Cloud Storage Market to Grow at a CAGR of 21.9% from 2020 to 2027 to Reach $222 Billion by 2027 – PRNewswire

DUBLIN, July 20, 2020 /PRNewswire/ -- The "Cloud Storage Market by Component, Deployment Type, User Type and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to's offering.

According to the report, the cloud storage market size was valued at $46.12 billion in 2019, and is projected to reach $222.25 billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.

Cloud storage enhances business operations by leveraging mobile workforce with easy accumulation, archive, access, and data recovery facilities. In addition, cloud enables storage scalability with minimal cost as compared to on-premise data centers, which, in turn, boosts its adoption among small and medium enterprises (SMEs) across the globe. Further, cloud storage has accumulated a high demand among data-specific enterprises due to its flexible, authentic, and secure mode of data storage and availability, which is further expected to drive growth of the cloud storage market in the coming years.

Major cloud computing providers offer cloud storage solutions across all developed and developing regions including North America, Europe, and Asia-Pacific. However, several underdeveloped regions such as Latin America, the Middle East, and Africa with low ICT investments are gradually adopting cloud storage solutions.

Government & education, BFSI, and healthcare industries are expected to exhibit significant growth rates during the forecast period, owing to the need for cost-effective big data storage for stakeholders. Moreover, growing demand forreal time data accessibility by customers of all these industries is expected to drive the cloud storage market during the forecast period.Inrecent years, cloud storage adoption has rapidly increased among several industry verticals including banking, government & education, healthcare, manufacturing, telecommunication & IT, and defense, owing to increase in need for standardized and cost-effective data storage facilities. In addition, several industry verticals such as BFSI, retail, healthcare, and public sector, with a large customer base, tend to store critical business information of stakeholders in cloud storage, owing to data privacy and client information.

Some of the key market players profiled in the cloud storagemarket include Amazon Web Services, Inc., Dell Technologies Inc., Google, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle Corporation, Rackspace Hosting, Inc., Alibaba Cloud, and VMware, Inc.

Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. With increase in artificial intelligence R&D initiatives across the globe, major players have collaborated their product portfolio to provide differentiated and innovative products. This study includes marketanalysis, trends, and future estimations to determine the imminent investment pockets.

Key Findings

Key Topics Covered

Chapter 1: Introduction1.1. Report Description1.2. Key Benefits for Stakeholders1.3. Key Market Segments1.4. Key Market Players1.5. Research Methodology

Chapter 2: Executive Summary2.1. Key Findings2.1.1. Top Impacting Factors2.1.2. Top Investment Pockets2.2. CXO Perspective

Chapter 3: Market Overview3.1. Market Definition and Scope3.2. Key Forces Shaping the Global Cloud Storage Market3.3. Market Dynamics3.3.1. Drivers3.3.1.1. Growing Demand for Low Cost Data Storage and Faster Data Accessibility3.3.1.2. Increase in Cloud Adoption Across Several Industry Verticals3.3.1.3. Growing Concerns of Data Recovery and Protection3.3.2. Restraints3.3.2.1. Security Concerns Over Cloud Storage3.3.3. Opportunities3.3.3.1. Significant Cloud Adoption Among Smes3.4. Industry Roadmap of Cloud Storage3.5. Patent Analysis3.5.1. By Region (2010-2019)3.5.2. By Applicant3.6. Case Studies3.6.1. Carrier Opt for AWS as Its Preferred Cloud Provider to Drive Digital Transformation3.6.2. Broad Institute Replaced Its In-House Genome Sequence Analysis Computers and Storage with Google Cloud Platform3.7. Impact of Government Regulations on the Global Cloud Storage Market3.7.1. Regulations in Canada3.7.2. Regulations in U.S.3.7.3. Regulations in Europe3.7.4. Regulations in Asia-Pacific

Chapter 4: Cloud Storage Market, by Component4.1. Overview4.2. Solution4.3. Services

Chapter 5: Cloud Storage Market, by Deployment Type5.1. Overview5.2. Private5.3. Public5.4. Hybrid

Chapter 6: Cloud Storage Market, by User Type6.1. Overview6.2. Large Enterprises6.3. Small & Medium Enterprises

Chapter 7: Cloud Storage Market, by Industry Vertical7.1. Overview7.2. BFSI7.3. Government & Public Sector7.4. Healthcare7.5. IT & Telecom7.6. Retail7.7. Manufacturing7.8. Media & Entertainment7.9. Others

Chapter 8: Cloud Storage Market, by Region8.1. Overview8.2. North America8.3. Europe8.4. Asia-Pacific8.5. LAMEA

Chapter 9: Competitive Landscape9.1. Key Players Positioning Analysis, 20199.2. Top Winning Strategies9.3. Competitive Dashboard9.4. Key Developments9.4.1. Product Launches9.4.2. Collaboration9.4.3. Partnership9.4.4. Product Development9.4.5. Business Expansion9.4.6. Acquisition

Chapter 10: Company Profiles10.1. Alibaba Group Holding Limited10.1.1. Company Overview10.1.2. Key Executives10.1.3. Company Snapshot10.1.4. Operating Business Segments10.1.5. Product Portfolio10.1.6. Business Performance10.1.7. Key Strategic Moves & Developments10.2. Amazon Web Services, Inc.10.4. Dell EMC10.5. Google LLC10.6. Hewlett Packard Enterprise Development L.P.10.7. International Business Machines Corporation10.8. Microsoft Corporation10.9. Oracle Corporation10.10. Rackspace Hosting, Inc.

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Cloud Storage Market to Grow at a CAGR of 21.9% from 2020 to 2027 to Reach $222 Billion by 2027 - PRNewswire

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