The global software defined storage market size reached US$ 29.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 237.5 Billion by 2032, exhibiting a growth rate (CAGR) of 26.13% during 2024-2032. The rising software utilization in the banking, financial services, and insurance (BFSI) industry, increasing adoption of cloud-based platforms, and introduction of blockchain-based software-defined storage (SDS) represent some of the key factors driving the market.
Market Size in 2023
|US$ 29.4 Billion|
Market Forecast in 2032
|US$ 237.5 Billion|
|Market Growth Rate 2024-2032||26.13%|
Software-defined storage (SDS) refers to a data management technology that separates storage resources and functionality from the underlying physical hardware. It is a software layer between the physical storage and data request that provides storage access services, connectivity, and networking facilities to the users. SDS is widely used for storage provisioning, hybrid cloud implementation, data backup, surveillance, data center modernization, and ruggedized systems. It is a flexible, cost-effective, scalable, agile, and highly efficient storage architecture that minimizes latency issues and reduces downtime. It also simplifies management, increases automation, improves visibility, and enhances transparency in monitoring and managing storage. As a result, SDS finds extensive applications across the banking, financial services, and insurance (BFSI), information technology (IT), telecommunication, government, education, entertainment, healthcare, and manufacturing industries.
The rising software utilization in the BFSI industry is one of the primary factors driving the market growth. SDS is widely used for handling massive data sets, limiting file access with encryption, data backup and recovery, and providing highly secure storage capabilities to financial institutions, which, in turn, reduce capital expenditure, improve scalability, and enhance efficiency. Furthermore, the increasing adoption of cloud-based platforms by organizations due to their cost-effectiveness and high efficiency is facilitating the demand for SDS to create a unified storage volume that aids in overcoming data management difficulties and improving compatibility between on-site and cloud-storage devices. Additionally, the introduction of blockchain-based SDS solutions that maintain the integrity, security, authenticity, and immutability of customers’ stored data through highly secured protocols and provides faster data recovery, which in turn is positively influencing the market growth. Moreover, the rising software adoption as a reliable, less complex, and scalable solution to store, manage, and process large amounts of unstructured data generated by advanced technologies, such as artificial intelligence (AI), the Internet of Things (IoT), machine learning (ML), genomics, and data analytics is propelling the market growth. Apart from this, the widespread software adoption in military applications to strengthen communication capabilities between warfighters, allow seamless integration of next-generation hardware, and enable continuity of operation planning (COOP) through synchronous mirroring is providing an impetus to the market growth. Other factors, including growing digitalization, increasing consumer awareness regarding various benefits of SDS over traditional data storage methods, and rising investment in research and development (R&D) activities, are anticipated to drive the market growth.
IMARC Group provides an analysis of the key trends in each segment of the global software defined storage market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type, components, size of enterprise, application, and industry vertical.
The report has provided a detailed breakup and analysis of the software defined storage market based on the type. This includes block, file, object, and hyper-converged infrastructure.
A detailed breakup and analysis of the software defined storage market based on the components has also been provided in the report. This includes solution (data management, data security and compliance software, software-defined storage controller software, software-defined storage server, storage hypervisor, and others) and service.
Size of Enterprise Insights:
A detailed breakup and analysis of the software defined storage market based on the size of enterprise has also been provided in the report. This includes small and medium-sized and large enterprise.
A detailed breakup and analysis of the software defined storage market based on the application has also been provided in the report. This includes surveillance, data backup and disaster recovery, storage provisioning and high availability, and others.
Industry Vertical Insights:
A detailed breakup and analysis of the software defined storage market based on the industry vertical has also been provided in the report. This includes BFSI, telecom and IT, government, education, logistics and warehouse, media and entertainment, and others.
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.
The report has also provided a comprehensive analysis of the competitive landscape in the global software defined storage market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Cisco Systems Inc., Citrix System, Inc., DataCore Software, Dell Technologies Inc., Fujitsu Limited, Hewlett Packard Enterprise Co, Inspur Systems Inc., Intel Corporation, International Business Machines Corporation, Nutanix, Inc., Pure Storage Inc., VMWare Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis||2023|
|Scope of the Report||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|Types Covered||Block, File, Object, Hyper-converged Infrastructure|
|Size of Enterprises Covered||Small and Medium-sized Enterprise, Large Enterprise|
|Applications Covered||Surveillance, Data Backup and Disaster Recovery, Storage Provisioning and High Availability, Others|
|Industry Verticals Covered||BFSI, Telecom and IT, Government, Education, Logistics and Warehouse, Media and Entertainment, Others|
|Regions Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Cisco Systems Inc., Citrix System, Inc., DataCore Software, Dell Technologies Inc., Fujitsu Limited, Hewlett Packard Enterprise Co, Inspur Systems Inc., Intel Corporation, International Business Machines Corporation, Nutanix, Inc., Pure Storage Inc., VMWare Inc., etc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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