Global Software Defined Storage Market size was US$ 9.4 Bn in 2019 and is expected to reach US$ 58.96 Bn by 2027, at a CAGR of 25.8% during forecast period.
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Global Software Defined Storage Market Definition
Software defined storage (SDS) is the storage architecture used for building data storage that places an intelligent virtualization software layer between storage and applications in order to help manage data growth and enable multicloud flexibility.
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Global Software Defined Storage Market Dynamics
The global software defined storage market research reports presents a comprehensive analysis of drivers and restraints of the market. Software defined storage model offers some benefits such as future-proof with independence from hardware vendor lock-in, programmability and automation, faster changes and scaling up and down, greater efficiency, availability, scalability, flexibility, interoperability, management and high performance are improving the growth of market. In addition, cost effectiveness of SDS model is the major driving factor behind the growth of market. Furthermore, increasing adoption of cloud based infrastructure and big data analytics technologies are boosting the growth of market.
However, the start up cost of new SDS deployment can be prohibitive that could hamper the growth of market. Some limitations such as leveraging current infrastructure, incomplete data services and lack of cloud economics could act as obstructing factors for the market. In addition, lack of professionals with SDS expertise is the major restrain factor that could hinder the growth of market.
Global Software Defined Storage Market: Segmentation Analysis
By software, SDC controller software segment dominated the market and is expected to grow at CAGR of XX% during forecast period. SDS controller software offers storage access services, networking, and connectivity. The important benefit of SDS controller software is that it makes no assumptions about the capacity or usefulness of the underlying hardware.
By services, consulting and training segment dominated the market in 2018 and support and maintenance segment is expected to dominate the market during forecast period. Increasing adoption of support and maintenance services in IT companies is driving the growth of market. This service includes ongoing support like bug fixing, adaptive enhancement, technical improvements, software enhancement, regular upgrades and real-time support.
By industry, banking, financial services, and insurance segment along with telecom and ITES segment dominated the market and is expected that these segments will maintain their dominance over the forecast period. Requirement of highly secure and highly available storage models are driving the growth of market. Software defined storage is used in BFSI sector to control huge data sets, to give accesses to file with encryption and to store data backup and recovery.
Global Software Defined Storage Market: Regional Analysis
Region wise, North America held the largest market share in 2018 and is expected to maintain its dominance during forecast period. The US and Canada are major key contributors behind the growth of market across the region. Presence of large IT and telecom companies such as IBM and Dell which are working towards the SDS model are diving the growth of market in the region.
In 2018, IBM Storage announced new innovations around its software-defined storage (SDS), data protection, and storage systems portfolio. Aiming to help drive down costs, ease management, increase security, all the while helping users scale their storage to meet the needs of growing data volumes.
The objective of the report is to present a comprehensive analysis of the Global Software Defined Storage Market including all the stakeholders of the industry. The past and current status of the industry with 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 includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have 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 report also helps in understanding Global Software Defined Storage Market dynamics, structure by analyzing the market segments and projects the Global Software Defined Storage Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Software Defined Storage Market make the report investor’s guide.
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Global Software Defined Storage Market, By Component
Global Software Defined Storage Market, By Software
• SDS server
• Data security and compliance software
• SDS controller software
• Data management
• Storage hypervisor
Global Software Defined Storage Market, By Service
• Consulting and training
• Support and maintenance
• Deployment and testing
• Training and consulting
• SDS service
Global Software Defined Storage Market, By Usage
• Data backup and disaster recovery
• Storage provisioning and high availability
• Others (DevOps)
Global Software Defined Storage Market, By Industry
• Telecom and ITES
• Logistics and warehouse
• Media and entertainment
• Banking, Financial Services, and Insurance (BFSI)
Global Software Defined Storage Market, By Region
• North America
• Asia Pacific
• South America
• Middle East Africa
Global Software Defined Storage Market, Key Players
• Huawei Technologies Co., Ltd.
• Cisco Systems, Inc.
• Infinidat Limited
• Oracle Corporation
• NetApp, Inc.
• Hitachi Vantara Corporation
• Inspur Systems Inc.
• Hewlett-Packard Enterprise
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