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 Overview:

Cloud storage is a computer data storage strategy in which digital data is kept in logical pools that are referred to as "the cloud." Physical storage is often spread over numerous servers (possibly in various regions), and the physical environment is owned and maintained by a hosting provider. These cloud storage providers are in charge of maintaining the data available and accessible, as well as keeping the physical environment safe, protected, and operational. People and businesses purchase or lease storage capacity from providers to store user, organization, or application data.

Market Scope:

The Global Cloud Storage  Report provides a comprehensive analysis of the market, covering data on several factors such as constraints, opportunities, drivers, and threats. The report provides the most up-to-date research on the current global market development plan, as well as the pre- and post-Covid-19 scenarios. It also provides a comprehensive analysis of the market's size based on end-user applications, products, kinds, trends, and major geographic areas.

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Drivers:

The COVID-19 pandemic has increased the work-from-home culture. Companies must maintain business continuity, accommodate increased workloads, and foster improved cooperation. Data storage in the cloud allows businesses to make it easier for employees to collaborate and distribute files via cloud drives, while also ensuring employees have constant access to data resources and files. According to LogicMonitor's 2020 Cloud 2025 research, more than 85% of global IT decision-makers feel that the COVID-19 outbreak accelerated cloud migration for the vast majority of enterprises globally. According to a survey, the United States, Canada, and the United Kingdom are expected to be at the forefront of cloud migration. Several cloud storage firms rely on file hosting and sharing services offered by corporations such as Microsoft, Oracle, Google, pCloud, Dropbox, and Box. However, the market is dominated by a small number of competitors.

Segmentation:

by Component

• Solutions
• Services

by Application

• Primary Storage
• Backup and Disaster Recovery
• Archiving

by Deployment Type

• Public
• Private
• Hybrid

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

Key Players: the key players are

• 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 report has assessed the global Cloud Storage market in the following regions:

• America, North (the United States, Canada)
• European Union (Germany, France, United Kingdom, Russia)
• Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
• Latin America (Brazil, Argentina, Colombia)
• Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa)

The report also includes the following:

• The analysis looks at how the Cloud Storage market is expected to grow in the future. Using Porter's five forces analysis to examine several perspectives on the Cloud Storage market
• Analyzing the product type that is most likely to dominate the market and the regions that are most likely to see rapid growth throughout the projected period
• Identify new advancements, Cloud Storage market shares, and the leading market players' strategies.

Key Questions answered in the Cloud Storage Market Report are:

• Which key trends are likely to emerge in the Cloud Storage market in the forecast period?
• What will be the Cloud Storage market size by 2027?
• Which company had the biggest share in the Cloud Storage market in 2020?