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Emerging Sub-Segments Transforming the On-Premises Object Storage Software Market Landscape
On‐Premises (On-Prem) Object Storage Software Market
Projected Market Valuation for On-Premises Object Storage Software by 2030
The market for on-premises (on-prem) object storage software is anticipated to experience strong growth, reaching a valuation of $14.14 billion by 2030. This corresponds to a compound annual growth rate (CAGR) of 12.8% over the forecast period. Factors driving this growth include the widespread adoption of hybrid cloud architectures, heightened demand for backup systems resilient to ransomware attacks, increased use of analytics on stored unstructured data, and the growing need for sovereign data storage with localization requirements. Additionally, the expansion of AI-powered data management tools is contributing to market momentum. Key trends expected to influence the market include rising demand for S3-compatible object storage platforms, enhanced data replication and ransomware-resistant structures, unified data management solutions across hybrid environments, growth in long-term archival and compliance-focused storage, and integration of high-performance object storage tailored for big data and media workloads.
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Leading Players in the On-Premises Object Storage Software Market
Several prominent companies dominate the on-premises object storage software market landscape. These include Dell Technologies Inc., International Business Machines Corporation (IBM), Hewlett Packard Enterprise Company, Fujitsu Limited, NEC Corporation, NetApp Inc., Pure Storage Inc., Hitachi Vantara Corporation, Nutanix Inc., Quantum Corporation, DataDirect Networks Inc. (DDN), VAST Data Inc., DataCore Software Corporation, Cloudian Inc., Zadara Inc., Scality S.A., MinIO Inc., Versity Software Inc., PoINT Software & Systems GmbH, and Ceph.io.
A notable recent development occurred in January 2023 when US-based DataCore Software Corporation acquired Object Matrix, a UK company specializing in object storage software and media archive solutions. This acquisition aims to enhance DataCore's on-premises object storage capabilities and broaden its offerings into high-growth markets such as edge computing and media by integrating Object Matrix's MatrixStore technology into its Perifery edge solutions.
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Emerging Technology Trends Shaping the On-Premises Object Storage Software Market
Market leaders are increasingly focusing on innovative software-defined storage technologies that improve scalability, flexibility, and cost management. Software-defined storage separates storage software from the underlying hardware, allowing data services to run on standard commodity servers while supporting object, block, and file storage from a unified platform.
For example, in January 2023, Red Hat Inc. introduced the latest version of Red Hat Ceph Storage. This release offers an extensible software-defined storage solution that supports massively scalable object storage alongside block and file services. The update enhances data durability, performance, and multi-protocol access, enabling enterprises to deploy cost-efficient, on-premises storage infrastructures using commodity hardware.
Segment Breakdown of the On-Premises Object Storage Software Market
This market can be segmented into the following categories:
- Component: Software, Services
- Deployment Type: Private Cloud, Hybrid Cloud, Traditional On-Premises
- Organization Size: Small and Medium Enterprises, Large Enterprises
- Application Areas: Data Backup and Recovery, Archiving, Big Data Analytics, Media and Entertainment, Healthcare, Banking, Financial Services and Insurance, Information Technology and Telecommunications, Government, and Other Applications
Further software subcategories include object storage platform software, metadata management software, data replication and protection software, storage management and orchestration software, API-compatible storage software, security and access control software, and monitoring and performance management software.
Service segments cover implementation and deployment, system integration, data migration and configuration, support and maintenance, performance optimization, training and knowledge transfer, and managed storage services.
This comprehensive segmentation highlights the diverse use cases and deployment preferences fueling the growth and evolution of the on-premises object storage software market.
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