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Software-Defined Storage (SDS) Market size is set to grow by USD 105.07 billion from 2024-2028, Surge in cloud adoption boost the market, Technavio

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NEW YORK, June 25, 2024 /PRNewswire/ — The global software-defined storage (SDS) market size is estimated to grow by USD 105.07 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 37.02%  during the forecast period. Surge in cloud adoption is driving market growth, with a trend towards rise of hyper-converged technology. However, high costs associated with software-defined storage  poses a challenge. Key market players include Avaya LLC, Broadcom Inc., Cisco Systems Inc., Citrix Systems Inc., DataCore Software Corp., DataDirect Networks Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Lenovo Group Ltd., Microsoft Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Pure Storage Inc., Telefonaktiebolaget LM Ericsson, and VMware Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Software-Defined Storage (SDS) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 37.02%

Market growth 2024-2028

USD 105079.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

27.17

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, China, Japan, UK, and Germany

Key companies profiled

Avaya LLC, Broadcom Inc., Cisco Systems Inc., Citrix Systems Inc., DataCore Software Corp., DataDirect Networks Inc., Dell Technologies Inc., Fujitsu Ltd., Hewlett Packard Enterprise Co., Hitachi Ltd., Huawei Technologies Co. Ltd., International Business Machines Corp., Lenovo Group Ltd., Microsoft Corp., NetApp Inc., Nutanix Inc., Oracle Corp., Pure Storage Inc., Telefonaktiebolaget LM Ericsson, and VMware Inc.

Market Driver

The global software-defined storage (SDS) market is experiencing growth due to the increasing adoption of hyper-converged infrastructure (HCI) by enterprises. HCI, a unified system combining storage, computing, and networking, enhances resource utilization and reduces power consumption. Vendors like Cisco offer HCI solutions, such as HyperFlex systems, which provide agility, high performance, and scalability through software-defined computing, storage, and networking. These solutions support data center core, multi-cloud, and edge deployments, contributing to the growth of the SDS market. 

The Software-Defined Storage (SDS) market is experiencing significant growth due to increasing demands for agility and efficiency in data management. Artificial Intelligence (AI) and machine learning technologies are driving innovation in SDS solutions, providing features like automating processes, improving data security, and enhancing storage performance. Intelligent SDS systems are enabling businesses to cost-effectively manage their data, especially in the context of cloud and on-premises environments. Additionally, the integration of storage and network functions is leading to the development of more advanced SDS offerings. Overall, the SDS market is trending towards more flexible, scalable, and intelligent storage solutions. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The Software-Defined Storage (SDS) market allows businesses to consolidate data center components, reducing CAPEX and operational costs through technologies like virtualization, containerization, and hyper-converged infrastructure. Vendors offer various SDS solutions, including primary, secondary, object, and cloud storage. However, enterprises face challenges in storage consolidation, with some vendors requiring upfront licensing fees based on capacity. Inefficient utilization of existing infrastructure can result in substantial losses. To address these concerns, market players innovate and collaborate. Yet, the increasing use of AI and IoT generates vast data volumes, posing storage and management challenges, potentially hindering market growth.The Software-Defined Storage (SDS) market is experiencing significant growth due to the increasing demand for flexible and efficient storage solutions. However, the implementation of SDS comes with certain challenges. One challenge is ensuring compatibility with various storage hardware and software platforms. Another challenge is managing the complexity of SDS environments, which require advanced skills and expertise. Additionally, security is a major concern, as SDS can expose vulnerabilities if not properly configured and managed. Encryption and access control mechanisms are essential to mitigate these risks. Lastly, scalability is a challenge, as SDS must be able to handle increasing data volumes and support various workloads. Despite these challenges, the benefits of SDS, such as agility, cost savings, and improved performance, make it a worthwhile investment for businesses.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This software-defined storage (sds) market report extensively covers market segmentation by  

End-user 1.1 BFSI1.2 Telecom and IT1.3 Government1.4 Healthcare1.5 Education and othersComponent 2.1 Solution2.2 ServicesGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 BFSI-  The software-defined storage (SDS) market experiences significant growth in the BFSI sector due to increasing storage demands, data protection regulations, and technological innovations. Enterprises in this sector seek agile, scalable, and efficient SDS solutions for managing unstructured data and ensuring security. Notable vendors like Red Hat and OSNEXUS provide offerings for big data management, encryption, and disaster recovery. The BFSI segment’s growth is driven by the adoption of AI technologies and the need to optimize storage costs.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

In the rapidly evolving digital economy, Artificial Intelligence (AI) is revolutionizing various sectors, including the Business Financial Services Industry (BFSI). One of the significant areas of transformation is the automation of process controls through advanced Data Center Solutions. Exponential data growth in the BFSI sector necessitates the adoption of innovative technologies like Software-Defined Storage (SDS). SDS, which includes Container-Native solutions and Cloud Storage, offers Enterprises cost-effective, flexible, and efficient data management. Customer data analysis is a crucial application of SDS, enabling businesses to gain valuable insights. Digital Transformation in Emerging Economies is accelerating the demand for SDS, with Public Sector Staff and Citizens benefiting from improved Data Protection through Encryption. High-Performance Computing (HPC) applications also leverage SDS for enhanced performance. Exxact Corporation and FalconStor’s partnerships are examples of industry collaborations driving SDS innovation.

Market Research Overview

The Software-Defined Storage (SDS) market refers to a modern approach in building and managing storage infrastructure where intelligence is decoupled from hardware and applied through software. SDS solutions provide flexibility, scalability, and efficiency by enabling the pooling of physical storage from various sources and presenting it as a unified, logical storage system. This technology allows organizations to easily manage their storage resources, automate storage provisioning, and improve data protection. SDS also supports various protocols and interfaces, making it compatible with diverse applications and environments. The adoption of SDS is driven by the increasing demand for agile and cost-effective storage solutions in today’s data-intensive world.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userBFSITelecom And ITGovernmentHealthcareEducation And OthersComponentSolutionServicesGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Madhive Enhances Data Partnership with Datonics, the Industry’s First Certified CarbonNeutral® Data Provider

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Over 1,000 Datonics data segments are now live within Madhive’s Data Marketplace, giving buyers even more ability to reach desired audiences across local CTV

NEW YORK, May 19, 2025 /PRNewswire-PRWeb/ — Audience data company and the industry’s first CarbonNeutral® data provider Datonics, has expanded its partnership with Madhive, the only unified operating system for local media, to help advertisers more effectively target and reach audiences across local CTV. Buyers can now access over 1,000 Datonics audience segments directly within Madhive’s data marketplace, including niche personas, commerce behaviors, lifestyle interests, and more—enhancing precision targeting across local CTV campaigns.

“By extending the availability of our data through Madhive’s platform, we are partnering with a leader in local CTV and helping businesses to reach customers through this growing channel,” said Michael Benedek.

“Local advertisers need every dollar to work harder—and that starts with precision. At Madhive, we’re committed to empowering local TV advertisers with smarter, more efficient ways to reach their audiences. By deepening our partnership with Datonics, we’re bringing advanced targeting to our platform, enabling all advertisers to connect with the right consumers at the right time. Datonics’ granular, high-quality data and shared commitment to sustainability make them a natural fit as we help modernize local advertising for a more effective and responsible future,” said Luc Dumont, SVP of Business Development at Madhive.

These new segments are the latest addition to Madhive’s Data Marketplace, which enables advertisers to connect directly with curated audience segments, including behavioral, demographic, and transactional data, and more. Through partnerships with top-tier data providers, the marketplace offers high-quality audiences at efficient costs, leading to higher match rates and broader reach for marketers. With access to nearly every CTV household, the marketplace enables hyperlocal targeting down to the zip code and congressional district level.

Datonics recently became the first audience data company to be certified as a CarbonNeutral® Enterprise. Datonics has invested in verified carbon removal, avoidance and reduction projects with Climate Impact Partners and followed the CarbonNeutral® Protocol. To further its commitment to sustainability, Datonics is also a member of The Climate Registry, a global non-profit organization that provides public and private companies with a publicly accessible registry of Greenhouse Gases (GHG) data. Datonics is also a supporter of the US chapter of Ad Net Zero, an organization devoted to helping companies reduce the carbon emissions from advertising operations.

“The local CTV market presents a lot of opportunity to advertisers – both local and national. By extending the availability of our data through Madhive’s platform, we are partnering with a leader in local CTV and helping businesses to reach customers through this growing channel. Our focus on sustainability provides an added benefit of reducing the overall carbon footprint of advertising initiatives,” said Michael Benedek, CEO, Datonics. “Through our expanded partnership, we hope that advertisers are able to experience better results with their campaigns by reaching precisely those audiences that are right for their products and services.”

About Datonics:

Datonics is an Audience Data company that has aggregated and curated the most accurate, robust and comprehensive data set comprising online, offline, and mobile activity. Agencies and their client brands use the Datonics Audience Targeting Segments & Audience Insights (TM) / CRM Enrichment suite to understand, engage with, acquire and retain their target customers – planning, activating, and targeting media campaigns across programmatic display, mobile, streaming audio, CTV and DOOH. Datonics is a member and former board member of the Network Advertising Initiative (NAI), a member of the Association of National Advertisers (ANA) and the Leadership Council of the Ad Council. Datonics is a sustainability leader, member of Ad Net Zero, and recognized as the first certified CarbonNeutral® Audience Data company.

About Madhive

Madhive is the only unified operating system built to empower local media companies to scale their advertising businesses and extend their reach to new audiences. Madhive’s customizable end-to-end platform supports the entire campaign lifecycle from proposal generation and planning to omnichannel buying, real-time optimization, and measurement. With robust workflow software that integrates seamlessly into existing systems, Madhive equips sellers with powerful tools to drive revenue. Trusted by leading local media enterprises like Fox, Scripps, and Hearst, as well as agencies such as Lifebrands, Madhive powers over 30,000 campaigns for small and medium-sized businesses every day. To learn more, visit Madhive.com.

Media Contact

Gina Preoteasa, Datonics, 1 (646) 867-0647, Gina@gbp.news, www.Datonics.com

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SOURCE Datonics

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Manulife Investment Management Announces Formation of Lakefront Fiber to Serve Hyperscale, Carrier and Municipal Customers

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BOSTON, May 19, 2025 Manulife Investment Management, through certain affiliates, (“collectively, Manulife IM”) today announced the formation of Lakefront Fiber, LLC (“Lakefront Fiber”), a joint venture with Midwest Fiber Networks (“MWFN”).

“We are pleased to partner with MWFN, with whom we have had a long-standing relationship, to support the build-out of Lakefront Fiber’s extensive pipeline,” said Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management.

Lakefront Fiber will facilitate connectivity for hyperscale, carrier and municipal customers, building upon the long-standing relationships established by MWFN’s multi-decade position as a leading regional fiber developer and operator.

“This partnership represents the extension of our digital infrastructure strategy into critical fiber assets supported by long-term contracts with creditworthy counterparties,” said Eddie Dunn, Managing Director, Infrastructure, Manulife Investment Management.

Nik Ivancevic, Managing Partner of Midwest Fiber Networks, said “Our relationship with the Manulife IM team extends many years, and we are excited to expand MWFN’s scale to better serve our customers through Lakefront Fiber.”

Concurrently, Lakefront Fiber has also announced the closing of its first transaction, the acquisition of select network assets in the state of Illinois from Everstream. This strategic acquisition adds nearly 650 route miles, supporting Lakefront Fiber’s ability to deliver high-capacity fiber connectivity and customer-focused solutions across key markets in the Midwest.

About Manulife Wealth & Asset Management

As part of Manulife Financial Corporation, Manulife Wealth & Asset Management provides global investment, financial advice, and retirement plan services to 19 million individuals, institutions, and retirement plan members worldwide. Our mission is to make decisions easier and lives better by empowering people today to invest for a better tomorrow. As a committed partner to our clients and as a responsible steward of investor capital, we offer a heritage of risk management, deep expertise across public and private markets, and comprehensive retirement plan services. We seek to provide better investment and impact outcomes and to help people confidently save and invest for a more secure financial future. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

About Midwest Fiber Networks

Midwest Fiber Networks designs and delivers secure, high-speed fiber connectivity across the Midwest with a focus on reliability, redundancy, and customer satisfaction. With deep roots in telecommunications infrastructure and decades of experience, MWFN supports mission-critical operations for businesses, educational institutions, healthcare systems, and government entities. Through strategic partnerships and a rapidly growing footprint, MWFN is building the future of fiber—one mile at a time. For more information, visit midwestfibernetworks.com.

Media Contact: Elizabeth Bartlett, Elizabeth_Bartlett@Manulife.com

 

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SOURCE Manulife Investment Management

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Workday Unveils Next Generation of Illuminate Agents to Transform HR and Finance Operations

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New AI Agents Help Speed Hiring, Improve Frontline Worker Experiences, Streamline Complex Financial Processes, and Empower Employees to Find Information Fast

PLEASANTON, Calif., May 19, 2025 /PRNewswire/ — Workday, Inc. (NASDAQ: WDAY), the AI platform for managing people, money, and agents, today announced a new wave of Illuminate Agents designed to significantly speed up the hiring processes, improve frontline worker experiences, streamline complex financial processes, and empower employees to find information quickly and easily. The new agents leverage Workday’s foundation of responsible AI and are purpose-built to supercharge employee productivity – creating a future where agentic AI fundamentally transforms how work gets done.

“The key to unlocking real business value with AI is to actively reshape the very core of how businesses operate,” said Gerrit Kazmaier, president, product and technology, Workday. “Workday is helping our 11,000+ customers in that transformation by leveraging our deep HR and finance expertise to deliver agents that provide measurable business value and empower them to thrive in the future of work.”

“Data is a powerful catalyst for growth when it can be transformed into actionable intelligence,” said Shane Luke, vice president, Workday Illuminate. “Our agents leverage the world’s most powerful HR and finance dataset to turn insights into impact – boosting productivity, enhancing compliance, and accelerating decision-making at every level.”

New Illuminate Agents announced today include:

Contingent Sourcing Agent: Accelerates temporary hiring by identifying talent open to contingent roles, streamlining screening, and enhancing applicant quality.

Contract Intelligence Agent: Enhances legal and business decision-making by rapidly reviewing contracts to identify risks, track key dates and fees, and provide ongoing analysis.

Contract Negotiation Agent: Expedites negotiations by drafting applicable contract language, detecting risks, and recommending revisions.

Document Driven Accounting Agent: Sets a new benchmark for accounting productivity by extracting data from documents to automate billing, invoicing, and accounting entries.

Frontline Agent: Saves frontline workers and managers time by enabling text-based absence reporting, quickly identifying qualified replacements, and helping to ensure compliance and accurate shift pay.

Self-Service Agent: Powers employee and manager self-service by providing instant answers to inquiries, assisting with complex tasks, and executing everyday actions on employees’ behalf.

Supplier Contracts Agent: Proactively reviews supplier contracts to identify obligations and opportunities, aligning procurement processes with contract terms.

“Workday’s cutting-edge contract AI and automated workflow technology has already delivered tangible benefits, saving us thousands of hours and millions of dollars across multiple critical corporate initiatives,” said Shelle Elzer, legal operations manager, NetApp. “We’re genuinely excited to see Workday expand on this agent innovation and are confident these advancements will empower our teams with even greater efficiencies that ultimately free them to focus on more meaningful work.”

“Workday continues to effectively target critical business outcomes in productivity, compliance, and insights with agentic AI. This is one more significant step in establishing AI agents as practical and impactful tools for business transformation,” said Mickey North Rizza, group vice-president, IDC Enterprise Software. “Customers need measurable business value and clear time-to-payback and Workday’s innovations with agentic AI will resonate strongly with organizations looking to truly transform the future of work and fully take advantage of the power of AI.”

Workday Illuminate: AI to Transform How People Work
These new agents join Workday’s growing portfolio of agentic AI solutions, including the previously-announced Business Process Optimize Agent, Financial Audit Agent, Payroll Agent, Recruiting Agent, and Talent Mobility Agent. Customers will be able to easily deploy and manage these agents through the Workday Agent System of Record. This central command center will enable IT and business leaders to maximize the impact of their agents and ensure they support their employees to drive measurable outcomes.

Illuminate is the next generation of Workday AI. Built on the world’s largest and cleanest HR and financial dataset – fueled by more than 1 trillion transactions a year – Illuminate understands the business context around the data to transform business operations by elevating humans, accelerating finance, and managing an organization’s entire fleet of AI agents. From skills, to performance, goals, cost and ROI metrics, organizational models, and individual identities, Illuminate has deep contextual understanding of how work gets done.

Availability
Contract Intelligence Agent and Contract Negotiation Agent are now generally available. Self-Service Agent will be generally available by the end of 2025. Contingent Sourcing Agent, Document Driven Accounting Agent, Frontline Agent, and Supplier Contracts Agent will be available to early adopters by the end of 2025, with general availability planned for early 2026.

For More Information

Discover how Workday’s Illuminate Agents will transform entire business processes.Learn more about Workday’s previously-announced AI agents, powered by Illuminate.Explore Workday’s AI Masterclass to learn how to drive value from agentic AI.

About Workday
Workday is the AI platform for managing people, money, and agents. The Workday platform is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. Workday is used by more than 11,000 organizations around the world and across industries – from medium-sized businesses to more than 60% of the Fortune 500. For more information about Workday, visit workday.com.

© 2025 Workday, Inc. All rights reserved. Workday and the Workday logo are registered trademarks of Workday, Inc. All other brand and product names are trademarks or registered trademarks of their respective holders.

Forward-Looking Statements
This press release contains forward-looking statements including, among other things, statements regarding Workday’s plans, beliefs, and expectations. These forward-looking statements are based only on currently available information and our current beliefs, expectations, and assumptions. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties, assumptions, and changes in circumstances that are difficult to predict and many of which are outside of our control. If the risks materialize, assumptions prove incorrect, or we experience unexpected changes in circumstances, actual results could differ materially from the results implied by these forward-looking statements, and therefore you should not rely on any forward-looking statements. Risks include, but are not limited to, risks described in our filings with the Securities and Exchange Commission (“SEC”), including our most recent report on Form 10-Q or Form 10-K and other reports that we have filed and will file with the SEC from time to time, which could cause actual results to vary from expectations. Workday assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release, except as required by law.

Any unreleased services, features, or functions referenced in this document, our website, or other press releases or public statements that are not currently available are subject to change at Workday’s discretion and may not be delivered as planned or at all. Customers who purchase Workday services should make their purchase decisions based upon services, features, and functions that are currently available.

 

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SOURCE Workday Inc.

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