New York, US, March 10, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a global Information Technology & Telecommunication business consulting and research firm, has published a global intelligence report on the “Cloud Storage Market”. The report has analyzed the Cloud Storage Market from a regional as well as global perspective. The total market opportunity for Cloud Storage Market was USD 66.95 Bn in 2021 and is expected to grow at a CAGR of 17.4 percent through the forecast period to reach USD 241.6 Bn by 2029.
| Market Size in 2021 | USD 66.95 Bn |
| Market Size in 2029 | USD 241.6 Bn |
| CAGR | 17.4 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 278 |
| No. of Tables | 127 |
| No. of Charts and Figures | 120 |
| Segment Covered | Component, Application, Deployment Type, and Vertical |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Cloud Storage Market Scope and Research Methodology
The report provides qualitative and quantitative analysis of the Cloud Storage Market. Key insights of the report include the major applications and drivers of the market, challenges to growth and opportunities for Cloud Storage Market growth. The market has been divided into four major segments: Component, Application, Deployment Type, and Vertical which were further divided into various sub-segments.
The report includes the competitive landscape of Cloud Storage Market, which provides detailed information on the position of major players in the industry with their partnerships, business growth and acquisitions. Cloud Storage Market restraints, drivers, challenges, and opportunities prevailing the market growth is provided in the report. Bottom-up approach was used to estimate the Cloud Storage Market size. Data included in the Cloud Storage Market report was collected through primary and secondary research methods. SWOT analysis was conducted to find out Strengths and Weaknesses of the Cloud Storage Market. The new entrants in Cloud Storage Market were researched for growth prospects and future business outlooks. The analysis acts as a guide for stakeholders, investors, market players and followers and new entrants with an overall view of the Cloud Storage Market for formulating investment approaches and marketing tactics.
Cloud Storage Market Overview
Cloud storage is a cloud computing model enabled for storing data and files on the internet through cloud computing. Cloud Storage removes the need to buy and manage data storage infrastructure, giving agility, scalability, and durability. Cloud storage delivers cost effective, and scalable storage. Cloud storage providers manage capacity, security, and durability to make data accessible to users applications over the internet.
Cloud Storage Market Dynamics
Increased need for agile storage solutions to manage the rising data volumes and low-cost benefits of cloud storage solutions is expected to drive the Cloud Storage Market growth. Exponential growth in data volumes, growing use of artificial intelligence (AI) to increase storage demand for data security purposes are expected to influence the Cloud Storage market growth. Implementing machine learning, automation and cloud across vehicles for enhanced experience is expected to boost the Cloud Storage market growth. Increasing demand for low cost data backup and protection across all enterprises, with the necessity of handling the data by usage of mobile technologies is expected to fuel the Cloud Storage market growth.
Laws and regulations associated with privacy and data security on using the cloud are expected to restrain the Cloud Storage market growth. High cost associated with public cloud environments is expected to hamper the Cloud Storage market growth. Use of AI technology in order to achieve data integrity present lucrative opportunities for the Cloud Storage market growth.
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Cloud Storage Market Regional Insight
North America Region dominated the Cloud Storage market in 2021. High dominance of digitalization and cloud platforms is major factor expected to drive the regional Cloud Storage market growth. Organizations shifting towards clouds services, innovations in the cloud storage solutions offered by vendors and SMEs and increasing adoption of digital business strategies are expected to drive the regional Cloud Storage Market growth. Investments in the R&D initiatives for cloud based solutions in the North American region is expected to fuel the regional Cloud Storage market growth in the region.
The Asia Pacific region is expected to grow at fastest growth rate during the forecast period due to shift towards open architecture and cloud computing services among the developing countries.
Cloud Storage Market Segmentation
By Component:
- Solutions
- Services
By Application:
- Primary Storage
- Backup and Disaster Recovery
- Archiving
By Deployment Type:
- Public
- Private
- Hybrid
By Vertical:
- BFSI
- IT and ITeS
- Telecommunications
- Healthcare and Life Sciences
- Media and Entertainment
- Consumer Goods and Retail
- Manufacturing
- Government and Public Sector
- Energy and Utilities
- Others
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Key Players Operating in the Cloud Storage Market Include:
- Amazon Web Services, Inc (US)
- Google (US)
- Microsoft (US)
- IBM (US)
- Wasabi (US)
- Oracle (US)
- Rackspace Technology (US)
- Hewlett Packard Enterprise (US)
- Dell Technologies (US)
- Dropbox (US)
- VMware (US)
- NetApp (US)
- Hitachi Vantara (US)
- Scality (US)
- Citrix (US)
- DigitalOcean (US)
- Zadara (US)
- Cisco Systems, Inc. (US)
- Data direct Networks (US)
- MongoDB, Inc. (US)
- Alibaba Cloud (China)
- Tencent Cloud (china)
- Huawei (China)
- Fujitsu (Japan)
- UpCloud Ltd (Finland)
- pCloud (Switzerland)
- Degoo (Sweden)
- Rohde & Schwarz (Germany)
- Mecalux, S.A. (Spain)
Key questions answered in the Cloud Storage Market are:
- What is Cloud Storage?
- What was the Cloud Storage market size in 2021?
- What is the growth rate of the Cloud Storage Market?
- What is the forecast period of the Cloud Storage market?
- What will be the Cloud Storage market size by 2029?
- Which are the factors expected to drive the Cloud Storage market growth?
- What are the restraining factors for the Cloud Storage market growth?
- Which segment dominated the Cloud Storage market growth?
- What is the demand pattern for the Cloud Storage market?
- Which region held the largest share in the Cloud Storage market?
- Who are the key players in the Cloud Storage market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Component, Application, Deployment Type, and Vertical
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:
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Cloud Kitchen Market: The total market size was valued at USD 52 Bn in 2021 and is expected to grow at 13 percent from 2022 to 2029, reaching USD 138.24 Bn. Demand for online meal delivery has increased due to an increase in young people around the world and changing consumer tastes is expected to drive the market growth.
Cloud integrated development platform (IDE) Market: The total market size is expected to be 2.5 percent CAGR during the forecast period and the market size is expected to reach USD 1.72 Bn by 2029. Due to the rising cloud migration of organizations and strong demand throughout is expected to fuel the market growth.
Cloud API Market: The total size is expected to grow at 18.8 percent CAGR throughout the forecast period, reaching USD 2341.7 Mn by 2029. Increased adoption of cloud technology, smartphones and cloud platforms are expected to fuel the market growth.
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