Lewes, DE -- (SBWIRE) -- 07/12/2016 -- Report forecast the global storage as a service market to grow at a CAGR of 29.59% during the period 2016-2020.

Storage as a service allows data to be remotely managed, maintained, and backed. Users can store and access any data from any location. The services can be accessed through any network, typically over the Internet. Cloud-based storage reduces the capital expenditure (CAPEX) and gives an ease of access; however, enterprises need to be aware that data need to be locally backed up because recovering data from cloud is comparatively slower.

Even though there are some disadvantages to cloud storage, the majority of enterprises believe that the benefits offset the risks. Cloud-based storage provides low-cost metered storage option. The cost of on-premise storage per gigabyte per month ranges from 75 cents to $1.20 compared to cloud storage that can be as low as 4 cents/GB/month.

The report covers the present scenario and the growth prospects of the global storage as a service market for 2016-2020. To calculate the market size, we consider revenue generated from storage as a service vendors. We also consider enterprises' spending on storage as a service solution such as cloud storage solutions for disaster recovery and data archiving solutions and services.

The market is divided into the following segments based on geography:

- Americas
- APAC
- EMEA

According to the report, a key growth driver is the need to orchestrate cloud-based storage systems. Orchestration of cloud-based storage services is required to automate the data allocation process in cloud-based database management systems. The advent of new technologies such as OpenStack has automated the data storage process in the client's IT ecosystem. Cloud orchestration solutions align and coordinate the resource provisioning process in the cloud-based database. Orchestration solutions helps enterprises reduce costs and improve efficiency in the digital content management solutions. Enterprises seek cloud-based storage solutions that can eliminate the need to buy non-premise IT resources continuously to store organizational documents.

Further, the report states that one challenge that could hamper market growth is bandwidth limitations.

Global Storage as a Service Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the global storage as a service market: AT&T, AWS, Google, HPE, IBM, and Microsoft.

Other Prominent Vendors in the market are: Arsys, CenturyLink, Cloudian, CSC, Egnyte, iomart Group, Iron Mountain, Joyent, Nasuni, NTT, Peer 1 Hosting, Quantum, Rackspace, Swisscom, Verizon Communications (Terremark), and Zetta.net.

Market driver
- Need to orchestrate cloud-based storage systems
- For a full, detailed list, view our report

Market challenge
- Bandwidth limitations
- For a full, detailed list, view our report

Market trend
- Need to orchestrate cloud-based storage systems
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 77 pages and 26 Exhibit "Global Storage as a Service Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by technology, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-storage-service-market-2016-2020

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