Press release
Global Storage As a Service (Staas) Market Size To Reach USD 137.37 Billion By 2028 | Hitachi Vantara, Cloudian, Quantum Corporation
The global Storage as a Service (STaaS) Market size was valued at USD 43.26 Billion in 2021 and is projected to reach USD 137.37 Billion by 2028, growing at a CAGR of 26.5% from 2022 to 2028, Analysis Period 2023-2030
Storage as a Service (STaaS), also known as hosted storage, is a subscription-based model where companies or individuals can lease or rent storage infrastructure to store their data. It offers a cost-effective alternative to building private storage infrastructure. The industry primarily employs three types of data storage: block, file, and object storage. The demand for Storage as a Service is driven by the exponential growth of data generated by organizations worldwide, coupled with the increasing usage of mobile devices, tablets, and other similar devices, contributing to the market's expansion.
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Top Key Players Covered In Storage as a Service (STaaS) Market
• Hitachi Vantara
• Zadara Storage
• Cloudian
• Quantum Corporation
• AWS
• IBM Corporation
• Microsoft
• HPE
• AT&T
• Dell Technologies
• Rackspace Inc. and other major players.
Market Dynamics:
Driver:
The Storage as a Service (STaaS) market is driven by the increasing demand from the smartphone sector. As smartphones become more ubiquitous and mobile applications gain popularity, the need for storage solutions to cater to the growing data requirements of smartphone users rises substantially. The market for STaaS is expected to witness continued growth as smartphone users increasingly rely on their devices for various tasks, resulting in the generation of larger volumes of data. This ongoing trend propels the expansion of the Storage as a Service market.
Opportunities:
Increased investment in digitalizing IT infrastructure creates promising opportunities in the Storage as a Service (STaaS) market. As organizations increasingly realize the benefits of digital transformation, they are dedicating resources to enhance their IT infrastructure and support modern technologies and workflows. This investment creates a favorable landscape for the adoption of STaaS, as businesses seek cost-effective and scalable storage solutions to meet their evolving digital needs. Consequently, the STaaS market experiences substantial growth prospects, enabling service providers to meet the rising demand for cloud-based storage services and contribute to market expansion.
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Market Segmentation
By Service Type
Cloud NAS
Cloud SAN
Cloud Backup
Cloud Archiving
By Enterprise Size
Small & Medium Enterprises
Large Enterprises
By End-User
BFSI
IT & Telecommunication
Retail
Healthcare
Manufacturing
Others
By Region
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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Key Industry Development In The Storage as a Service (STaaS) Market
In May 2021, Hewlett Packard Enterprise launched the new transform HPE Storage into a cloud-native, software-defined data services business. HPE developed a data services platform that delivers on its Unified DataOps vision for a new data experience that brings a cloud operations model to wherever data lives and unifies data operations.
The report provides comprehensive details about demand forecasts, market trends, and both micro and macro indicators. The Storage as a Service market report also gives information about the factors that are making this market grow and the objects that are holding it back. Using tools like Porter's five forces analysis, Industry Value chain analysis, and PESTEL analysis of the Storage as a Service market, the report provides details about the market. The research also depicts current market trends and gives forecasts for 2023-2029. We've also highlighted future developments in the market that will affect the demand during the period of the forecast. Also, the competitive analysis for each regional market indicates how much of the market the top players have. We gathered information from Storage as a Service manufacturers or service providers, distributors, end users, industry associations, government-industry bureaus, industry publications, third-party databases, and our databases, which were evaluated by industry experts.
Questionnaires answered in the Storage as a Service Market report include:
Q1. What are the biggest challenges the global Storage as a Service markets will face in the near future?
Q2. Can I ask for different company profiles?
Q3. What are the criteria used for selecting a company profile?
Q4. Which crucial factors are accountable for the robust growth of the global Storage as a Service Market?
Q5. What are the present and future outlooks of the Storage as a Service based on geographical regions?
Q6. What is the Unique Selling Point (USP) for the Storage as a Service market report?
Q7. What is the Storage as a Service market size?
Q8. Why are Storage as a Service Market so popular?
Q9. Why is the consumption of Storage as a Service highest in the region?
Q10. What are the estimated figures for the overall market in the coming few years?
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Related Reports:
https://introspectivemarketresearch.com/reports/compliance-as-a-service-market/
https://introspectivemarketresearch.com/reports/security-as-a-service-market/
https://introspectivemarketresearch.com/reports/lighting-as-a-service-market/
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