Press release
Software-defined Storage Market Takes Cue from Cloud-based Infrastructure Growth and Introduction of Hyper-scale Data
The advent of hyper-scale data in the recent time is prognosticated to bode significantly well for the development of the global software-defined storage market. Enterprises could witness a telling decrease in IT infrastructure cost as software-defined storage improves the performance of storage environments. February 2017 saw the acquisition of hyper-converged storage and server systems vendor SimpliVity Corp. by HPE for US$650.0 mn cash. HPE’s new offerings such as Synergy are anticipated to testify the integration of SimpliVity for composing and recomposing highly scalable software-defined storage for applications at enterprise level and scale.
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Prominent market intelligence company Transparency Market Research (TMR) prophesies the global software-defined storage market to be worth US$48.18 bn by 2025, progressing from US$4.86 bn in 2016 at a staggering 29.2% CAGR between 2017 and 2025.
Which End Users Assure Strong Demand?
The world software-defined storage market is predicted to have attracted several end-use industries such as e-commerce, logistics and warehouses, high tech, healthcare, media and entertainment, education, manufacturing, telecom, and banking, financial services, and insurance (BFSI). However, BFSI could take a leading position in the world software-defined storage market as it looks to cash in on the pressing requirement of foolproof data backup plans and continue dominating until the next few years. Researchers envisage the BFSI market to expand at a colossal 29.4% CAGR during the said forecast period.
Nevertheless, rising expenditure dedicated for its advancement is prognosticated to help the healthcare market grow at a faster rate.
Which Regional Markets Exhibit Best Shares?
Higher acceptance of software-defined storage in the U.S. is envisioned to propel the growth of North America in the international market. Furthermore, solid presence of top vendors could fortify the demand in the North America software-defined storage market. Until the end of the aforementioned forecast period, North America could sustain its dominance in the international software-defined storage market.
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Holding a considerable share in the international software-defined storage market in 2016, Asia Pacific is foretold to up its worth in the coming years. The expansion of the Asia Pacific software-defined storage market is assessed to be facilitated by the adoption of virtualization technologies. Latin America could also showcase a decent share with countries such as Brazil shining out in the regional market.
Besides HPE, International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, VMWare, Inc., and Dell, Inc. could make significant contributions to the worldwide software-defined storage market.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
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