Storage as a Service Industry 2019
Description:-
Storage as a service is the business model in which large enterprises rent their storage infrastructure to small enterprises. Storage as a service is mainly used by small scale industries that lack the technical personnel and capital budget to maintain and implement their own storage space. The advantages provided by storage as a service are cost saving, data security, data protection, and others.
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Key Players Analysis
New players offering storage services will continue to rise during the forecast period. This will increase the competition in the industry. Few key players are Hitachi Data Systems Corporation, Amazon Web Services (AWS) Inc., Buffalo Americas, Inc, Rackspace, Dell EMC, Internap, IBM, Microsoft, and Hewlett Packard Enterprise Development LP. Among these Amazon and Microsoft dominated the global share. These companies have higher data storage capacity and are active worldwide with strong promotional and sales force. These factors have contributed in overall sales growth of these companies.
In the last many years, over thousands of IT companies have adopted hybrid cloud storage as service systems that offers ease of storing data and simplifies the service solutions. Hybrid cloud storage has numerous benefits including better IT infrastructure and higher data security. The hybrid cloud storage as a service system also provides various advantages to consumers, such as usability, better bandwidth, accessibility, and instant recovery of data.
Based on the service type, the cloud archive segment is growing at the fastest pace during the forecast period. Cloud archive is used for long-term data retention. It holds the data that is rarely accessed, and may be optimized for compliance and security with data regulation policies. The cloud archive solution provides benefits such as ease of implementation, greater data access, data protection, reduced risks, and others, thereby creating the demand for storage as a service industry by segment.
Further, the cloud backup segment will be witnessing steady growth in the coming years. Cloud backup is a strategy used for backing up data that involves transferring the data over a public or proprietary network to an off-site server. Cloud backup helps organizations to protect their data without an increase in the workload of the information technology staff. At the same time, the cloud backup service includes direct backup to the public cloud, backup to service provider, and cloud-to-cloud backup. Owing to these factors, there is an increase in the demand for storage as a service industry by the segment.
Based on organizations type, small and medium enterprises dominated the market in 2018 and is expected to show similar trends in the coming years. The increasing use of storage as a service by small and medium enterprises for managing backups, and providing cost savings in hardware and physical and personnel space, is driving the growth of the storage as a service industry.
In terms of regions, North America accounted for the highest share in 2018. The region has good presence of large number of multinational companies that leverages IT solutions to automate most of the business process. Security concern and data management has been the top priorities of these companies. In addition, favorable regulatory compliances has created good market prospects for vendors active in North America Storage as a service market. Europe and Asia Pacific trails behind the North America. In the last few years, Asia has gained significant share owing to startups that are flourishing in South Asia including China and India. Many companies has emerged in the last few years backed with industry giants as investors. The change in structural business will drive the demand for associated industries such as vendors active in storage as a service market. Europe will continue to register stable growth during the forecast period. Minor changes are expected in other parts of world including Latin America and Middle East.
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Table Of Contents – Major Key Points
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Storage as a Service Industry Market, by Service Type
Chapter 5 Global Storage as a Service Industry Market, by Organization Size
Chapter 6 Global Storage as a Service Industry Market, by Region
Chapter 7 Competitive Intelligence
Chapter 8 Company Profiles
Continued……
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