Storage as a service (STaaS) is a managed service in which the provider supplies the customer with access to a data storage platform. The service can be delivered on premises from infrastructure that is dedicated to a single customer, or it can be delivered from the public cloud as a shared service that's purchased by subscription and is billed according to one or more usage metrics.
STaaS customers access individual storage services through standard system interface protocols or application program interfaces (APIs). Typical offerings include bare-metal storage capacity; raw storage volumes; network file systems; storage objects; and storage applications that support file sharing and backup lifecycle management. Moreover, STaaS was originally seen as a cost-effective way for small and mid-size businesses that lacked the technical personnel and capital budget to implement and maintain their own storage infrastructure. Hence, companies of all sizes use storage as a service.
The key drivers for storage as a market are the need to orchestrate cloud-based storage systems, the need to gather, manage and extract value from big data, the increased need for data archiving and government requirements. However, cloud data security concern, bandwidth limitations, and interoperability issues are restricting the growth of the storage as a service market. Moreover, increasing availability of digital infrastructure and the growing usage of mobile devices are anticipated to propel the growth of global storage as a service market during the forecast period. In addition, the surge in technological advancements, which in turn is expected to create numerous opportunities for the market growth in the upcoming years. Furthermore, increasing demand of digital solution and rise in integration of industry 4.0, which creates lucrative opportunities for storage as a service during the forecast period.
The storage as a service market is segmented on the basis of type, organization size, application and region. According to the type, the market is classified into cloud NAS, cloud SAN, cloud backup and cloud archiving. Based on the organization size, the market is classified into small and medium-sized enterprises and large enterprises. On the basis of application, the market is classified into BFSI, IT and telecom, retail & e-commerce, healthcare, government, media entertainment and others. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the storage as a service market are IBM Corporation, Microsoft Corporation, AWS Inc., HPE, Google LLC, Dell Technologies, Rackspace Inc., AT&T, Quantum Corporation, and Cloudian, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the storage as a service market globally.
STaaS customers access individual storage services through standard system interface protocols or application program interfaces (APIs). Typical offerings include bare-metal storage capacity; raw storage volumes; network file systems; storage objects; and storage applications that support file sharing and backup lifecycle management. Moreover, STaaS was originally seen as a cost-effective way for small and mid-size businesses that lacked the technical personnel and capital budget to implement and maintain their own storage infrastructure. Hence, companies of all sizes use storage as a service.
The key drivers for storage as a market are the need to orchestrate cloud-based storage systems, the need to gather, manage and extract value from big data, the increased need for data archiving and government requirements. However, cloud data security concern, bandwidth limitations, and interoperability issues are restricting the growth of the storage as a service market. Moreover, increasing availability of digital infrastructure and the growing usage of mobile devices are anticipated to propel the growth of global storage as a service market during the forecast period. In addition, the surge in technological advancements, which in turn is expected to create numerous opportunities for the market growth in the upcoming years. Furthermore, increasing demand of digital solution and rise in integration of industry 4.0, which creates lucrative opportunities for storage as a service during the forecast period.
The storage as a service market is segmented on the basis of type, organization size, application and region. According to the type, the market is classified into cloud NAS, cloud SAN, cloud backup and cloud archiving. Based on the organization size, the market is classified into small and medium-sized enterprises and large enterprises. On the basis of application, the market is classified into BFSI, IT and telecom, retail & e-commerce, healthcare, government, media entertainment and others. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the storage as a service market are IBM Corporation, Microsoft Corporation, AWS Inc., HPE, Google LLC, Dell Technologies, Rackspace Inc., AT&T, Quantum Corporation, and Cloudian, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the storage as a service market globally.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global storage as a service market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global storage as a service market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
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- Investment Opportunities
- Technology Trend Analysis
- Regulatory Guidelines
- Strategic Recommedations
- SWOT Analysis
Key Market Segments
By Type
- Cloud NAS
- Cloud SAN
- Cloud Backup
- Cloud Archiving
By Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises
By Application
- IT and Telecom
- BFSI
- Retail and E-commerce
- Healthcare
- Government
- Media and Entertainment
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- Cloudian, Inc.
- IBM Corporation
- Amazon Web Services, Inc.
- Quantum Corporation
- AT&T
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- Dell Technologies
- Hewlett Packard Enterprise Development LP
- Rackspace Techonology
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: STORAGE AS A SERVICE MARKET, BY TYPE
CHAPTER 5: STORAGE AS A SERVICE MARKET, BY ENTERPRISE SIZE
CHAPTER 6: STORAGE AS A SERVICE MARKET, BY APPLICATION
CHAPTER 7: STORAGE AS A SERVICE MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the storage as a service market was valued at $34 billion in 2022, and is estimated to reach $396.5 billion by 2032, growing at a CAGR of 28.2% from 2023 to 2032.The Storage as a Service Market is likely to experience a significant growth rate of 28.2% from 2023-2032, owing to the rise in market demand for storage as a service in IT and Telecom sector
Storage as a service (STaaS) is a managed service in which the provider supplies the customer with access to a data storage platform. The service can be delivered on premises from infrastructure that is dedicated to a single customer, or it can be delivered from the public cloud as a shared service that's purchased by subscription and is billed according to one or more usage metrics.
STaaS customers access individual storage services through standard system interface protocols or application program interfaces (APIs). Typical offerings include bare-metal storage capacity; raw storage volumes; network file systems; storage objects; and storage applications that support file sharing and backup lifecycle management. Moreover, STaaS was originally seen as a cost-effective way for small and mid-size businesses that lacked the technical personnel and capital budget to implement and maintain their own storage infrastructure. Hence, companies of all sizes use storage as a service.
The key drivers for storage as a market are the need to orchestrate cloud-based storage systems, the need to gather, manage and extract value from big data, the increased need for data archiving and government requirements. However, cloud data security concern, bandwidth limitations, and interoperability issues are restricting the growth of the storage as a service market. Moreover, increasing availability of digital infrastructure and the growing usage of mobile devices are anticipated to propel the growth of global storage as a service market during the forecast period. In addition, the surge in technological advancements, which in turn is expected to create numerous opportunities for the market growth in the upcoming years. Furthermore, increasing demand of digital solution and rise in integration of industry 4.0, which creates lucrative opportunities for storage as a service during the forecast period.
The storage as a service market is segmented on the basis of type, organization size, application and region. According to the type, the market is classified into cloud NAS, cloud SAN, cloud backup and cloud archiving. Based on the organization size, the market is classified into small and medium-sized enterprises and large enterprises. On the basis of application, the market is classified into BFSI, IT and telecom, retail & e-commerce, healthcare, government, media entertainment and others. In addition, it analyzes the current market trends across different regions such as North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the global Storage as a service market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include IBM Corporation, Microsoft Corporation, AWS Inc., HPE, Google LLC, Dell Technologies, Rackspace Inc., AT&T, Quantum Corporation, and Cloudian, Inc For instance, in July 2023, DigiBoxx launched a new data storage solution namely, Megh3 for corporates and individuals. It provides customers with fast, simple, elastic storage solutions at their fingertips at attractive pricing, combining both simplicity and affordability, the domestic software as a service (SaaS) based digital storage platform. In addition, in September 2023, Amazon Web Services launched seven new cloud storage offerings and features to improve AI and ML workloads, data protection and resiliency, and new support for NetApp, Cloudfare and Oracle storage products. Such instances are further expected to provide lucrative opportunities for the global market.
Key Market Insights
By type, the cloud backup segment was the highest revenue contributor to the market in 2022, and is estimated to reach $123.48 billion by 2032, with a CAGR of 25.0%. However, the cloud archiving segment is expected to be the fastest-growing segment during the forecast period.By Enterprise Size, the Large Enterprises segment was the highest revenue contributor to the market in 2022, and is estimated to reach $242.03 billion by 2032, with a CAGR of 26.9%. However, the small and medium-sized enterprises segment is estimated to be the fastest-growing segment with a CAGR of 30.7% during the forecast period.
By application, the IT and telecom sector was the highest revenue contributor to the market in 2022, and is estimated to reach $84.98 billion by 2032, with a CAGR of 16.4%. However, the healthcare sector is estimated to be the fastest-growing segment during the forecast period.
Region-wise, North America was the highest revenue contributor, accounting for $12.63 billion in 2022 and is estimated to reach $116.65 billion by 2032, with a CAGR of 25.2%.
Companies Mentioned
- Cloudian, Inc.
- IBM Corporation
- Amazon Web Services, Inc.
- Quantum Corporation
- AT&T
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- Dell Technologies
- Hewlett Packard Enterprise Development LP
- Rackspace Techonology
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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