Global Software-Defined Storage Market - Segmented by Type (Block, File, Object), Service (Deployment and Testing, Security, Support and Maintenance) and Region - Growth, Trends, and Forecast (2022 - 2030)
The global software-defined storage market was valued at USD 5.27 billion in 2017 and is expected to reach USD 21.07 billion by 2023, recording a CAGR of 25.8%, during the forecast period of 2018-2023. The scope of the report is limited to the applications of software-defined storage across various industries. The regions considered under the scope of the report include - North America, Europe, and others. Growth opportunities for software-defined storage in the enterprise storage market also fall under the scope of this report.
Software-defined Storage (SDS) is one of the new technologies trending in the enterprise storage market. As employing SDS enables cost savings, whilst improving performance and increasing flexibility, enterprises are slowly shifting toward software-defined storage. In addition, SDS has the ability to separate storage software from hardware, thus cutting down on storage costs, in terms of capital cost and operation expenditure. Storage hardware vendors, such as IBM, Dell, and NetApp, among others, also offer software-defined storage. Associations (like the Storage Network Industry Association (SNIA), which sets standards for the enterprise storage industry) shape the way in which SDS is employed across end-user industries.
The booming volume of unstructured data across various enterprises, for both big and small calls (including IT, telecommunication, etc.) augments the demand for a scalable storage architecture that is reliable and secure. The SDS model addresses this need, by increasing deployment flexibility and enabling organizations to use the software with any storage platform, through a single software interface. Enterprises or IT organizations undergoing digital transformation are likely to adopt SDS for their data storage needs, owing to the advantages that this technology offers, over the traditional storage methods. However, the lack of skilled operators to manage the transition toward SDS and security concerns are projected to hinder the growth of the market studied.
IT Accounts for a Robust Demand and BFSI Anticipated to Record the Fastest Growth
The mounting need for better management of enormous data from the IT segment contributes to its substantial share, in the software-defined storage market. However, the BFSI segment is estimated to record the fastest growth, during the forecast period. This can be attributed to the increasing demand for analysis of customer data, to achieve a competitive advantage and boost the ongoing digital transformation in the sector.
Asia-Pacific Expected to Witness the Highest Growth Rate in Software-Defined Storage Market
Owing to technological advancements, with the increasing number of companies in the IT sector, one of the largest consumers of the SDS market, Asia-Pacific is expected to witness the highest growth rate, during the forecast period. In terms of market share, North America is expected to lead, taking into account the number of data centers in the region and the resultant requirement of cost-effective storage alternatives.
Key Developments in the Software-Defined Storage Market
• Apr 2018: Red Hat Inc., a leading provider of open source solutions, announced plans to provide the convenience of hardware-optimized systems to its customers, while preserving the flexibility and scale of software-defined storage, through Red Hat Storage One.
Software-Defined Storage Market Major Players: IBM CORPORATION, ORACLE CORPORATION, NETAPP INC., FUJITSU LIMITED, GENETEC INC., VMWARE INC. (DELL INC.),HITACHI DATA SYSTEMS, PURE STORAGE INC. and RED HAT INC., among others.
Reasons to Purchase Software-Defined Storage Market Report
• Analyzing the advancements in the software-defined storage market, amidst a changing market scenario
• Analyzing various perspectives of the market, with the help of Porter’s five forces analysis
• Identifying the type of service and end user that is expected to dominate the market
• Identifying the regions that are expected to witness the fastest growth, during the forecast period
• Understanding the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customize Software-Defined Storage Market Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Software-defined Storage (SDS) is one of the new technologies trending in the enterprise storage market. As employing SDS enables cost savings, whilst improving performance and increasing flexibility, enterprises are slowly shifting toward software-defined storage. In addition, SDS has the ability to separate storage software from hardware, thus cutting down on storage costs, in terms of capital cost and operation expenditure. Storage hardware vendors, such as IBM, Dell, and NetApp, among others, also offer software-defined storage. Associations (like the Storage Network Industry Association (SNIA), which sets standards for the enterprise storage industry) shape the way in which SDS is employed across end-user industries.
The booming volume of unstructured data across various enterprises, for both big and small calls (including IT, telecommunication, etc.) augments the demand for a scalable storage architecture that is reliable and secure. The SDS model addresses this need, by increasing deployment flexibility and enabling organizations to use the software with any storage platform, through a single software interface. Enterprises or IT organizations undergoing digital transformation are likely to adopt SDS for their data storage needs, owing to the advantages that this technology offers, over the traditional storage methods. However, the lack of skilled operators to manage the transition toward SDS and security concerns are projected to hinder the growth of the market studied.
IT Accounts for a Robust Demand and BFSI Anticipated to Record the Fastest Growth
The mounting need for better management of enormous data from the IT segment contributes to its substantial share, in the software-defined storage market. However, the BFSI segment is estimated to record the fastest growth, during the forecast period. This can be attributed to the increasing demand for analysis of customer data, to achieve a competitive advantage and boost the ongoing digital transformation in the sector.
Asia-Pacific Expected to Witness the Highest Growth Rate in Software-Defined Storage Market
Owing to technological advancements, with the increasing number of companies in the IT sector, one of the largest consumers of the SDS market, Asia-Pacific is expected to witness the highest growth rate, during the forecast period. In terms of market share, North America is expected to lead, taking into account the number of data centers in the region and the resultant requirement of cost-effective storage alternatives.
Key Developments in the Software-Defined Storage Market
• Apr 2018: Red Hat Inc., a leading provider of open source solutions, announced plans to provide the convenience of hardware-optimized systems to its customers, while preserving the flexibility and scale of software-defined storage, through Red Hat Storage One.
Software-Defined Storage Market Major Players: IBM CORPORATION, ORACLE CORPORATION, NETAPP INC., FUJITSU LIMITED, GENETEC INC., VMWARE INC. (DELL INC.),HITACHI DATA SYSTEMS, PURE STORAGE INC. and RED HAT INC., among others.
Reasons to Purchase Software-Defined Storage Market Report
• Analyzing the advancements in the software-defined storage market, amidst a changing market scenario
• Analyzing various perspectives of the market, with the help of Porter’s five forces analysis
• Identifying the type of service and end user that is expected to dominate the market
• Identifying the regions that are expected to witness the fastest growth, during the forecast period
• Understanding the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customize Software-Defined Storage Market Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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