The Global Storage As A Service Market was $21.1 Bn in 2020, and it is expected to reach $148.1 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 21.5% between 2020-2030. The storage as a service market is a type of business model in which large company rents space in the storage system to an individual or to a smaller company. It allows the data to be remotely maintained, managed, and blocked. The service level agreement for the storage as a service signed between the concern parties for the migration. Thus, the increasing amount of enterprises boost the growth of storage as a service market. However, in the current pandemic of COVID-19 might make a slight difference in the growth rate in the present year. Now, Moving forward, robust demand for Global Storage As A Service Market in the software department is further estimated to create new necessities and augment the market of growth over the forecast period of 2020-2030.
Increasing data over cloud and industry is one of important concern who work on databased platforms. Data pertaining to financials, legal, healthcare and many other industries are increasing tremendously. One of the major problem for such a huge amount of data is storing it securely and safely. Therefore new companies as well as companies who are established in this storage as a service (SAAS) field comes into picture. This market has shown a great surge in the past few years. End user companies are preferring SAAS type of companies to safeguard their data and store them in organized manner. Market for Storage as a service is excpected to grow significantly with increasing amount of data growth in coming years. COVID has also impacted the market growth postively, as companies who are tracking COVID as well as other disease data are expected to take services of these companies globally.
Global Storage As A Service Segment Is Estimated to Witness Remarkable Growth
Source: SAI Research
The global Storage As A Service market is segmented as the service type. By service type, the global storage as a service market has been bifurcated as Cloud Backup, Cloud Archiving, and Stand-Alone And Platform-Attached Storage. In addition to hardware and physical space, the methodology for handling backups, and cost service are the key factor for the growth of the storage as a service market.
By Region, North America is Holding the Major Market Share
The global Storage As A Service Market is geographically segmented into North America, Asia Pacific, Latin America, Middle East, and Africa region. In addition to this, North America has a significant share among those regions. However, it is estimated to show that in the next forecast period, it has the highest compound annual growth rate due to some major storage as a service provider. Apart from that, the rest of regions like Europe, Asia Pacific, and others, also have a possibility to increase the growth rate in the next forecast periods.
Major Players in Global Storage As A Service Market
The report covers a detailed outlook of the company, and it includes the market share and company or industry profiles of key players operating in the global market. Key players in the report include Amazon Web services, Inc., Aptare, Inc, Buffalo Americas, Inc, Hewlett Packard Enterprise Development Lp, Hitachi Data System Corporation, IBM, Internap, Microsoft, Rackspace, Softlayer Technologies. Inc, Zadara Storage, AT&T, Dell Technologies, Rackspace Inc., and Google, among others.
The Global Storage As A Service Market Has Been Segmented into:
Global Storage As A Service Market: By Service Type
Global Storage As A Service Market: By Enterprise Type
Global Storage As A Service Market: By Storage Type
Global Storage As A Service Market: By Purpose Type
Global Storage As A Service Market: By End User Industry
Global Storage As A Service Market: By Region
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