Cloud Storage Market Research Report

 

The GMI Research forecasts that the cold storage market is witnessing an upsurge in demand during the forecast period. This is mainly due to the increasing adoption of cloud across multiple industries and the emerging demand for a cost-effective storage solution.

Top Manufacturers in the Cloud Storage Market:

·        Microsoft

·        IBM Corporation

·        Google Inc.

·        Amazon Web Services, Inc.

·        Oracle Corporation

·        VMWare

·        Alibaba Cloud

·        Hewlett Packard Enterprise Development LP

·        Rackspace Inc.

·        Dell EMC

Cloud Storage Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The increasing adoption of cloud across multiple industry verticals include healthcare, BFSI, and other industries, and the emerging demand for a cost-effective storage solution are some of the major factors surging the growth of the global cloud storage market. Moreover, the growing penetration of hybrid cloud storage owing to scalability & control, improved security, and rapid technological advancements for the development of cloud storage are the major factors increasing the adoption of cloud storage in the upcoming years.

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Cloud storage provides exceptional advantages, including reliability, easy accessibility of data, better protection at the time of the disaster, workload balance, and efficient information management. Furthermore, the continuous rise in the execution of IoT and the increasing adoption of cloud storage among the small and medium-sized businesses to reduce the Opex and Capex are further boosting the demand of the market during the forecast period. On the other hand, restricted network bandwidth and rising concerns regarding data security will hamper the growth of the global cloud storage market share in terms of revenue. The outbreak of the COVID-19 pandemic will positively impact the growth of the global cloud storage market size. The significant shift towards remote working and the increasing preference to stay at home are the emerging cloud storage market trend that will enhance the demand of the market, particularly in 2020.

Regional Drivers

Based on the region, North America is projected to grow at a higher CAGR during the forecast period. This is attributed to the strong presence of several enterprises adopting cloud storage and enhanced IT infrastructure. Moreover, rising demand for enterprise mobility to improve the efficiency, the presence of the key cloud storage vendors, growing demand for enterprise mobility to increase the efficiency, and increasing investments in the R&D activities for the cloud-based solutions are some other factors energizing the growth of the market in this region.

Cloud Storage Market Segmentation:

Segmentation by Type:

·        File Storage

·        Object Storage

·        Block Storage

Segmentation by Component:

·        Solutions

o    Disaster Recovery & Backup

o    Primary Storage

o    Data Archiving

o    Cloud Storage Gateway

·        Services

o    Integration & Migration

o    Training & Consulting

o    Support & Maintenance

o    Managed Services

Segmentation by Deployment Model:

·        Private Cloud

·        Public Cloud

·        Hybrid Cloud

Segmentation by Organization Size:

·        Small & Medium-Sized Enterprises

·        Large Enterprises

Segmentation by Vertical:

·        Telecommunications

·        BFSI

·        Energy & Utilities

·        IT & ITeS

·        Healthcare & Life Sciences

·        Education

·        Manufacturing

·        Government & Public Sector

·        Consumer Goods & Retail

·        Media & Entertainment

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research's extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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