Storage as a Service Market is Expected to Grow to USD 49.54 Bn by 2027 at a CAGR of 16.1% - AllTheResearch

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Pleasanton, CA, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The Global Storage as a Service Market research report added by AllTheResearch provides you the brief information about market size, share and dynamics covered in 100+ pages and is an illustrative sample demonstrating market trends. The Storage as a Service Market report entails a comprehensive database on future market estimation based on historical data analysis. It enables the clients with quantified data for current market scenario. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments, and regional analysis.

The Storage as a Service Market size was valued at US$ 17.30 Bn in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 16.1% for the forecast period ending 2027 reaching a Market value of US$ 49.54 Bn.

Increasing demand for storage as a service from the smartphone sector is anticipated to drive the market growth throughout the forecast period. With the proliferation of smartphones, market trends shifted towards applications that demand more storage space and computing power. Additionally, businesses desire to increase efficiency with less resources to reduce costs and make the best use of cloud resources. Thus, the use of cloud storage is expected to support the market demand in the near future.

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Storage as a Service Market Report Outline:

The report contains brief information on the key players like Amazon Web Services (AWS), Microsoft Corporation, Sync.com Inc., Google (Alphabet Inc.), IBM Corporation, Hubic (OVH), Mediafire, and more in the Storage as a Service industry operating on the Market. The report provides in-depth information on the industry overview, the share of revenues, developments, mergers and acquisitions, and key strategies. The report also includes a full analysis of product innovation and consumer behavior. The Storage as a Service market has been segmented by commodity type, end-users, technology, industry verticals, and regions. The in-depth research will allow readers to better understand well-established and emerging players in shaping their business strategies to achieve long-term and short-term goals. The report outlines a wide range of areas and locations where key participants could identify opportunities for the future.

The Major Companies Covered in Storage as a Service Market Report are:

Amazon Web Services (AWS), Microsoft Corporation, Sync.com Inc., Google (Alphabet Inc.), IBM Corporation, Hubic (OVH), Mediafire, Apple Inc., Dropbox Inc, Box, Inc., HP Development Company, L.P., pCloud AG, Rackspace Inc., Hitachi Data Systems Corporation, SoftLayer Technologies. Inc., Buffalo Americas, Inc., and more.

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The Global Storage as a Service Market Segmentation:

By Service Type

  • Cloud Backup
  • Cloud Archiving
  • Standalone & platform attached storage

By Component

  • Hardware
  • Services

By Enterprise Type

  • Small & Medium size Enterprises (SME’s)
  • Large Enterprise

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Key Findings of this report are:

  • Based on service type, the cloud archiving segment held the largest market share during the forecast period
  • Based on enterprise type, the small & medium size enterprise segment held the largest market share in 2020
  • Based on region, North America is expected to dominate the storage as a service market during the forecast period

Regional Analysis of Storage as a Service Market:

The global storage as a service market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest market share in the storage as a service market owing to the presence of mature key players providing cloud services, such as Microsoft, Google and others. Innovations from these players are expected to boost the storage as a service market growth during the forecast period. For instance, Google in 2021, launched the upgrades various cloud services such as Google distributed cloud space, and Google Workspace. Additionally, the increase in number of software investments is anticipated to bolster the demand for software as a service.

Additionally, Asia-Pacific is expected to significantly contribute to the market growth during the forecast period. The launch of government projects for various services is expected to boost the market growth in the near future.

Impact of COVID-19 on Storage as a Service Market:

Technology was a clear winner in the severe times of covid-19. All the businesses in the global market and their efforts to make their sales continue supported the market demand for storage as a service. The covid-19 pandemic has slowed offline cloud businesses simultaneously it has accelerated cloud adoption and generated new business models and cloud usage habits, contributing to the continued growth of the public cloud industry.

Additionally, the e-commerce industry has grown exponentially as more people have shifted to shopping online, as well as video-streaming services, with more people staying at home and lacking other entertainment options. To retain their customer base, traditional retail stores have shifted to online ordering, BOPIS (Buy Online, Pick Up in Store), and home deliveries. This was accomplished through cloud adoption in the storage as a service market.

Key Aspects of Storage as a Service Market Report Indicated:

  1. Market Introduction
  2. Research Methodology
  3. Executive Summary
  4. Premium Insights
    1. Key Trend Analysis
    2. New revenue Pockets
    3. Pain Point Analysis
    4. Company Market Share Analysis, by region
    5. Strategies Adopted-Benchmarking Heat Map
    6. Regulatory Landscape
    7. PESTEL Analysis
    8. Regional Lifecycle
    9. Competitive Benchmarking
  5. Market Overview & Competitive Landscape
  6. Market Segmentation (Market Size and Share Analysis)
  7. Market Dynamics
    1. Market Drivers
    2. Opportunities
    3. Value Chain Analysis
    4. Pricing Analysis
  8. COVID – 19 Opportunity Mapping
    1. Key Drivers & Anticipated Revival Period
    2. Key Trends Analysis
    3. Impact on End user Industry
    4. Opportunity Analysis
  9. Regional Market Analysis
  10. Company Profiles

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Frequently Asked Questions:

  • What are the key factors driving Storage as a Service Market expansion?
  • What will be the value of Storage as a Service Market during 2021- 2027?
  • Which region will make notable contributions towards global Storage as a Service Market revenue?
  • What are the key players leveraging Storage as a Service Market growth?

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