PUBLISHER: KBV Research | PRODUCT CODE: 1709815
PUBLISHER: KBV Research | PRODUCT CODE: 1709815
The North America Software Defined Storage Market would witness market growth of 25.9% CAGR during the forecast period (2024-2031).
The US market dominated the North America Software Defined Storage Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $60,499.5 million by 2031. The Canada market is experiencing a CAGR of 28.4% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 27.5% during (2024 - 2031).
Software-defined Storage (SDS) represents a transformative shift in data storage technologies, fundamentally altering how enterprises manage their data. Traditional storage systems rely heavily on proprietary hardware and specific configurations, making them rigid, costly, and difficult to scale. In contrast, SDS abstracts and virtualizes the storage hardware to enable more flexible, scalable, and cost-effective solutions.
In SDS, software controls the data storage infrastructure and allows storage resources to be provisioned, allocated, and managed across various storage hardware components. This decoupling of software and hardware allows businesses to integrate commodity hardware, reducing capital expenditures and providing greater flexibility.
According to the Government of Canada, the country has invested $196.1 billion over the next ten years, including $46.2 billion in new funding, to improve healthcare services. This significant investment also includes $2.5 billion for supporting Indigenous priorities, totaling $198.6 billion over the next decade. With such a substantial investment in healthcare, there is an increasing need for efficient data storage solutions to support the growth of electronic health records, telemedicine, and other digital health initiatives. Moreover, as per the International Trade Administration (ITA), Mexico's telecommunications sector is one of the most dynamic in the region, consistently outpacing the overall economy's growth. Driven by mobile telephones, broadband services, and broadcasting, Mexico had over 130 million active wireless lines in 2022, with over 113 million connected to the internet. This robust growth in telecommunications infrastructure, including broadband and mobile internet, has increased demand for data storage solutions. In conclusion, USA, Canada and Mexico are investing heavily in their healthcare and telecommunications sectors and entertainment industry, driving the demand for flexible and scalable data storage solutions.
Based on Component, the market is segmented into Solutions (Storage Virtualization, Storage Provisioning & Orchestration, and Storage Replication), and Services (Support & Maintenance, Implementation & Integration, and Consulting). Based on Deployment, the market is segmented into On-premises, and Cloud. Based on Organization Size, the market is segmented into Large Enterprises, and Small & Medium-sized Enterprises (SMEs). Based on End Use, the market is segmented into BFSI, IT & Telecommunications, Retail & E-commerce, Healthcare, Logistics & Warehouse, Media & Entertainment, and Other End Use. Based on Application, the market is segmented into Data Backup and Disaster Recovery, Cloud Storage, Big Data Storage, Storage Provisioning, Data Archiving, and Other Application. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
North America Software Defined Storage Market Report Segmentation
By Component
By Deployment
By Organization Size
By End Use
By Application
By Country