Software Defined Storage Market Forecasts to 2028 – Global Analysis By Component (Service, Platform/Solution), Application (Consumer Devices, Mobile, Web), End User, and By Geography

Software Defined Storage Market Forecasts to 2028 – Global Analysis By Component (Service, Platform/Solution), Application (Consumer Devices, Mobile, Web), End User, and By Geography

According to Stratistics MRC, the Global Software Defined Storage Market is accounted for $22.22 billion in 2021 and is expected to reach $178.81 billion by 2028 growing at a CAGR of 34.7% during the forecast period. Software-defined storage is a part of software-defined infrastructure that allows data centers to manage storage and IT resources with the automation and accuracy provided by the software. It is designed in such a way for the organization to keep the business data and leads to the quick delivery of IT services.

Market Dynamics:

Driver:

Benefits offered by the software defined storage

Software-defined storage makes it a simple, affordable, and quite efficient storage platform for all professionals and IT organizations. The platform can be very well coordinated to manage the extraordinary growth in storage requirements without adding any surplus burden to the cost and complexity. With software-defined storage likely to develop as a prominent innovation over the near future, IT organizations are very much interested in investing in the early phase of education just to acquire an in-depth understanding of the most prominent ways to grow software-defined storage for their range of workloads.

Restraint:

Lack of awareness and technical expertise in their implementation

The shortage of a talented workforce for effective deployment of SDS infrastructure and security concerns in virtual cloud storage is restraining the growth of the market. Because of the difficulties of implementation, a particular workforce is required to deal with the power, sophistication, and flexibility provided by SDS solutions, restricting their adoption across data storage applications. Moreover, it is critical for software-defined storage manufacturers to work on further developing software solutions capable of lowering data theft threats that emerge during cloud location storage to increase end-user confidence in SDS solutions.

Opportunity:

Increasing unstructured data quantities

The increasing adoption of recent technologies has resulted in an expansion in the volume of unstructured data collected across various businesses. As these enormous unstructured data volumes should be constantly stored and processed, the adoption of software-defined storage solutions with capabilities has been expanded by the explosive growth of unstructured data across different organizations. Furthermore, the push toward digitalization or automation trends across various enterprises has contributed to the necessity for SDS solutions to further develop reliability, efficiency, and flexibility for processing machine-generated unstructured data and simplifying decision-making processes.

Threat:

Security threats and data breaches

IT professionals are experiencing various security threats and issues with IaaS, ranging from regulatory compliance to data theft. The main concerns about data breaches are the absence of visibility, insufficient controls, and cyber threats and attacks. Thus, theft of data hosted in cloud infrastructure by malicious actors is obstructing the adoption of cloud IaaS and SaaS. The global software-defined storage (SDS) market is consequently, likely to get negatively impacted in the near future.

The software-defined storage controller software segment is expected to be the largest during the forecast period

The software-defined storage controller software segment is estimated to have a lucrative growth as SDS controller software streamlines and automates the storage, abstracts underlying complex storage infrastructures, allows monitoring of stored data, and enhancement of the entire data center infrastructure. This software is likely to gain the maximum traction in the market. The function of controller software allows it to automate network management while making it easier to integrate and administer business applications.

The telecom and ITES segment is expected to have the highest CAGR during the forecast period

The telecom and ITES segment is anticipated to witness the fastest CAGR growth during the forecast period as this sector needs to store huge volumes of information as every day new information is generated that should be stored and kept secure. The telecom and IT sector are hugely customer-centric and customer service plays a vital role in retaining customers. These customer service centers need to have access to customer data and store the new generating data. SDS solution fulfills the storage and management need of the ever-increasing data volumes in the sector.

Region with highest share:

North America is projected to hold the largest market share during the forecast period as the governments in the region have initiated many projects related to the digitalization of their countries. Rapid industrialization, rising cloud-based infrastructure usage, and R&D investments from leading market vendors are some of the significant drivers driving market growth forward in this region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to the technological advancement with the increasing IT number of companies, and large-scale adoption of software-defined solutions by enterprises for enhancing the business processes and efficiency in their data centers. Moreover, the small and medium enterprises (SMEs) in the region are keen on reducing their IT spending by seeking storage virtualization facilities.

Key players in the market

Some of the key players profiled in the Software Defined Storage Market include Western Digital Corporation, Dell, Scality, NetApp, Microsoft, Intel, Ericsson, HPE, Fujitsu, EMC Corporation, IBM, DataCore, Citrix, Atlantis, Vmware, DataDirect Networks and SUSE Group.

Key Developments:

In May 2019, SUSE Group launched SUSE Enterprise Storage 6, the latest release of its software-defined storage solution. The company claims that it enables IT organizations to seamlessly adapt to changing business demands while reducing IT operational expenses with new features focused on containerized, cloud workload support, improved integration with the public cloud, and enhanced data protection capabilities.

In May 2019, DataDirect Networks acquired Nexenta Systems, Inc., The acquisition adds powerful enterprise-class scale-up and scale-out software capabilities for hardware-, protocol-, stack/platform-, cloud- and app-agnostic deployments to DDN's product portfolio.

Usages Covered:
• DevOps
• Surveillance
• Data Backup & Disaster Recovery
• Storage Provisioning and High Availability

Components Covered:
• Service
• Platform/Solution

Types Covered:
• Standalone Software Defined Storage
• Object
• Hypervisor based Storage
• File
• Container based Storage
• Block
• Hyper-Converged Infrastructure

Organization Sizes Covered:
• Large Enterprises
• Small and Medium Businesses (SMBs)

Applications Covered:
• Consumer Devices
• Mobile Applications
• Web Applications

End Users Covered:
• Transportation
• Media and Entertainment
• Retail
• Manufacturing
• Logistics and Warehouse
• Industrial
• Healthcare
• Government and Public Sector
• Telecom and ITES
• Education
• Banking, Financial Services, and Insurance (BFSI)
• Energy & Utilities

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances