Detailed examination of the Global Storage Software Market Growth and Forecast to 2022 | Leading Key Players are HP (U.S.), Oracle Corporation, CA Technologies (U.S.) IBM (U.S.), Hitachi Data Systems, Symantec (U.S.), Huawei Technologies (China), and Dell
Global Storage Software Market OverviewSoftware storage is a marketing term for computer data storage software for rule-based provisioning and data storage management, regardless of the underlying hardware. Software-defined storage typically includes a form of storage virtualization to separate the storage hardware from the software that manages it. Software that enables a software-defined storage environment can also provide policy management for features such as data duplication, replication, dynamic provisioning, snapshots, and backup. Software storage hardware may also include abstraction, grouping, or automation software. When implemented as a software only with primary servers with internal disks, you can suggest software as a virtual or global file system. If it is software superimposed on large, sophisticated storage arrays, it suggests software such as storage virtualization or storage resource management, product categories that solve different problems and separately. If the policy and management functions also include some form of artificial intelligence to automate protection and recovery, this can be considered intelligent abstraction. Software storage can be implemented through devices over a traditional Storage Area Network (SAN) or implemented as Network Attached Storage (NAS) or object storage. In March 2014, the Storage Networking Industry Association (SNIA) released a report on software-defined storage.
Global Storage Software Market Size:
According to Research Cosmos, The Global Storage Software Market was USD XX Million in 2017 and is expected to reach USD XX Million by the year 2022.
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Drivers and Restraints:
Several factors are behind the global demand for storage software. Manufacturing facilities are moving gradually towards automated processes to reduce manual labour, which in turn will reduce opportunities for human work. In addition, the integration of automation into manufacturing has resulted in the use of software for manufacturing, which also involves storage manufacturing data. This return should lead to a strong demand for storage software. The current technological developments in the Internet of Things (IoT) market are indirectly feeding the demand for cloud computing. The emerging trend of remote access to data for monitoring health and physical status is driving the demand for cloud-based public services. In addition, the integration of the sensor in smart consumer electronics helps to collect data such as temperature, location and pressure, which are then stored in servers in the cloud accessible to the consumer. The IoT ecosystem includes all kinds of devices that can be connected to the Internet, such as cars, ATMs, smartphones and portable exercise devices. As the demand for these devices grows, so does the need for cloud storage, which drives the cloud computing market. The growing demand for cloud computing is significantly fueling the demand for storage software. In addition, new companies are reducing their operating costs by buying less expensive space in the cloud than by investing in servers and physical storage. Apart from this, the storage software market is experiencing a limitation in the form of data security problems. Normally, the data is stored on servers in the cloud that can be hacked online. In addition, cloud servers need a constant supply of electricity and internet connectivity to function effectively. As a result, developing regions, such as Africa and South America, continue to struggle with limiting internet speeds and the lack of continuous electricity supply. This restricts the storage software market in these regions. However, ongoing research and development should improve the security of storage software in the future.
Geographical Insights:
Geographically, the global market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. North America and Europe have already started using storage software for a long time. As a result, both regions are expected to dominate the market during the forecast period. However, the growing demand for automation in the developing Asia-Pacific economies is expected to boost demand for storage software in the region. It is also expected that regions in the Middle East and Africa will present a constant demand for storage software in the future.
HP (U.S.), Oracle Corporation (U.S.), CA Technologies (U.S.) IBM (U.S.), Hitachi Data Systems (U.S.), Symantec (U.S.), Huawei Technologies (China), and Dell (U.S.) are the major players in Storage Software Market.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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