The global Software-Defined Storage market is estimated to grow from USD 4.72 Billion in 2016 to USD 18.5 Billion by 2022, with a CAGR of 27% by the end of the forecast period.
In this fiercely competitive environment, organizations have started paying concentrating on modern technology to have a cutthroat edge over their opponents. By the utilization of SDS, this assists in reducing the cost by automating process controls and by replacing the traditional hardware by software.
Software-define storage is a central part of the software-defined data center and is an upcoming information technology (IT). It has been designed for enterprises to collect business data and implement the on-time delivery of IT services. The expansion of the Software-defined storage market is upsurge by the adequate and efficient management of unstructured data, whereas the assimilation of several analytics solutions with the Software-define storage solutions for big data management amends the price and assists to propel the business.
The market of Software Defined Storage Market appears to be fiercely cut-throat. To maintain and establish their market position and to drive the market expansion, several compelling and varied international enterprises, domestic organizations and as well as new entities create a competitive environment. Market leaders are innovating constantly and continuously achieving market growth through several strategic innovation and unique ideas, economic product portfolio, mergers and acquisitions, increased expense for research and development. Major competitors are spending immensely on acquiring other firms and internal research and development.
Software-Defined Storage Global Market Segmentation
The Software-Defined Storage Market can be segmented into 6 important segments. The segmentation is on the basis of region, end-user, organization size, usage, software, and component.
On the basis of region, the market can be classified into Europe, Asia Pacific, North America and the Rest of the World (RoW).
On the basis of end-user, the market can be classified into Banking, Financial Services, and Insurance (BFSI), Comprises Education, Media, and entertainment, Logistics, and warehouse, Comprises Education, and others.
On the basis of organization size, the market can be classified into large enterprises and Small and Medium Businesses.
On the basis of usage, the market can be classified into Storage provisioning and high availability, Comprises Surveillance, Data backup and disaster recovery, and others.
On the basis of software, the market can be classified into data management and storage hypervisor, Comprises SDS server, SDS controller software, compliance software, data security, and others.
On the basis of components, the market can be classified into Platforms/Solutions (Data Security Compliance, Data Management, Software-Defined Server, Controller, and Hypervisor) and Services among others.
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The Software-Defined Storage market can be classified into four regions which include Asia Pacific, North America, Europe, and the Middle East and Africa (MEA).
North American market is appearing as the fastest expanding market and is estimated to be the largest market by the end of the review period owing to the rising demand of smart safety devices and also due to the major competitors in the North American region like Dell and NetApp. The North American market is followed by Europe and the Asia Pacific as the second largest and the third-largest market for Software-Defined Storage solutions. The increase in demand for intelligent safety devices can propel the expansion of the North American market.
The distinguished players in the market of software-defined storage market are SwiftStack(USA), EMC(UK), NetApp(US), IBM(US), Juniper Networks, Arista Networks(US), HP(US), Ericsson(Sweden), Big Switch Networks(USA), Brocade(US), NEC(US), VMware(US), 6Wind(France), Cisco(US), Avaya(California), and others.