Global Cloud Object Storage Industry Outlook 2025-2029: Market Set to Cross $3.78 Billion Milestone

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Cloud Object Storage Market Size Growth Forecast: What to Expect by 2025?
The size of the cloud object storage market has seen a significant increase in the recent past. It is expected to expand from a market value of $8.14 billion in 2024 to $9.44 billion in 2025, reflecting a Compound Annual Growth Rate (CAGR) of 16.0%. Factors contributing to the growth during the historical period include data explosion, widespread adoption of cloud computing, cost efficiency, disaster recovery measures and business continuity, regulatory compliance, globalization, and the trend of remote working.

How Will the Cloud Object Storage Market Size Evolve and Grow by 2029?
Over the coming years, the cloud object storage market is poised for a rapid expansion. By 2029, the market size is projected to hit $16.69 billion, with an impressive CAGR of 15.3%. This projected growth over the forecast period can be linked to several factors including the rise of 5G technology, changes in data sovereignty laws, the adoption of hybrid and multi-cloud strategies, cybersecurity issues, the advent of blockchain technology, sustainability drives, digital transformation, Internet of Things (IoT) innovations, data monetization, continuous technological advancements, and market competition. Key trends to watch during the forecast period involve the adoption of hybrid cloud solutions, the focus on scalable and cost-affordable storage solutions, a heightened emphasis on data security and compliance, the incorporation of advanced technology, and the expansion of object storage features for a variety of applications.

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What Drivers Are Propelling the Growth of Cloud Object Storage Market Forward?
The expansion of the cloud object storage market is anticipated due to a surge in data volume. This relates to the amount of information stored, processed, or conveyed through a particular system, network, or storage platform. This surge is largely attributed to the widespread use of connected devices on the internet, digital services, and the rising utilization of data-heavy technologies such as artificial intelligence and IoT. Cloud object storage is employed to cater to the influx of data as it offers scalable, affordable, and easily accessible storage solutions for a massive amount of unstructured data generated by contemporary digital technologies. For example, a report by The Linux Foundation, a US-based non-profit consortium, stated in December 2022, that the data growth for an average end-user organization reached a significant 2,208 TB in 2022, marking a 215.43% increase, or triple the 700 TB in 2021. Hence, the upswing in data volume is propelling the growth of the cloud object storage market.

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Which Emerging Trends Are Transforming the Cloud Object Storage Market in 2025?
Major corporations in the cloud object storage market are concentrating on delivering high-performance object storage solutions, complete with advanced capabilities such as key management servers and data firewalls, in order to meet the increasing need for efficient and dependable storage solutions in the cloud environment. Key management servers and data firewalls involve the unification of systems that manage cryptographic keys securely and enforce access control policies to shield sensitive data from unauthorized access or breaches. For example, in March 2024, a high-performance object storage system company based in the US called MinIO, unveiled the MinIO Enterprise Object Store, designed to appease commercial clients seeking simplified construction and management of exabyte-scale data infrastructure. Utilizing MinIO's respected technical knowledge in object storage, this new solution is specifically designed to deal with the performance and scalability demands elicited by extensive AI workloads. MinIO's Enterprise solutions simplify object storage management with features such as the Catalog for efficient metadata search, Cache for high-performance AI workloads, and Observability for exhaustive system monitoring, assuring seamless operations and compliance adherence.

What Are the Key Segments in the Cloud Object Storage Market?
The cloud object storagemarket covered in this report is segmented -

1) By Service: Professional Services, Managed Services
2) By Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End User: Social Media Platforms, Banking, Financial Services, And Insurance (BFSI), Information Technology And Telecommunication, Healthcare, Others End Users

Subsegments:
1) By Professional Services: Consulting Services, Integration Services, Implementation Services, Training And Support Services
2) By Managed Services: Data Backup And Recovery, Cloud Storage Monitoring, Cloud Storage Optimization, Security And Compliance Management

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Who Are the Key Players Shaping the Cloud Object Storage Market's Competitive Landscape?
Major companies operating in the cloud object storage market are Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services Inc., Hitachi Vantara LLC, International Business Machines Corporation, Oracle Corporation, Fujitsu Limited, Hewlett Packard Enterprise Company, NetApp Inc., Iron Mountain Incorporated, Rackspace Technology Inc., Box Inc., Alibaba Cloud Computing Co. Ltd., International Data Corporation, Quantum Corporation, DataDirect Networks Inc., Backblaze Inc., Cloudian Inc., Scality Inc., Wasabi Technologies Inc., Zadara Storage Inc., Caringo Inc., MinIO Inc., Aruba S.p.A., Elastifile Inc., OSNEXUS Corporation

What Geographic Markets Are Powering Growth in the Cloud Object Storage Market?
North America was the largest region in the cloud object storage market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud object storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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