Global Software Defined Storage SDS Market

Software Defined Storage SDS Market Size, Share, Growth Analysis, By Type(block, file), By End user(banking, finance), By Software(SDS server, Data security and compliance software) - Industry Forecast 2024-2031

Report ID: SQMIG45I2063 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 93 | Figures: 76

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Software Defined Storage SDS Market size was valued at USD 16.25 billion in 2022 and is poised to grow from USD 20.44 billion in 2023 to USD 128.23 billion by 2031, at a CAGR of 25.80% during the forecast period (2024-2031).

Major players in the software-defined storage market include IBM Corporation, Oracle Corporation, NetApp Inc., and others. The market's key players are constantly innovating new products and increasing activities such as mergers and acquisitions and capacity expansion, which increases competition. 'Dell EMC', 'Hewlett-Packard Enterprise', 'IBM Corporation', 'VMware, Inc.', 'Cisco Systems, Inc.', 'NetApp, Inc.', 'Red Hat, Inc.', 'Fujitsu Limited', 'Western Digital Corporation', 'Seagate Technology PLC', 'Hitachi, Ltd.', 'DataCore Software Corporation', 'Nexenta Systems, Inc.', 'Scality, Inc.', 'SwiftStack, Inc.', 'Ceph', 'Quobyte, Inc.', 'Nutanix, Inc.', 'SUSE LLC', 'Maxta, Inc.'

BFSI's growing need for better data management contributes a sizable share of the software-defined storage market. The BFSI sector is expected to grow the fastest during the forecast period, owing to increased demand for customer data analysis to gain a competitive advantage and accelerate the sector's ongoing digital transformation.

BFSI's growing need for better data management contributes a sizable share of the software-defined storage market. The BFSI sector is expected to grow the fastest during the forecast period, owing to increased demand for customer data analysis to gain a competitive advantage and accelerate the sector's ongoing digital transformation.

North American region is expected to dominate the Software Defined Storage Market. North America is expected to have the largest market share. This is due to a variety of factors, including increased cloud adoption, a shift toward advanced IT infrastructures, and others. Rapid industrialization, increasing cloud-based infrastructure usage, and R&D investments from leading market vendors such as NetApp Inc., IBM Corporation, VMware Inc., and others are some of the major drivers propelling market growth in this region. North America is the fastest-growing market and is expected to be the largest by the end of the estimated period due to increased demand for smart safety devices and the presence of major players in this region such as NetApp and Dell.

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Global Software Defined Storage SDS Market

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