Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "Global Cloud Storage Market by Component (Solutions, Services), Application (Primary Storage, Backup & Disaster Recovery, Archiving), Deployment Type (Public Cloud & Private Cloud), Organization Size, Vertical and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global cloud storage market is projected to grow from USD 50.1 billion in 2020 to USD 137.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.3% during the forecast period.
The need for achieving scalability and flexibility while significantly reducing data storage infrastructure costs to drive the growth of cloud storage market
The cloud storage market is expected to grow at a fast pace, owing to the growing data volumes across enterprises, rising need for providing the remote workforce with ubiquitous access to data and files, and cost-saving and low Total Cost of Ownership (TCO) benefits of cloud storage solutions.
Solutions segment to hold a larger market size in 2020
The solutions segment is projected to contribute majorly to the market, while the services segment is projected to witness a higher growth rate during the forecast period. This growth these segments are supported by the rising transition of enterprises from hardware based storage to cloud environments for 24X7 access, cost efficiency, and scalability along with the rising demand for data backup and disaster recovery solutions.
By vertical, Banking, Financial Services, and Insurance (BFSI) industry to register the largest market size during the forecast period
The BFSI vertical is expected to hold the largest market size in the cloud storage market. With rising volumes of data across the BFSI vertical, the need to improve the operational efficiency, productivity, and security while efficiently storing and managing the data has increased drastically. As a result, organizations are keen to implement scalable and flexible storage solutions.
Middle East & Africa (MEA) to register the highest growth rate during the forecast period
Springing businesses, increasing demand for low cost and flexible data storage options, and growing technology assimilation combined with growing focus of government agencies on digital transformation have allured many cloud storage providers to expand in MEA, with which the demand of cloud storage solutions is expected to rise in the region. The major countries to witness high growth rates in this region include Kingdom of Saudi Arabia (KSA), South Africa, and United Arab Emirates (UAE) among others.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Cloud Storage Market
4.2 Market: Major Segments
4.3 North America Market, by Vertical and Country
4.4 Market: Major Countries
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Data Volumes Across Enterprises
5.2.1.2 Growing Need to Provide the Remote Workforce With Ubiquitous Access to Data and Files
5.2.1.3 Cost Saving and Low TCO Benefits
5.2.2 Restraints
5.2.2.1 Lifetime Storage and Egress Costs Associated With Public Cloud Environments
5.2.2.2 Latency and Network Outage Issues Associated With Public Cloud Environments
5.2.3 Opportunities
5.2.3.1 Emergence of Distributed Storage Arrays
5.2.3.2 Infusion of AI to Achieve Data Integrity
5.2.3.3 Rise of Containerization
5.2.4 Challenges
5.2.4.1 Data Privacy and Security Concerns
5.3 Impact of COVID-19 on Cloud Storage Market
5.4 Ecosystem
5.5 Value Chain Analysis
5.6 Technology Analysis
5.6.1 Artificial Intelligence
5.6.2 Containerization
5.7 Patent Analysis
5.8 Pricing Analysis
5.9 Regulatory Implications and Industry Standards
5.10 Case Study Analysis
6 Cloud Storage Market, by Component
6.1 Introduction
6.1.1 Component: Market Drivers
6.1.2 Component: COVID-19 Impact
6.2 Solutions
6.2.1 Object Storage
6.2.2 Block Storage
6.2.3 File Storage
6.3 Services
6.3.1 Consulting
6.3.2 Integration and Implementation
6.3.3 Training, Support, and Maintenance
6.3.4 Managed Services
7 Cloud Storage Market, by Application
7.1 Introduction
7.1.1 Application: Market Drivers
7.1.2 Application: COVID-19 Impact
7.2 Primary Storage
7.3 Backup and Disaster Recovery
7.4 Archiving
8 Cloud Storage Market, by Organization Size
8.1 Introduction
8.1.1 Organization Size: Market Drivers
8.1.2 Organization Size: COVID-19
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Cloud Storage Market, by Deployment Type
9.1 Introduction
9.1.1 Deployment Type: Market Drivers
9.1.2 Deployment Type: COVID-19 Impact on Market
9.2 Public Cloud
9.3 Private Cloud
10 Cloud Storage Market, by Vertical
10.1 Introduction
10.1.1 Vertical: Market Drivers
10.1.2 Vertical: COVID-19 Impact
10.2 Banking, Financial Services, and Insurance
10.3 It and Information Technology Enabled Services
10.4 Telecommunications
10.5 Healthcare and Life Sciences
10.6 Media and Entertainment
10.7 Consumer Goods and Retail
10.8 Manufacturing
10.9 Government and Public Sector
10.10 Energy and Utilities
10.11 Other Verticals
11 Cloud Storage Market, by Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 Latin America
12 Competitive Landscape
12.1 Overview
12.2 Market Evaluation Framework
12.3 Market Share of Top Players
12.4 Revenue Analysis of Top Players
12.5 Key Market Developments
12.5.1 Product/Solution Launches and Enhancements
12.5.2 Business Expansions
12.5.3 Acquisitions
12.5.4 Partnerships, Agreements, and Collaborations
13 Company Evaluation Matrix and Company Profiles
13.1 Introduction
13.2 Company Evaluation Matrix Definitions and Methodology
13.2.1 Stars
13.2.2 Emerging Leaders
13.2.3 Pervasive
13.2.4 Others
13.3 Cloud Storage Company Evaluation Matrix, 2019
13.4 Company Profiles
13.4.1 AWS
13.4.2 Google
13.4.3 Microsoft
13.4.4 IBM
13.4.5 Alibaba Cloud
13.4.6 Oracle
13.4.7 Rackspace Technology
13.4.8 HPE
13.4.9 Dell Technologies
13.4.10 Huawei
13.4.11 Dropbox
13.4.12 Box
13.4.13 Tencent Cloud
13.4.14 Fujitsu
13.4.15 VMware
13.4.16 Netapp
13.4.17 Hitachi Vantara
13.4.18 Scality
13.4.19 Citrix
13.5 Startup Evaluation Matrix, 2019
13.5.1 Progressive Companies
13.5.2 Responsive Companies
13.5.3 Dynamic Companies
13.5.4 Starting Blocks
13.6 Startup Profiles
13.6.1 UpCloud
13.6.2 DigitalOcean
13.6.3 Vultr
13.6.4 Minio
13.6.5 Zadara
13.6.6 PCloud
13.6.7 Wasabi
13.6.8 Sync
13.6.9 Degoo
14 Adjacent Market
15 Appendix
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