Cloud Storage Market Size, Status and Forecast 2020- Alphabet, Inc., Amazon Web Services, Inc., Dropbox, Inc., Emc Corporation, Hewlett Packard Enterprise Company, Hp Enterprise Company

The global cloud storage market was worth USD 30.08 billion in 2017 and is projected to reach USD 101.59 billion by 2023 at a CAGR of 22.49% over the period of 2018 - 2023. The report discusses the various types of solutions and services provided by the companies. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how the growing demand for low-cost storage and faster data accessibility is changing the market scenario.

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It is projected that by 2022, more than 72% of the global organizations will migrate to cloud from on-premise data centers, cementing the rise of cloud storage. Increasing demand for low-cost data backup, storage, and protection across all enterprises, coupled with the necessity to handle data generated by augmented usage of mobile technologies, favors cloud storage adoption. Moreover, hybrid cloud storage is expected to occupy a significant share of the total cloud storage market in the next five years, due to its greater flexibility in comparison to both public and private cloud storage. However, privacy and security threats, along with the lack of high network bandwidth, can hinder the growth of the market.

Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-

Alphabet, Inc., Amazon Web Services, Inc., Dropbox, Inc., Emc Corporation, Hewlett Packard Enterprise Company, Hp Enterprise Company, Ibm Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., And Vmware, Inc.

Increase In Cloud Adoption Across Organizations

Cloud platforms have enabled new, complex business models and orchestrating more global-based integration networks in recent years. Moreover, cloud services adoption is increasing in the mid-tier and small & medium businesses (SMB), driving the cloud storage market. In addition, cloud acts as is a catalyst for IT transformation, providing the flexibility to combine the preferred clouds and existing on-premises infrastructure in the ratio best suited for the workload. Furthermore, the rising focus on cost optimization and business agility have led to the expansion of cloud data centers. Also, cloud services adapt easily to the changing landscape to meet new requirements. This allows the client organization to focus on their core competency, which, in turn, results in their overall growth.

Market segment by Regions/Countries, this report covers
North America (U.S., Canada, Mexico)
Global (Germany, UK, France, Rest of Global)
Asia Pacific (China, India, Japan, Rest of Asia Pacific)
Latin America (Brazil, Argentina, Rest of Latin America) 
Middle East & Africa

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Growing Demand For Managed Services
Managed services involve outsourcing of the organizations day-to-day management functions and services, such as those related to infrastructure, security, printing, mobility, and other functions, while the ownership rights stay with the end user. With the unstructured data expanding by more than 50% annually, managed service providers are looking at cloud storage as an upfront revenue opportunity. This was further augmented by the greater need for storage control with GDPR requirements. The foray of advanced technologies prompt companies to emphasize on updating their storage system, to match with the competition. Hybrid cloud is one such trend that provides a significant boost to the market growth. However, security and the lack of network bandwidth for data transfer can challenge the growth of the market.

Major points covered in this research are:-

Cloud Storage Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2024), Competition by Manufacturers
Global Market Size (Value) of Cloud Storage (2019-2024)
Global Cloud Storage Capacity, Production, Revenue (Value), Supply (Production), Consumption, Export, Import by Region (2019-2015)
Global Cloud Storage Production, Revenue (Value), Price Trend by Type
Global Cloud Storage Market Analysis by Application
Global Cloud Storage Manufacturers Profiles/Analysis
Cloud Storage Manufacturing Cost Analysis
Industrial Chain, Sourcing Strategy and Downstream Buyers
Marketing Strategy Analysis, Distributors/Traders
Market Effect Factors Analysis
Global Cloud Storage Market Forecast (2019-2024)
Competitive Landscape
Research Findings and Conclusion

Competitive Landscape

December 2017: Microsoft announced the general availability of Archive Blob Storage starting at a price of USD 0.002 per gigabyte per month. Last year, the company launched Cool Blob Storage to help customers reduce storage costs by tiering their infrequently accessed data to the Cool tier.

November 2017: Amazons cloud storage announced that it is releasing a new service called the Amazon Web Services Secret Region, a cloud storage service designed to handle classified information for the spy agencies of the United States.

Finally, this Cloud Storage report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Cloud Storage product development and gives an outline of the potential Global market.

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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.