Software Defined Storage Market Size, Share & Trends Analysis growing at a CAGR of 27.9% from 2024 to 2030

The global software defined storage market size was estimated at USD 38.43 billion in 2023 and is projected to reach USD 201.98 billion by 2030, growing at a CAGR of 27.9% from 2024 to 2030. The increasing amount of data generated and utilized by businesses in different industries, the rise in cloud storage options, and the improved utilization of resources, which result in enhanced data reliability and scale, are the key growth drivers for the software defined storage (SDS) market.

Key Market Trends & Insights

• The North America dominated the global market with a revenue share of 37.0% in 2023.
• The U.S. Software Defined Storage market dominated the regional industry in 2023.
• Based on the components, the SDS solutions segment dominated the global market and accounted for a share of 63.3% in 2023.
• Based on organization size, large enterprises segment dominated the global industry for software defined storage market in 2023.
• By deployment, the on-premises deployment segment accounted for the largest revenue share in 2023.

Market Size & Forecast

• 2023 Market Size: USD 38.43 Billion
• 2030 Projected Market Size: USD 201.98 Billion
• CAGR (2024-2030): 27.9%
• North America: Largest market in 2023

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SDS assists in managing complex networks by efficiently monitoring resources and data traffic. The enormous growth in the digital transformation of businesses, a growing need for sophisticated storage solutions, and enhanced security requirements are expected to generate an upsurge in demand for this market during the forecast period.

The increasing adoption of hyper-converged infrastructures (HCI) is leading to combining the capabilities of storing, networking, and computing data into a unified system. The rising demand for cost-effective solutions in data management and the growing emergence of software-defined strategies are contributing to the growth of this industry. The transformation from a traditional mode of data handling to a digital platform has also led to the development of this market in recent years.

The development of software-defined storage solutions is expected to witness remarkable growth, owing to the worldwide expansion of technological advancement in multiple industries focusing on implementing software-defined networks and storage systems to enhance robustness and agility. SDS’s ability to reduce network trafficking, time and cost savings, and adaptability in infrastructure has developed greater demand for it, primarily in the telecommunication industry.

Component Insights

Based on the components, the SDS solutions segment dominated the global market and accounted for a share of 63.3% in 2023. This is attributed to enhancements in computing power, storage capabilities, and cloud solutions provided by these solutions to organizations and institutes. These solutions include storage virtualization, replication, provisioning, and orchestration. Moreover, the capacity to collect data offers immediate analysis and results in quick decision-making. Growing dependability on data, increasing need for data reliability, and unceasing penetration of computing technologies are expected to generate growth for this segment in the approaching years.

The SDS services segment is expected to experience the fastest CAGR during the forecast period. SDS services include consulting, implementation and integration, support, and maintenance. The SDS market offers various services such as automation, cloud integration, simplified data management, AI and machine learning, data security, and governance. These services help reduce operational complexities and enhance the organization’s overall efficiency.

Software Defined Storage Market Report Scope