Cloud Storage Market compliance requirements, enforcing mobility, and uninterrupted business continuity are expected to drive the cloud storage market. Cloud storage market size is expected to grow from USD 23.48 Billion in 2016 to USD 88.91 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.7% during forecast period. The base year considered for this study is 2016 & forecast period is 2017–2022.
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The cloud storage market has been segmented on the basis of types (solutions and services), deployment models, organization sizes, verticals, and regions. The managed services segment is expected to grow at the highest CAGR during the forecast period, and the training and consulting service type is estimated to have the largest market size in 2017 in the cloud storage market.
Key Target Audience
- Training and consulting service providers
- Cloud storage vendors
- Cloud service providers
- Telecom service providers
- System integrators
- Government agencies
- Managed service providers
The cloud storage market has been segmented on the basis of types (solutions and services), deployment models, organization sizes, verticals, and regions.
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The managed services segment is expected to grow at the highest CAGR during the forecast period, and the training and consulting service type is estimated to have the largest market size in 2017 in the cloud storage market.
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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 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%
Major vendors providing cloud storage are AWS (US), IBM (US), Microsoft (US), Google (US), Oracle (US), HPE (US), Dell EMC (US), VMware (US), Rackspace (US), and Dropbox (US). These players have adopted various strategies, such as new product developments; mergers and acquisitions; and collaborations and partnerships, to expand their presence in the global cloud storage market.
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North America is estimated to hold the largest market size in 2017, whereas the Asia Pacific (APAC) region is projected to grow at the highest CAGR during the forecast period in the cloud storage market. An increasing need for efficient computing framework and shifting workload to the cloud environment are said to be driving the demand for cloud storage, globally.
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