The global virtualization software market is expected to post a CAGR close to 30% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global virtualization software market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the multiple benefits of SDS. IT teams of organizations have found storage to be among the costliest commodities to manage and maintain. SDS helps organizations to reduce their storage costs significantly. One of the biggest advantages of SDS solutions is that they can work with low-cost commodity hardware and do not require the expensive fiber channel (FC) switches, which are typically used in storage area networks (SAN). SDS solutions also have a high level of flexibility as it enables organizations to choose their own hardware and implement the SDS solution on it. Furthermore, SDS allows to scale up storage infrastructure without impacting the overall performance of the system. The benefits of SDS solutions in terms of scalability, flexibility, and cost savings are enhancing the overall growth of the market.
As per Technavio, the service providers focusing on vCPE solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global virtualization software market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global virtualization software market: Service providers focusing on vCPE solutions
Telecom service providers are finding multiple benefits from vCPE solutions. They can leverage NFVs to deliver vCPE solutions to end-users as it can be deployed on inexpensive commodity hardware at the customers’ premises. This reduces the total number of appliances and the overall cost incurred on the appliances, which are required at the customers’ end. In addition, there are many other benefits of vCPE solutions for telecom service providers. The main benefit of vCPE solutions is that multiple networking functions, such as routing or switching, can be run on a single device. Any updates to the network functions can be pushed through in the form of software upgrades to end-user devices. Furthermore, vCPE solutions are expected to play an even more important role as telecom service providers are preparing to launch 5G network services soon.
“Apart from service providers focusing on vCPE solutions, the benefits of desktop virtualization, the shift to mobile devices as VDI endpoints, and SDS setting up of hybrid cloud are some other major aspects that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Global virtualization software market: Segmentation analysis
This market research report segments the global virtualization software market by product (network function virtualization, desktop virtualization, software-defined storage, server virtualization) and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. The region is expected to register the highest incremental growth due to the increasing investments by telecom service providers in virtualization software.
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Five Forces Analysis
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- Vendors covered
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