Software Defined Storage Market Key influencing factors responsible for the expeditious growth

Due to the competitive environment, companies have shifted their focus toward new technology to have a competitive edge. The usage of SDS helps to minimize the cost by automating process controls and replacing the traditional hardware with software. The need to improve the efficiency and business processing data centers drives the demand for SDS solutions in small & medium-sized enterprises.

Other attributes, such as increase in cost saving, flexibility, IT cost reduction, automation needs, & the value of instructed data, are also some factors that drive the adoption of SDS. However, lack of skilled resources to handle the effective SDS environment hampers the growth of the market.

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Impact of COVID-19 on Software Defined Storage Market

• The outbreak of COVID-19 and its development into a pandemic have led governments across the world to take extraordinary measures to protect their residents. Corporates are also required to implement unusual measures to safeguard their employees and extended workforce. In this regard, the collection of personal data by corporates will be undertaken in compliance with the requirements of data protection laws.

• Massive generation of data in the past few years is expected to drive the growth of the SDS market. The COVID-19 outbreak has led to the growing investments in cloud-based infrastructure, which will generate the need for the adoption of SDS. Moreover, rise in the adoption of virtualization technologies by small & medium-sized enterprises due to the coronavirus outbreak will impact positively on the market.

The adoption of hyper-converged technology is increasing significantly as it helps enterprises to avoid dependency on multiple storage, compute, and networking systems as these systems can be run in a virtualized environment to enhance resource utilization. Furthermore, it reduces power consumption and optimizes space that lead to increased speed and efficiency of data centers. Thus, the rise of hyper-converged technology is expected to be one of the key trends that will fuel the growth of the software defined storage market during the forecast period.

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Software Defined Storage (SDS) is a computer program that manages data storage resources & functionality and has no dependency on the underlying physical storage hardware. Unlike traditional Network Attached Storage (NAS) or Storage Area Network (SAN) systems, SDS is generally designed to perform on any industry-standard or x86 system that removes the software's dependence on proprietary hardware. Factors that contribute to the increase in SDS products include exponential growth of unstructured data to create a greater need for a scale-out storage architecture.
Furthermore, rise in cloud infrastructure adoption and numerous benefits provided by it, such as cost effectiveness, better flexibility, automation, and booming value of unstructured, are expected to drive the growth of the SDS market.

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Key benefits of the report:

• The report provides a detailed overview of the industry including qualitative and quantitative information.

• It provides an overview and forecast of the global software defined storage market based on component, application, and industry vertical.

• It also provides market size and forecast till 2027 for the overall software defined storage market with respect to five major regions, North America, Europe, Asia-Pacific (APAC), and LAMEA.

• The report analyzes factors affecting the market from demand & supply side and further evaluates market dynamics that affect the market during the forecast period such as drivers, restraints, opportunities, and future trend.

• The report also focuses on leading industry players with information such as company profiles, products & services offered, financial information for the last few years, and the key development in the past five years.

• The report gives a review of the software defined storage market including characterization, application, fabricating innovation, industry chain investigation, and most recent market progression.

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