Global Software-Defined Storage Market to Grow at a CAGR of 30% During 2024-2032, Aided by Rising Startup Culture

The market is being driven by the rising adoption of cloud technology. Software-defined storage solutions play a crucial role in addressing data management challenges in cloud computing. It also facilitates on-site and cloud storage devices, enabling centralised management of various storage devices.

A booming startup culture, along with a flexible working culture across big and small organisations, is supporting the software-defined storage market growth. There are over 150 million startups worldwide and about 50 million new startups are launched every year, globally.

A rising number of startups, aided by government initiatives and strengthened ease-of-doing-business policies, is accelerating the acceptance of cloud solutions. Enterprises are turning to the cloud due to various advantages, like cost reduction, scalability, and enhanced efficiency, surging the requirement for software-defined storage.

In addition, growing innovation and collaboration in the field are strengthening the market. For example, in October 2023, Dell Technologies updated its PowerFlex software-defined infrastructure platform, PowerFlex 4.5, with a focus on data centre storage consolidation. This update offers an extended range of supported operating systems (OS), improved alert reporting, and unified storage pool management within a single namespace.

Moreover, rising mergers and acquisitions by key players are also revolutionising the market. For instance, in October 2022, IBM merged the Red Hat Storage software portfolio with IBM Storage to create a comprehensive storage software portfolio. IBM invested in open-source-based CEPH as the foundation for its software-defined storage platform.

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Market Breakup by Type, Component, Solutions, Usage, Platform, End-Use and Region:

• The market, based on type, is divided into block, file, object, and hyper-converged infrastructure software.

• On the basis of component, the market can be divided into solutions and services.

• By solutions, the market can be classified into data management, data security and compliance software, software-defined storage controller software, software-defined storage server, and storage hypervisor, among others.

• Based on usage, the market is segmented into data backup and disaster recovery, surveillance, and storage provisioning, among others.

• The market, on the basis of company size, is bifurcated into small and medium enterprises and large enterprises.

• By platform, the market is segmented into web applications, mobile applications, and devices.

• On the basis of end use, the market can be divided into, BFSI, healthcare, education, telecom, media and entertainment, and manufacturing.

• Region-wise, the global market for software-defined storage can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The software-defined storage market growth can be attributed to the increasing adoption of cloud technology by organisations.

• There is an increasing deployment of software-defined infrastructure by businesses to enhance their flexibility, offer a balance between performance and costs, and provide time-saving benefits.

• The surging number of start-ups and a rising adoption of flexible work culture by organisations of all sizes are aiding the market demand for software-defined storage.

• The modernisation of IT infrastructure, the increasing adoption of automation, and the surging generation of unstructured data are positively influencing the market.

Key Offerings of the Report:

• The EMR report gives an overview of the global software-defined storage market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, components, solutions, usage, company sizes, platforms, end uses, and major regions of software-defined storage.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global software-defined storage market are Dell Technologies Inc., Fujitsu Limited, International Business Machines Corporation, Citrix Systems, Inc., NetApp, Inc., Seagate Technology PLC, and Hewlett Packard Enterprise Co, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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