ID: MRFR/ICT/1768-CR | July 2019 | Region: Global | 110 pages
Global Software Defined Everything (SDx) Market is predicted to touch USD 253.60 Billion at a stellar 31.62% CAGR between 2018- 2024, reveals the Market Research Future’s (MRFR) software defined everything market forecast report. The strong software defined everything market growth is due to the growing awareness about SDx technology among organizations.
Luckily, the software defined everything industry has escaped the brunt of the ongoing COVID-19 outbreak. The key driver behind the positive growth of the market is the increasing use of big data. This crisis has brought together data scientists, doctors, and researchers to discover solutions. Researchers are making the most of technologies like machine learning and big data during the present pandemic. Owing to the increase in coronavirus cases across the globe, analyzing the records of every patient as well as offering a solution to prevent its spread is indeed problematic. It is here where big data comes as a savior. It helps to analyze datasets and identify patterns that can help to detect COVID-19.
The COVID-19 outbreak within a brief time span has affected markets and the behavior of customers and, at the same time, has also made a big impact on societies and economies. Following the shutdown of manufacturing facilities, educational institutions, and offices, businesses are on the lookout for technologies that can help them survive in these tough times. The usage of the internet too has been impacted. The utmost use of a VPN for teleconferencing and the trend of work from home has led to a massive surge in the use of the internet across the world. This situation has compelled IT infrastructure providers to use SDN. The amount of data that are generated through online surfing including video games and streaming of videos, needs cloud services and data centers. All these are likely to have a positive impact on the software defined everything market size.
Need to Curtail IT Spending to Bolster Market Growth
The growing need to curtail IT spending as per changing business environments is likely to boost the software defined everything market demand over the forecast period.
Additional factors adding to the software defined everything market share include low maintenance cost, developing IoT and cloud computing market, cost optimization to manage hardware, the advent of software defined concept, growing adoption of cloud services among enterprises, rising adoption of software defined technologies like SDDC, SDN, SDI, SDS in telecom industries and information technology enabled services (ITES), growing awareness among organizations about software defined everything technologies, and increasing adoption by large-scale infrastructure users like enterprises, telecommunication operators, and cloud service providers.
Migration to Cloud Services to Offer Robust Opportunities
The migration to cloud services from traditional data centers may offer robust opportunities to market players in the upcoming days.
Security Issues to Act as a Market Restraint
Privacy and security issues may impede the software defined everything market revenues over the forecast period.
Dearth in Technical Skills to Act as a Market Challenge
The dearth of technical skills may act as a major challenge for market players in the upcoming days. SDE is a process that is completely technology-driven thus needs high intelligence of personal staff in order to sustain and grow. Besides, the implementation of SDDC, SDS, and SDN also need IT professionals that are highly skilled. Further, the lack of cooling & enhanced power infrastructure to support the critical and powerful equipment, and lack of industry standards may also deter the market growth over the forecast period.
The global software defined everything market has seen segmented based on vertical, deployment, service, and technology.
SDN Segment to Lead Software Defined Everything Market
By technology, the global software defined everything market is segmented into software defined data center (SDDC), software defined storage (SDS), and software defined networking (SDN). Of these, the SDN segment will lead the market over the forecast period.
By service, the global software defined everything market is segmented into consulting services, managed services, and deployment services.
By deployment, the global software defined everything market is segmented into cloud and on-premise.
IT and Telecommunications Segment to Dominate Software Defined Everything Market
By vertical, the global software defined everything market is segmented into healthcare, manufacturing, retail, IT and telecommunication, BFSI, and others. Of these, the IT and telecommunications segment is predicted to dominate the software defined everything market over the forecast period.
North America to Dominate Software Defined Everything Market
Geographically, the global software defined everything market is segmented into North America, Europe, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Increasing developments in technology, presence of developed countries Canada and the US, early adoption of SDE technology in the US, presence of established vendors in Canada and the US, and rapid adoption of innovative technologies and infrastructure assisting organizations virtualize their IT infrastructure & facilitate advanced network management are adding to the global software defined everything market growth in the region.
Europe to Hold Second-Largest Share in Software Defined Everything Market
In Europe, the global software defined everything market is predicted to hold the second-largest share over the forecast period. Booming telecommunication and IT industry in Italy, Germany, and the UK is adding to the global software defined everything market growth in the region.
APAC to Grow at Fastest Pace
In the APAC region, the software defined everything market is predicted to grow at the fastest pace over the forecast period. Rising data center traffic, growing adoption of new technologies, increasing awareness about software defined infrastructure in India, Japan, and China, increasing adoption of software defined everything technology among end users, increase in number of startups for steady economic growth, increase in business related demand, rapid spread of smartphones and the internet, and increasing use by enterprises to replace hardware that is outdated with software and cut down the price by mechanizing process control are adding to the global software-defined everything market growth in the region.
Global Software Defined Everything Market is highly fragmented and competitive in nature with the presence of many key players. These key players have encompassed strategies like mergers and acquisitions, partnerships, product launches, and strategic alliances to remain ahead and also cater to the consumer’s burgeoning needs.
Software Defined Everything Market Key Players
Prominent players profiled in the software defined everything market report include NEC Corporation, Fujitsu Ltd, Western Digital Corp, Citrix Systems, Inc., IBM Corporation, Cisco Systems, Inc., Infoblox Inc., Pivot3, Metaswitch Networks Ltd, Silver Peak, Riverbed Technology Inc., Nexenta Systems Inc., Extreme Network, VMware Inc., Hewlett Packard Enterprise Co, and Dell Technologies, among others.
The global software defined everything market report by Market Research Future throws light on the current trends and niches in the industry. The report also lays emphasis on the various market drivers, opportunities, market restraints, and challenges, as well as offers insights for the forecast period. It also throws light on the different market segments for a comprehensive understanding of the reader.
Frequently Asked Questions (FAQ) :
Between 2018 and 2023, market is projected to attain a growth rate of 31.62%.
Software Defined Everything refers to a term that involves the shift of technology in a more controlled manner to access the storage, networks, as well as data centers.
Software defined everything can gain huge traction in the forthcoming years, given the rapid expansion of industries like IT and telecommunication, healthcare, BFSI, manufacturing, retail, and others. Also, rising adoption of cloud computing also benefits the worldwide market.
Security issues coupled with shortage of technical skills are dissuading the market growth.
Managed services, consulting services and integration and deployment services are the service-wise market segments.
The APAC is the third most lucrative market, as the region has noted a hike in the telecommunication sector, along with an explosion of technological advancements among others.
Prominent vendors are constantly innovating and making huge investments in research and development to offer a broad of cost-effective products. Over the years, the market has witnessed a number of mergers and acquisitions between these players, which helps them uplift their position in the market.