Press release
Global Cloud Storage Market To Be Driven By Increasing Data Quantities Across Organizations, As Well As A Growing Demand To Provide Remote Workers With Constant Access To Data In The Forecast Period Of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 56 Billion
Forecast CAGR (2021-2026): 9%
Forecast Market Size (2026): USD 182 Billion
COVID-19 has prompted companies to shift to cloud environments to cope with the issue and simplify everyday data access, sharing, and work collaboration for its geographically distributed employees. The proliferation of cloud adoption has boosted enterprise adoption of cloud storage solutions for business continuity, workload management, and data storage. As a result of the cloud's scalability, flexibility, and ubiquitous availability, demand for services such as consulting, training, support, and maintenance is rising.
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Industry Definition and Major Segments
The user can store data via a cloud computing provider that maintains and runs data storage as a service on the internet with cloud storage. The data saved and available from many resources that are spread and networked.
On the basis of component, the industry is segmented into:
Service
Solutions
Based on deployment type, the industry is segmented into:
Private
Public
Hybrid
Based on organization size, the industry is divided into:
Large
Medium
Small
Based on industry, the market for cloud storage is classified as
BFSI
Government & Public Sector
Healthcare
IT
Telecom
Retail
Manufacturing
Media and Entertainment
Among others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
The BFSI sector will hold the largest market share in the cloud storage market. Because BFSI firms need to manage, recover and secure enormous amounts of data, numerous cloud strategies are regularly used. This constant moves to multi-cloud environments for improved scalability, low latency and data safety leads to the demand for cloud storage solutions for efficient cloud data analysis.
The North American region is a mature market for cloud storage solutions. Currently, the US is home to well-established providers and end-users that continually adapt to new technologies for increased corporate productivity and job efficiency in the cloud storage market country. Companies in the USA are taking advantage of cloud storage solutions that offer high flexibility, scalability, and low maintenance costs.
Key Market Players
The major players in the market are Alibaba Group Holding Limited, Amazon Web Services, Inc., Dell Inc., Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, and Microsoft Corporation and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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About Us:
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
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