How Big is The cloud storage market?
The global cloud storage market size reached US$ 83.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 247.5 Billion by 2028, exhibiting a growth rate (CAGR) of 19.5% during 2023-2028.
What is cloud storage?
Cloud storage refers to a cloud computing model that involves storing data on remote servers and accessing it through a dedicated private network connection or internet. It is operated, maintained, and managed by cloud storage service providers. It provides immediate automatic backup, theft and natural disaster protection, and reduced costs of maintaining and managing the servers. It also offers a scalable and affordable alternative for storing files on on-premises hard drives or storage networks. As a result, cloud storage finds extensive applications in the telecommunications, media and entertainment, manufacturing, and information technology (IT) industries across the globe.
Request for a free sample copy of this report: https://www.imarcgroup.com/cloud-storage-market/requestsample
What are the growth prospects and trends in the cloud storage industry?
The global cloud storage market is primarily driven by the rising volumes of data created, copied, and consumed, coupled with the rapid expansion of the banking, financial services, and insurance (BFSI) sector. Moreover, the rising use of cloud storage solutions in the healthcare industry, as they provide easier access to electronic medical records (EMR) that are essential for the treatment and diagnosis of patients, is positively influencing the market growth.
Additionally, these solutions provide real-time medical data backup by helping healthcare providers restore the data in the case of hardware failure, power cuts, and data breaches, ensuring minimal interruption or disruption to patient care. In line with this, the rising automation in numerous industry verticals is catalyzing market growth. Furthermore, the surging adoption of remote working due to the sudden coronavirus disease (COVID-19) outbreak and the consequent imposition of lockdowns in various countries is propelling the market growth. Other factors, including the rising adoption of serverless cloud, an escalating volume of unstructured data, and increasing integration of artificial intelligence (AI) technology, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Solution
- Services
Breakup by Deployment Type:
- Private
- Public
- Hybrid
Breakup by User Type:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- BFSI
- Government and Public Sector
- Healthcare
- IT and Telecom
- Retail
- Manufacturing
- Media and Entertainment
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
- Alibaba Group Holding Limited
- Amazon Web Services Inc. (Amazon.com Inc.)
- Dell Technologies Inc.
- Dropbox Inc.
- Google LLC (Alphabet Inc.)
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co. Ltd.
- International Business Machines Corporation
- Microsoft Corporation
- NetApp Inc.
- Oracle Corporation and VMware Inc (Broadcom Inc.).
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
USA: +1-631-791-1145 | Asia: +91-120-433-0800
Email: sales@imarcgroup.com
Follow us on Twitter: @imarcglobal
LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/
