small and medium-sized
enterprises.
- The major vendors include
Brain Corporation (U.S.), Hewlett-Packard (U.S.), HRL Laboratories, LLC
(U.S.), Intel Corporation (U.S.), Numenta, Inc. (U.S.), and Vicarious FPC,
Inc. (U.S.). Industry vendors are emphasizing on new product developments
and forming technology alliances to gain a competitive edge in the
industry.
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Software Defined
Storage Market Segmentation
Grand View Research has segmented
the global software defined storage market on the basis of application, company
size, and region:
Software Defined
Storage Application Outlook (Revenue, USD Million, 2014 - 2024)
- BFSI
- Education
- IT Services
- Government
- Manufacturing
- Healthcare
- Others
Software Defined
Storage Company Size Outlook (Revenue, USD Million, 2014 - 2024)
- Small & medium-sized
enterprises
- Large enterprises
Software Defined
Storage Regional Outlook (Revenue, USD Million, 2014 - 2024)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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