Software-Defined Data Center Market Worth $96.5 Billion by 2023 - Exclusive Report by MarketsandMarkets

CHICAGO, March 22, 2019 /PRNewswire/ -- According to a new market research report "Software-Defined Data Center Market by Component (Hardware, Software, and Service), Type (Software-Defined Compute, Software-Defined Storage, and Software-Defined Data Center Networking), Organization Size, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets, the global Software-Defined Data Center Market size is expected to grow from USD 33.5 billion in 2018 to USD 96.5 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 23.6% during the forecast period.

SDDC enables policy-based infrastructure provisioning, wherein virtualized compute, storage, and networking resources are logically pooled and managed as software. The ever-increasing operational cost overheads and complexities in the traditional data center environment have facilitated the adoption of SDDC, which is expected to aid companies in cutting down their operational and capital expenditure.

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Services segment to grow at the highest CAGR during the forecast period

The market of SDDC solutions is growing, thereby driving the growth of the services associated with them. SDDC services are crucial for an organization. Broad expertise and deep knowledge of the service providers cater to specific challenges of end users and help reduce risks and complexities. Additionally, these services assist managers to meet their ultimate objective of improved operability, and energy and resource utilization. The growing complexities of installation and the deployment of SDDC are expected to increase the demand for SDDC services.

Software-defined data center networking segment to fuel the Software-Defined Data Center Market during the forecast period

Software-Defined Data Center Networking (SDN) offers a cost-effective alternative with greater control when compared to traditional networking. This, in turn, enables centralized control to the network traffic without configuring the settings of individual switches. SDN facilitates the provision of dynamic, cost-effective, manageable, and adaptable solutions, making it an ideal solution for dynamic applications utilizing high-bandwidth. SDN aids end users in managing the high degree of change necessary on the network to support virtual workloads, reduce the complexity of the network in the data center, and enable automation and orchestration of network configurations.