Storage software

Storage Software Market Analysis, Future to Grow with Moderate CAGR from 2021 to 2029

New York, USA, Thursday, March 17, 2022 07:50:30 AM / Comserve Inc. / — Rising volume of unstructured data and growing awareness among organizations of storage virtualization to drive market growth.

Research Nester has published a report titled “Storage Software Market: Global Demand Analysis & Opportunity Outlook 2029” which provides an in-depth overview of the global storage software market in terms of market segmentation by software type, end-user, and region.

Additionally, for the in-depth analysis, the report encompasses industry growth indicators, restraints, supply and demand risks, along with a detailed discussion of current and future market trends associated with the market growth.

The storage software market is expected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 owing to the growing volume of unstructured data and growing awareness among organizations for the storage virtualization. It is estimated that more than 72% of global enterprises will move to cloud storage from on-premises data centers by 2022.

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The market is segmented by software type into storage replication, archiving, software-defined storage and others. Among these segments, software-defined storage segment is expected to hold the largest share by the end of 2021 in the storage software market owing to its multi-use capability and ability to store data regardless of the hardware platform. It is also gaining recognition around the world as it provides better flexibility, efficiency, and faster scalability to utilize storage resources. On the basis of end user, the market is segmented into BFSI, Government, Telecom & IT and Others.

On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa, from which the Asia-Pacific storage software market is expected to grow at the highest CAGR through the forecast period. Currently, the market in North America holds the largest share. This can be attributed to the growing demands for corporate data center connectivity networks, complemented by the presence of leading institutions in the region.

Growing volume of unstructured data and increasing awareness among organizations about storage virtualization to drive market growth

According to a study on the future adaptability of software storage, data virtualization can significantly reduce business costs and increase overall performance to effectively cope with change.

The burgeoning volume of data in various enterprises increases the demand for scalable, reliable and secure storage architecture. Additionally, the spread of Internet of Things (IoT) across the globe which has greatly increased the data generated at the edge is also expected to drive the market growth in the coming years. However, rising concerns over data privacy and governance and shortage of skilled operators to handle the transition to storage software technology are some of the factors that are expected to restrain the market growth in the near future.

This report also provides the existing competitive scenario of some of the major players in the Global Storage Software Market which includes company profiling of Red Hat, EMC, IBM IBMNet App NTAPHuawei Technologies, Hewlett-Packard HPEHitachi Data Systems, Fujitsu Limited (TYO), Citrix Systems, Inc. CTXand others.

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Profiling contains key business information that encompasses an overview of businesses, products and services, key financial data, and recent news and developments. Overall, the report portrays a detailed overview of the Global Storage Software Market which will help industry consultants, equipment manufacturers, existing players looking for expansion opportunities, new players to opportunity-seeking and other stakeholders to align their market-centric strategies with current and expected developments. trends in the future.

About Research Nester:

Research Nester is a leading one-stop service provider of strategic market research and consulting with an unbiased and unparalleled approach to helping global industry players, conglomerates and executives make sound investment and expansion decisions. future by providing them with qualitative market information and strategies. while avoiding future uncertainties. We believe in honesty and hard work which we believe is reflected in our work ethic. Our vision is not only to earn the trust of our customers but also to be respected by our employees and appreciated by our competitors.

For more information please contact:

AJ Daniel

Research Nester
Email: [email protected]
Tel: +1-6465869123

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