The global software defined storage market is likely to witness momentous growth in coming years owing to rapid growth of data volume across enterprises and increasing need for optimization in data management. Software-define storage (SDS) is an important part of software-defined data center designed for enterprises to store business information and enable fast delivery of IT services. Integration of different data analytics solutions with SDS helps in optimizing cost and organizing the un-organized information collected by organization to enable business intelligence. Rapid digitization across organizations is also expected to increase adoption of SDS due to its benefits over conventional techniques. This storage type automates the process control instead of manual configuration, which is essential in traditional system.
Increasing demand for data security and compliance software across organizations is expected to boost the market growth. Companies are required to follow the specified guidelines to store and share data for securing important information. High demand for security and compliance constraints in existing solution at the time of storing information has augmented the demand for effective SDS controller software. Growing need for effective support and maintenance is likely to increase its adoption among enterprises. Moreover, need for avoiding downtime of storage infrastructure is expected to present numerous opportunities in the market. For instance, Red Hat, Inc., a leading provider of open source solutions, announced availability of Red Hat Storage One, a new method to web-scale enterprise storage. It aims at providing convenience of hardware-optimized systems while maintaining flexibility and scale. The solution is designed to offer a plug-and-play approach to deployment and performance tuning of SDS to meet the variable demands of modern workloads.
However, lack of skilled professionals for effective deployment of SDS infrastructure is likely to restrict the market growth. In addition, issues related to reliability and security in virtual cloud storage is also expected to emerge as a challenge in the market.
A wide range of applications, such as banking, financial services, and insurance (BFSI), education, government, telecom and IT, healthcare, manufacturing, and media and entertainment are associated with the market. Telecom and IT is a leading application in the market owing to growing demand for effective management of increasing data volumes among organizations. BFSI is also expected to emerge highly lucrative in coming years on account of increasing need for analyzing customer data. In addition, SDS solution offers enough time to analyst for planning and managing their information in accordance with changing government norms.
North America is a prominent region in the market owing to high demand for smart safety devices and presence of key companies in the region. In addition, increasing number of data centers and growing need for cost-effective alternatives are expected to augment the market growth in future.
Asia Pacific is anticipated to witness significant in the coming years owing to continuous technological developments and rising number of IT companies in the region. Growth of small and medium businesses (SMBs) in the region is also expected to fuel the market growth in future. These solutions help in reducing storage cost and accomplishing improved business function.
Some of the leading companies operating in the software defined storage market are Dell Inc.; F5 Networks Inc.; Commvault Systems Inc.; Brocade Communications Systems Inc.; and IBM. Companies are adopting advanced technology in order to gain a competitive edge in the market. For instance, Nexenta, a provider of OpenSDS, recently introduced NexentaCloud, a novel product of cloud native storage solutions, enabling user to extend the numerous benefits onto the cloud. NexentaCloud for Amazon Web Services (AWS) provides a data storage solution that supports business-critical functions, such as self-service test/development and business continuity, and offers features, such as cloning, snapshots, and data compression.
