Global Cloud Storage market seems to reach USD 353.81 billion by 2028, at a CAGR of 24.48% from 2021 to 2028. Global Cloud Storage market is witnessing a considerable growth owing to the surge in the demand of low-cost data and faster accessibility.
Cloud storage is a cloud computing system provided by the cloud computing provider to store the data on the internet. The cloud computing provider manages the stored data and provide data storage facility as a service to its customer. This cloud storage facility delivered on a Just-in-Time basis on the basis of requirement and cost. Customers who are using the cloud computing have to pay for the storage they are using. It means using this one can get rid of all the capital expenses used to maintain its own data storage infrastructure. So Cloud computing is helping the organization to cut their energy consumption by around 70%, which is making the organization much more advanced, profitable and converting them to green business. Cloud computing provider are the third-party cloud vendor. They provide cloud storage over the internet on the basis of the pay-as-you-go model. These vendors are responsible for the storage capacity, for the security of the data and also for the durability of the data, which means data can be accessible, all across the world for the required applications. The applications can access the cloud storage using API. Some of the vendors provide complementary service to manage, secure and analyze the data at a massive level.
Cloud storage is used by the industries to store the confidential information and documents in a common server, and when required those data or documents can be accessed from any place and at any time. This factor is propelling the cloud storage market. Cloud storage has many advantages one of the advantages is that it can be used for the data or information backup in case of natural disaster as there are 2 to 3 different backup servers are kept in a different part of the globe. The performance of cloud storage is a little lower than the local storage, and it also depends on the WAN network. Various industries like healthcare, retail, manufacturing, IT and BFSI etc. have started using cloud computing because of the low cost of the data storage and also because it reduces the capital expenses, All these factors are driving the cloud storage market.
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The advancement in technology has brought many changes as the cloud storage facility came with the advancement in technology. The Cloud storage eliminates the use of storage infrastructure of the company, so it helps in reducing the capital expenses of the organization. This is the reason that slowly and slowly, every organization started adopting it as it reduces the power consumption by 70%. This has led to an increase in the customers, which has brought low-cost data storage; this again is surging the demand of cloud storage. The advancement in technology has brought now better hardware and better internet facilities which has brought faster accessibility of cloud computing. The person now can store the secret document in the cloud and can access it at any time from any place. All these factors are driving the cloud storage market.
Many industry verticals such as telecommunication, IT, healthcare, retail and BFSI have started using the facility of cloud storage and cloud computing. This trend is increasing because of the low-cost data storage. Also, the customer base is also increasing, so it’s become quite logical to start using the cloud storage facilities rather than buying more storage devices, as this will increase the capital investment. The advancement in technologies has also brought better infrastructure, better hardware and internet services, which is also helping in the growth of the cloud storage market as it increases the performance while using cloud facilities.
The major restraint for the market is the data security. All the health care industries, insurance and big bank firms are now connected to the cloud. So all the data and information of these organizations are now stored in the cloud, which means all the personal data of the clients and the confidential data of the client are stored in the cloud. And no system is completely hackproof, which means, in case of any hacker got successful in hacking even some part of data, many personal information can be leaked of the customer, which could be used against these industries and against the customer whose data got leaked.
The evolving business community, better infrastructure along with faster replacement of conventional IT infrastructure are some of the factors leading to faster adoption of cloud storage by the SMEs. The growing infrastructure with the advancement in technologies, the growing customers due to an increase in disposable income in developed and developing countries have created the need for more storage devices. The better internet facilities now given the SMEs the good option to use cloud computing services for their daily operations, which is now available at low-cost data storage, and therefore reduces the capital investment of the SMEs, which is a big deal for small and medium level enterprises. These factors will propel the cloud storage market in the forecasting period.
The global Cloud Storage market has been segmented based on component, deployment type, user type, industry vertical and regions.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. North America is accounting for the highest marketing share in 2020.
North America Cloud Storage Market Share in 2020- 41.10%
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The big players are now focused in the implementation of strategies like joint venture, product innovations, merger and acquisition and partnerships etc. to gain the market share and to strengthen its position in the global Cloud Storage industry.
In July 2019, Amazon Web Services (AWS) acquired startup company E8. This acquisition would help the organization in maintaining the leadership position in the public cloud infrastructure market.
In October 2019, Oracle announced to acquire Crowd Twist. By this acquisition, the organization will extend Oracle CX cloud organization with leading cloud loyalty solution of Crowd Twist.
As per The Brainy Insights, the size of the Cloud Storage market was valued at USD 61.37 billion in 2020 and is anticipated to reach USD 353.81 billion by 2028.
Global Cloud Storage market is growing at a CAGR of 24.48% during the forecast period 2021-2028.
The global Cloud Storage market has been segmented based on component, deployment type, user type, industry vertical and regions. Large enterprise segment is accounted for the largest market share in 2020.
The North America region emerged as the largest market for the Cloud Storage.
The surge in the demand of low-cost data is the key driving factors for the Cloud Storage market.
The security concern of data could hamper the market growth.
The surge in the adoption of cloud storage by the SMEs will provide huge opportunities to the market.
Key players are AWS, IBM, Microsoft, Google, Oracle, HPE, Dell EMC.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Component
4.3.2. Market Attractiveness Analysis By Deployment Type
4.3.3. Market Attractiveness Analysis By User Type
4.3.4. Market Attractiveness Analysis By Industry Vertical
4.3.5. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.3. Restraints
5.4. Opportunities
5.5. Challenges
6. Global Cloud Storage Market Analysis and Forecast, By Component
6.1. Segment Overview
6.2. Solution
6.3. Services
7. Global Cloud Storage Market Analysis and Forecast, By Deployment Type
7.1. Segment Overview
7.2. Private
7.3. Public
7.4. Hybrid
8. Global Cloud Storage Market Analysis and Forecast, By User Type
8.1. Segment Overview
8.2. Large Enterprises
8.3. Small and Medium Enterprises
9. Global Cloud Storage Market Analysis and Forecast, By Industry Vertical
9.1. Segment Overview
9.2. BFSI
9.3. Government & Public Sector
9.4. Healthcare
9.5. IT & Telecom
9.6. Retail
9.7. Manufacturing
9.8. Media & Entertainment
9.9. Others
10. Global Cloud Storage Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Cloud Storage Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in Global Cloud Storage Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Component Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. AWS
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. IBM
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. Microsoft
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Google
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Oracle
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. HPE
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Dell EMC
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. B. VMware
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Rackspace
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Dropbox
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
List of Table
1. Global Cloud Storage Market, By Component , 2018–2028 (USD Billion)
2. Global Solution Cloud Storage Market, By Region, 2018–2028 (USD Billion)
3. Global Services Cloud Storage Market, By Region, 2018–2028 (USD Billion)
4. Global Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
5. Global Private, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
6. Global Public, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
7. Global Hybrid, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
8. Global Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
9. Global Large Enterprises, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
10. Global Small and Medium Enterprises, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
11. Global Barley, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
12. Global Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
13. Global BFSI, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
14. Global Government & Public Sector, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
15. Global Healthcare, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
16. Global IT & Telecom, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
17. Global Retail, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
18. Global Manufacturing, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
19. Global Media & Entertainment, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
20. Global Others, Cloud Storage Market, By Region, 2018–2028 (USD Billion)
21. Global Cloud Storage Market, By Region, 2018–2028 (USD Billion)
22. Global Cloud Storage Market, By North America, 2018–2028 (USD Billion)
23. North America Cloud Storage Market, By Component , 2018–2028 (USD Billion)
24. North America Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
25. North America Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
26. North America Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
27. U.S. Cloud Storage Market, By Component , 2018–2028 (USD Billion)
28. U.S. Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
29. U.S. Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
30. U.S. Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
31. Canada Cloud Storage Market, By Component , 2018–2028 (USD Billion)
32. Canada Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
33. Canada Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
34. Canada Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
35. Mexico Cloud Storage Market, By Component , 2018–2028 (USD Billion)
36. Mexico Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
37. Mexico Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
38. Mexico Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
39. Europe Cloud Storage Market, By Component , 2018–2028 (USD Billion)
40. Europe Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
41. Europe Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
42. Europe Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
43. Germany Cloud Storage Market, By Component , 2018–2028 (USD Billion)
44. Germany Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
45. Germany Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
46. Germany Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
47. France Cloud Storage Market, By Component , 2018–2028 (USD Billion)
48. France Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
49. France Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
50. France Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
51. U.K. Cloud Storage Market, By Component , 2018–2028 (USD Billion)
52. U.K. Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
53. U.K. Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
54. U.K. Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
55. Italy Cloud Storage Market, By Component , 2018–2028 (USD Billion)
56. Italy Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
57. Italy Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
58. Italy Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
59. Spain Cloud Storage Market, By Component , 2018–2028 (USD Billion)
60. Spain Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
61. Spain Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
62. Spain Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
63. Asia Pacific Cloud Storage Market, By Component , 2018–2028 (USD Billion)
64. Asia Pacific Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
65. Asia Pacific Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
66. Asia Pacific Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
67. Japan Cloud Storage Market, By Component , 2018–2028 (USD Billion)
68. Japan Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
69. Japan Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
70. Japan Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
71. China Cloud Storage Market, By Component , 2018–2028 (USD Billion)
72. China Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
73. China Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
74. China Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
75. India Cloud Storage Market, By Component , 2018–2028 (USD Billion)
76. India Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
77. India Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
78. India Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
79. South America Cloud Storage Market, By Component , 2018–2028 (USD Billion)
80. South America Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
81. South America Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
82. South America Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
83. Brazil Cloud Storage Market, By Component , 2018–2028 (USD Billion)
84. Brazil Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
85. Brazil Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
86. Brazil Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
87. Middle East and Africa Cloud Storage Market, By Component , 2018–2028 (USD Billion)
88. Middle East and Africa Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
89. Middle East and Africa Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
90. Middle East and Africa Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
91. UAE Cloud Storage Market, By Component , 2018–2028 (USD Billion)
92. UAE Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
93. UAE Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
94. UAE Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
95. South Africa Cloud Storage Market, By Component , 2018–2028 (USD Billion)
96. South Africa Cloud Storage Market, By Deployment Type , 2018–2028 (USD Billion)
97. South Africa Cloud Storage Market, By Industry Vertical , 2018–2028 (USD Billion)
98. South Africa Cloud Storage Market, By User Type , 2018–2028 (USD Billion)
List of Figures
1. Global Cloud Storage Market Segmentation
2. Cloud Storage Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Cloud Storage Market Attractiveness Analysis By Component
9. Global Cloud Storage Market Attractiveness Analysis By Deployment Type
10. Global Cloud Storage Market Attractiveness Analysis By User Type
11. Global Cloud Storage Market Attractiveness Analysis By Industry Vertical
12. Global Cloud Storage Market Attractiveness Analysis By Region
13. Global Cloud Storage Market: Dynamics
14. Global Cloud Storage Market Share By Component (2021 & 2028)
15. Global Cloud Storage Market Share by Deployment Type (2021 & 2028)
16. Global Cloud Storage Market Share by User Type (2021 & 2028)
17. Global Cloud Storage Market Share by Industry Vertical (2021 & 2028)
18. Global Cloud Storage Market Share by Regions (2021 & 2028)
19. Global Cloud Storage Market Share by Company (2020)
This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global Cloud Storage market on the basis of below mentioned segments:
Global Cloud Storage Market by Component:
Global Cloud Storage Market by Deployment Type:
Global Cloud Storage Market by User Type:
Global Cloud Storage Market by Industry Vertical:
Global Cloud Storage Market by Region:
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