The global market for Software Defined Storage is majorly driven by factors that includes exponentially growing data volume across enterprises, increasing demand in the “software defined” concept, and need for cost optimization in data management.
Software Defined Storage Market has been valued at US ~$4 billion in the year 2016. Exponentially growing data volume across enterprises need for cost optimization in data management and rise in the “software defined” concept are some of the key factor which is supporting the market of software defined software. It is expected to the market will grow at CAGR of ~27% during the forecast period and expected to reach market size of US ~$18 billion by the end of forecast period. North America is dominating the Software Defined Storage Market whereas Asia Pacific has emerged as fastest growing market.
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Market Research Future Analysis shows that Software Defined Storage market has huge opportunities in the upcoming future. In the study, North America is leading the Software-Defined Storage market due to rise in demand of innovative IT structure, fluctuating traffic patterns in networking infrastructure, acts as a major driving factor for SDS in the region. Whereas, the rise in demand of mobility technologies is also fueling the growth of software defined storage. However, lack of skilled manpower and adaptation of new technology over traditional act as a growth barrier for this market.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on the “Global Software Defined Storage Market Research Report -Forecast to 2022”
The study also implies that APAC is witnessing an increase in the number of IT companies as well as expansion of small and medium businesses which therefore, helps to boost the data storage market, thereby, providing a bigger market for Software Define Storage solutions
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