Key findings: IT storage services
This IT storage services procurement market report offers actionable information on the global spend potential, regional spend dynamics and pricing models. Insights delivered in this report will help purchasers to identify cost-saving opportunities while procuring IT storage services.
The possibility of the CAPEX and OPEX reduction is driving a significant portion of the global organizations to migrate their on-premises data storage to the cloud storage platform. This is expected to act as one of the substantial growth drivers accelerating the category spend momentum. SMBs are exhibiting a high rate of adoption of cloud storage systems because of their ease of use and flexibility, which is also driving the category demand. However, in a market that is experiencing a steep rise in adoption of cloud storage service, factors like privacy issues, security threats, and the failure to provide high network bandwidth are apprehended to impede the category adoption in certain areas.
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Written from the perspective of the buyers and suppliers, this IT storage services procurement research report offers comprehensive coverage of the factors driving spend across various regions and helps buyers to direct their procurement strategy accordingly. To help buyers procure IT storage services at cost-effective rates, an analysis of the pricing outlook and supplier cost structure is also offered in this report.
Insights offered in this IT storage services procurement market intelligence report will help the buyers understand:
- Global spend potential for a period of 2018-2023
- Supplier cost breakup
- US market overview and pricing models
- Supply chain margins and key cost drivers
Analyze the global category spend for IT storage services
The global market for IT storage services is classified into three segments, namely on-premises storage, cloud storage, and hybrid cloud storage services. The on-premises storage segment is accounting for an incremental category spend growth because of the presence of traditional physical storage systems across buyers' organizations. The need to modernize their existing IT infrastructure is driving the adoption of physical servers, storage systems, switches, routers, load balancers, and WAN optimization appliances which, in turn, will create substantial requirements for the on-premises storage services and products. The availability of hybrid cloud solutions is another factor influencing the spend growth rate since they are easy to maintain and are scalable and flexible.
To access the annual market size data for the global category spend, download a free sample copy.
This IT storage services procurement market report offers coverage of:
- Regional and global spend opportunities
- Spend dynamics on a global and regional level
- Category spend and spend growth potential
Optimize category spend for IT storage services
Reducing spend is a critical concern for enterprises looking to purchase IT storage services from suppliers across the globe. As a result, buyers must partner with service providers that can bundle maintenance and support services, consulting and implementation services, and consulting and support services, along with storage services. Apart from realizing cost-savings, such bundling of services will also add to the complexities of being associated with multiple IT storage services vendors for different needs.
This procurement market intelligence report on IT storage services also offers coverage of:
- Cost-saving opportunities
- Supply chain margins
- Technology-facilitated procurement metrics
- Supply market competitiveness and factors influencing buyer power
Assess category spend for the US region
An early category adoption and the presence of the global service providers have earned the US the largest share in the global market for IT storage services. Adoption of the latest technologies such as 5G, IoT, big data, artificial intelligence, and automation results in the generation of a high volume of data which is expected to spur the demand for IT storage services in the region. The incremental spend done by the defense department of the US government in cloud services is expected to boost the category spend growth rate during the forecast period.
Additional information offered in this IT storage services procurement market intelligence report will help buyers analyze:
- Category spend in the US
- Supplier cost structure in the US
- Margins of suppliers and category cost drivers
Build strategies for effective supplier selection
Service providers are expected to exhibit a certain level of skills when it comes to efficient rendering of IT storage services. On this note, buyers must ensure that service providers guarantee data segregation in case of multi-tenancy to avoid data loss or unsorted data storage scenarios. The service providers must have the ability to recover data in case of any unprecedented instances. Buyers should also ensure that service providers can proactively monitor data storage activities and report any potential threats.
This IT storage services procurement market report identifies the significant costs incurred by suppliers and provides additional information on:
- Key supplier selection criteria
- Service level agreements and US supplier market ecosystem
- Total cost of ownership and category risks
Devise effective category management strategies for IT storage services
Maintaining incumbency in this fragmented supply market has been observed to generate significant cost-savings. Such nature of the supply market for IT storage services enables the buyers to negotiate for higher discounts from service providers that seek to retain buyers. The adoption of cloud storage can reduce buyers' TCO by eliminating the CAPEX on storage hardware, ensuring faster deployment of the storage service, and decreasing downtime and maintenance costs.
Key insights offered in this market intelligence report on IT storage services will help the buyers identify:
- Category risks and strategies to mitigate them
- Major supplier and buyer KPIs
- Threat of new substitutes and availability of new suppliers
Design strategies based on regional spend data
According to the experts, increasing penetration of smartphones, laptops, and tablets, and growth of the IoT market in North America will generate a bulk amount of digital data, which will consequently create demand for IT storage services. Better accessibility to the internet in APAC is paving the way for widespread digitization and investments in IT infrastructure, which are expected to increase buyer’s spend on IT storage services during the forecast period. Despite the growth-promoting factors, issues like inconsistencies in ensuring high-speed Internet connectivity, power supply, bandwidth, and problems with setting up optic fiber connections will hinder the category growth in significant markets across the globe.
To estimate the regional spend potential, this IT storage services procurement market report considers geographies such as:
- North America
- South America
Information on the top IT storage services suppliers and significant risks faced while procuring IT storage services is offered in this market intelligence report. Download a free sample to access the report’s complete scope of coverage.
Key Features of Report
Procurement Best Practices
Cost Saving Opportunities
Supplier Capability Matrix
IT Storage Services - Category Spend Analysis
According to SpendEdge analysts, one of the key growth contributors for the global IT storage services market is the growing demand for data storage devices from entities such as financial institutions, retail outlets, healthcare establishments, government institutions, telecommunication industries, manufacturing industries, IT companies, and research and consulting services.
IT Storage Services – Procurement Best Practices
Buyers must initiate requests for proposals and invite bids from all potential service providers that have the ability to meet overall requirements. A key strategy adopted by procurement managers in this market space is to promote the competitive bidding scenarios.
IT Storage Services - Procurement Challenges
A major procurement pain point experienced by the buyers is the prevention of data loss. SpendEdge’s procurement specialists predict that the buyers must use practices such as onsite data recovery and use of customized solutions for the recovery of data to reduce the loss of data and counter this specific procurement pain point.