Valley Cottage, NY -- (SBWIRE) -- 09/24/2018 -- Nowadays, with the increase in technological advancements, enterprises are using storage as a service technology, to save and secure their data. The modern world is experiencing connected technology and devices with the help of the Internet. Mostly large and medium size companies use storage as a service technology, in which they rent a space in their storage infrastructure. To store a data or to secure it from external malwares, the convenient way to manage backups is storage as a service. The storage as a service offers various advantages to consumers, such as it is cost saving, efficient, easy to operate, and can be used in many industries to store or secure data. The storage as a service is adopted by many small and medium-sized businesses because these enterprises can reduce annual operating costs by using storage as a service technology. Usually, the storage as a service technology costs about 3 cents per gigabyte to store data.

As technology is transforming in a smarter ways, technology in storage as a service are developing intelligently by providing centralized access to multiple PCs and laptops, and also have a proactive approach to energy saving. These days, storage as a service are being used by the healthcare, and business sectors to store data. These networks have become one of the most important topics for scientists to research on.

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Storage as a service is highly beneficial for SMBs, due to lower costs to maintain and better output. Storage as a service helps enterprises in recovery of data and also in reducing risks.

Storage as a Service Market: Drivers and Challenges

Drivers

Nowadays, several IT companies are adopting hybrid cloud storage as a service systems, which enables to select a flexible storage as a service solution. Hybrid cloud storage as a service provide benefits, such as enhanced IT infrastructure management and flexibility, enhanced security for data management. The hybrid cloud storage as a service system also provides various advantages to consumers, such as usability, better bandwidth, accessibility, and instant recovery of data. These are the primary factors which are driving the storage as a service market in different regions.

Challenges

The IT and telecom industry is an important field for storage as a service technology development. So, the integration of various technology, such as downtime, security, privacy, limited control, are the major concerns in deploying storage as a service. Another primary challenge that can be faced by storage as a service technology is the privacy of data. As the devices are connected smartly with cloud, the security and privacy of data is becoming the main issue for scientists.

Global Storage as a Service Market: Segmentation

Segmentation of the storage as a service market on the basis of service type:

Cloud Backup
Cloud Archiving
Platform-Attached Storage
Segmentation of the storage as a service market on the basis of Enterprises:

Small and medium enterprises (SMBs)
Large enterprises
Global Storage as a Service Market: Competition Landscape

Examples of some of the market participants in the global storage as a service market identified across the value chain includes: Amazon Web Services (AWS) Inc., IBM, Dell EMC, Internap, Rackspace, Microsoft, APTARE, Inc., Hitachi Data Systems Corporation, Buffalo Americas, Inc. and Hewlett Packard Enterprise Development LP.

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Global Storage as a Service Market: Regional Overview

On the basis of geography, North America is expected to capture the largest market share, owing to the presence of advanced technical companies of storage as a service technology. Europe and Japan are also expected to gain substantial market share due to the introduction of new technologies and applications. APAC is expected to be the fastest growing storage as a service market, owing to the government initiatives being taken towards the improvement of technologies by emerging economies such as India and China.

The storage as a service market in Latin America and MEA is also expected to witness high growth rates in the coming period, due to an increase in the demand for cost effective storage as a service technologies.