Some of the prominent players in the market through strategic partnerships, mergers & acquisitions, research & developments have been able to further the technology. To understand geography trends, Download Sample Report. Cloud storage is based on highly virtualized infrastructure and is like broader cloud computing in terms of interfaces, near-instant elasticity and scalability, multi-tenancy, and metered resources. Moreover, cheap and secure storage options result in rapid industrial development. This also is expected to boost the adoption of the cloud storage over the forecast period. are cited in the report. Cloud Storage Services Market Report Coverage: Key Growth Factors & Challenges, Segmentation & Regional Outlook, Top Industry Trends & Opportunities, Competition Analysis, COVID-19 Impact Analysis & Projected Recovery, and Market Sizing & Forecast. As worldwide server revenue reached $24 billion in the second quarter of 2020 amid the COVID-19 pandemic, Hewlett Packard Enterprise and Dell Technologies are neck and neck in market-share … This is expected to boost the cloud storage market’s growth over the forecast period. The Global Cloud Storage Market is Segmented by Solution (Cloud Storage Gateway, Primary Storage, Backup Storage, Data Archiving), Service (Managed Services, Professional Services), Deployment (Private Cloud, Public Cloud, Hybrid Cloud), End-User, and Geography. According to a study published by CenturyLink, a telecommunications company, the cloud computing technology is expected to generate revenue of USD 411 billion by 2020, across the world. For instance, in June 2019, Indian Army announced its plans to expand its cloud computing network for storing and sharing operational and personnel information such as deployments, movement of formations and health and service records. A recent market research report added to repository of Credible Markets is an in-depth analysis of “Global Cloud Storage Services Market… Cloud storage and file-sharing services enable distributed organizations to securely share large files, store them in the cloud, synchronize them across devices, and provide access so clients and colleagues can collaborate without the fear of losing data. Click here. Gartner projects global public cloud revenue will grow 17% in 2020 to $266.4 billion. Complete Market Research, Market Analysis, CAGR, Trends, Major Players, Market Share, Market Size. A survey by Cisco reported that 69% of the IT decision makers favor BYOD as an optimistic addition to workplace policy as it saves workers time. The cloud enables the bank to synchronize the enterprise; to break down operational and data silos across risk, finance, regulatory, customer support, amongst others and more importantly, it allows such institutions to combine such massive data sets in one place, and can apply advanced analytics for integrated insights. The cloud data storage services are paid on a per-consumption, and monthly rate. One of the highest-growth secular tech trends of the 2020s will be cloud computing. Market share held by all product segments. We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. Private Storage Cloud Market - 2019-2025 Market Overview In 2018, the global Private Storage Cloud market size was million US$ and it is expected to … Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities. The market overview, market dynamics, market growth, etc. North America is expected to hold a significant share owing to early adoption of new technologies,  huge investments in R&D for the cloud-based solutions, and enhanced IT infrastructure. Updates on mergers, acquisitions, and expansion plans of leading players. Report scope can be customized per your requirements. All Rights Reserved. © 2020. Also, the increasing initiatives from the government or related regulatory bodies pertaining to the storage of large volumes data are propelling the institutions to opt for cloud storage. Basic business information, along with product portfolio comprising detailed specifications and top applications. Cloud Storage Market Size & Growth (2019 - 2024) The cloud storage market is expected to grow from USD 32.72 billion in 2019 to USD 106.71 billion by 2024, with an average annual growth rate (CAGR) of 23.76% over the forecast period. Hence, with the growing number of mobile workers in organizations and workplaces, there has been a subsequent rise in the data generated and managed. Regional segmentation: North America, Europe, Asia-Pacific, South America, Middle East & Africa, South East Asia. This is expected to fuel the demand for cloud storage over the forecast period. We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place. Through strategic partnerships, research and developments, and mergers & acquisition these players have been able to gain a greater footprint in the market. Also, the hybrid cloud deployment is occupying a continuously increasing share in the cloud market. Growth rate estimates for all product types over the forecast duration. If processors based on Arm become the norm in the data center, the industry can thank the gravitational pull of AWS… For instance, in September 2019,  Facilis Technology announced that it had entered into a strategic partnership with Qualstar on Object Cloud storage solution. AWS was the first cloud computing and offering infrastructure as a service in 2008 and has never looked back as it launches new services at a breakneck pace and is creating its own compute stack that aims to be more efficient and pass those savings along. In the latest Consumer Cloud Storage Services market report, numerous aspects pivotal to the industry augmentation in the recent past as well as the key global developments are analyzed to help businesses stay ahead of the curve. Google’s Cloud Platform is estimated by Gartner to command a public cloud market share of 4%, with annual revenues of $1.3 billion and growth of 60% in 2018. 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