Storage Software Market size was valued at USD 26.13 billion in 2023 and is likely to cross USD 64.52 billion by the end of 2036, registering more than 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of storage software is estimated at USD 27.64 billion.
The growing volume of unstructured data, along with the increasing consciousness among organizations for storage virtualization are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as proliferation of internet of things (IoT) across the world which has increased the data generated at the edge considerably. It is estimated that more than 72% of the global enterprises will shift to cloud storage from on-premise data centers, by 2022.
Author Credits: Abhishek Verma
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