Christy Publications Software Defined Storage Market | Page 2

which helps companies to understand the market trends and customer demand. The volume of
such large data makes it virtually impossible for the companies to store and retrieve the required
data at any time. Software defined storage have the capability to effectively manage this large
volumes of data. Moreover, increasing demand for unstructured data for market insights also
plays a key role for growth of the market.
Social media is one of the major platforms, which provides unstructured data. Facebook,
Twitter, Google+, Pinterest, Instagram, LinkedIn, YouTube etc. are some of the popular social
media channels. For example: According to Coherent Market Insights, it is estimated that in
every 60 seconds, near about 27,000 videos are streamed on YouTube, around 3 million posts
are shared on Facebook, around 430,000 tweets are posted on Twitter, and around 120 new
users get registered on LinkedIn. Moreover, the security concern in cloud storage become one
of the major challenge which hinders the market.
Key Takeaways of the Software Defined Storage Market:
The global software defined storage market was valued at US$ 4.7 billion in 2016 and is
projected to reach US$ 47.2 billion by 2025, exhibiting a CAGR of 5.9% over the forecast period.
Owing to increasing data generation from various verticals.
Among application, banking, financial services and insurance segment held a dominant position
in 2016 and is projected to retain its dominance throughout the forecast period. 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.
North America software defined storage market held the dominant position in 2016 and is
projected to retain its dominance throughout the forecast period. North America accounted for
around 55% share in the global big data market in 2016 according to Coherent Market Insights.
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.
To know the latest trends and insights prevalent read @
https://www.coherentmarketinsights.com/market-insight/software-defined-storage-market-1215
Key players in the market are focusing on new product launches, in order to increase their
market share. For example: in 2017, Dell EMC, a U.S.-based computer data storage company,