NEW
YORK, June 25, 2024 /PRNewswire/ -- The global
software-defined storage (SDS) market size is estimated to
grow by USD 105.07 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of over 37.02% during the forecast period.
Surge in cloud adoption is driving market growth, with a
trend towards rise of hyper-converged technology.
However, high costs associated with software-defined storage
poses a challenge. Key market players include Avaya LLC,
Broadcom Inc., Cisco Systems Inc., Citrix Systems Inc., DataCore
Software Corp., DataDirect Networks Inc., Dell Technologies Inc.,
Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei
Technologies Co. Ltd., International Business Machines Corp.,
Lenovo Group Ltd., Microsoft Corp., NetApp Inc., Nutanix Inc.,
Oracle Corp., Pure Storage Inc., Telefonaktiebolaget LM Ericsson,
and VMware Inc..
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
Software-Defined
Storage (SDS) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
37.02%
|
Market growth
2024-2028
|
USD 105079.3
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
27.17
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
37%
|
Key
countries
|
US, China, Japan, UK,
and Germany
|
Key companies
profiled
|
Avaya LLC, Broadcom
Inc., Cisco Systems Inc., Citrix Systems Inc., DataCore Software
Corp., DataDirect Networks Inc., Dell Technologies Inc., Fujitsu
Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei
Technologies Co. Ltd., International Business Machines Corp.,
Lenovo Group Ltd., Microsoft Corp., NetApp Inc., Nutanix Inc.,
Oracle Corp., Pure Storage Inc., Telefonaktiebolaget LM Ericsson,
and VMware Inc.
|
Market Driver
The global software-defined storage (SDS) market is experiencing
growth due to the increasing adoption of hyper-converged
infrastructure (HCI) by enterprises. HCI, a unified system
combining storage, computing, and networking, enhances resource
utilization and reduces power consumption. Vendors like Cisco offer
HCI solutions, such as HyperFlex systems, which provide agility,
high performance, and scalability through software-defined
computing, storage, and networking. These solutions support data
center core, multi-cloud, and edge deployments, contributing to the
growth of the SDS market.
The Software-Defined Storage (SDS) market is experiencing
significant growth due to increasing demands for agility and
efficiency in data management. Artificial Intelligence (AI) and
machine learning technologies are driving innovation in SDS
solutions, providing features like automating processes, improving
data security, and enhancing storage performance. Intelligent SDS
systems are enabling businesses to cost-effectively manage their
data, especially in the context of cloud and on-premises
environments. Additionally, the integration of storage and network
functions is leading to the development of more advanced SDS
offerings. Overall, the SDS market is trending towards more
flexible, scalable, and intelligent storage solutions.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The Software-Defined Storage (SDS) market allows businesses to
consolidate data center components, reducing CAPEX and operational
costs through technologies like virtualization, containerization,
and hyper-converged infrastructure. Vendors offer various SDS
solutions, including primary, secondary, object, and cloud storage.
However, enterprises face challenges in storage consolidation, with
some vendors requiring upfront licensing fees based on capacity.
Inefficient utilization of existing infrastructure can result in
substantial losses. To address these concerns, market players
innovate and collaborate. Yet, the increasing use of AI and IoT
generates vast data volumes, posing storage and management
challenges, potentially hindering market growth.
- The Software-Defined Storage (SDS) market is experiencing
significant growth due to the increasing demand for flexible and
efficient storage solutions. However, the implementation of SDS
comes with certain challenges. One challenge is ensuring
compatibility with various storage hardware and software platforms.
Another challenge is managing the complexity of SDS environments,
which require advanced skills and expertise. Additionally, security
is a major concern, as SDS can expose vulnerabilities if not
properly configured and managed. Encryption and access control
mechanisms are essential to mitigate these risks. Lastly,
scalability is a challenge, as SDS must be able to handle
increasing data volumes and support various workloads. Despite
these challenges, the benefits of SDS, such as agility, cost
savings, and improved performance, make it a worthwhile investment
for businesses.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This software-defined storage (sds) market report extensively
covers market segmentation by
- End-user
- 1.1 BFSI
- 1.2 Telecom and IT
- 1.3 Government
- 1.4 Healthcare
- 1.5 Education and others
- Component
- 2.1 Solution
- 2.2 Services
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 BFSI- The software-defined storage (SDS) market
experiences significant growth in the BFSI sector due to increasing
storage demands, data protection regulations, and technological
innovations. Enterprises in this sector seek agile, scalable, and
efficient SDS solutions for managing unstructured data and ensuring
security. Notable vendors like Red Hat and OSNEXUS provide
offerings for big data management, encryption, and disaster
recovery. The BFSI segment's growth is driven by the adoption of AI
technologies and the need to optimize storage costs.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
In the rapidly evolving digital economy, Artificial Intelligence
(AI) is revolutionizing various sectors, including the Business
Financial Services Industry (BFSI). One of the significant areas of
transformation is the automation of process controls through
advanced Data Center Solutions. Exponential data growth in the BFSI
sector necessitates the adoption of innovative technologies like
Software-Defined Storage (SDS). SDS, which includes
Container-Native solutions and Cloud Storage, offers Enterprises
cost-effective, flexible, and efficient data management. Customer
data analysis is a crucial application of SDS, enabling businesses
to gain valuable insights. Digital Transformation in Emerging
Economies is accelerating the demand for SDS, with Public Sector
Staff and Citizens benefiting from improved Data Protection through
Encryption. High-Performance Computing (HPC) applications also
leverage SDS for enhanced performance. Exxact Corporation and
FalconStor's partnerships are examples of industry collaborations
driving SDS innovation.
Market Research Overview
The Software-Defined Storage (SDS) market refers to a modern
approach in building and managing storage infrastructure where
intelligence is decoupled from hardware and applied through
software. SDS solutions provide flexibility, scalability, and
efficiency by enabling the pooling of physical storage from various
sources and presenting it as a unified, logical storage system.
This technology allows organizations to easily manage their storage
resources, automate storage provisioning, and improve data
protection. SDS also supports various protocols and interfaces,
making it compatible with diverse applications and environments.
The adoption of SDS is driven by the increasing demand for agile
and cost-effective storage solutions in today's data-intensive
world.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- BFSI
- Telecom And IT
- Government
- Healthcare
- Education And Others
- Component
-
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/software-defined-storage-sds-market-size-is-set-to-grow-by-usd-105-07-billion-from-2024-2028--surge-in-cloud-adoption-boost-the-market-technavio-302180183.html
SOURCE Technavio