Cloud Storage Market was valued at US$ 78.59 Bn. in 2022 and the total Cloud Storage revenue is expected to grow at 17.4% from 2023 to 2029, reaching nearly US$ 241.59 Bn.
Cloud Storage Market Overview:
The Cloud Storage Market research study investigates and analyses the market’s position during the forecast period. It is comprehensive research that focuses on primary and secondary drivers, market dominance, important segments, and geographic analysis. The study also examines noteworthy personalities, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategy.
Cloud Storage Market Scope:
We looked at the Cloud Storage Market from every perspective possible, using both primary and secondary research methods. This increased our understanding of current market dynamics such supply-demand imbalances, pricing trends, product preferences, and customer behaviour. The data is then compiled and assessed using a range of market estimates and data validation processes. Furthermore, we have an in-house data forecasting engine that forecasts market growth until 2027.
Cloud Storage Market Dynamics:
The COVID-19 pandemic has increased the work-from-home culture. Companies must maintain business continuity, accommodate increased workloads, and foster improved cooperation. Data storage in the cloud allows businesses to make it easier for employees to collaborate and distribute files via cloud drives, while also ensuring employees have constant access to data resources and files. According to LogicMonitor’s 2020 Cloud 2025 research, more than 85% of global IT decision-makers feel that the COVID-19 outbreak accelerated cloud migration for the vast majority of enterprises globally. According to a survey, the United States, Canada, and the United Kingdom are expected to be at the forefront of cloud migration. Several cloud storage firms rely on file hosting and sharing services offered by corporations such as Microsoft, Oracle, Google, pCloud, Dropbox, and Box. However, the market is dominated by a small number of competitors.
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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
Cloud Storage Market Key Players:
Primary and secondary research is used to identify market leaders, and primary and secondary research is utilized to calculate market revenue. In-depth interviews with important thought leaders and industry specialists such as experienced front-line staff, CEOs, and marketing professionals were conducted as part of the core research. Primary research comprised in-depth interviews with prominent thought leaders and industry specialists, such as experienced front-line staff, CEOs, and marketing professionals, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then compared to historical data. The players highlighted in this report are as follows:
• 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)
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Regional Analysis:
The study takes an in-depth look at the local industry, using both qualitative and quantitative data. It gives a segment-by-segment overview and forecast of the worldwide Cloud Storage Market. It also offers market size and forecast estimates for five major regions, including North America, Europe, Asia-Pacific, the Middle East and Africa, and South America, from 2021 to 2027. Each area’s Cloud Storage Market is further subdivided into regions and segments. The report investigates and forecasts many countries, as well as existing trends and prospects in the field.
COVID-19 Impact Analysis on Cloud Storage Market:
We thoroughly researched and analyzed the Global Cloud Storage Market Development Strategy post-COVID-19, by corporate strategy analysis, landscape, type, application, and leading countries, which encompasses and analyses the potential of the global Cloud Storage Market industry, providing statistical data on market dynamics, growth factors, major challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts. The major purpose of the research is to offer industrial businesses a strategic analysis of COVID-19’s influence. Simultaneously, this investigation looked into the markets of major countries and highlighted their market potential.
Key Questions Answered in the Cloud Storage Market Report are:
- What are the most promising high-growth opportunities in the global Cloud Storage Market sector, as defined by product category, End User, and Region?
- Which Cloud Storage Market segments will expand the fastest, and why?
- Which areas will expand the fastest, and why?
- What are the primary elements influencing Cloud Storage Market dynamics? What are the primary drivers and obstacles in the Cloud Storage Market?
- What are the Cloud Storage Market’s business risks and dangers?
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