Software-Defined Storage Market Worth USD 22.56 Billion by 2021 – Increasing Volume of Data Across Enterprises and Need to Access Them Remotely – Research and Markets
Research and Markets has announced the addition of the ” ( #SDS )Software-Defined Storage Market by Component, Usage, Organization Size, Application Area – Global Forecast to 2021 ” report to their offering. “Software-Defined Storage Market by Component, Usage, Organization Size, Application Area – Global Forecast to 2021” Tweet this The SDS market is estimated 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%. The need for handling exponentially growing data volume across enterprises, rise in the software defined concept, and the need for cost optimization in data management are some of the driving factors for the SDS market. The healthcare vertical has witnessed the highest adoption of SDS solutions and service. The growing use of internet has revolutionized the healthcare industry by connecting patients and doctors through the launch of various apps for connecting to medical facility and keeping track of medical record anywhere and anytime. This is boosting the data storage market, leading to healthcare being the fastest adopting industry of SDS technology. Factors such as the availability of IP network infrastructure and powerful penetration of broadband capabilities are driving the SDS market in the APAC region. The APAC region is growing fast as the SMEs in the region are keen on seeking storage virtualization facilities to reduce their IT spending. Also, technological advancements, increased awareness among masses, and lowered costs are the further reasons for the growing need of SDS software solutions and services in the region.