Storage as a Service Market Size And Forecast
According to Verified Market Research, Global Storage as a Service Market was valued at USD 11.63 Billion in 2018 and is projected to reach USD 100.21 Billion by 2026, growing at a CAGR of 31.5% from 2019 to 2026.

The latest survey on Global Storage as a Service Market is conducted covering various organizations of the industry from different geographies to come up with a 100+ page report. The study is a perfect mix of qualitative and quantitative information highlighting key market developments, challenges that industry and competition are facing along with gap analysis and new opportunity available and trend in the Storage as a Service Market. The report bridges the historical data from 2013 to 2018 and forecasted till 2026. The report aims to present the analysis of Global Storage as a Service Market By Type, By Application, By Region – North America, Europe, South America, Asia-Pacific, Middle East, and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities.

What is Storage as a Service?
Storage as a Service (also referred to as hosted storage) can be defined as a business model in which a company, usually large, rents leases or rents its storage infrastructure to another company or individuals to store data. Small companies and individuals often find this to be a suitable method for managing backups, as well as for providing cost savings in personnel, hardware and physical space. A company providing storage as a service may be called a storage service provider (SSP).

Storage as a Service is generally viewed as a good alternative for a small to mid-sized business that does not have the capital budget or the technical personnel to implement and maintain their own storage infrastructure. Storage as a Service is also known as a way for all businesses to mitigate risks in disaster recovery, provide long-term retention for records and enhance both business continuity and availability.

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Global Storage as a Service Market Overview
Organizations worldwide are confronted with huge data volumes generated internally. This volume is further amplified by the use of social media and the cloud. With the increased use of mobile devices such as smartphones and tablets by customers and employees, companies face added challenges of handling a variety of structured and unstructured data. Organizations are taking the help of enterprise storage service players to address this complexity. This has resulted in rising in the adoption of storage as a service among companies that in turn boosts the market.

Moreover, the increased need for the cost-effective business process also acts as a driving factor for the growth of the market. However, issues associated with bandwidth and interoperative might act as a restraint for the growth of the storage as a service market at a global level.

Global Storage as a Service Market: Segmentation
The Storage as a Service market is segmented on the basis of type, application, and geography.

Storage as a Service Market By Type:
On the basis of type, the market is bifurcated into Cloud Backup, Cloud Archiving, and Stand-Alone & Platform-Attached Storage.

 The market for Cloud Archiving is expected to grow at the highest CAGR over the forecast period. Cloud-based data archiving is different from cloud backup. The archive consists of data that is infrequently accessed and may be optimized for security and compliance with data regulation policies. Storing archived data in a cloud proves more cost-effective compared with storing and maintaining large chunks of non-critical data in an on-premise infrastructure.

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Storage as a Service Market By Geography:
 On the basis of regional analysis, the global Storage as a Service market is classified into North America, Europe, Asia Pacific and Rest of the world. The Storage as a Service market in the Asia Pacific region is projected to grow at the highest CAGR over the forecast period owing to rising adoption of storage as a service among companies of various industries in this region.
The major players in the market are AT&T, AWS, Google, Microsoft, Hewlett-Packard Enterprise Group (HPE)and IBM

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