Consumer Insights and Preferences in the Software Defined Storage Market
Software Defined Storage Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Software Defined Storage Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The software defined storage (SDS) market, which separates storage software from hardware to provide flexible and scalable data storage solutions, has experienced exponential growth. From $22.05 billion in 2023, the market is projected to grow to $27.89 billion in 2024, showcasing a compound annual growth rate (CAGR) of 26.4%. It will grow to $70.55 billion in 2028 at a compound annual growth rate (CAGR) of 26.1%. This growth is driven by the escalating volume of data across enterprises and increasing adoption of technology to enhance data management and integrate with cloud environments.
Rapidly Growing Volume of Data Drives Market Growth
The rapidly growing volume of data is a significant driver for the software defined storage market. With digitization expanding across various sectors, there's a continuous generation and collection of digital information. SDS enables efficient management and virtualization of large data volumes, offering scalability and adaptability for modern storage needs. Organizations utilize SDS to meet increasing data volumes and performance requirements while reducing upfront hardware costs and administrative complexity compared to traditional storage systems.
Explore the global software defined storage market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=14502&type=smp
Key Players and Market Trends
Leading companies such as Microsoft Corporation, Dell Inc., and Huawei Technologies Co. Ltd. are focusing on innovative technologies to maintain their competitive edge. For instance, Viking Enterprise Solutions launched Cloud Native Obsidian (CNO) in April 2022, an on-premise storage solution leveraging cloud-native technology for enhanced data control and management.
Market Segments
•Component: Management And Monitoring Tools, Networking Infrastructure, Software Controllers, Storage Devices
•Size Of Enterprise: Small And Medium Enterprise, Large Enterprise
•Usage: Data Backup And Disaster Recovery, Surveillance, Storage Provisioning, Other Usage
•End-User Industries: Banking, Financial Services And Insurance, Telecommunication And Information Technology (IT), Government, Other End-User Industries
Geographical Insights: Asia-Pacific Leading the Market
North America dominated the software defined storage market in 2023, while Asia-Pacific is expected to emerge as the fastest-growing region in the forecast period. Detailed insights into regional dynamics and growth opportunities are available in the comprehensive report.
Access the complete report for an in-depth analysis of the global software defined storage market: https://www.thebusinessresearchcompany.com/report/software-defined-storage-global-market-report
Software Defined Storage Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Software Defined Storage Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on software defined storage market size, software defined storage market drivers and trends, software defined storage market major players, competitors' revenues, market positioning, and market growth across geographies. The software defined storage market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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