Software Defined Storage Market Demand Escalating on Growing Popularity In Healthcare Sector
Summary
The software defined storage market was valued at US$ 4.7 billion in 2016 and is projected to reach US$ 47.2 billion by 2025, according to a new market research report Software Defined Storage Market, by Component (Platforms/Solutions and Services), By Storage Usage (Surveillance, Data-Backup and Disaster-Recovery, Storage Provisioning and High Availability, Others), By Organization Size (Small and Medium Enterprises (SMES) and Large Enterprises), By Application (Education, Telecom and Ites, Logistics and Warehouse, Healthcare, Media and Entertainment, Banking, Financial Services, and Insurance (BFSI), Others) and by Geography – Global Forecast to 2025, by Coherent Market Insights. Big data analytics involves examining of unstructured data from social media conversations, emails, wireless devices, rich media, and other sources which helps companies to understand the market trends and customer demand. Large volume of data is generated by financial institutes and this is the major factor for increasing demand for storage solutions for this segment. As the software defined storage solution provides sufficient time to analyst to plan and manage their data according to government regulations. Therefore, in order to manage this data, enterprises are adopting software defined storage solutions and this is expected to be a factor for growth of this regional market.