Global Software-Defined Storage Market 2020-2024| Surge in Cloud Adoption to Boost Market Growth | Technavio
03 Julio 2020 - 6:00PM
Business Wire
The global software-defined storage market size is expected to
grow by USD 42.79 billion during 2020-2024. The report also
provides the market impact and new opportunities created due to the
COVID-19 pandemic. The impact can be expected to be significant in
the first quarter but gradually lessen in subsequent quarters –
with a limited impact on the full-year economic growth, according
to the latest market research report by Technavio. Request a free
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Technavio has announced its latest market
research report titled Global Software-Defined Storage Market
2020-2024 (Graphic: Business Wire)
The adoption of cloud solutions has increased significantly,
owing to their benefits including a reduction in costs, enhanced
scalability, and higher efficiency. This increases the demand for
software-defined storage as it simplifies storage management, and
addresses data management challenges in cloud computing. Thus, the
increasing adoption of cloud solutions will fuel the growth of the
software-defined storage market during the forecast period.
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market research, download a free sample:
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As per Technavio, the rise of hyper-converged technology will
have a positive impact on the market and contribute to its growth
significantly over the forecast period. This research report also
analyzes other significant trends and market drivers that will
influence market growth over 2020-2024.
Software-Defined Storage Market: Rise of Hyper-Converged
Technology
The adoption of hyper-converged technology is increasing
significantly as it helps enterprises avoid dependency on multiple
storage, compute, and networking systems as all three systems can
be run in a virtualized environment to enhance resource
utilization. Furthermore, it reduces power consumption and
optimizes space, resulting in increased speed, and efficiency of
data centers. Software-defined storage is available via multiple
options, such as hyper-converged infrastructure software,
hypervisor, scale-out storage, containers, and distributed file
systems. Thus, the rise of hyper-converged technology is expected
to be one of the key trends that will fuel the growth of the
software-defined storage market during the forecast period.
“Factors such as the growing number of collaborations and
acquisitions, and the rise in digital transformation will have a
significant impact on the growth of the software-defined storage
market value during the forecast period,” says a senior analyst at
Technavio.
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Software-Defined Storage
Market: Segmentation Analysis
This market research report segments the software-defined
storage market by end-user (BFSI, telecom and IT, government,
healthcare, and others) and geography (North America, APAC, Europe,
South America, and MEA).
The North American region led the software-defined storage
market in 2019, followed by APAC, Europe, South America, and MEA
respectively. During the forecast period, the North American region
is expected to register the highest incremental growth due to
factors such as the increasing demand for data center connectivity
network from enterprises, the imminent launch of 5G, and the
adoption of advanced technologies.
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forecast, drivers, challenges, trends, and more. Request a free
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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changing market scenarios.
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version on businesswire.com: https://www.businesswire.com/news/home/20200703005216/en/
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