Software Defined Storage SDS Market Size, Share, Growth Analysis, By Type(block, file, object, or hyperconverged. SDS server), By End user(banking, finance, and insurance.), By Software(SDS server, Data security and compliance software, SDS controller software, Data management), By Region - Industry Forecast 2024-2031

Global Software Defined Storage SDS Market size was valued at USD 16.25 billion in 2022 and is poised to grow from USD 20.44 billion in 2023 to USD 128.23 billion by 2031, at a CAGR of 25.80% during the forecast period (2024-2031).

SDS stands for simple defined storage. The demand for software-defined storage solutions is expected to skyrocket due to advantages such as data storage management on cloud-based platforms. The global demand for SDS solutions is being driven by the need to control rising data centre storage and infrastructure development costs. The ever-increasing rate of data generation contributes to the demand for effective data storage management solutions. Enterprises around the world are emphasising the adoption of software-defined networks and storage systems to provide businesses with robustness and agility.

Software-defined storage is especially popular among telecommunications providers because it reduces network congestion, allows for greater flexibility in network infrastructure, and saves time and money. Software-defined Storage (SDS) is a new technology that is gaining traction in the enterprise storage market. SDS may separate storage software from hardware, lowering storage costs in terms of capital and operating expenses. As a result, enterprises are gradually shifting toward software-defined storage.

US Software Defined Storage SDS Market  is poised to grow at a sustainable CAGR for the next forecast year.