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Flash technologies and virtualization of Tier 1 applications are driving the software storage market

Press release July 10, 2014 Storage software market, storage software companies

TechNavio's analysts forecast the Global Storage Software market will grow at a CAGR of 4.74 percent over the period 2013-2018.

Recent research suggests that global software storage market is growing as enterprises are increasingly utilizing this tool to improve the control and management of storage hardware devices and networks. Given the immense growth potential, the market is projected to grow at a CAGR of 4.74 percent over the forecast period between 2014 and 2018.

This report: Global Storage Software Market 2014-2018presents a detailed analysis about the market situation, drivers and outlook of this industry. The report studies the prevalent market trends across the global markets and thereby highlights the scope of the market.

Market drivers

Research has shown that companies are resorting to software defined storage (SDS) to both simplify the management of their extensive storage devices and also future proof their infrastructure. Extending the life of existing storage assets, simplifying complex storage operations and automating them, lowering hardware costs, simplifying management of different classes of storage and avoiding hardware lock-in from storage manufacturers are some of the key factors driving this market.

Market trends

All-flash storage systems, hybrid arrays that mix solid-state drives (SSDs), hard disk drives and flash-based caches, especially in servers, are becoming common in virtual server and virtual desktop infrastructure (VDI) environments to promote enhanced performance.

Storage administrations have traditionally been change-resistant. But more recently a host of IT organizations are trying new storage technologies and architectures, like flash-based systems or vSANs (virtual storage-area networks), for better speed, growth and flexibility that virtualized environments require. Experts say that efforts to virtualize more data centers will continue. Additionally a greater surge will be witnessed to move Tier1 applications (ERP, databases, mail systems, OLTP etc.) onto virtualization platforms, better finances and greater productivity being the key drivers.

Key players

Symantec is one of the largest providers of storage software and owns approximately 14.6% of the USD 14 billion storage software market, close behind top players EMC and IBM. Other players profiled in this report include NetApp Inc., Dell Inc., Hewlett-Packard Co., Hitachi Ltd. and Microsoft Corp.

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Storage software market, storage software companies