Technavio estimates global storage virtualization market to reach over $10 billion by 2019

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Storage Virtualization: Key market research findings

  • Increased implementation of software-defined storage (SDS) solutions
  • Rise in demand for virtual storage across organizations

Technavio has released a new market research report on the global storage virtualization market, to its storage portfolio. The global storage virtualization market is expected to grow at a GAGR of 24% between 2015 and 2019 due to a rise in the implementation of software-defined storage (SDS) solutions among enterprises across the world. The US is the largest revenue contributing country to the global storage virtualization market. Many large enterprises in the country including government agencies, cloud service providers (CSPs), and colocation and Web hosting service providers operate their data centers in this region.

The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.

“Of late, the vendors are adopting SDS that separates software services such as data management, data protection, placement of data, and I/O capabilities from the underlying storage infrastructure. This increases the flexibility, scalability, and automation of enterprise storage infrastructure, and minimizes the overall operational expenses. Also, SDS offers enterprises the support for legacy applications, cloud-based services, and big data analytics,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.

The need for centralization of all processes in the network and scaling of computing resources in the network to reduce workloads drives the adoption of virtual storage. The increase in IT spending by enterprises and the growing amount of storage data generated by cloud computing and IoT will emerge as some key factors propelling the demand for virtual storage until 2019.

The leading vendors in the global storage virtualization market include Citrix, HP, IBM, Microsoft, Oracle, and VMware. The market witnesses strong presence of international vendors, who are focusing on offering next-generation storage virtualization concepts. The international vendors are also collaborating with equipment manufactures to enhance the benefits of their virtualization platform.

A more detailed analysis is available in the Technavio report, Global Storage Virtualization Market 2015-2019.

We can customize reports by other regions and specific segments upon request.

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