Cloud Storage Market Report is forecast to reach $88.91 billion by 2022 from $30.70 billion in 2017 at a CAGR of 23.7% during (2017-2022) driven by increasing adoption of hybrid cloud storage; growing need for enterprise mobility for improved efficiency; significant growth in Internet of Things (IoT); and need for lower Capital Expenditure (CAPEX) and Operational Expenditure (OPEX).
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The major providers of cloud storage solutions and services are AWS (US), IBM (US), Microsoft (US), Google (US), HPE (US), VMware (US), Rackspace (US), and Dell EMC (US).
North America is expected to hold the largest cloud storage market share and APAC to grow at the fastest rate. North America is expected to hold the largest market share during the forecast period, as organizations are shifting toward cloud storage solutions and services, with an increasing adoption of digital business strategies.
Furthermore, organizations have invested heavily in advanced technologies to gain a competitive advantage and improve business operations. Asia Pacific (APAC) is expected to be the fastest-growing region in the global cloud storage market.
The key reasons for the high growth rate in APAC include the positive economic outlook in the region, increased spending on Information Technology (IT) infrastructure, and the tendency of cloud storage solutions and services to drive customer experience and improve operations.
The data archiving solution type in cloud storage market is expected to grow at the highest CAGR during the forecast period. Data archiving solutions provide long-term data storage along with data retention, security, policy regulation, and compliance fulfillment.
They assist enterprises in reducing the overall primary storage consumption and costs while moving the inactive data to a separate storage at the same time. Data archiving solutions enable enterprises to identify and move the inactive data to a separate storage system for future reference or sometimes for regulatory compliance.
The managed services segment is expected to record the fastest Cloud Storage Market growth rate during the forecast period. Managed services help enterprises focus on their core business, service quality, and end-user experience while delivering optimized and quality IT services through third-party providers, known as Managed Service Providers (MSPs).
MSPs help enterprises by providing IT resources, including servers, networks, and specialized applications, under a delivery agreement. The adoption of managed services has resulted in increased productivity and reduced deployment time.
The cloud storage market is driven by the cloud compliance requirements, enforcing mobility, and uninterrupted business continuity. However, the market would face some restraints, as not all enterprise services are supported in the cloud, and also due to strict government rules and regulations, and fear of vendor lock-ins.
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The cloud storage market has been segmented by type (solutions and services), deployment model, organization size, vertical, and region. A detailed analysis of the key industry players has been done to provide key insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the cloud storage market.
The primary storage solution type is expected to hold the largest cloud storage market size during the forecast period. The break-up profiles of primary participants are given below:
- By Company: Tier 1 - 43%, Tier 2 - 35%, and Tier 3 - 22%
- By Designation: C-level - 60%, Director level - 25%, and Others - 15%
- By Region: North America - 44%, Europe - 25%, APAC - 21%, and RoW - 10%
Another research titled Cloud IDS IPS Market Global Forecast to 2022 says, the global Cloud IDS IPS market is expected to grow from $600.94 million in 2017 to $1764.73 million by 2022, at a CAGR of 24.04%. The anomaly-based detection solution type is expected to account for the largest market share by 2022.
The integration services segment is expected to have the largest market size during the forecast period. The public cloud segment is expected to have the larger market share during the forecast period.
North America is estimated to have the largest market in 2017, whereas Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period. Companies such as Check Point (Israel), NTT Communications (Japan), Trend Micro (Japan), Century Link (US), Cisco (US), Intel (US), Fortinet (US), Imperva (US), Metaflows (US), Hillstone Networks (US), Alert Logic (US) have been profiled in this 125 pages research report available at www.reportsnreports.com/.aspx?name=1265573 .
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