The vendor landscape of the global software defined storage (SDS) market is likely to become intensely competitive in the next few years as companies invest more resources on the development of better technologies to outpace peers, states Transparency Market Research in a recent report. Expansion of geographical bases, strategic collaborations, and mergers and acquisitions as a way of consolidating the market and strengthening their positions in the global market are some of the key strategies adopted by leading vendors to ensure profitable returns.
Some of the leading players in the global software defined storage market are Microsoft Corporation, VMWare, Inc., Oracle Corporation, and Dell EMC.
Transparency Market Research estimates that the market will exhibit an exceptional CAGR of 29.2% over the period between 2017 and 2025, rising from a revenue valuation of US$4.86 bn in 2016 to US$48.18 bn by the end of 2025.
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Software defined storage marketData Security Software to Take Precedence in Future Years
In terms of the key varieties of software products used, the segment of data management is presently the leading contributor of revenue to the global market, accounting for a massive 32.4% of the overall market in 2016. Over the forecast period, however, the segment of data security will see the maximum traction, exhibiting a 30.3% CAGR.
From a geographical standpoint, the market in Asia Pacific takes the second spot in terms of market share but has the most promising growth prospects in the future years. The regional market will benefit from the massive rise in digitization across a number of industries and register a CAGR of 31.1% between 2017 and 2025.
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Mounting Volumes of Data Produced to Compel Industries to Adopt SDS Solutions
The report states that the many benefits provided by software defined storage in comparison with conventional technologies, such as reduction in energy and cost required to setup data centers, will be the key factor fueling the market. The copious volumes of data produced by industrial and government sectors will also drive the demand for effective SDS solutions.
Given that computers are present in every corner of the world and their computing powers are increasing at rapid rates, the market for software products has also observed a strong growth trend over the past few decades. The large amount of data produced by the enterprise, domestic, and government sectors demands effective data management capabilities and reliable software products that can store the mounting volumes of data effectively. This is driving the demand for effective software defined software solutions globally.
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The market for software defined storage covers software services such as data protection, data placement, data management, and the capabilities of input/output of data according to the underlying infrastructure of data storage.
These software services help in efficiently managing the scalability, flexibility, and automation of data storage facilities, thus helping enterprises reduce the costs of enterprise data storage. The market for SDS is an important segment of the software defined data center (SDDC) market, and is gaining heightened popularity among many enterprises across the globe as the SDS technology is known to enhance data storage infrastructure’s virtualization properties such as abstraction, automated management, and resource pooling.
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