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Home Press Release OpenPR

Navigating the Cloud Storage Market 2033: What Enterprises Need to Know

February 8, 2025
in OpenPR, Web3
Reading Time: 5 mins read
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Cloud Storage Market

Cloud Storage Market

According to the report, the global cloud storage market was estimated at $46.12 billion in 2019, and is expected to hit $222.25 billion by 2027, registering a CAGR of 21.9% from 2020 to 2027.

Growing demand for low-cost data storage and faster data accessibility, rise in cloud adoption across several industry verticals, and growing concerns of data recovery and protection drive the growth of the global cloud storage market. On the other hand, security concerns over cloud storage hamper the growth of the market. Nevertheless, significant cloud adoption among SMEs are expected to create lucrative opportunities shortly.

Download Sample Report (Get Full Insights in PDF – 200 Pages) at: https://www.alliedmarketresearch.com/request-sample/2141

COVID-19 scenario

1. COVID-19 has accelerated cloud adoption, due to the technology shift and operating prototypes due to the limitations of the recent environment.

2. The shift to remote working has positively contributed to the growth of the industry.

3. Moreover, customers from the public sector, web-based services, global logistics companies, and financial services have majorly invested in cloud storage due to rising demands for food and medical supplies.

4. The Industry is anticipated to grow significantly amid COVID-19.

Based on components, the solution segment contributed to nearly two-thirds of the global cloud storage market revenue in 2019, and is expected to retain its dominance by the end of 2027. Growing need for multiple applications such as caching, security, duplication, and data locking in primary cloud storage drives the growth of the market. The service segment, on the other hand, would register the fastest CAGR of 23.2% throughout the forecast period Implementation services ensure comprehensive planning, installing, and configuration of the solution. In addition, managed services offer post-production support which empowers organizations to smoothly transition the process from implementation to daily operations, which drives growth of the market.

Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/2141

Based on deployment mode, the hybrid segment accounted for nearly three-fifths of the global cloud storage market share in 2019, and is anticipated to rule the roost during the study period. In addition, the segment is anticipated to manifest the fastest CAGR of 23.0% from 2020 to 2027. Organizations are shifting toward the hybrid cloud to achieve security of data and application and large storage spaces to reduce their capital expenditure by deploying a combination of the private and public cloud model, which augments the growth of the segment.

Based on region, North America held the largest share in 2019, garnering more than two-fifths of the global cloud storage market, as the region has major market players offering advanced solutions. On the other hand, the Asia-Pacific region is projected to manifest the fastest CAGR of 25.6% by 2027. The rise in adoption of cloud storage solutions in applications and investments in R&D processes have augmented the growth of the market in this region.

Frontrunners in the industry:

Amazon Web Services, Inc.
Dell Technologies Inc.
Google, Inc.
Hewlett Packard Enterprise Development LP
IBM Corporation
Microsoft Corporation
Oracle Corporation
Rackspace Hosting, Inc.
Alibaba Cloud
VMware, Inc.

Make a Direct Purchase: https://www.alliedmarketresearch.com/cloud-storage-market/purchase-options

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help@alliedmarketresearch.com

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

This release was published on openPR.

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