The latest report by IMARC Group, titled “Software Defined Storage Market Report by Type (Block, File, Object, Hyper-converged Infrastructure), Components (Solution, Service), Size of Enterprise (Small and Medium-sized Enterprise, Large Enterprise), Application (Surveillance, Data Backup and Disaster Recovery, Storage Provisioning and High Availability, and Others), Industry Vertical (BFSI, Telecom and IT, Government, Education, Logistics and Warehouse, Media and Entertainment, and Others), and Region 2024-2032“,  The global software-defined storage market size reached US$ 29.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 237.5 Billion by 2032, exhibiting a growth rate (CAGR) of 26.13% during 2024-2032.

Factors Affecting the Growth of the Software Defined Storage Industry:

  • Increasing Need for Cost Efficiency:

SDS offers significant cost savings over traditional storage solutions. By abstracting the storage capabilities from the hardware, organizations can utilize commodity hardware, which is less expensive than proprietary storage systems. This approach reduces initial capital expenditure and also lowers operational costs since software-defined storage solutions can be managed more efficiently and require less physical space. Additionally, SDS enables more precise scaling, allowing businesses to add storage capacity as needed without over-provisioning, further optimizing costs.

  • Rising Flexibility and Scalability:

In today's dynamic business environment, the ability to quickly scale storage resources up or down based on demand is crucial. SDS excels in this area by providing unparalleled flexibility. Since the storage logic is software-based, it can easily integrate with a wide range of hardware types and configurations. This flexibility supports heterogeneous environments and facilitates easy expansion or contraction of storage resources without significant downtime or hardware investments. Furthermore, SDS solutions often come with automated management features that simplify the deployment and scaling of storage resources, making it easier for organizations to adapt to changing data storage needs.

  • Rising Need for Data Protection:

The growing importance of data in business decision-making has placed a premium on advanced data management and protection features. SDS provides sophisticated data services such as deduplication, replication, snapshotting, and tiering, enhancing data integrity and accessibility. Moreover, the inherent flexibility of SDS allows for better disaster recovery strategies as data can be easily replicated and moved across various locations, minimizing data loss risks. This is particularly important in an era where data breaches and loss can have significant financial and reputational consequences for organizations. SDS’s enhanced data management capabilities ensure that businesses can maintain high levels of data availability and security, catering to the stringent demands of modern data governance and compliance standards.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/software-defined-storage-market/requestsample

Competitive Landscape with Key Player:

  • Cisco Systems Inc.
  • Citrix System Inc.
  • DataCore Software
  • Dell Technologies Inc.
  • Fujitsu Limited
  • Hewlett Packard Enterprise Co
  • Inspur Systems Inc.
  • Intel Corporation
  • International Business Machines Corporation
  • Nutanix, Inc.
  • Pure Storage Inc.
  • VMWare Inc

The report has segmented the market into the following categories:

Type Insights:

  • Block
  • File
  • Object
  • Hyper-converged Infrastructure

Based on the type, the market has been divided into block, file, object, and hyper-converged infrastructure.

Components Insights:

  • Solution 
    • Data Management
    • Data Security and Compliance Software
    • Software-Defined Storage Controller Software
    • Software-Defined Storage Server
    • Storage Hypervisor
    • Others
  • Service

On the basis of the component, the market has been segmented into solution (data management, data security and compliance software, software-defined storage controller software, software-defined storage server, storage hypervisor, and others) and service.

Size of Enterprise Insights:

  • Small and Medium-sized Enterprise
  • Large Enterprise

Based on the size of enterprise, the market has been classified into small and medium-sized and large enterprise.

Application Insights:

  • Surveillance
  • Data Backup and Disaster Recovery
  • Storage Provisioning and High Availability
  • Others

On the basis of the application, the market has been segmented into surveillance, data backup and disaster recovery, storage provisioning and high availability, and others.

Industry Vertical Insights:

  • BFSI
  • Telecom and IT
  • Government
  • Education
  • Logistics and Warehouse
  • Media and Entertainment
  • Others

Based on the industry vertical, the market has been classified into BFSI, telecom and IT, government, education, logistics and warehouse, media and entertainment, and others.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Based on the region, the market has been segregated into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Global Software Defined Storage Market Trends:

Presently, with the growing prevalence of cyber threats and the increasing regulatory scrutiny around data protection, security, and compliance have become top priorities for organizations. SDS solutions are incorporating advanced security features, such as encryption, to protect data at rest and in transit. Furthermore, SDS platforms are being designed to support compliance with various regulatory standards, providing features like data retention policies, audit trails, and fine-grained access controls. These capabilities enable organizations to safeguard sensitive data and meet regulatory requirements more effectively.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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