The Market Insights Reports has added a new statistical data to its repository titled as, Global Software-Defined Storage Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The Software-Defined Storage Software market was valued at USD 9.4 billion in 2019 and is expected to reach USD 37.24 billion by 2025, at a CAGR of 25.8% over the forecast period 2020 – 2025.
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Top Key Players in the Global Software-Defined Storage Market are IBM Corporation, Oracle Corporation, NetApp Inc., Huawei Technologies Co. Ltd, Fujitsu Limited, Genetec Inc., VMWare Inc. (Dell Inc.), Hitachi Data Systems AG, Pure Storage Inc., Promise Technology. Inc., FalconStor Software, Inc., StarWind Software Inc., and others.
Industry News and Update:
– May 2019 – SuSe Inc. introduced SUSE Enterprise Storage 6, the latest release of its software-defined storage solution. The company claims that it enables IT organizations to seamlessly adapt to changing business demands while reducing IT operational expense with new features focused on containerized, cloud workload support, improved integration with public cloud and enhanced data protection capabilities.
– Apr 2018 – Red Hat Inc., provider of open source solutions, announced plans to provide the convenience of hardware-optimized systems to its customers, while preserving the flexibility and scale of software-defined storage, through Red Hat Storage One.
Key Market Trends:
BFSI Sector to Witness Significant Growth
– Financial organizations require highly secure and highly available storage capabilities to scale up and out, with appliances that link together across sites. The software-defined storage solutions help in improving BFSI operations, including handling massive data sets, limited accesses to files with encryption, and even data backup and recovery.
– In 2017, Bank of America spent USD 300 million, as it switched to software-defined infrastructure while getting rid of three data centers. As part of a project called Project Greenfield, the American bank moved 20,000 workloads onto its software-defined infrastructure, to bring down costs per workload. With the number of such used cases on the rise, the market is expected to grow at a significant rate over the forecast period.
– With the increase in the digital economy, data is everything. software-defined infrastructure and storage solutions are enabling global banks to access, analyze, and share data on-premises rapidly and in the cloud from front-to-back office operations. PayPal has declared that there has been a growth of over 46% in the annual payment volume in the year 2018 from the previous year reaching USD 227 billion.
– It is also stated in the world payment report 2018 that, non-cash transactions has reached 482.6 billion in 2016, which is 9.8% growth since 2012 and is expected to follow the growing trend in the forecast period. Moreover, with data centers expected to reduce costs significantly, as directed by the US federal government, the adoption of the SDS is expected to increase even further.
Full Browse the report description and TOC:
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Global Software-Defined Storage market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Software-Defined Storage market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Software-Defined Storage market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Software-Defined Storage market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Software-Defined Storage report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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