MarketersMEDIA / Newsroom / Storage As A Service Market 2019: CAGR Of 29.9% Growth Predicted in Coming Years

Storage As A Service Market 2019: CAGR Of 29.9% Growth Predicted in Coming Years

Share This Press Release

Storage as a service is the business model in which large enterprises rent their storage infrastructure to small enterprises.

— The global storage as a service industry market is expected to witness growth with a CAGR of 29.9% during the forecast period. The storage as a service is a service where data is remotely managed, backed up, and maintained. The service enables users to access data from any location by allowing them to store their files online.

An increase in the adoption of hybrid cloud storage system by organizations is driving the growth of the storage as a service industry in recent years. The hybrid cloud storage system enables organizations to select flexible storage solutions for each workgroup or workload. The benefits of deploying hybrid cloud storage includes improved data management, better security for storage of data, and enhanced IT infrastructure flexibility and management. Thus, various companies are now adopting hybrid cloud storage in order to enhance their storage capabilities, which is driving the growth of the storage as a service market.

Download Sample Of This Report : https://www.alltheresearch.com/sample-request/68

In addition to this, an increase in the adoption of big data analytics is also one of the major factors that is driving the growth of the storage as a service market. Big data analytics refers to the complex process of examining varied and large data sets to reveal information about unknown correlations, customer preferences, hidden patterns, and market trends, which help organizations in making informed business decisions.

However, bandwidth limitation is retraining the growth of the storage as a service market in recent years. At the same time, the problem with accessibility during the absence of internet connection is obstructing the growth of the storage as a service industry.

Ask For Customization: https://www.alltheresearch.com/customization/68

The major key players in the storage as a service market are IBM Corporation, Internap Corporation, Hewlett Packard Enterprise Development LP, Microsoft Corporation, APTARE, Inc., Amazon Web Services, Inc., Rackspace Inc., Hitachi Data Systems Corporation, SoftLayer Technologies. Inc., Buffalo Americas, Inc., and others. Companies operating in this market are concentrating on research and development, along with acquisitions & mergers and innovations in products, in order to strengthen their market share.

For instance, in April 2018, Nexenta, the global leader in open source-driven software defined storage, announced the use of Amazon Web Service Inc.’s cloud to extend its software-defined storage service to a hybrid model. In May 2018, IBM Corporation announced the launch of new IBM Storage Insights, a cloud-based and AI storage management platform which provides fast storage capacity and performance. IBM Storage Insights helps customers in achieving greater efficiency and cost saving from their multi cloud, multitier storage environment.

About AlltheResearch:

AllTheResearch was formed with the aim of making market research a significant tool for managing breakthroughs in the industry. As a leading market research provider, the firm empowers its global clients with business-critical research solutions. The outcome of our study of numerous companies that rely on market research and consulting data for their decision-making made us realise, that its not just sheer data-points, but the right analysis that creates a difference.

Contact Info:
Name: Rohit B.
Email: Send Email
Organization: Inforgrowth
Address: 6400 Village Pkwy suite 104
Phone: 9093292808
Website: https://alltheresearch.com

Source URL: https://marketersmedia.com/storage-as-a-service-market-2019-cagr-of-299-growth-predicted-in-coming-years/88924628

Source: MarketersMedia

Release ID: 88924628

Latest Releases

Subscribe and Receive exclusive insider tips and tricks on Press Release.

Follow Us

Copyright © 2012 - 2019 MarketersMEDIA – Press Release Distribution Services – News Release Distribution Services. All Rights Reserved.

Powered by Semantics BigData Analytics (SBDA).