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Global Storage as a Service Market to reach USD xx billion by the end of 2030.

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

Product Code: ICTICTS-45379102
Publish Date: 30-10-2023
Page: 200

Global Storage as a Service Market is valued approximately at USD xx billion in 2022 and is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030. 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.

According to Statista, in 2021, the cloud storage market accounts approx. USD 70.19 billion and expected to reach up to USD 376.67 billion by 2029. Furthermore, in 2022, over 60% of all corporate data is stored in the cloud as companies increasingly shift their resources into cloud environments in the hope of improving security and reliability next to advancing business agility. Another important factor driving the Storage as a Service market is increasing use of smartphones. As smartphones have become highly integrated with cloud services. Many smartphone users rely on cloud storage providers to back up their device data, synchronize files across multiple devices, and easily access their files on the go. This integration has created a demand for STaaS solutions that seamlessly integrate with smartphones, enabling convenient access to data stored in the cloud. In addition, as per Statista, the global smartphone penetration rate was estimated at 68% in 2022. 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.

Major market player included in this report are:

AT&T Inc
IBM Corporation
Google LLC
Quantum Corporation
Hewlett Packard Enterprise Development LP
Hitachi Vantara
Amazon Web Services, Inc
Microsoft Corporation
Cloudian Inc
Zadara Storage
Recent Developments in the Market:
Ø In March 2023, IBM and Wasabi Technologies have collaborated to accelerate data innovation in hybrid cloud environments. This cooperation seeks to enable organisations to operate applications in any environment – on-premises, in the cloud, or at the edge – and to enable users to access and use essential business data and analytics in real time at a low cost. The Boston Red Sox will be the first to use the combined capabilities of IBM Cloud Satellite® and Wasabi hot cloud storage, which is intended to improve the club’s operations across the board. IBM Cloud and Wasabi are both dedicated to providing their clients with resiliency, performance, security, and compliance capabilities.
Global Storage as a Service Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Service Type, Enterprise Size, Industry Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

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

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Storage as a Service Market, by region, 2020-2030 (USD Billion)
1.2.2. Storage as a Service Market, by Service Type, 2020-2030 (USD Billion)
1.2.3. Storage as a Service Market, by Enterprise Size, 2020-2030 (USD Billion)
1.2.4. Storage as a Service Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Storage as a Service Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Storage as a Service Market Dynamics
3.1. Storage as a Service Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising emergence of cloud-based storage Increasing use of smartphones
3.1.2. Market Challenges Privacy and security concerns High initial cost of storage services
3.1.3. Market Opportunities Increased adoption of archive as a service Growing volume of enterprise data
Chapter 4. Global Storage as a Service Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Storage as a Service Market, by Service Type
5.1. Market Snapshot
5.2. Global Storage as a Service Market by Service Type, Performance – Potential Analysis
5.3. Global Storage as a Service Market Estimates & Forecasts by Service Type 2020-2030 (USD Billion)
5.4. Storage as a Service Market, Sub Segment Analysis
5.4.1. Cloud NAS
5.4.2. Cloud SAN
5.4.3. Cloud Backup
5.4.4. Cloud Archiving
Chapter 6. Global Storage as a Service Market, by Enterprise Size
6.1. Market Snapshot
6.2. Global Storage as a Service Market by Enterprise Size, Performance – Potential Analysis
6.3. Global Storage as a Service Market Estimates & Forecasts by Enterprise Size 2020-2030 (USD Billion)
6.4. Storage as a Service Market, Sub Segment Analysis
6.4.1. Small & Medium Enterprises
6.4.2. Large Enterprises
Chapter 7. Global Storage as a Service Market, by Industry Vertical
7.1. Market Snapshot
7.2. Global Storage as a Service Market by Industry Vertical, Performance – Potential Analysis
7.3. Global Storage as a Service Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
7.4. Storage as a Service Market, Sub Segment Analysis
7.4.1. Media & Entertainment
7.4.2. Government
7.4.3. Healthcare
7.4.4. IT & Telecom
7.4.5. Manufacturing
7.4.6. Education
7.4.7. Others
Chapter 8. Global Storage as a Service Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Storage as a Service Market, Regional Market Snapshot
8.4. North America Storage as a Service Market
8.4.1. U.S. Storage as a Service Market Service Type breakdown estimates & forecasts, 2020-2030 Enterprise Size breakdown estimates & forecasts, 2020-2030 Industry Vertical breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Storage as a Service Market
8.5. Europe Storage as a Service Market Snapshot
8.5.1. U.K. Storage as a Service Market
8.5.2. Germany Storage as a Service Market
8.5.3. France Storage as a Service Market
8.5.4. Spain Storage as a Service Market
8.5.5. Italy Storage as a Service Market
8.5.6. Rest of Europe Storage as a Service Market
8.6. Asia-Pacific Storage as a Service Market Snapshot
8.6.1. China Storage as a Service Market
8.6.2. India Storage as a Service Market
8.6.3. Japan Storage as a Service Market
8.6.4. Australia Storage as a Service Market
8.6.5. South Korea Storage as a Service Market
8.6.6. Rest of Asia Pacific Storage as a Service Market
8.7. Latin America Storage as a Service Market Snapshot
8.7.1. Brazil Storage as a Service Market
8.7.2. Mexico Storage as a Service Market
8.8. Middle East & Africa Storage as a Service Market
8.8.1. Saudi Arabia Storage as a Service Market
8.8.2. South Africa Storage as a Service Market
8.8.3. Rest of Middle East & Africa Storage as a Service Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. AT&T Inc Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. IBM Corporation
9.3.3. Google LLC
9.3.4. Quantum Corporation
9.3.5. Hewlett Packard Enterprise Development LP
9.3.6. Hitachi Vantara
9.3.7. Amazon Web Services, Inc
9.3.8. Microsoft Corporation
9.3.9. Cloudian Inc
9.3.10. Zadara Storage
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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