Storage as a Service Market Analysis by Advanced Technology, Trends, Forecasts to 2032 | AWS Inc., HPE, Google LLC

WILMINGTON, DE, UNITED STATES, April 4, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Storage as a Service Market, by Type, by Enterprise Size, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032.

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.

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The storage as service (StaaS) market is witnessing several key trends including growing demand for cloud-native solutions, as businesses increasingly shift their data storage to cloud platforms for scalability and cost-efficiency. Furthermore, multi-cloud and hybrid cloud storage strategies are on the rise, allowing businesses to combine public and private cloud solutions for greater flexibility. Such factors are expected to provide the lucrative opportunities for the market growth during the forecast period.

In addition, increasing demand for remote work and digital collaboration continues to evolve, there's a heightened emphasis on remote access and data sharing capabilities, thus, fueling the demand for STaaS solutions trends. These trends collectively reflect a evolving landscape in the STaaS industry as it adapts to the changing needs and preferences of businesses and consumers. For instance, in October 2023, Microsoft Corporation's Azure storage upgraded its services to offer highly available, massively scalable, durable, and secure storage for a variety of data objects in the cloud.

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Competitive Analysis:
The competitive environment of Storage as a Service Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Storage as a Service Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
IBM Corporation
Microsoft Corporation
AWS Inc.
HPE
Google LLC
Dell Technologies
Rackspace Inc.
AT&T
Quantum Corporation
Cloudian, Inc and Many More

Region wise, North America dominated the market share in 2022 for the Storage as a service market. The adoption of Storage as a service growing steadily to meet increasing demands from today's businesses to enhance their business process and improve the customer experience will provide lucrative opportunities for the market in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to the increase in penetration of advanced technology such as AI/ML big data and others, which is particularly fueling regional market growth. In addition, surge in digitalization toward business operation, is projected to provide lucrative growth opportunities for the market in Asia-Pacific region.

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The COVID-19 pandemic has accelerated the adoption of storage as a service (STaaS) as organizations across various industries faced unique challenges related to data management during the crisis. The increased need for remote work and online collaboration spurred a surge in data creation and storage requirements. STaaS provided a critical solution by enabling companies to scale their storage capacity rapidly and cost-effectively without the need for extensive on-premises infrastructure. This surge in remote work also emphasized the significance of data security and accessibility. STaaS offers robust data security measures and the ability to access critical data from anywhere, addressing the immediate need for secure remote access to important information.

Table of Content:
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

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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