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Software Defined Data Center Global Market Report 2024 To 2033 | VMware Inc., Microsoft Corporation, Hewlett Packard Enterprise Company, Dell Technologies Inc
Software Defined Data Center Market Forecast
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According to The Business Research Company's, The software defined data center market size has grown exponentially in recent years. It will grow from $63.66 billion in 2023 to $77.42 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth in the historic period can be attributed to industry standards and vendor offerings, scalability and elasticity, demand for streamlined operations, software-centric approach, cost efficiency and resource optimization..
The software defined data center market size is expected to see exponential growth in the next few years. It will grow to $178.31 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%. The growth in the forecast period can be attributed to vendor innovation and offerings, edge computing and iot growth, demand for automation and orchestration, cloud adoption and hybrid it environments, continued emphasis on digital transformation.. Major trends in the forecast period include open source and standardization, sustainability and green it initiatives, data center modernization and efficiency, composable infrastructure development, zero trust security models, software-defined networking (sdn) advancements..
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Market Drivers and Trends:
The growing adoption of digitalization is expected to be a significant driver for the growth of the software defined data center market. The adoption of digitalization is increasing due to the need for increased productivity, lowering operational costs, enabling faster decision-making, increasing efficiency, technological advancements, push towards digitalization from stakeholders, and others. The increasing adoption of digitalization will generate a huge amount of data that needs to be stored, driving the need for software defined data centers. This need for data centers will create a huge demand for data center services to set up, manage, and operate data centers. For instance, according to a survey conducted among 1,200 CXOs and decision-makers in 9 countries by Fujitsu and published in August 2021, during the pandemic, 82% of respondents from offline organizations had accelerated the digital transformation into their business. During the pandemic, digital became the default mode of living and working, making the organizations adapt to digitalization by creating remote work environments and digitalizing customer services. Therefore, the growing adoption of digitalization will drive the software defined data center market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
VMware Inc., Microsoft Corporation, Hewlett Packard Enterprise Company, Dell Technologies Inc., Oracle Corporation, Cisco Systems Inc., Citrix Systems Inc., International Business Machines Corporation, SAP SE, Hitachi Ltd., Fujitsu Ltd., NEC Corporation, Juniper Networks Inc., Western Digital Corporation, Nutanix, Red Hat Inc., Huawei Technologies Co. Ltd., Lenovo Group Limited, NetApp Inc., Pure Storage Inc., Tintri Inc., DataCore Software, Scale Computing, Pivot, StratoScale, Coho Data Inc., Maxta Inc., Hedvig Inc., Diamanti Inc., Robin Systems Inc.
Software Defined Data Center Market 2024 Key Insights:
• The software defined data center market size is expected to see exponential growth in the next few years. It will grow to $178.31 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%.
• Increased Adoption Of Digitalization
• Utilization Of Hyper-Scale Cloud
• North America was the largest region in the software defined data center market in 2023
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