With the emergence and long-term Impact of COVID-19, the Global Storage as a Service Market is to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Storage as a Service Market is poised to raise up to USD XX Billion by 2030. Storage as a Service is a cloud computing model in which a third-party service provider offers storage infrastructure and services to organizations or individuals. Instead of managing their own physical storage infrastructure, users can leverage the storage resources provided by the service provider over a network connection. The Storage as a Service market is expanding because of factors such as rising emergence of cloud-based storage and increased use of smartphones.
Storage as a Service offers scalability to meet changing storage requirements. As users can easily scale up or down their storage capacity based on their needs, without the need for upfront investments or hardware provisioning. This flexibility allows organizations to adapt to dynamic data storage demands. Its importance has progressively increased during the forecast period 2023-2030. Moreover, increased adoption of archive as a service and growing volume of enterprise data is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, privacy and security concerns and high initial cost stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Storage as a Service Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growth in cloud computing applications and rise in demand for cloud-based business within the region. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to surge in e-commerce industry in this region.
The global Storage as a Service Market is highly competitive owing to the presence of several key manufacturers such as AT&T Inc, IBM Corporation, Google LLC, Quantum Corporation, Hewlett Packard Enterprise Development LP, Hitachi Vantara, Amazon Web Services, Inc, and others.
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Global Storage as a Service Market Size study & Forecast, by Service Type (Cloud NAS, Cloud SAN, Cloud Backup, Cloud Archiving) By Enterprise Size (Small & Medium Enterprises, Large Enterprises) By Industry Vertical (Media & Entertainment, Government, Healthcare, IT & Telecom, Manufacturing, Education, Others) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Storage as a Service Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the enterprise size segment, large enterprise emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to growth in cloud computing applications.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Service Type
- Cloud NAS
- Cloud SAN
- Cloud Backup
- Cloud Archiving
By Enterprise Size
- Small & Medium Enterprises
- Large Enterprises
By Industry Vertical
- Media & Entertainment
- IT & Telecom
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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