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The global storage software market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 9% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Storage software refers to an application-based storage architecture that manages storage on a data center, private cloud or virtualization platform. It enables a user to monitor and manage existing data storage requirements and predict future needs. The software is majorly used for data protection and recovery, device management, storage replication and virtualization and archiving. It can automatically make necessary adjustments based on the capacity needs of the user and perform tasks, create new connections and operate hardware without needing the administrator’s intervention. In comparison to the traditionally used tools, such as network-attached (NAS) and storage area network (SAN) systems, SDS minimizes the software’s dependency on the proprietary hardware. Owing to this, it finds extensive applications across various industries, including telecommunications, information technology (IT), banking, financial services and insurance (BFSI), manufacturing and retail.
The emerging trend of digitization, along with the increasing adoption of cloud-based storage software, is one of the key factors driving the growth of the market. With a rapid increase in the volume of digital data generated by the organizations, there is widespread adoption of storage software to manage unstructured and disorganized data. In line with this, the integration of automation across industries is also providing a boost to the market growth. Various technological advancements, such as the development of the Internet of Things (IoT), have enabled organizations to store their data on the cloud and access it remotely, which is also contributing to the market growth. Additionally, the advent of hyper-converged infrastructure technology is acting as another major growth-inducing factor. This technology runs storage, computational activities and networking systems in a virtualized environment for space optimization and optimal utilization of resources.
Breakup by Software Type:
Breakup by Deployment Type:
Breakup by Organization Size:
Breakup by Vertical:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being CA Technologies (Broadcom Inc.), Citrix Systems Inc., EMC Corporation (Dell Technologies Inc.), FUJITSU (Furukawa Group), Hewlett Packard Enterprise Development LP, Hitachi Vantara Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Netapp Inc., Oracle Corporation, Symantec (Broadcom Inc.), Western Digital Corporation, etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Software Type, Deployment Type, Organization Size, Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||CA Technologies (Broadcom Inc.), Citrix Systems Inc., EMC Corporation (Dell Technologies Inc.), FUJITSU (Furukawa Group), Hewlett Packard Enterprise Development LP, Hitachi Vantara Corporation, Huawei Technologies Co. Ltd., International Business Machines Corporation, Netapp Inc., Oracle Corporation, Symantec (Broadcom Inc.) and Western Digital Corporation|
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Key Questions Answered in This Report:
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