Software Defined Storage Market – North America to Lead Global Market due to Higher Acceptance of Technology

The global software defined storage (SDS) market is expected to become highly competitive in the upcoming years, says Transparency Market Research in a recently published report. Such a cutthroat competition will mainly result from large investments by businesses to improve technologies, in order to outgun their rival companies. Mergers and acquisitions and collaborations, are some of the strategies implemented by most businesses in the global software defined storage (SDS) market in order to tap into new markets spread across geographies.

VMWare, Inc., Dell EMC, Oracle Corporation, Microsoft Corporation, NetApp, Inc., Hewlett-Packard Enterprise, and International Business Machines Corporation are some of the key players in the market.

As per our expert analysts at TMR, the global software defined market is expected to attract a valuation of US$48.18 bn until the end of 2025. The market which was valued at US$4.86 bn in 2016, will likely see such as stellar increase in value by clocking a phenomenal 29.2% CAGR from 2017 to 2025.

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The global software defined storage market is mainly divided into several segments based on four criteria: usage, software, end user, and geography. Under end users, the BFSI industry is anticipated to hold a leading share in the market, with a rising awareness about reliable back-up data plans. The Geographically, the global software defined storage market can be divided into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Of these, North America rakes in maximum revenue due to presence of a key vendors in the region and high awareness of the market-based services among the masses.

According to the comprehensively detailed report, the software defined storage market is mainly driven by the several benefits provided by this type of storage, as compared with other technological methodologies. Some of these benefits are: less energy processed, less cost needed to build data centers, and operational ease. Mammoth data volumes produced by industrial and governmental sectors is also expected to boost the global software defined storage market.

Computers exist in most modernized households, urban locations, and manufacturing companies and industries. Such a rapid rise in the number of computing systems is a crucial factor to raise the global software defined storage market’s growth graph. Regular improvements in software programs with respect to ease of learning and use, along with a change in computing powers to gain high operational speeds, is also proving beneficial to the software defined storage market.

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In opposition to these driving factors, there are many hindrances having a negative effect on the global software defined storage market. A prominent obstacle involves high costs required for the initial setup of the programs and other operation-based processes. However, this situation is soon expected to witness a change with better product innovations aimed at reducing the cost factor in future.

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Software Defined Storage Market: Shift to Cloud-based Infrastructure Generates Unprecedented Demand

Transparency Market Research (TMR) states that the global software defined storage market is likely to witness intense competition as vendors are working on developing better technologies. Some of the leading players in the global market are VMWare, Inc., Dell EMC, Oracle Corporation, and Microsoft Corporation. These companies are expected to expand their geographical reach in the coming years as developing countries are likely to offer lucrative opportunities. Furthermore, investment in research and development along with mergers and acquisitions will also be some of the key strategic moves adopted by these companies.

According to the research report, the global software defined storage market is likely to be worth US$48.18 bn by the end of 2025 from US$4.86 bn in 2016. During the forecast years of 2017 to 2025, the global market is projected to progress at a CAGR of 29.2%. The data security software segment is expected to lead the global market as it is likely to register a whopping CAGR of 30.3% over the forecast period. In terms of geography, Asia Pacific is estimated to emerge as the leading regional market. The report estimates that it will rise at a CAGR of 31.1% between 2017 and 2025.

Copious Amount of Data Augments Demand for Software Defined Storage

Data has become an integral part of everyday life and its generation is expected to rise at an exponential rate due to the accelerated penetration of the internet. The growing uptake of information detecting devices such as cameras, software logs, microphones, mobile devices, and frequency identification has led to an unprecedented rise in data. Furthermore, advent of big data analytics and usage of virtualization technologies has augmented the demand for software defined storage. Today, virtual technologies are extensively used in various organizations to reduce the cost of resources while offering excellent services. Thus, the introduction of cloud computing is expected to support the growth of the global software defined storage market in the coming years. In the coming years, software defined storage solutions will remain in demand as they cater to the immediate needs of modern network environment.

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Several organizations are increasingly shifting towards a cloud-based infrastructure in order to achieve higher level of efficiency in networking, computing, and storing the data with the help of cloud services. Analysts anticipate that the demand for cloud services will continue to be on the rise as they offer immense flexibility. As software defined storage allows a strong foundation for hybrid cloud models, its global market is likely to receive a significant impetus in the near future.

Challenges with Interoperability become a Threat to the Global Market

Despite the strong market drivers, the global software defined storage market is likely to be challenged by a few factors. Presently, the global market has to compete with existing storage platforms. Software defined storage involves APIs and standard protocols for which it cannot operate on different kinds of network infrastructure. Thus, issues related to interoperability are expected to dissuade the global market.

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