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 Scope :
The Cloud Storage Market report presents analytical data that highlights key aspects such as trends, targets, market position, and market value during the forecast period. The competitive analysis covers the major market players, their production capacity, and the demand and supply of their products and services. The report includes key players as well as aspiring companies in the Cloud Storage market. The segmentation analysis aids in understanding different datasets and provides behavioral and geographical analysis to capture significant changes in the forecast period. It also reveals opportunities and revenue generation potential for leading players in the Cloud Storage market. SWOT analysis is performed as a strategic planning and management technique to identify strengths, weaknesses, opportunities, and threats related to business competition or project planning. Porter’s analysis is conducted to assess an organization’s strengths, weaknesses, and critical factors affecting profitability. PESTLE analysis is a strategic framework used to evaluate the operating environment of an organization.
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Cloud Storage Market Overview :
Maximize Market Research, a leading business consultancy has published a research report on the Cloud Storage market. The report showcases the global growth of the Cloud Storage market, projecting its upward trajectory until 2029. It provides valuable insights into key industries and offers comprehensive data analysis. The report presents graphical representations that illustrate the current position and potential of the market.
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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
During the anticipated period, the public segment of the cloud storage market is anticipated to expand at a CAGR of 7.3%. Cost-effectiveness, outstanding dependability, the absence of maintenance requirements, and unlimited scalability are some of the key factors fostering revenue growth in this market. Public clouds are managed by third-party service providers for licencing storage capacity. Simple file data repositories are offered by public cloud file services for use in collaboration, sharing, and archiving. A wide range of Application Programming Interfaces (APIs) are available with public cloud storage, and it also provides highly automated management.
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
During the projection period, the BFSI segment of the cloud storage market is anticipated to expand at a CAGR of 7.4%. This segment’s revenue growth is primarily being driven by the growing demand for secure storage solutions, fast digitalization, and use of channels like e-wallets, net banking, and digital payments, among others. It is essential to create smarter business platforms that are more flexible, adaptive, and scalable because financial institutions must make data-driven decisions to preserve a competitive advantage. To enhance customer service and lower operating costs for increased profitability, major firms building data centres in their neighbourhoods are driving the use of various cloud storage solutions in the BFSI sector.
Cloud Storage Market Key Players :
• 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)
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Regional Analysis
The analysis presents segmented data by region in a visual format. It offers an overview of the market, comparing it regionally based on the market value of products, demands, and the position of key market players. It also highlights targeted regions and their production capacities. This report assists in implementing new strategies tailored to specific countries and regions within the market.
Key Questions Answered in the Cloud Storage Market Market Report:
- What is the definition of the Cloud Storage Market?
- What is the forecast period for the Cloud Storage Market?
- What is the competitive landscape of the Cloud Storage Market?
- Which region holds the largest market share in the Cloud Storage Market?
- What are the opportunities for the Cloud Storage Market?
- What factors are influencing the growth of the Cloud Storage Market?
- Who are the key players in the Cloud Storage Market?
- Which company holds the largest share in the Cloud Storage Market?
- What will be the compound annual growth rate (CAGR) of the Cloud Storage Market during the forecast period?
- What key trends are expected to emerge in the Cloud Storage Market in the coming years?
Key Offerings:
- Market Share, Size, and Revenue Forecast | 2022-2029
- Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
- Market Segmentation: Detailed analysis by Cloud Storage Market
- Landscape: Leading key players and other prominent participants
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