Rapid growth of industrialization has led to the development of thousands of industries across various verticals. Every organization works with two main components, namely data and storage. Everyday, a massive amount of data is created and processed and the processed data called information is allocated a storage space. As the organization grows, more and more amounts of data is created, which needs to be stored and storing such an enormous amount of data in physical drives requires huge investment. Therefore, in order to lower this investment and avoid the complex and time consuming task of storage and data management, companies are rapidly adopting the concept of storage virtualization where multiple physical storages are grouped from multiple network storage devices, which looks like a single storage device to the user.
Storage virtualization options are available with flexible licensing and multiple hybrid models. This technology can be used by all sizes of enterprises. Usage of storage virtualization in smart devices and software defined storage are prominent trends observed in the market.
Storage Virtualization Market: Drivers and Restraints
Enhanced storage management in a heterogeneous IT environment, high storage availability and improved storage utilization are the factors driving growth of the storage virtualization market. Also, automated management, efficient use of time and ease in storage expansion are expected to further fuel the growth of the market.
Complications in network systems and the threat of server sprawl hinder the adoption of storage virtualization in the market. Also, if one server or system fails, then all servers will fail, which can create complications within an organization. Such factors hamper the growth of the storage virtualization market.
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Storage Virtualization Market: Segmentation
Segmentation of the storage virtualization market on the basis of component:
- Storage Devices
- Block aggregation layer
- File/record layer
- Application layer
Segmentation of the storage virtualization market on the basis of end-user:
- IT and Telecommunication
Segmentation of the storage virtualization market on the basis of deployment:
- Public Cloud
- Private Cloud
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Storage Virtualization Market: Competitive Landscape
Some of the key players in the market include Citrix Systems, Inc., HP, IBM Corporation, Microsoft Corporation, Oracle Corporation, Vmware, Inc., BlueArc Corporation, EMC Corporation, Coraid and Hitachi Data System.
Storage Virtualization Market: Regional Overview
North America is expected to be the largest market for storage virtualization. Majority of storage virtualization vendors such as Citrix Systems, Inc., HP and IBM Corporation are based in North America. This can be attributed to the increasing adoption of advanced technologies by companies in the region. The markets in Europe and SEA and other APAC regions are also anticipated to witness growth over the forecast period.