32% CAGR to 2020 Reaching $7 billion for Software-Defined Storage Market – ReportsnReports.com

The global software-defined storage (SDS) market 2016-2020 report says rise of OpenStack will be a key trend for market growth as OpenStack open source cloud computing platforms, deployed in the form of Infrastructure as a Service (IaaS), help organizations manage their storage workloads in data centers.

These are designed to control a large pool of storage, compute, and networking resources in data centers through OpenStack APIs. Networking resources are managed through a dashboard that gives administrators control while empowering their users to provision resources through a web interface.

Complete report on SDS market by ReportsnReports.com spread across 74 pages, analyzing 4 major companies and providing 25 data exhibits is available at $2,500.

Global SDS market to surpass $7 billion by 2020.

The growth of this market is spurred by the effective management of unstructured data. Analytics solutions, when integrated with SDS solution for big data management, reduce costs and boost business agility. The integration of big data with network file systems and rapid provisioning of analytics applications streamlines the management of unstructured data for business intelligence.

During 2015, the Americas accounted for around 55% of the overall market share to dominate the global SDS market. The rising demand for innovative IT architecture, fluctuating traffic patterns in networking infrastructure, and the rise of mobility technologies will fuel the growth of the SDS market in the Americas during the forecast period.

The analyst forecast global SDS market to grow at a CAGR of 31.62% during the period 2016-2020. According to the report, one of the key drivers for market growth will be cost reduction and efficiency.

Software-defined technology is poised to disrupt the traditional enterprise IT infrastructure model. Companies are under immense pressure to replace legacy IT infrastructure with innovative models that can cut costs. SDS provides a lean business model and minimizes costs by automating process controls and replacing traditional hardware with software.

Banking, financial services and insurance (BFSI) segment accounted for around 18% of the overall market revenue to become the key revenue generating vertical in the software defined storage market globally. The use of SDS in a BFSI environment gives analysts sufficient time to plan and manage their data to comply with evolving government regulations. SDS also provides storage enhancement through new application offerings. It enables efficient storage allocation through well-defined governing policies and eases the process of access provision through well-defined security policies.

The following companies are the key players in the SDS market: EMC, HP, IBM, and VMware.

Other prominent vendors in the market are 6Wind, Arista Networks, Avaya, Big Switch Networks, Brocade, Cisco, Citrix, DataCore, Dell, Ericsson, Fujitsu, HDS, Juniper Networks, NEC, NetApp, Nexenta, Nutanix, Pertino, Pivot3, Plexxi and SwiftStack.