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(IT-NEWSWIRE.COM, November 14, 2019 ) Market Overview
• Software-defined storage is an approach to data management in which data storage resources are abstracted from the underlying physical storage hardware and are therefore more flexible. Resource flexibility is paired with programmability to enable storage that rapidly and automatically adapts to new demands.
• SDS is penetrating IT infrastructures to meet the needs of the next-generation datacenter. As companies transform their businesses and move operations to the cloud, they are adopting SDS for greater agility, reduced costs, and greater operational efficiency.
• The report covers all the major trends and drivers playing a vital role in the growth of the global SDS market. The market has been segmented based on region, type, and application.
Market Dynamics
• Organizations that need to accommodate the huge surge in data growth, and do so at an affordable price, are turning to SDS.
• The booming volume of unstructured data across various enterprises augments the demand for a scalable storage architecture that is reliable and secure. In addition to this, with the proliferation of IoT across the world, the data generated at the edge is also rapidly increasing. SDS can separate storage software from hardware, thus cutting down on storage costs, in terms of capital cost and operation expenditure. Hence, enterprises are slowly shifting toward software-defined storage. Moreover, increasing adoption of cloud solutions enables developers to adopt Agile workflows, significantly reducing lead times in testing and deploying new products and releasing product updates. As a public cloud user, organizations aren’t responsible for managing cloud hosting solution. The cloud service provider is responsible for the management and maintenance of the data center(s) in which the data is stored. Thus, the increasing adoption of cloud solutions will fuel the growth of the software-defined storage market during the forecast period.
• However, the lack of skilled operators to manage the transition toward SDS and security concerns are projected to hinder the growth of the market studied.
Market Segmentation
• By application, the global SDS market is segmented into BFSI, Telecommunications and ITES, Government and Public sector, and Others. In 2018, BFSI and Telecommunications and ITES segments held more than 70% market share in the global SDS market. The BFSI industry vertical deals with large volumes of sensitive and private financial data. The enterprises in BFSI are demanding for security policy management solutions to ensure irreversible security. Moreover, BFSI vertical is the most regulated, as it has to comply with many security requirements. Therefore, BFSI segment is expected to witness highest CAGR over the forecast period.
• However, increasing demand for enhanced storage solutions will also boost the demand for software-defined storage from the telecommunications and ITES segment. The adoption of software-defined storage will help telecom and IT service providers in terms of deployment, scalability, management, and cyber-security.
• By type, the global SDS market is segmented into block, file, object, and hyperconverged. Hyperconverged is anticipated to witness highest CAGR over the forecast period. The rising use of hyper-converged technology is one of the critical software defined storage market trends. Hyper converged infrastructure runs storage, compute, and networking systems in a virtualized environment to enhance resource utilization. The reduced power consumption and space optimization offered by hyper converged infrastructure will also help in increasing the agility, speed, and efficiency of data centers.
Regional Analysis
• By geography, the global SDS market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
• In 2018, North America accounted for the largest market share. However, APAC is expected to witness a higher CAGR than other regions during the forecast period. North America is a matured market in terms of technology adoption, due to various factors, such as standards, regulations, advanced IT infrastructure, the presence of a large number of enterprises, and the availability of proficient technical expertise. Therefore, North America is expected to grow at a steady and maintain its dominant position in the global market over the forecast period.
• Asia-Pacific is exceptionally overshadowing other regions in terms of adoption of the online transaction due to its large population base and shift from traditional to digital payment platforms coupled with rising internet penetration in the region. This has resulted in generation of massive amount of data which had to be processed and analyzed. Therefore, driving the need for software-defined storage solutions to boost their process performances.
Competitive Analysis
• Global SDS Market is moderately concentrated with the presence of global and regional players in the market. Some major players in the market are Cisco Systems, Inc., Dell Technologies Inc., Hewlett Packard Enterprise Development LP, IBM Corp., NetAPP Inc., IBM Corporation, EMC Corporation, Hitachi Data Systems, VMware, Inc., Amplidata Inc., FalconStor, Nexenta Systems, Inc., and among others. These players have adopted various strategies, such as new product/service developments, mergers and acquisitions, collaborations, and partnerships, to expand their presence in the global SDS market. Major players with prominent shares in the market are leveraging on strategic collaborative initiatives to increase their market shares and profitability.
• For instance, FalconStor, a prominent US-based vendor, which offers SDS in China through Huawei, reported that customers/enterprises across Asia, such as China, are one of the largest potential markets for IT services and are positive about shifting to new storage. The propensity to shift was mainly to meet challenges, like data protection, recovery, and integration of virtual and non-virtualized resources.
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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