(Wireless-NewsWire.Com, August 31, 2020 ) According to research report "Software Defined Storage Market by Component [Platforms/Solutions (Software-Defined Server, Data Security & Compliance, Controller, Data Management, and Hypervisor), Services], Usage, Organization Size, Application Area - Global Forecast to 2021", published by MarketsandMarkets, global SDS market is expected to grow from USD 4.72 Billion in 2016 to USD 22.56 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 36.7%.
• 101 market data Tables
• 58 Figures
• 167 Pages
Data security and compliance software expected to be the largest contributor in the global Market during the forecast period
Organizations have to mandatory follow the compliance policies and guidelines for storing and sharing data while securing business-critical information. Also, there is a need to take actions for storing and sharing data while securing the business-critical information. The requirement of security and compliance function in the existing SDS solution while storing the data has increased the demand for this software and expected to contribute the highest in the overall revenue generation for the SDS market during the forecast period.
The support and maintenance segment expected to show significant growth rate during the forecast period
The demand for services is significantly increasing along with the growth of the Software Defined Storage Market. Software and maintenance services help organizations to get the maximum benefits from their SDS software investment. The customers can get better help and maintenance for their SDS solution with various levels of support programs. The market for support and maintenance will keep growing owing to the need for consistent support required for deploying and using the SDS solution.
With increasing number of IT industries and growth of Small and Medium Businesses (SMBs) in the countries of Asia-Pacific (APAC), the region expected to see the highest growth rate during the forecast period
Many countries in APAC are seeing increase in the number of IT companies and expansion of small and medium businesses. This will boost the data storage market, thus supplying a bigger Software Defined Storage Market solution. With the popularity of SDS solution benefits, the SMBs will be adopting the SDS technology at a faster pace. The solution helps these organizations in reducing their storage cost and achieving better business function.
Dell (Texas, U.S.), EMC Corporation (Massachusetts, U.S.), Fujitsu (Tokyo, Japan), HPE (California, U.S.), IBM (New York, U.S.), Citrix (Florida, U.S.), NetApp (California, U.S.), Scality (California, U.S.), VMware (California, U.S.), and Western Digital Corporation (California, U.S.) are identified as leaders in the SDS market.
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Mr. Aashish Mehra