(2023-2028) Storage Software Market Share, Demand Analysis, Top Companies, Size and Forecast Report

According to the latest report by IMARC Group, titled "Storage Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," The global storage software market size reached US$ 24.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.

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Storage Software Market Overview:

Storage software refers to an application-based storage architecture that manages storage on a data center, private cloud, or virtualization platform. It includes various features, such as data backup and recovery, data compression, data deduplication, data encryption, data tiering, data replication, and data archiving. It is required to monitor and manage existing data storage needs while predicting future requirements. It ensures data availability, integrity, and reliability, while also optimizing storage utilization and performance. Additionally, it enables businesses to effectively manage their data, reduce storage costs, and ensure data security and compliance. Consequently, it is widely employed across numerous industry verticals, including retail, manufacturing, banking, financial services, insurance (BFSI), and telecommunications.

Storage Software Industry Growth Analysis:

The increasing need for data protection and security is driving the storage software market. Moreover, the growing adoption of cloud-based storage solutions is significantly supporting the market as cloud-based storage software allows businesses to store their data on remote servers and access it from anywhere with an internet connection.

Furthermore, with growing regularity compliance, several leading players are heavily investing in developing solutions that can help organizations comply with these regulations by providing features such as data archiving, retention policies, and audit trails, this is providing a boost to the demand. Other factors, such as technological advancements on the Internet of Things (IoT), the rise of edge computing, and the introduction of hyper-converged infrastructure technology, are also influencing the market.

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Key Market Segmentation:

Top Storage Software Companies Worldwide:

• Broadcom Inc.
• Citrix Systems, Inc.
• Dell Technologies, Inc.
• Fujitsu Limited
• Hewlett Packard Enterprise Development LP
• Hitachi Vantara LLC
• Huawei Technologies Co. Ltd
• International Business Machines Corporation
• NetApp, Inc.
• Oracle Corporation
• Western Digital Technologies, Inc.

Breakup by Software Type:

• Data Protection and Recovery
• Storage and Device Management
• Storage Replication
• Archiving
• Storage Virtualization
• Software Defined Storage
• Storage Infrastructure
• Others

Breakup by Deployment Type:

• Cloud-based
• On-premises

Breakup by Organization Size:

• Small and Medium Enterprises
• Large Enterprises

Breakup by Vertical:

• BFSI
• Healthcare
• Manufacturing
• Retail
• IT and Telecom
• Government
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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