The global market for IT storage services is anticipated to grow at an impressive CAGR of around 7% between 2016 and 2020.
Procurement market intelligence analysts have announced the top five leading suppliers for the IT storage services in their latest research report. The global market is transforming into a buyer-friendly model where buyers make or strongly influence all key decisions about pricing and service delivery.
This category spend intelligence report is based on the synthesis, analysis, and interpretation of information about the global IT storage services market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The IT storage services industry is highly fragmented owing to the presence of many vendors. The market is currently dominated by large global players. The market also comprises of many small-scale service providers that have an edge over global players in terms of local market know-how. Buyers include pharmaceutical, healthcare, automotive, FMCG, manufacturing, media and entertainment, and retail companies, as well as large financial institutions.
According to Angad Singh, a category specialist at Technavio,“The market is currently transitioning towards hybrid cloud. In this model, companies can transfer data between data centers and different types of clouds under governance. The adoption of multi-cloud strategy, in addition to the hybrid cloud model also makes it possible for companies to avoid vendor lock-ins, thereby providing them with better bargaining power during procurement.”
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Top five suppliers in the IT storage services market space
EMC
EMC provides data storage services to entities such as banks, financial institutions, manufacturers, healthcare and life science organizations, airlines, transportation companies, educational institutions, and public sector industries. The company specializes in offering services related to ITaaS. EMC has the world’s largest service and sales force, and a global network of technology, service, and distribution partners.
Key services: Storage, Backup, Archiving, Data protection, Cloud computing, Consulting, and Virtualization.
NetApp
NetApp is the first storage service provider to the US government. The company caters to the media, healthcare, pharmaceutical, government, gaming, banking, and financing sectors. It has an operational presence in over 50 countries and operates through 150 offices spread across the globe. The company emphasizes greatly on R&D and has strong supply chain capabilities.
Key services: Data storage solutions, Data management, Data protection, and Cloud storage and transformation.
IBM
IBM operates across sectors such as aerospace and automotive, banking, chemicals, communications, education, energy and utilities, and electronics. The company boasts of expertise in cloud services and is the global leader in providing hybrid cloud services to enterprises. The company provides both hardware and software solutions, which positions it as a one-stop shop for companies seeking integrated IT products and solutions.
Key services: Cloud services, Storage services, Backup services, Archiving services, Mobility services, and Data protection.
Hewlett-Packard Enterprise
HPE is the largest division of HP. It provides servers, storage, IT, and software related services that enable enterprises and other organizations to manage their IT business. The firm caters to sectors such as manufacturing, government, FMCG, travel and transportation, health and life sciences, and media, as well as to financial institutions. It has the ability to provide services at an affordable price and has an excellent global distribution network
Key services: Cloud computing, Storage, Servers, Consulting, Data protection and recovery, and Backup and archiving.
Hitachi Data Systems
Hitachi Data Systems provides storage services to over 50 of the Fortune 500 companies worldwide. It has an operational presence in more than 170 countries and provides services either through direct or indirect channels. The company has strong R&D capabilities and invests 20% of its revenue in research and development. It also owns 2,500 patents worldwide.
Key services: Cloud services, Data protection services, Consulting and data management, Storage services, and Servers.
A more detailed analysis is available in the procurement market intelligence report titled, ‘IT Storage Services – Procurement Market Intelligence 2016’.
