According to the report by Expert Market Research (EMR), the global software-defined storage market size is projected to grow at a CAGR of 30% between 2023 and 2028. Aided by the increasing need for cost-efficient storage solutions and the broadening applications of SDS in various sectors, the market is expected to grow significantly by 2028.
Software-defined storage is an innovative storage architecture approach that separates storage software from its hardware, providing a more flexible and scalable solution. It plays a critical role in data management, enhancing business performance, and reducing costs. Besides its flexibility and scalability advantages, SDS also offers improved data protection and automated management capabilities, making it a valuable tool in various sectors including IT and telecommunication, retail, healthcare, and banking. Defined storage software aids in overcoming cloud computing’s challenges with data management.
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The rising need for cost-efficient and scalable storage solutions is the primary force driving the global software-defined storage market growth. With the growing volumes of data generated by businesses and the increased adoption of cloud-based services, there has been a significant shift towards SDS. Moreover, the increasing focus on business continuity and disaster recovery has further propelled the demand for SDS, owing to its enhanced data protection capabilities.
The burgeoning applications of SDS across various industries also contribute significantly to the global software-defined storage market development In the IT and telecommunication industry, SDS is used to manage and store vast amounts of data. Retail and banking sectors leverage SDS to enhance their customer experience and business operations, while healthcare utilises SDS for medical data storage and patient care management. Furthermore, SDS’s ability to support virtualised storage environments makes it an essential element in modern data centres, thus increasing the software-defined storage market demand.
Moreover, the growing emphasis on digital transformation and the need for agile IT infrastructure is leading to an increased focus on SDS as a viable solution. With the rapid advancement in technology and the rising popularity of virtualisation and cloud computing, SDS has emerged as a key enabler of digital transformation, thereby driving the software-defined storage market expansion.
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Software-Defined Storage Market Segmentation
The market can be divided based on type, component, solution, usage, company size, platform, end use, and region.
Market Breakup by Type
• Hyper-Converged Infrastructure Software
Market Breakup by Component
Market Breakup by Solution
• Data Management
• Data Security and Compliance Software
• Software-Defined Storage Controller Software
• Software-Defined Storage Server
• Storage Hypervisor
Market Breakup by Usage
• Data Back Up and Disaster Recovery
• Storage Provisioning
Market Breakup by Company Size
• Small and Medium Enterprises
• Large Enterprises
Market Breakup by Platform
• Web Applications
• Mobile Applications
Market Breakup by End Use
• Media and Entertainment
Market Breakup by Region
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global software-defined storage companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Dell Technologies Inc.
• Fujitsu Limited
• International Business Machines Corporation
• Citrix Systems, Inc.
• NetApp, Inc.
• Seagate Technology PLC
• Hewlett Packard Enterprise Co
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