Market Overview

The Software-Defined Storage Software Market was valued at USD 9.4 billion and is expected to reach USD 37.24 billion, at a CAGR of 25.8% over the forecast period. Software-defined Storage (SDS) is one of the new technologies trending in the enterprise storage market. 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.

– 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.
– The SDS model addresses these needs by increasing deployment flexibility and enabling organizations to use the software with any storage platform through a single software interface.
– Enterprises or IT organizations undergoing digital transformation are likely to adopt SDS for their data storage needs, owing to the advantages that this technology offers, over the traditional storage methods. 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.

Scope of the Report

The scope of the study for the software-defined storage market is limited to the type of storage solution offered by the vendors for both SMEs and large enterprises. The study has also considered the application of the software-defined storage solution in a wide range of end-user industries and the after-sales services is not considered for market estimation.

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Key Market Trends

BFSI Sector to Witness Significant Growth

– Financial organizations require highly secure and highly available storage capabilities to scale up and out, with appliances that link together across sites. The software-defined storage solutions help in improving BFSI operations, including handling massive data sets, limited accesses to files with encryption, and even data backup and recovery.
– In 2017, Bank of America spent USD 300 million, as it switched to software-defined infrastructure while getting rid of three data centers. As part of a project called Project Greenfield, the American bank moved 20,000 workloads onto its software-defined infrastructure, to bring down costs per workload. With the number of such used cases on the rise,  the market is expected to grow at a significant rate over the forecast period.
– With the increase in the digital economy, data is everything. software-defined infrastructure and storage solutions are enabling global banks to access, analyze, and share data on-premises rapidly and in the cloud from front-to-back office operations. PayPal has declared that there has been a growth of over 46% in the annual payment volume in the year 2018 from the previous year reaching USD 227 billion.
– It is also stated in the world payment report 2018 that, non-cash transactions has reached 482.6 billion in 2016, which is 9.8% growth since 2012 and is expected to follow the growing trend in the forecast period. Moreover, with data centers expected to reduce costs significantly, as directed by the US federal government, the adoption of the SDS is expected to increase even further.

Asia-Pacific Region to Witness Fastest Growth

– Asia-Pacific is exceptionally overshadowing other regions in terms of adoption of the online transaction. According to RBI, the mobile payment transaction volume increased by about USD 10 billion in the year 2018. This factor in resulting in generating massing amount of data only through the daily transactions which companies have to process driving the need for software-defined storage solutions to boost their process performances.
– 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.
– With the drastic operational transmission is taking place towards cloud services and solutions in the region, the market for software-defined storage has growth opportunity in the region for performance optimization and improving the end-user company’s cost-effectiveness. Also, Cisco systems stated that cloud traffic is expected to reach 3469 exabytes per year by 2021, which is the region with the heaviest cloud traffic after North America.

Competitive Landscape

The market trend for software-defined storage is towards consolidation with the dominance by the major players like IBM and Red Hat, as the barrier for entry into the market is high due to high capital cost is involved for the companies to offer this storage solution from the inception. But companies who are already offering cloud storage solutions are entering the software-defined storage market. The market is expected to follow a similar trend during the forecast period 2019 – 2024.

– May 2019 – SuSe Inc. introduced SUSE Enterprise Storage 6, the latest release of its software-defined storage solution. The company claims that it enables IT organizations to seamlessly adapt to changing business demands while reducing IT operational expense with new features focused on containerized, cloud workload support, improved integration with public cloud and enhanced data protection capabilities.
– Apr 2018 – Red Hat Inc., provider of open source solutions, announced plans to provide the convenience of hardware-optimized systems to its customers, while preserving the flexibility and scale of software-defined storage, through Red Hat Storage One.

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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in IT Cost Reduction, Automation, and Infrastructure Flexibility Needs
4.2.2 Booming Volume of Unstructured Data
4.3 Market Restraints
4.3.1 Lack of Skilled Operators
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Block
5.1.2 File
5.1.3 Object
5.1.4 Hyper-converged Infrastructure
5.2 By Size of Enterprise
5.2.1 Small and Medium Enterprise
5.2.2 Large Enterprise
5.3 By End-user Industries
5.3.1 BFSI
5.3.2 Telecom and IT
5.3.3 Government
5.3.4 Other End-user Industries
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Oracle Corporation
6.1.3 NetApp Inc.
6.1.4 Huawei Technologies Co. Ltd
6.1.5 Fujitsu Limited
6.1.6 Genetec Inc.
6.1.7 VMWare Inc. (Dell Inc.)
6.1.8 Hitachi Data Systems AG
6.1.9 Pure Storage Inc.
6.1.10 Promise Technology. Inc.
6.1.11 FalconStor Software, Inc.
6.1.12 StarWind Software Inc.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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