Software Defined Storage Market Overview
Software Defined Storage is a computer program for managing data storage resources and functionality. Unlike traditional Storage Area Network (SAN) systems, SDS is designed to perform on any industry-standard system. The growth and development of cloud infrastructure and its numerous benefits like cost-effectiveness, flexibility, automation, and thriving value will drive the Software Defined Storage Market in the forecast period.
The higher adoption of hyper-converged technology will significantly help enterprises to avoid dependency on storage, computing, and networking systems. It enhances resource utilization. Furthermore, power consumption reduction and space optimization led to an increase in the speed and efficiency of data centers. Therefore, the rise of hyper-converged technology is the key driver fueling the Software Defined Storage Market growth in the forecast period. The major companies focus on research and development activities leading toward new innovative products. The software-defined data centre is a centralized place called Software-defined storage, and it is the latest technology of today’s IT generation.
The Software Defined Storage Market has reached a value of USD 4.72 Billion by 2016, and now it will register a 27 % CAGR and a market valuation of USD 18.5 Billion between 2022 to 2027.
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Market Segments
The Software Defined Storage Market is segregated into component, software, service, usage, organization size, and verticals.
The component segment is bifurcated into Platform/solution and Service. The software segment is comprised of SDS server, Data security and compliance software, SDS controller software, Data management, and Storage hypervisor.
The service segment is divided into Consulting and training, Support and maintenance, Deployment and testing, Training and consulting, and SDS service.
The usage segment is categorized into Surveillance, Data backup and disaster recovery, Storage provisioning and high availability, and Others.
The organization size of the market has Small and Medium Businesses (SMBs) and Large enterprises. The industrial verticals are segregated into Education, Telecom and ITES, Logistics and warehouse, Healthcare, Media and entertainment, BFSI, and others.
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Regional Analysis
The geographical growth of the Software Defined Storage Market shows that it covers prominent regions like North America, Europe, Asia Pacific, South America and the Middle East, and Africa.
North America is observed as the fastest-growing region, and it will be the biggest market in the forecast period. The region is emerging due to the demand for smart safety devices and the presence of major players like NetApp and Dell. North America is followed by Europe, which holds the second position. The Asia Pacific is the third-largest market.
Various countries like U.K., Spain, and France are adopting the latest technology. The major organizations in North America are upgrading major technologies with the adoption of digital business strategies. The major portion of Asia Pacific will show the highest CAGR globally in the forecast period.
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Industry News
In April 2022, Viking Enterprise Solutions, a product division of Sanmina Corporation, announced the Cloud Native Obsidian (CNO) launch. It is an on-premise storage solution that provides enterprises with complete control of mission-critical and accessed data. CNO addresses the enterprise sector to deliver easy-to-manage, cloud-based solutions to market segments, including the video surveillance, backup and archive, media and entertainment, and enterprise file services sectors.
Software Defined Storage Market By Components (Platforms and Services), Application (Telecom and ITES, Logistics and Warehouse, Healthcare, Media and Others), organization size (large enterprises and small and medium enterprises) – Forecast To 2027
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