About IT Storage Services
IT Storage Services is referred to as a service which is been used for storing the information. The market of IT storage service is growing due to rising focus on the security of data by service providers in the various region, also SMBs are exhibiting a high adoption rate of cloud storage systems because of their flexibility and ease of use while some of the factors like security related to data and difficulty in handling the information is further restraining the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.62% |
Competition among existing players is due to the IT Storage Services market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for IT Storage Services Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Accenture (Ireland), Dell (United States), HCL (India), HP (United States), IBM (United States) and TCS (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global IT Storage Services market by Type (Local Managed Storage and Remotely Managed Storage), Application (SMEs, Enterprise, Government Organizations and Military) and Region.
On the basis of geography, the market of IT Storage Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Presence of major companies that spend high on IT infrastructure and Increased penetration of smartphones, laptops, and tablets and the growth of the IoT market
Market Growth Drivers:
SMBs are exhibiting a high rate of adoption of cloud storage systems because of their ease of use and flexibility and Rising focus on data security by service providers in the region
Challenges:
Difficulty in information handling
Restraints:
Data security concerns
Opportunities:
CAPEX and OPEX reduction is driving a significant portion of the global organizations to migrate their on-premises data storage to the cloud storage platform
Market Leaders and their expansionary development strategies
In March 2023, Akamai Technologies, Inc., the cloud company that powers and protects life online, announces that it has entered into a definitive agreement to acquire Ondat, a cloud-based storage technology provider with a Kubernetes-native platform for running stateful applications anywhere at scale.
In August 2023, Google launched three new cloud storage options, Cloud Storage FUSE for Artificial Intelligence (AI) applications that require file system semantics, a parallel file system Parallelstore for demanding AI and HPC applications that use GPUs, and NetApp Volumes for enterprise applications running in the cloud.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.