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Storage as a service (STaaS) allows enterprises to lease their storage infrastructure to a cloud service providers to store their business data, thereby reducing storage costs. Technavio’s market research analysts predict the STaaS market in the US to grow exponentially at a CAGR of around 33% by the end of 2019. The increasing data being generated by enterprises and the demand for cost-effective storage solutions in the US is contributing to the growth of the market.
The hidden costs of cloud-based storage such as data migration costs, access fees, and portable device handling fees is posing a challenge to this market. Organizations are having to factor in these hidden costs while formulating their business strategy. Moreover, due to the complexity of the data, vendors are finding it difficult to maintain the infrastructure.
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