Storage as a Service Market Dynamics: A Look at Regional Growth and Challenges
The storage as a service market was estimated at USD 43.5 billion in 2023 and is likely to grow at a CAGR of 24.86% during 2024-2030 to reach USD 207.73 billion in 2030.
Storage as a Service is a cloud-based service where the service provider rents or leases its storage infrastructure to another company or individual to store data. The service has been widely adopted by enterprises, especially small- and medium-sized, across the world for managing backups and saving costs required for maintaining the hardware and physical space.