This research report titled ‘Global Storage as a Service Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the global storage as a service market into three major segments by technology. They are:
- Stand-alone and platform-attached storage
- Cloud archiving segment
- Cloud backup segment
Global storage as a service market by stand-alone and platform-attached storage
The global stand-alone and platform-attached storage market is expected to reach close to USD 13 billion by 2020, growing at a CAGR of over 26%. Stand-alone storage is a cloud-based storage model that does not require a platform to store data on a cloud. The data from on-premise infrastructure can be migrated to a cloud as a block or an object.
Enterprise users access applications and data stored in the cloud through the Internet. These days, most current applications are accessed over the Internet. The data generated by these applications is directly stored in the storage attached to the cloud platform. Vendors in the market offer stand-alone and platform-attached storage services to end-users. For example, AT&T provides stand-alone solutions, and Amazon provides platform-attached solutions.
According to Amit Sharma, a lead analyst at Technavio for cloud computing research, “The adoption of stand-alone services is on the rise among SMEs as they require more cost-efficient storage solutions compared to large enterprises.” Microsoft launched OneDrive for enterprise business, which can be used as a stand-alone product at a low price. Microsoft also provided a discount of 50% to the users and implemented flexible pricing based on the storage requirements.
Global storage as a service market by cloud archiving segment
The global cloud archiving market is expected to exceed USD 4.5 billion by 2020, growing at a CAGR of over 37%. Cloud-based data archiving is different from cloud backup. Cloud backups are used to recover important enterprise data in the event of a disaster while archived data is compressed forms of historical data. Storing archived data in a cloud proves more cost-effective compared to storing and maintaining large chunks of non-critical data in an on-premise infrastructure.
Cloud archiving services must provide high security, long-term data retention in accordance and should comply with data regulation policies of the region. Archived data in a cloud must be protected from tampering or overwriting and has to be made available for specific end-users when required through a graphical user interface (GUI). Archived data is required during compliance audits.
The technology landscape in the cloud archiving services has changed from the use of eDiscovery content search tools to artificial intelligence which is gaining popularity in the market. Leading vendors in the market such as Google offer cloud data management solutions based on machine learning. Regulated industries such as BFSI require document archiving services that can retrieve archived data with the highest level of accuracy. “Cloud archiving services can be accessed through smartphones and tablets, and hence, large enterprises in the government, BFSI, education and healthcare sectors are the primary adopters of cloud archiving services,” says Amit Sharma.
Global storage as a service market by cloud backup segment
The global cloud backup market is expected to exceed USD 3 billion by 2020, growing at a CAGR of close to 35%. Enterprises use cloud-based backup services to archive non-critical data. Cloud backup is often referred to as an online backup. It involves storing a copy of the data in a cloud server at an offsite location. The servers that store enterprise data belong to third-party vendors, and enterprises are charged in terms of capacity usage, in and outbound bandwidth usage, and the number of user sessions.
The increased intensity of unstructured data that enterprises generate requires technology that can index the unstructured data into sequential order. Vendors in the market have picked the gap in cloud backup solutions and are offering solutions that can resolve the issue of management of dispersed data.
Zoolz, a UK-based provider of cloud storage solution, recently launched Zoolz Intelligent Cloud, a backup solution to convert unstructured data into a sequential order. This cloud backup solution has features that can help enterprises sort and filter data and provide users access to files using intelligent content filter technology and e-discovery search engines.
The top vendors highlighted by Technavio’s research analysts in this report are:
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