Software-Defined Storage Market: Summary
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.
Software-Defined Storage Market: Drivers & Restraints
- Increasing Adoption of SDS Solution in the Banking Sector
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.
- Lack of Skilled Workforce
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.
Software-Defined Storage Market: Key Segments
- Segmentation based on Usage Type: Surveillance, Data Backup and Disaster Recovery and Storage Provisioning.
- Segmentation based on Component: Platform and Services.
- Segmentation based on Enterprises Size: Small and Medium Enterprises and Large Enterprises.
- Segmentation based on Application: BFSI, Education, IT Services, Government, Manufacturing, Healthcare and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Software-Defined Storage Market: Report Scope
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.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Usage Type, Component, Enterprise Size, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Huawei Technologies Co., Ltd (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Cisco Systems, Inc.
- SCALITY INC.
- Dell Inc.
- IBM Corporation
- Hewlett Packard Enterprise Development LP
- VMware, Inc
- Hitachi Vantara LLC
- Other Key Companies
- Western Digital Corporation
Software-Defined Storage Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Software-Defined Storage Market, by Usage Type
- Data Backup And Disaster Recovery
- Storage Provisioning
Software-Defined Storage Market, by Component
Software-Defined Storage Market, by Enterprises Size
- Small and Medium Enterprises
- Large Enterprises
Software-Defined Storage Market, by Application
- IT Services
Software-Defined Storage Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Software-Defined Storage Market Providers
- Software-Defined Storage Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Software-Defined Storage Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SOFTWARE-DEFINED STORAGE MARKET STUDY