PUBLISHER: The Business Research Company | PRODUCT CODE: 1888467
PUBLISHER: The Business Research Company | PRODUCT CODE: 1888467
Storage as a service is a cloud-based solution that enables organizations to rent or lease storage capacity from a service provider instead of maintaining on-premises storage infrastructure. It provides secure, scalable, and on-demand storage for digital data, reducing the need for physical hardware and lowering maintenance costs. STaaS also offers features such as data backup, disaster recovery, and remote accessibility, ensuring efficient and reliable management of information.
The main types of storage as a service are cloud network-attached storage, cloud storage area network, cloud backup, and cloud archiving. Cloud network-attached storage is a cloud-based file storage system that allows shared access to data across multiple users, devices, and applications via standard network protocols such as NFS or SMB. It offers services including data backup and recovery, cloud computing, big data analytics, and media and entertainment. It is used by small and medium enterprises (SMEs) as well as large enterprises. Various deployment models include public cloud, private cloud, and hybrid cloud, serving several end-user industries, including information technology (IT) and telecommunications (Telecom), banking, financial services and insurance (BFSI), retail and e-commerce, healthcare, government, media and entertainment, and others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the information technology sector, particularly in hardware manufacturing, data infrastructure, and software deployment. Higher duties on imported semiconductors, circuit boards, and networking equipment have raised production and operational costs for tech firms, cloud service providers, and data centers. Companies relying on globally sourced components for laptops, servers, and consumer electronics are facing longer lead times and increased pricing pressures. In parallel, tariffs on specialized software tools and retaliatory measures from key international markets have disrupted global IT supply chains and reduced overseas demand for U.S.-developed technologies. To navigate these challenges, the sector is accelerating investments in domestic chip fabrication, diversifying supplier bases, and adopting AI-driven automation to enhance operational resilience and cost efficiency.
The storage as a service market research report is one of a series of new reports from The Business Research Company that provides storage as a service market statistics, including storage as a service industry global market size, regional shares, competitors with a storage as a service market share, detailed storage as a service market segments, market trends and opportunities, and any further data you may need to thrive in the storage as a service industry. This storage as a service market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The storage as a service market size has grown exponentially in recent years. It will grow from $52.14 billion in 2024 to $65.89 billion in 2025 at a compound annual growth rate (CAGR) of 26.4%. The growth in the historic period can be attributed to increasing enterprise data generation, growing adoption of cloud computing and hybrid cloud deployments, rising demand for disaster-recovery and backup services, increasing digitalization across industries such as IT and telecom, and growing proliferation of connected devices and Internet of Things (IoT).
The storage as a service market size is expected to see exponential growth in the next few years. It will grow to $166.23 billion in 2029 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to rising demand for multi-cloud and hybrid storage offerings, growing outsourcing of storage infrastructure to service providers, increasing regulatory and compliance requirements for data retention and protection, shifting from capex to opex consumption models for storage, and rising adoption of storage-as-a-service by small and medium enterprises. Major trends in the forecast period include innovations in object storage and software-defined storage architectures, developments in AI-enabled storage management and automation, advancements in edge computing and distributed storage solutions, innovations in cloud-native and container-friendly storage services, and development of vertical-specific storage solutions.
The increasing adoption of cloud computing solutions is expected to propel the growth of the storage as a service market going forward. Cloud computing refers to the delivery of computing resources such as servers, storage, databases, and software over the internet to enhance scalability, flexibility, and operational efficiency. The rise in adoption of cloud computing solutions is driven by their ability to improve data accessibility, scalability, and cost efficiency across organizations of all sizes. Storage as a service supports this adoption by providing secure, scalable, and on-demand storage solutions that integrate seamlessly with cloud platforms, enabling organizations to efficiently manage and protect their data while supporting business continuity and digital transformation initiatives. For instance, in April 2025, according to the European Commission, a Belgium-based executive body of the European Union, cloud adoption among European businesses is expected to rise from 45.2% in 2023 to 75% by 2030. Therefore, the increasing adoption of cloud computing solutions is driving the growth of the storage as a service market.
Major companies operating in the storage as a service market are focusing on developing AI-driven storage automation to enhance data scalability, accessibility, and security across hybrid and multi-cloud environments. AI-driven storage automation refers to the use of machine learning algorithms to optimise data placement, predict storage demand, and improve system efficiency through real-time analytics. For instance, in April 2024, Wasabi Technologies, a US-based cloud storage company, launched Wasabi AiR (AI-Ready) storage platform, designed to deliver intelligent, high-performance object storage tailored for AI and machine learning workloads. This innovation enables organizations to store, index, and retrieve massive unstructured datasets efficiently while maintaining low latency and high durability. Wasabi AiR integrates AI-driven tiering and energy-efficient data movement, supporting seamless scalability from edge devices to centralized clouds. By combining predictive analytics, automation, and high-speed architecture, Wasabi AiR represents a next-generation advancement in STaaS.
In October 2024, Commvault, a US-based security company, acquired Clumio for $47 million. As a result of the acquisition, Clumio's expertise with AWS will enhance cyber resilience capabilities and expand market opportunities among AWS customers. The integration also strengthens support for essential cloud data and workloads on AWS, including Amazon Simple Storage Service (AWS S3) and Amazon DynamoDB. Clumio is a US-based provider of storage as a service.
Major players in the storage as a service market are Amazon Web Services Inc., Google LLC, Microsoft Corporation, Alibaba Cloud Pvt. Ltd., Dell Technologies Inc., IBM Corporation, Oracle Corp., Hewlett Packard Enterprise Development LP, NetApp, Pure Storage Inc., Rackspace Ltd., Dropbox, Cloudflare Inc., Box Inc., Rubrik Inc., Cohesity Inc., DigitalOcean Holdings Inc., Druva Inc., Egnyte Inc., Nasuni Corp., Backblaze Inc., DataCore Software Corp., Cloudian Inc., Zadara Inc., Scality Inc., MinIO Inc., Wasabi, and Idrive Inc.
North America was the largest region in the storage as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in storage as a service report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the storage as a service market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The storage as a service market includes revenues earned by entities by providing services such as cloud-based data storage, backup and recovery services, disaster recovery services, and data archiving. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Storage As A Service Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on storage as a service market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for storage as a service ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The storage as a service market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.