Storage Software Industry - Regional Scope
North America Market Forecast
The North America storage software market is estimated to hold a leading revenue share of 40.6% by the end of 2037. The dominance of the regional market is propelled by a heightened demand for data protection and recovery solutions, as enterprises strive to meet strict regulatory standards such as HIPAA. Additionally, the U.S. market has been at the forefront of the AI race, creating a heightened requirement for storage software to manage big data.
The U.S. storage software market is poised to expand during the forecast timeline. A major factor in the regional market is the rising demand from industries such as BFSI, healthcare, and AI. Additionally, the continuous investment in cybersecurity infrastructure and a surging preference for cloud-based storage models have accelerated the market’s development. In terms of growth, Rubrik reported a considerable 47% annual revenue increase in its fourth fiscal quarter of 2024, totaling at USD 258.0 million. These figures indicate the growth opportunities in the U.S. storage software market.
Asia Pacific Market Forecast
The APAC storage software market is poised to register the fastest expansion, rising at a CAGR of 12.2% throughout the forecast period. A major driver of the APAC market is the surge in smart city initiatives as well as large-scale digital infrastructure projects. Economies such as China, India, Singapore, etc., are investing in building the next-generation IT ecosystems, which create the demand for storage software solutions. The Asian Development Bank has highlighted that there has been a heightened funding towards data center expansion in the present decade, which is poised to create sustained demand for storage software to handle rising data volumes.
The China storage software market is estimated to maintain its dominant share in APAC. The market is reinforced by the strong governmental support for data sovereignty policies. As per the MIIT of China, initiatives, including Digital China, are driving the demand for localized, secure storage software solutions. Additionally, the country has been at the forefront of creating a strong digital economy, which is expected to create lucrative leads for storage software deployment throughout the forecast timeline.
