There’s no doubt that enterprise storage and backup markets are changing at a rapid pace.
The cloud offers us the opportunity to innovate and simplify how we manage and protect our information.
Leading IT market research and advisory firm IDC analyses the data protection as a service (DPaaS) market. Andrew Smith, Senior Research Analyst at IDC recently authored IDC Vendor Profile: HubStor – Cloud Data Management and Protection Services. In the report, Mr. Smith says:
“The data protection as a service (DPaaS) market is growing at a significant pace. To be exact, IDC’s initial market sizing and forecast of this segment shows it will grow at a CAGR of 16.2% over the next five years. This market consists of three segments: disaster recovery as a service (DRaaS), backup as a service (BaaS), and archive as a service (AaaS). Each segment is also expected to achieve doubledigit CAGR over the next five years. There are several reasons for this growth, chief among them is the adoption of convenient (and often lower cost) cloud storage. Solutions like Microsoft Azure and AWS S3 are experiencing massive growth, and as more storage capacity moves to the cloud, it creates opportunity for associated services for data management, backup, and archiving. It is within this dynamic market that HubStor seeks to expand its presence. Based on product and strategy presentations, and recent conversations with HubStor executives, we believe the vendor is well positioned to succeed in the DPaaS market for three key reasons…”
You can download the full report here.