The global software-defined data center (SDDC) market is expected to post a CAGR of close to 23% during the period 2019-2023, according to the latest market research report by TechnavioHowever, the growth momentum will decelerate in the coming years because of the decrease in the year-over-year growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190801005344/en/
Technavio has announced its latest market research report titled global software-defined data center (SDDC) market 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global software-defined data center (SDDC) market size is the surge in the adoption of cloud services. The demand for cloud solutions from enterprises has been increasing significantly over the last few years. This is mainly because cloud solutions provide benefits such as a reduction in CAPEX and OPEX, pay-per-use policies, disaster recovery, high computation power, actionable insights using analytics, and access from anywhere. Vendors in the SDDC market are effectively addressing the requirements of cloud services and offering tailored products and services. With the surge in the adoption of cloud solutions, the demand for SDDC solutions will continue to increase during the forecast period.
As per Technavio, the increasing demand for higher bandwidth and low latency will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global software-defined data center (SDDC) market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Software-Defined Data Center (SDDC) Market: Increasing Demand for Higher Bandwidth and Low Latency
Growing investments in 5G services are fueling the IoT market worldwide. The increasing number of IoT enabled devices results in the generation of huge volumes of IoT data, which requires enhanced storage, network, and compute capacities from data centers. This necessitates the installation of data centers that can address the bandwidth and low-latency requirements of end-users. SDDC solutions play an important role in increasing the efficiency of data center components, including storage, compute, and network infrastructure. These factors are expected to positively impact the SDDC market growth during the forecast period.
"Apart from the increasing demand for higher bandwidth and low latency, other factors such as expanded partnerships and M&A activities, along with the growing implementation of IoT will have a significant impact on the growth of the SDDC market size during the forecast period," says a senior analyst at Technavio.
Global Software-defined data center (SDDC) Market: Segmentation Analysis
This market research report segments the global software-defined data center (SDDC) market by component (SDS, SDC, and SDN), and geographic regions (North America, Europe, APAC, South America, and MEA).
The North American region led the software-defined data center (SDDC) market in 2018, followed by Europe, APAC, South America, and MEA respectively. The software-defined data center (SDDC) market analysis report identifies factors such as data center modernization, rise in the adoption of cloud services, and enterprises' willingness to adopt advanced technologies such as AI and MI to fuel market growth in North America.
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20190801005344/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
