Cloud Storage Market, New-Age Technology, Opportunities 2027 & Analysis, COVID – 19 Analysis, Business Trends, Global Segments
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Market Scenario:
Cloud
storage has been efficient for storing data, especially in remote servers.
Industries that produce large amounts of data prefer using cloud storage to
provide core security. Companies can easily access the data from the internet.
Cloud storage is proven to manage remote servers, including their operation and
maintenance. Due to its huge usage, the Cloud Storage Market is expecting good
growth value.
The
market is showing its excellent growth speed due to the driving force. The
higher need for mobility is accelerating the demand of the Cloud Storage
Market. The global demand is increasing diversely in prominent regions. The
industrial verticals are utilizing cloud storage systems for storing large
amounts of data. The growth of industry verticals such as the IT sector is
highly driving the market.
Implementation
of cloud storage systems is easy and quite convenient, which raises the demand
for cloud storage facilities. The prime activities of the industries to access
data through different devices and share them on various platforms are
increasing the adoption of cloud storage systems. These factors are highly
enhancing the opportunities of the Cloud Storage Market.
During
the pandemic period, the Cloud
Storage Market has noticed a steady growth rate. Due to
the lockdown, people preferred to stay at home and work remotely. The data
consumption and the requirement for data storage were highly propelled during
this period. Most industries prefer to use cloud storage systems for securely
storing data. These factors have accelerated the market’s growth rate. The
pandemic period has brought up good growth opportunities for the market. It is
estimated to continue its growth performance consistent in the post-pandemic
period.
During
the forecast period, the Cloud Storage Market is expected to reach a valuation
of USD 104 billion and a CAGR of 25 % from 2023 to 2027.
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Competitive
Outlook
The
eminent contenders in the cloud storage market are IBM Corporation (U.S.),
Amazon Web Services (U.S.), Microsoft Corporation (U.S.), HP Enterprise Company
(U.S.), Google, Inc. (U.S.), Oracle Corporation (U.S.), Rackspace Hosting, Inc.
(U.S.), EMC Corporation (U.S.), VMware, Inc. (U.S.), Dropbox, Inc. (U.S.) among
others.
Segmentation:
The
Cloud Storage Market is segmented into major segments such as the components,
verticals and deployment methods.
The
component segment of the market is fragmented into solutions and services. The
solution segment has data archiving, cloud storage gateway, backup storage,
disaster recovery, and primary storage. While the service segment is subdivided
into support and maintenance, training and consulting, migration and cloud
integration, and managed services.
The
vertical segment of the market involves industrial verticals such as travel and
hospitality, education, BFSI, healthcare industry, e-commerce and retail, IT
and telecommunication, government, and others. The cloud deployment model
consists of private cloud, hybrid cloud, and public cloud.
Regional
Analysis:
According
to the geographical report, the Cloud Storage Market covers major regions such
as the North American region, Europe, Asia Pacific and the rest of the
world.
The
North American region occupies the largest market share due to the higher
investment in cloud-based solutions. The increased rate of adoption of advanced
technologies is accelerating the market.
The
Asia Pacific region will also show a good growth rate in the forecast period
due to its consistent growth performance and the wide usage of cloud storage
systems in various sectors.
Google has announced the launch of
BigLake, and it is a new and advanced data lake storage engine. It makes it
easier for enterprises to analyze the data in data warehouses and data lakes.
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Table of Contents:
1 Executive
Summary
2 Scope of the
Report
2.1 Market
Definition
2.2 Scope
of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets
Structure
Continued….
LIST OF TABLES
TABLE 1 CLOUD STORAGE MARKET, BY
COMPONENT
TABLE 2 CLOUD STORAGE MARKET, BY
DEPLOYMENT MODEL
TABLE 3 CLOUD STORAGE MARKET, BY
VERTICAL
Continued….
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 CLOUD STORAGE MARKET, BY
COMPONENT (%)
FIGURE 3 CLOUD STORAGE MARKET, BY
DEPLOYMENT MODEL (%)
Continued….
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