Storage As A Service (STaaS) Market worth USD 531,512.7 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Storage As A Service (STaaS) Market by Service Type (Cloud NAS (File Storage), Cloud SAN (Block Storage), Cloud Archiving, and Cloud Backup), by Organization Size (SMEs and Large Enterprises), by Vertical (IT and Telecom, Government, BFSI, Healthcare) and by Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global Storage As A Service (STaaS) market size is expected to grow at a CAGR of 29.3% from 2023 to 2033.

The increased demand for data storage at the edge is likely to drive changes in the way in which data is stored more generally. Just as the advent of the fiber channel edge is driving innovation in edge computing, large-scale hybrid cloud infrastructures will drive progress in data management.

These changes will not happen overnight, of course, but in the long term they have the potential to transform the way edge computing works, and in turn the way that IoT networks operate. In short, organizations and companies will need to devise new ways to handle the large amount of data these edge computing devices can produce. They should also embrace hybrid cloud infrastructures as an everyday part of their business. Such factors will drive the demand for the market. This means, ultimately, that the edge computing model is likely to become even more popular in the coming years and drive innovation across the storage ecosystem. And that, as long as we can ensure security at the edge, can only be a good thing.

With the rising data integrity and data sprawl issues, companies are increasingly moving toward adopting AI to improve their data quality. Hence, while choosing STaaS solutions, companies look for Artificial Intelligence (AI) and Machine Learning (ML) capabilities in the solutions. According to the 2019 Cloud Vision 2020,: Future of Cloud study by LogicMonitor, 50% of Information Technology (IT) professionals believed that AI and ML played a significant role in adopting cloud in 2019. AI helps companies segment data based on its type, deduplicating, filtering, and consolidating the data to solve data integrity issues. Moreover, several cloud storage vendors infused AI and ML algorithms in their solutions to help their customers solve data quality issues before moving to the cloud or in the cloud. This is a major trend for other solution vendors in this ecosystem to gain a competitive advantage in the market by infusing AI and ML algorithms into their STaaS solutions.

Global Storage As A Service (STaaS) Market Segmentation

The storage as a service (STaaS) market has been segmented into service type, organization size, vertical, and region.

• By Service Type (Cloud NAS (File Storage), Cloud SAN (Block Storage), Cloud Archiving, and Cloud Backup)
• By Organization Size (SMEs and Large Enterprises)
• By Vertical (IT and Telecom, Government, BFSI, Healthcare, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Healthcare segment is projected to witness the highest CAGR during the forecast period

Healthcare segment is expected to grow at the highest CAGR of 32.7% during the forecast period. The advent of electronic health records (EHRs), medical imaging, and other digital healthcare technologies, healthcare organizations' data has surged exponentially. STaaS has allowed healthcare providers to store patient data securely in the cloud, enabling quick access and sharing of data with authorized stakeholders. This has resulted in better patient care and improved operational efficiency for healthcare organizations. The increasing need for disaster recovery solutions, data backup, and archiving is also driving the growth of the STaaS market in the healthcare sector. Healthcare providers require a reliable and secure storage system to store patient data and ensure that the data is easily accessible during an emergency or disaster. STaaS providers offer cost-effective and scalable solutions for disaster recovery and backup, which enables healthcare organizations to meet regulatory requirements and ensure the continuity of patient care.

Don't miss out on business opportunities in Storage As A Service (STaaS) Market. Speak to our research analyst and gain crucial market insights that will benefit your business grow.

Asia Pacific accounts for the highest CAGR during the forecast period

Asia Pacific is expected to witness the highest CAGR of 32.4% in the storage as a service (STaaS) market. The upsurged demand for cloud-based services, along with the rising trend of digitalization, is driving the growth of the STaaS market in the region. Also, the growing number of small and medium-sized enterprises (SMEs) in countries like India and China also contributes to the demand for STaaS solutions. The rapid adoption of emerging technologies like big data analytics, artificial intelligence, and Internet of Things (IoT) generates massive amounts of data, which must be stored and managed efficiently. This is further fueling the growth of the STaaS market in the region.

This research report includes a study on the development and marketing strategies and a study on the product portfolios and winning strategies of the leading companies operating in the storage as a service (STaaS) market. It also consists of the profiles of leading companies such as Google LLC, AT&T, International Business Machines Corporation (IBM), Dell Inc., Hitachi Vantara Corporation, Hewlett Packard Enterprise Development LP (HP), Microsoft Corporation, Quantum Corporation, Amazon Web Services, Inc., ZADARA, INC., Rackspace Technology, and Cloudian Inc. The key players' growing research and development activities for innovative solutions are expected to drive market growth.

About Market Statsville Group

Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

MSG has an entire repository of research reports on more than 1,000 niche industries, 3,000 high-growth potentials markets, 5,000 data sets, and more than 12,000 company profiles.

Contact Us:

Market Statsville Group

800 Third Avenue Suite A #1519

New York, US 10022

USA: +1 646-663-5829 | +91 702 496 8807

Email: sales@marketstatsville.com

Web: www.marketstatsville.com