Global Storage As A Service Market To Exhibit 29.59% CAGR 2016-2020 As Need For Data Archiving Rises

MarketResearchReports.biz announces the addition of a new research study to its comprehensive collection of research reports. The research study, titled “Global Storage as a Service Market 2016-2020,” offers an in-depth analysis of the market, focusing on the market dynamics expected to influence the growth of the market in the next few years. The product portfolio, key geographical segments, and the competitive scenario of the global market for storage as a service have been discussed in the research study.

As per the research study, the global storage as a service market is projected to register an impressive 29.59% CAGR between 2016 and 2020. The historical information and estimated statistics of the market are presented in the research study along with strategic inputs that are projected to guide the decision-makers and key players in formulating effective company policies in the coming few years.

The growing need for data archiving and organizing cloud-based storage systems is estimated to boost the demand for storage as a service solutions worldwide throughout the forecast period. In addition, compliance, governance, and risk requirements and the rising need to manage, gather, and extract value from big data are estimated to propel the overall storage as a service market in the coming few years. However, interoperability concerns, bandwidth limitations, and cloud data security concerns are some of the factors curtailing the growth of the overall market.

By technology, the global storage as a service market has been classified into cloud backup, standalone and platform-attached storage, and cloud archiving. As per the report, the cloud archiving segment is estimated to register a remarkable 37% CAGR between 2016 and 2020. The ability to offer long-term data retention as per the policies of data regulation and high security is stimulating the growth of this segment.

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As per the study, in 2015, the Americas held a 48% share in the global market for storage as a service and are estimated to remain in the leading position till the end of 2020. The growing requirement for backup is anticipated to accelerate the growth of the storage as a service market in the Americas. Moreover, the adoption of cloud-based storage solutions in diverse industries such as healthcare, BFSI, and education is expected to drive the growth of the market in the Americas.

The global market for storage as a service is highly competitive owing to the presence of several players in the market. The start-up culture behind storage solutions has strengthened the competition in the market. The leading players in the global storage as a service market are HPE, IBM, AT&T, AWS, Google, and Microsoft. Some of the other players active in the global storage as a service market are Swisscom, Joyent, Nasuni, Zetta.net, Iron Mountain, Rackspace, iomart Group, Quantum, Cloudian, Egnyte, NTT, Peer 1 Hosting, CenturyLink, Verizon Terremark, Arsys, and CSC.

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