San Jose, California (PRWEB) September 11, 2013
Follow us on LinkedIn – In the coming months, GIA will complete an extensive secondary and primary research program involving some of the industry’s leading players and experts. The study will examine key drivers and trends impacting the market such as increased emphasis on cloud based approaches to IT against a backdrop of enterprise budgetary constraints; growing popularity of cloud computing services especially infrastructure as a service (IaaS); increasing adoption of IaaS among SMBs; proliferation of smartphones, tablets and ensuing demand for consumer cloud storage services for online storage of documents, photos, music, etc; and big data induced need for increased storage resources and greater efficiency.
Defined as remote storage of data online over the cloud on servers hosted by third party service providers, cloud based storage is expected to witness robust growth in the coming years. A key factor driving growth in the market is the steady migration of compute and storage intensive back-office enterprise applications to the cloud such as, manufacturing and resource planning, among others. Increased deployment of hybrid cloud is also resulting in the growing popularity of the hybrid cloud storage approach thus benefiting cloud storage services. Key benefits of Cloud Storage driving growth in the market include reduced need for IT capital investments, high scalability, flexible access to stored data, improvements in service delivery and data security, subscription based payment model and lower operating costs, unrivalled business agility, and support for disaster recovery and business continuity.
The rise of big data is expected to especially benefit Storage as a Service (STaaS). Storing huge volumes of data in the cloud is easy and cost effective. Rapid developments in technology that help speed up the process of managing data in the cloud so as to enable new, varied and innovative use of available data will help drive growth. The growing trend towards business continuity over the clouds is also helping spur demand for cloud storage management services. The evolution of cloud based BC/DR service delivery models, such as, online backup, cloud-based disaster recovery and backup services, among others is poised to benefit the market. Cloud BC/DR services, wherein BC/DR software solutions are made available as online services over the Internet, offer cost effective business continuity allowing businesses to access and use the services without requiring additional infrastructure.
Finance and banking, healthcare, government, manufacturing, academic and technology industries are forecast emerge as lucrative end-users of cloud based storage services in the coming years. The study estimates the global Cloud Based Storage market to be a multi-million dollar market, while more precise market-size and growth projections for a 14-year period will be made available during the 2nd stage of report preparation, and data analysis.
The research and analyses will be released shortly in the form of a comprehensive research report. The report by design, will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modeled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.
Developed for Public Cloud Service Providers, Strategic Planners, Business Development Executives, Management Consultants, Consulting Firms, Marketing & Sales Executives, C-Level Decision Makers, Market Strategists and Technology Domain Experts, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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