Storage Software Market Analysis

The storage software market is segmented based on software type into storage replication, archiving, software defined storage and others, out of which, the software defined storage segment is anticipated to grab the largest share by the end of 2021 on account of its multiple usage and capacity of storing data independently of the hardware platform. Moreover, software defined storage provides greater flexibility, efficiency and faster scalability to use the storage resources, which is also projected to contribute to the growth of the segment during the forecast period.

On the basis of end-user type, the BFSI segment in the storage software market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that financial organizations require highly secure and highly available storage capabilities to scale up with appliances that link together across sites.

Our in-depth analysis of the global market includes the following segments:

By Software Type	Storage Replication Archiving Software Defined Storage Others
By End-User Type	BFSI Government Telecom & IT Others

Frequently Asked Questions (FAQ)

The growing volume of unstructured data and the increasing consciousness among organizations for storage virtualization are the key factors driving market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

Rising concerns about data privacy and governance and shortage of skilled manpower to manage the transition towards storage software technology are estimated to hamper market growth.

The market in Asia Pacific region will provide ample growth opportunities owing to the rising demand for automation in the countries of the region.

The major players dominating the storage software market are Red Hat, EMC, IBM, and NetApp among others.

Storage Software Market Analysis