Software Defined Storage Market: Global Industry Analysis and Forecast (2023-2029)

Software Defined Storage Market size was valued at US$ 16.25 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 25.8% from 2023 to 2029, reaching nearly US$ 81.04 Bn.
Software Defined Storage Market Overview:
Software-defined storage is a data management strategy in which data storage resources are isolated from the underlying physical storage technology, allowing for greater flexibility. The combination of resource flexibility and programmability allows storage to respond to changing demands quickly and automatically. This report focuses on the different segments of the Software Defined Storage market (Component, Software, Service, Usage, Organization Size, Industry Vertical, and Region). The major industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a comprehensive look at today's rapid breakthroughs in a range of fields. Facts and numbers, visualisations, and presentations are used to show the primary data analysis during the historical era from 2018 to 2022. The market drivers, restraints, opportunities, and challenges for Software Defined Storage are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Software Defined Storage market.To know about the Research Methodology :- Request Free Sample Report
Software Defined Storage Market Dynamics:
Unstructured data quantities are rapidly increasing.

The growing adoption of modern technologies such as artificial intelligence (AI) and the internet of things (IoT) has resulted in an increase in the volume of unstructured data collected from various sensors, equipment, and linked devices across numerous industries. Because these massive unstructured data volumes must be continuously stored and processed, a highly scalable and efficient unified data storage and management solution becomes critical. The adoption of software defined storage (SDS) solutions with capabilities such as scale-out architecture, non-virtualization support, integration with cloud environments, high data performance speeds, and so on has been impacted by the explosive growth of unstructured data across various organisations. Igneous' State of Unstructured Data Management 2022 analysis indicated that unstructured data volumes are growing at a rate of 23 percent per year, nearly doubling every 40 months. Additionally, the push toward digitalization or automation trends across numerous industries has contributed to the requirement for SDS solutions to improve reliability, productivity, and flexibility for processing machine-generated unstructured data and simplify decision-making processes.

Inadequate knowledge and technological expertise.

A major challenge hindering the market growth of Software defined Storage (SDS) infrastructures are a lack of awareness and technical expertise in their implementation or deployment. Due to the difficulties of implementation, a specialised workforce is required to handle the power, sophistication, and flexibility provided by SDS solutions, limiting their adoption across data storage applications. The market's growth is hampered by a lack of awareness, training, and education among end-user customers about the benefits of employing SDS solutions over traditional storage. Furthermore, it is critical for software defined storage manufacturers to work on improving software solutions capable of lowering data theft threats that arise during cloud location storage in order to increase end user confidence in SDS solutions.
Software Defined Storage Market Segment Analysis:
Software Defined Storage Market is segmented by Component, Software, Service, Usage, Organization Size, and Industry Vertical.

Based on the Software, the market is segmented into SDS server, Data security and compliance software, SDS controller software, Data management, and Storage hypervisor. SDS controller software segment is expected to hold the largest market share of xx% by 2029. The SDS controller software streamlines and automates storage, abstracts complex storage infrastructures, provides data monitoring, and optimises the entire datacenter infrastructure. During the forecast period, this software is expected to gain largest share of the market. Controller software has the ability to automate network management while also making it easy to integrate and govern corporate applications. As a result, the need for SDS controller software is steadily increasing.

Based on the Usage, the market is segmented into Surveillance, Data backup and disaster recovery, Storage provisioning and high availability, and Others (DevOps). Data backup and disaster recovery segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Data backup using traditional storage systems has become obsolete due to high prices and administrative requirements, resulting in a greater usage of software defined storage solutions. Traditional storage necessitates a variety of data protection solutions, such as physical server backup tools, virtualized backup tools, cloud backup tools, and others, all of which contribute to a complex and costly environment. Overcoming data security and storage silos, as well as reducing the need to access multiple tools to restore files, drives, systems, or an entire site, has aided in the adoption of software defined storage (SDS) solutions that provide improved flexibility.



Furthermore, SDS may handle all aspects of storage through a single interface, eliminating the need for separate data protection, backup, replication, or disaster recovery systems, resulting in increased profits for the enterprise. SDS solutions help organisations transfer, safeguard, and recover data regardless of storage location, whether onshore, offsite, or in the cloud, and play an important role in their growth across diverse industries.

Based on the Industry Vertical, the market is segmented into Education, Telecom and ITES, Logistics and warehouse, Healthcare, Media and entertainment, Banking, Financial Services, and Insurance (BFSI), and Others. Banking, Financial Services, and Insurance (BFSI) segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Financial institutions require highly secure and available storage capabilities that can scale up and out, as well as appliances that can connect between sites. Software-defined storage solutions aid BFSI processes, such as handling large data sets, limiting file access using encryption, and even data backup and recovery. Bank of America invested $300 million in 2017 to transition to software-defined infrastructure and eliminate three data centres. The American bank transferred 20,000 workloads onto its software-defined infrastructure as part of Project Greenfield, lowering expenses per workload. The market is expected to grow at a high rate during the forecast period, as the number of such used cases increases.
Regional Insights:
North American region is expected to dominate the Software Defined Storage Market during the forecast period 2023-2029. The North American region is expected to hold the largest market share of xx% by 2029. This is due to the factors such as increased cloud adoption, a shift toward advanced IT infrastructures, and others. Rapid industrialization, rising cloud-based infrastructure usage and R&D investments from leading market vendors such as NetApp Inc., IBM Corporation, VMware Inc., and others are some of the significant drivers driving market growth forward in this region. NetApp announced the launch of its SolidFire Enterprise SDS solution, as well as updates to its ONTAP data management software, in October 2021. These enhancements were made to assist enterprises in improving performance and security, extending data management from on-premises to the cloud, lowering costs, and consuming hybrid cloud infrastructure as a service.

The objective of the report is to present a comprehensive analysis of the Global Software Defined Storage Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Software Defined Storage Market dynamic and structure by analyzing the market segments and projecting the Global Software Defined Storage Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Software Defined Storage Market make the report investor’s guide.
Software Defined Storage Market Scope: Inquire before buying



Software Defined Storage Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
25.8%
US$ 16.25 Bn
US$ 81.04 Bn


Segments Covered


by Component
Platform/solution
Service
by Software
SDS server
Data security and compliance software
SDS controller software
Data management
Storage hypervisor
by Service
Consulting and training
Support and maintenance
Deployment and testing
Training and consulting
SDS service
by Organization Size
Small and Medium Businesses (SMBs)
Large enterprises
by Usage
Surveillance
Data backup and disaster recovery
Storage provisioning and high availability
Others (DevOps)
by Industry Vertical
Education
Telecom and ITES
Logistics and warehouse
Healthcare
Media and entertainment
Banking, Financial Services, and Insurance (BFSI)
Others


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Key Players:
1. IBM
2. VMware
3. Fujitsu
4. Scality
5. Nutanix
6. EMC
7. Seagate
8. Intel
9. Dell
10. Actifio
11. Redapt
12. Huawei Technologies Co., Ltd.
13. Cisco Systems, Inc.
14. Infinidat Limited
15. Oracle Corporation
16. NetApp, Inc.
17. Hitachi Vantara Corporation
18. Inspur Systems Inc.
19. Hewlett-Packard Enterprise
20. Datacore
21. HPE
22. Citrix

Frequently Asked Questions:

1] Which region is expected to hold the highest share in the Software Defined Storage Market?
Ans. North America is expected to hold the highest share in the Software Defined Storage Market.

2] Who are the top key players in the Software Defined Storage Market?
Ans. IBM, VMware, Fujitsu, Scality, Nutanix, and EMC are the top key players in the Software Defined Storage Market.

3] Which segment is expected to hold the largest market share in the Software Defined Storage Market by 2029?
Ans. SDS controller software segment is expected to hold the largest market share in the Software Defined Storage Market by 2029.

4] What is the market size of the Software Defined Storage Market by 2029?
Ans. The market size of the Software Defined Storage Market is expected to reach US $81.04 Bn. by 2029.

5] What was the market size of the Software Defined Storage Market in 2022?
Ans. The market size of the Software Defined Storage Market was worth US $ 16.25 Bn. in 2022.