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(Wireless-NewsWire.Com, July 16, 2018 ) The report "Capacity Management Market by Component (Solutions, and Services), Organization Size (Large Enterprise, and SMES), Deployment Type (Cloud, and On-Premises), Vertical (IT, Telecom, Healthcare, Manufacturing BFSI), and Region - Global Forecast to 2023", The capacity management market size is expected to grow from USD 597.5 Million to USD 1,557.9 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 21.1% during the forecast period. The increasing complexities of IT resources and high need of achieving business agility in various industry verticals have led to the adoption of capacity management solutions.
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With an increase in the adoption of cloud-based capacity management solutions and services among Small and Medium Enterprises (SMEs), the capacity management market is expected to gain traction during the forecast period.
The storage capacity management subsegment under the solutions segment is expected to hold the largest market size in the capacity management market. Storage capacity management solutions enable enterprises to plan and manage their storage systems.
These solutions also help the enterprises to focus on their core business competencies, empower them by reducing their associated business risks, and monitor and predict their future trends to allocate resources and IT infrastructures.
The Banking, Financial Services, and Insurance (BFSI) industry vertical is expected to be the fastest growing industry vertical in terms of adoption of capacity management solutions and services during the forecast period. The BFSI industry vertical collectively includes organizations that are into banking services, such as core, corporate, retail, investment, and private banking, and cards; financial services, such as payment gateways, stock broking, and mutual funds; and insurance services that cover both life and general insurance policies.
The BFSI industry vertical is expected to generate prospective opportunities for capacity management vendors, as the industry vertical needs effective solutions to manage IT resources for meeting its customers’ ever-changing demands.
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The key players that are engaging in strategies, such as new product launches, business expansions, and partnerships, to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and business expansions in the capacity management market include IBM (US), BMC Software (US), CA Technologies (US), Riverbed Technology (US), Nlyte software (US), Sumerian (Scotland), and Syncsort (US)
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