Latest News- Software-Defined Storage (SDS) Market: BFSI is expected to lead the End-user segment during 2025-2029

The Software-Defined Storage (SDS) Market is being driven by Surge in cloud adoption

The Software-Defined Storage (SDS) Market is expected to grow at a CAGR of 43.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 176842.3 million. Hyper-converged infrastructure (HCI), a subset of software-defined storage (SDS) market, offers businesses a unified, virtualized solution that integrates computing, storage, networking, and management functions. By consolidating these elements, HCI eliminates the need for multiple systems and enhances resource utilization. Additionally, it optimizes data center space and reduces power consumption, resulting in increased agility, speed, and efficiency. Ideal for small and medium-sized enterprises, HCI's centralized management simplifies IT operations, eliminating manual processes and siloed expertise, thereby increasing overall IT efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • BFSI
  • Telecom and IT
  • Government
  • Healthcare
  • Others
• Component
  • Solution
  • Services
• Sector
  • SME
  • Large enterprise
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Surge in cloud adoption
• Increasing data center investments and data center modernization
• Low operational expenditure and simplified management

However, the market also witnesses some limitations, which are as follows:

• High costs associated with software-defined storage
• Increasing cyberthreat landscape
• Implementation challenges

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Market Scope in Software-Defined Storage (SDS) Market Research Report

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Research Analysis Overview

Software-Defined Storage (SDS) market is witnessing significant growth due to the digital transformation in various sectors like BFSI, Telecom, and Healthcare. Exponential data growth from AI, IoT, and Big Data management in the digital economy is driving the demand for scalable and cost-effective SDS solutions. Companies like Exxact Corporation offer container-native and hyper-converged technology for data center solutions, providing automation capabilities for data management, protection, and consolidation. AI technologies are integrated for customer data analysis and data security. The cloud storage and HPC industries also benefit from SDS for disaster recovery and high-performance requirements. Emerging economies are adopting SDS for data center modernization and storage costs reduction. Government applications and the healthcare sector also leverage SDS for data security and virtualization technology. SDS solutions enable automating process controls and data management for enterprise needs.

Market Research Overview

The Software-Defined Storage (SDS) market is a significant segment within the expansive IT services industry. This market specifically focuses on companies providing AI-driven, automated process control solutions for Business Processing Firms in the BFSI sector, enhancing their cloud storage capabilities. Technavio's market analysis encompasses revenue generated by these companies, offering SDS technology and related services, within the broader global Internet services and infrastructure market. This market includes providers of data centers, cloud networking and storage infrastructure, hosting services, IT security services, and cloud computing services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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