The global market for software as a service (SaaS) will grow at a rate of 30.82% during the forecast period from 2022 to 2029. The Asia-Pacific region is expected to experience the highest growth during this period, as this is where the e-commerce sector is growing the fastest. For companies looking to make their mark in the SaaS niche in the coming years, it’s time to focus on b2b SaaS marketing.
Storage as a service, also known as hosted storage, refers to a business model in which a company typically rents or leases its storage infrastructure to other individuals or companies to store data. Small companies and individuals often use this service because it is considered a suitable method of managing backups while providing savings on equipment, personnel and physical space.
The growth of data consumption among organizations worldwide is one of the main factors driving the growth of the storage-as-a-service (SaaS) market. Increasing use of mobile devices such as smartphones and tablets by customers and employees as well as the growing need for data archiving is accelerating the growth of the market. The availability of cost-effective services and best practices provided by data service companies and widespread adoption of the service as it is cost-effective and reduces disaster recovery risks are also impacting the market. In addition, growing adoption of the Internet of Things, increasing system availability, huge volumes of data being generated, rapid digitization, and integration of advanced technologies are positively impacting the storage-as-a-service (SaaS) market. In addition, the increased adoption of archive as a service and the emergence of cloud-based storage gateways offer lucrative opportunities for market participants during the forecast period from 2022 to 2029.