The market is anticipated to expand as more companies choose cloud-based storage options and as the need for scalable, affordable data storage solutions grows. The market for storage as a service (STaaS) is expected to grow at an astounding CAGR of 16.4% between 2020 and 2030.
The term “Storage as a Service” (STaaS) refers to the market for online data storage services that are offered as subscription-based services. Organizations can use this kind of service to store their data off-site, which eliminates the need for internal IT infrastructure and increases flexibility and scalability. For different sorts of consumers, the STaaS market provides a variety of solutions, including object storage, file storage, and block storage. Amazon Web Services (AWS), Microsoft Azure, and Google Cloud are important STaaS market players.
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Due to the fact that cloud services make up one-third of businesses’ IT budgets, demand for STaaS will skyrocket.
90% of businesses will choose superior solutions over storage as a service as cloud computing gets more and more popular.
Government and IT & telecom will continue to be the two leading segments during the projected period, with respective CAGRs of 14% and 16.5%. SMEs should invest in STaaS because going remote will significantly improve business operations over time.
In the post-pandemic future, bringing your own device will usher in a new era of company operations, driving STaaS market growth.
The Market for Storage as a Service: Regional Analysis
The development of the STaaS market in South Asia and the Pacific is significantly influenced by the countries’ rapid economic development and rising investments in digitalizing IT infrastructure. This local market has been stimulated by the use of digital payments, even in rural regions, and cloud computing in the IT sector, which reinforces the foundation of the Indian economy.
Investors wishing to grow their activities in this region are also motivated by the region’s booming e-commerce. Cloud computing will become a significant economic opportunity, supporting the expansion of STaaS, thanks to next-generation Internet technologies’ zero downtime, low latency, and seamless connectivity.
Storage as a Service: Storage as a Service Solution Providers
Continuous focus on collaborative partnerships to develop and innovate digital capabilities and to leverage new business models has become a key strategy of Storage as a Service solution provider. Moreover, the rising scope of applications related to Storage as a Service and a competitive market has resulted in solution differentiation and expansion strategy by the vendors to gain a competitive edge and strengthen their market presence specifically to the desired industry market. For this, product innovation and development activities have been a mainstay in the Storage as a Service market.
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Key Players in the Storage as a Service Market are:
- Hitachi Vantara
- Zadara Storage
- Cloudian
- Quantum Corporation
- AWS
- IBM Corporation
- Microsoft
- HPE
- AT&T
- Dell Technologies
- Rackspace Inc.
Storage as a Service Market: Segmentation
Service Type :
- Cloud NAS
- Cloud SAN
- Cloud Backup
- Cloud Archiving
Enterprise Size :
- Small & Medium Enterprises
- Large Enterprises
Industry :
- Media & Entertainment
- Government
- Healthcare
- IT & Telecom
- Manufacturing
- Education
- Others
Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Cloud Storage Innovation / Development Trends
3.3. Key Success Factors
4. Global Storage as a Service Market – Pricing Analysis
4.1. Pricing Analysis, By Subscription Model
4.2. Global Average Pricing Analysis Benchmark
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