The Global Software-Defined Storage Market is projected to reach a value of over USD 47.8 billion by 2027 at a CAGR of around 30.9%.
The Software-Defined Storage is refers to a technology, which is used in data storage management that separates the functions responsible for provisioning capacity, controlling data placement as well as protecting data from a physical hardware on which is stored. Whereas, it benefits with features such as programmability & automation, quick changes & scaling up, and down & greater efficiency. Moreover, it is a part of a larger industry trend which includes software-defined networking (SDN), software-defined infrastructure and software-defined data centers.
Hence, it also permit the user to upgrade or downgrade hardware according to the requirements. These advantage will lead to increase the adoption for the Software-Defined Storage market in the forecast period.
Market Driver:
With the increasing adoption of SDS solution in the banking sector is witness to boost the growth of the market in the forecast period. As the financial sector required a high storage and high security to perform the tasks. Whereas, the SDS offers a various solution to enhance the operational efficiency by managing the data sets, as well as the data backup and recovery. In 2017, the Bank of America had spent more than USD 250 million, as it switched to software-defined platform while getting rid of three data centers.
Furthermore, with the growing digital platform the data is the most important thing. Where, the software defined platform as well as the storage solution is providing benefits to the bank globally to access, analyze and share the data from office operations. Hence, these trend will fuel the growth of the Software-Defined Storage market in the forecast period.
Market Restraints:
One of the major key concern of the market is the lack of skilled workforce which may hamper the market growth. However, the lack of skilled operators for the managing the transition toward Software-Defined Storage as well as the cyber threat issue are excepted to hinder the growth of the market. Whereas, the effective deployment of SDS infrastructure and reliability concerns in virtual cloud storage will also impact the market growth. Also, the need to educate the customers and to know the actual importance of SDS. Hence, the SDS vendors need to offer enhance solutions which helps to reduce the risk of storing the data on cloud.
The report on the software-defined storage market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Usage Type, Component, Enterprise Size, Application, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South America |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Software-Defined Storage Market, by Usage Type
Software-Defined Storage Market, by Component
Software-Defined Storage Market, by Enterprises Size
Software-Defined Storage Market, by Application
Software-Defined Storage Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SOFTWARE-DEFINED STORAGE MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
