Storage as a service (STaaS) is a business model in which a large company rents space in their storage infrastructure to a smaller company or individual. Storage as a service allows data to be remotely managed, maintained, and backed. Service level agreements (SLAs) are signed between the concerned parties to encourage this migration. The service can be accessed through any network, typically over the internet. STaaS is one among several cloud-based service offerings currently being utilized by many enterprises.
Increasing need of cloud-based storage system is a key factor to drive growth of the global storage as a service market. In addition, cost saving service, suitable methodology for handling backups, and hardware and physical space are some other factors to boost growth of the global storage as a service market. Also, growing rate of social media, mobility, analytics, cloud, and internet of things helps to grow global storage as a service market over the forecast period.
However, issues related to cloud security is a major factor to hamper growth of the global storage as a service market. Also, lack of space in data centres to deal with increasing demand for space, bandwidth limitation, and interoperability issues are some other factors expected to restrain growth of the global storage as a service market over the forecast period.
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The global storage as a service market is segmented on the basis of technology and region. On the basis of region, the global storage as a service market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Currently, the market in North America dominates the global storage as a service market in revenue terms. This is attributed to growing need for backup and data archiving in the cloud in the region. Asia Pacific storage as a service market is still in its nascent stage; however, with a growing approval rate, scope for the storage as a service market in the country is expected to grow over the forecast period.
Prominent players in the global storage as a service market include AT&T, AWS, Google, HPE, IBM, Microsoft, Arsys, CenturyLink, Cloudian, CSC, Egnyte, iomart Group, Iron Mountain, Joyent, Nasuni, and Quantum.
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