It is estimated for the global Multi Cloud Storage Market to witness growth at a massive CAGR of 22.1% during the forecast period of 2022 to 2030. The market witnessed healthy growth even during the previous forecast period of 2018 to 2021.
The market for multi-cloud storage, which is defined by the use of several cloud service providers for data storage, has been expanding as a result of security concerns, data growth, and the use of hybrid and multi-cloud methods. Companies want to save costs, but they have to deal with issues with security, data portability, and complexity. by major providers like IBM, Dell, AWS, Azure, and Google Cloud. The market is anticipated to keep growing as more businesses use multi-cloud storage to manage their data more effectively and save costs.
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One prominent factor propelling is the many organizations’ broad adoption of the newly popular cloud-based Platform-as-a-Service (PaaS). End users using various platforms can easily access storage across many clouds.
The utilization of multiple cloud services is on the rise as it aids in diminishing reliance on a single vendor. The multi-cloud application management storage platform empowers organizations to enhance their overall performance by leveraging various infrastructure services to meet the computing requirements of their users.
However, integration issues of multi-cloud storage pose a significant restraint for the multi-cloud storage market.
The market is projected to experience growth over the forecast period, driven by increasing demand for multi-cloud storage in industries like BFSI, alongside the necessity for secure and adaptable cloud solutions. This growth trajectory is primarily attributed to the rising demand for cloud services across diverse business sectors. However, it’s important to note that the market’s expansion may encounter some deceleration due to the heightened security risks posed by hackers worldwide breaching cloud systems.
By Deployment Type
By Enterprise Size
By End Use
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Over the course of the projected period, the US region is anticipated to propel market growth. Throughout the course of the projected period, the region’s food industry is expected to benefit from the expanding technical improvements in the field. Over the course of the projected period, Europe is expected to grow at a robust rate. The industry is predicted to increase at a significant rate in the Asia Pacific area as well.
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