Software Defined StorageMarket Predicts Rise in Demand by 2025

This report provides an in-depth analysis of the software defined storage market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year

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Key companies covered as a part of this study include Dell Inc., EMC Corporation, Fujitsu Ltd., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Citrix Systems Inc., Netapp, Inc., Seagate Technology, VMware Inc., and Western Digital Corporation.

Software defined storage is a storage architecture for data storage, based on a set of software and hardware components. The major advantages of adopting software defined storage are improved system performance, web facilitation, and reducing maintenance cost. In addition to this, management of increasing data is another major factor leading to high demand for software defined storage. According to Coherent Market Insights, it is estimated that total digital data is expected reach 180 zettabytes by 2025, globally.

Market Dynamics

Healthcare segment is projected to witness the highest CAGR over the forecast period. Rising adoption of wearable devices to track patient’s condition has led to increasing volume of data, as these devices offer data of individual patients. Storage and management of this large volume of data is difficult. Therefore, demand for software defined storage is increasing from the healthcare industry. According to Coherent Market Insights, in 2016, 275 million units of wearable devices have shipped globally. This is owing to increasing demand for data storage and management in the healthcare industry. This in turn is expected to aid in growth of the global market over the forecast period. Moreover, the increasing adoption of internet of things technology in healthcare industry also uplifted the market of software defined storage market in healthcare industry.

Increasing adoption of big data based technology plays a key role for the growth of the market

Rising demand for analyzing big data plays a key role for growth of the software defined storage market. High flexibility and cost saving are some of the major advantages that increased demand for software defined storage solutions. The increasing unstructured data from social media conversations, email, wireless devices, media-rich content and other sources have increased demand for software defined storage solution to better manage big data.

Detail Software Defined Storage Market Segmentation:

Global Software Defined Storage Market, By Component:
◦ Platforms/Solutions
◦ Services

Global Software Defined Storage Market, By Storage Usage:
◦ Surveillance
◦ Data-Backup and Disaster-Recovery
◦ Storage Provisioning and High Availability
◦ Others

Global Software Defined Storage Market, By Organization Size:
◦ Small and Medium Enterprises (SMES)
◦ Large Enterprises

Global Software Defined Storage Market, By Application:
◦ Education
◦ Telecom and ITeS
◦ Logistics and Warehouse
◦ Healthcare
◦ Media and Entertainment
◦ Banking, Financial Services, and Insurance (BFSI)
◦ Others

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.