Moving steadily upwards is the growth chart of global software defined storage market. And, it will not be wrong to attribute this growth to high adoption level of technology, particularly the ones interlinked – such as virtualization and cloud computing.
It is worth noting here that while the global software defined storage market is set to chart a steady CAGR (Compound Annual Growth Rate) over the coming decade, it will also see rise in competition and reduced revenues. However, the opportunities that will be generated credit a solid CAGR, will keep the market players hooked. Besides, the dilution of market grasp will be compensated for by advancement in technology.
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So, it also goes without saying that this mean market worth would grow substantially. And, because vendors are experiencing demand for automatic data recovery need to back-up the data seamlessly, the market would grow further. Also, it is important to note here that as market evolves in terms of addressing the lock-in issues, software defined data storage will see a steeper slope of an upward curve as this will lead to easy execution and management of operations related to storage.
Also, as data security issues rise, worldwide, across industry verticals, the need for software-defined storage market will grow. To add to this, there are more and more businesses going digital, which require high quality security because attacks are improving at an impressive pace and so are threat ultimatums to critical business data. Because, software defined storage helps address the issue in a significant way, it is set to mark the growth curve in a positive manner.
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Constant training and consulting that is marking the market landscape as of now is also helping drive the global software defined storage market.
It is also important to note here that the market is fragmented and major players include IBM, HPE, Fujitsu, EMC Corporation, and Dell