Global Software-Defined Storage Market: Snapshot
The global software-defined storage market is foreseen to roof a high intensity competitive landscape on account of a number of companies entering the scene due to the interrelation of technologies such as virtualization and cloud computing. Although the level of competition could be on a higher side, it is expected of several companies to lose their grip on the market due to reduced revenues and low operating margins. Nonetheless, such companies are prognosticated to cope with their diluting shares in the market with the constant development of novel software-defined storage technologies having gained a whole lot of demand in the recent time.
A large count of organizations operating in North America are adopting software-defined storage technologies at a telling rate, owing to benefits such as the enhancement of their business efficiency and processes. This is particularly prophesied to augur well for the growth of the global software-defined storage market.
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Vendors could look to tap into the need to automatically retrieve data recovery process and minimize backup problem. Software-defined storage solutions could also be engaged to resolve vendor lock-in issue, especially for procuring hardware from storage suppliers. This helps in facilitating the easy execution and management of storage operations. The IT services industry could bring in some bankable opportunities in the global software-defined storage market because of the escalating need to manage enormous amounts of information. The perpetual availability of data in banks and other financial organizations is envisaged to further the demand in the banking, financial services, and insurance (BFSI) industry.
Global Software-Defined Storage Market: Overview
The international software-defined storage (SDS) market is prognosticated to nurture its growth with the emergence of various application areas such as telecom and information technology enabled services (ITES). The telecom and ITES sectors have always been at the mercy of the need to efficiently manage and store the ever-rising proportion of the data generated on a daily basis. In this regard, the SDS solutions are predicted to see a sharp rise in adoption. Aside from the aforementioned stimulator of the global market, the demand for data management with cost optimization and lionization of ‘software-defined’ as a concept have raised the bar of growth.
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As a scrupulous segmentation of the global SDS market, services and platforms component, organization size, usage, and application could be the prime categories. Our analysts can provide a thorough customizable study of all the vital segments and their forecast values.
This report on the global SDS market can also be tailor-made for other sections in discussion. Any buyer of the report, whether a dominant or aspiring market player, can look forward to a perpetual growth in the industry with key valuations and factors evaluated painstakingly.
Global Software-Defined Storage Market: Trends and Opportunities
A meticulous analysis of the world SDS market could mark support and maintenance and security as the key areas that are expected to stimulate growth at a higher CAGR. Nonetheless, the award for contributing to the global market at a larger rate could be given to training and consulting, considering a few but prime drivers. Security services could achieve a colossal demand with regard to the fact that customers, partners, and business units have been terribly struggling with data security issues. This has aroused the need to shun away improved attacks and lateral moving ultimatums on business data. With SDS security services, all such data threats can be easily alleviated. Besides this, the sharing of data can be executed smoothly and without the fear of any security attacks.
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The SDS controller software market is anticipated to have enough wings to soar at the maximum growth rate between the forecast years. The demand is foreseen to enter into the picture with the multiple usages of the SDS controller software. It can be employed for optimizing a complete datacenter infrastructure, surveilling stored data, abstracting latent compound storage infrastructure, and automating and simplifying storage.
Global Software-Defined Storage Market: Regional Outlook
North America is poised to become of the largest adopters of SDS services on the back of the governments of various countries in the region supporting the idea of complete digitalization. As a result, there have been multiple digitalization projects initiated in most North American countries. Until the end of the forecast period, the region is predicted to continue leading the global SDS market. Growth opportunities for the global market is not only limited to North America, the Asia Pacific region is prophesied to develop at a faster pace than the other regional markets. With the aggressive establishment of IT companies, Asia Pacific is envisaged to witness a high level of technological advancement. The advent of storage virtualization services is helping small and medium enterprises (SMEs) to relax their IT expenditure.
Global Software-Defined Storage Market: Companies Mentioned
The major companies in the international SDS market are not just relying on mergers and acquisitions or related strategies to further their growth, customer education is a key action plan commonly adopted to restrict the challenges. The vendors are envisioned to invest in educating their customers about the realistic significance of employing SDS. This is expected to critically dilute the constraint of the concerns pertaining to the reliability of virtual cloud storage. Various companies are also dealing with the lack of skilled employees to make their presence known in the global market. Players such as IBM, HPE, Fujitsu, EMC Corporation, and Dell have successfully grabbed the much needed attention in the SDS industry.