Storage Management Software Market Growing at 9.9% CAGR | Reach USD 25,853.66 Million by 2034 Globally

WILMINGTON, DE, UNITED STATES, July 10, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Storage Management Software Market Growing at 9.9% CAGR | Reach USD 25,853.66 Million by 2034 Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global storage management software market size was valued at $9,850.15 million in 2024, and is projected to reach $25,853.66 million by 2034, growing at a CAGR of 9.9% from 2025 to 2034.

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Driving Factors

The global storage management software market is majorly driven by the increase in data volumes generated by businesses, users, and devices, which creates a growing need for efficient and scalable storage solutions. In addition, surge in the adoption of cloud storage solutions for their flexibility, cost-effectiveness, and ease of access, further boosts the need for tools that can manage hybrid environments, fuels the market growth. Furthermore, there is a growing need for reliable data backup and recovery to protect against data loss from cyberattacks, system failures, or human error, contributing to the growth of the market.

Market Segmentation

The storage management software market is segmented into deployment mode, enterprise size, application, and region. On the basis of deployment mode, the market is divided into cloud and on-premises. By enterprise size, it is bifurcated into SMBs and large enterprises. Depending on application, it is segregated into data protection and recovery, device management, storage virtualization, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Competition Analysis

The report analyzes the profiles of key players operating in the storage management software market are Zoho Corporation Pvt. Ltd., SolarWinds Worldwide, LLC, Microsoft Corporation, Hitachi Vantara LLC., Tiger Technology AD, Broadcom, Inc., NetApp, IBM Corporation, Amazon Web Services, Inc., Arcserve, LLC, Cohesity, Inc., Pure Storage, Inc., Alphabet, Dell Technologies, and Veritas Technologies LLC. These players have adopted various strategies such as mergers and acquisitions, product innovation, strategic partnerships, and expansion into emerging markets to enhance their technological capabilities and global reach in the storage management software industry.

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By region, North America dominated the market share in 2024, owing to an increase in the adoption of advanced technologies like cloud computing, AI-driven storage solutions, and stringent data compliance requirements, contributing significantly to the region’s storage management software market growth. However, LAMEA (Latin America, Middle East, and Africa) is expected to experience the fastest growth during the forecast period. The region is experiencing an increase in the digital transformation initiatives, expansion of data centers, and rise in investments in IT infrastructure, which is expected to provide lucrative growth opportunities for the market in this region.

On the basis of application, the global storage management software market share was dominated by the device management segment in 2024 and is expected to maintain its dominance in the upcoming years, owing to the growing demand for efficient storage optimization, real-time monitoring, and automation in enterprise IT infrastructure. In addition, there is growing emphasis on reducing operational costs and improving data security, further driving adoption. However, the storage virtualization segment is expected to experience the highest growth during the forecast period. This segment is experiencing increasing adoption due to its ability to enhance scalability, reduce hardware dependency, and streamline data center operations.

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Recent Developments in the Storage Management Software Market

● In January 2025, Broadcom launched the Emulex Secure Fibre Channel Host Bus Adapters (HBA), which offer quantum-resistant network encryption. This innovation is designed to protect data in transit between servers and storage, addressing the increasing threat of ransomware and complying with new government regulations. The solution provides real-time ransomware detection and maintains storage array services like deduplication and compression, which are often compromised by application-based encryption.

● In October 2024, Vodafone and Google announced a significant expansion of their strategic partnership with a ten-year, billion-dollar deal. This collaboration aims to bring new AI-powered devices and services to millions of Vodafone's customers across Europe and Africa. Key highlights include the introduction of Google’s generative AI models, enhanced access to Google’s Pixel devices via Vodafone’s 5G network, and the development of new cloud-native security services using Google Cloud’s Security Operations platform. This partnership is set to enhance customer experiences and drive innovation in the telecommunications sector.

● In September 2024, Pure Storage partnered with Rubrik to offer a comprehensive cyber resilience solution, combining the strengths of Rubrik Security Cloud and Pure Storage's platform. This collaboration aims to protect data and minimize downtime by providing a modern solution architecture for both short- and long-term data storage and protection. The partnership ensures that organizations' critical data is secure and quickly recoverable, addressing the challenges of exponential data growth and increasing cyber threats.

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