PUBLISHER: KBV Research | PRODUCT CODE: 1709817
PUBLISHER: KBV Research | PRODUCT CODE: 1709817
The Asia Pacific Software Defined Storage Market would witness market growth of 27.7% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Software Defined Storage Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $19,497.8 million by 2031. The Japan market is registering a CAGR of 27% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 28.5% during (2024 - 2031).
Big data storage requires vast amounts of space with high-performance capabilities. SDS helps address the unique needs of big data applications, where terabytes or even petabytes of data must be processed, analyzed, and stored. By enabling a flexible, scalable storage infrastructure, SDS allows organizations to handle high data throughput while optimizing storage costs.
Traditional enterprise storage systems are often complex and costly, but SDS allows enterprises to scale their storage as needed while keeping costs low. SDS can deliver high-performance storage capabilities to small businesses and large corporations without expensive proprietary hardware, making it particularly attractive for small and medium-sized enterprises (SMEs) looking for enterprise-class storage solutions.
According to the National Investment Promotion and Facilitation Agency, India's banking sector has become one of the most stable in the world, with the percentage of people holding bank accounts increasing from 53% to 78% between FY 16 and FY 21. Additionally, India's fintech sector is projected to reach $150 billion by 2025, up from $50 billion in 2021, with the sector expected to generate $2.1 trillion in opportunities by 2030. This rapid digital transformation in both banking and fintech is driving the need for efficient data storage solutions. As per the State Council of the People's Republic of China, China's software and information technology services industry generated 12.33 trillion yuan in revenues in 2023, representing a 13.4% year-on-year growth. This robust growth in the IT and software sectors highlights the increasing importance of advanced storage technologies, including SDS. As China's technology-driven industries expand, the demand for flexible and efficient data storage solutions has increased. In particular, the growing adoption of cloud computing, big data analytics, and artificial intelligence in industries such as e-commerce, healthcare, and finance are generating massive volumes of data. Therefore, India, Australia, and China are experiencing rapid digital growth, with significant banking, fintech, transportation, and technology services advancements.
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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
Asia Pacific Software Defined Storage Market Report Segmentation
By Component
By Deployment
By Organization Size
By End Use
By Application
By Country