About Cloud Object Storage
Cloud Object Storage is a scalable and cost-effective solution for storing and managing unstructured data in the cloud. Unlike traditional file or block storage, object storage organizes data into self-contained units called objects, which include the data itself, metadata, and a unique identifier. This architecture enables efficient data retrieval and management, making it ideal for handling large volumes of data generated by modern applications. Key features of cloud object storage include scalability, durability, and accessibility. It can store petabytes of data without performance degradation, and data is replicated across multiple locations to ensure durability and disaster recovery. Users can access their data via APIs, enabling seamless integration with applications and workflows. Cloud object storage is widely used in applications such as data backup, disaster recovery, content delivery, and big data analytics. It supports a variety of use cases, including media storage for streaming platforms, archival storage for compliance, and storage for AI/ML datasets. As data generation grows exponentially, cloud object storage continues to play a critical role in modern IT infrastructure.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The cloud object storage market is highly competitive, with several leading players offering a variety of storage solutions to cater to the growing demand for scalable, secure, and cost-effective data storage. Key players in the market are investing heavily in technology innovation, service expansion, and strategic partnerships to strengthen their market position Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM, Dell, Hewlett-Packard Enterprise, Hitachi Data Systems, Caringo Inc., Datadirect Networks, International Data Corporation, Netapp, Inc., Microsoft Corporation, Google, Elastifile, OSNEXUS and Iron Mountain are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Cloud Object Storage market by Type (Block Storage, Object Storage and File Storage) and Region.
On the basis of geography, the market of Cloud Object Storage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small and Medium Enterprises will boost the Cloud Object Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Revenue Mode, the sub-segment i.e. Subscription Based will boost the Cloud Object Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Cloud Object Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Public Cloud Storage will boost the Cloud Object Storage market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
As organizations become more environmentally conscious, there is an increasing trend toward adopting sustainable cloud storage solutions. Cloud providers are focusing on reducing their carbon footprints by using renewable energy sources and designing more energy-efficient data centers to meet the demand for greener cloud services.
Market Growth Drivers:
The rapid increase in data generation from IoT devices, social media platforms, and enterprise applications drives the need for scalable storage solutions. Cloud object storage offers the capacity to manage and store vast amounts of unstructured data efficiently.
Challenges:
Adhering to local and international data protection regulations, such as GDPR or HIPAA, can be challenging when using cloud storage. Data sovereignty concerns arise when data is stored in data centers located in different countries, making it difficult for organizations to ensure compliance with jurisdiction-specific laws.
Restraints:
Despite advancements in encryption and security protocols, some organizations remain concerned about storing sensitive data in the cloud. The risk of data breaches, unauthorized access, and potential vulnerabilities in cloud infrastructure can deter businesses from fully adopting cloud object storage, especially in regulated industries.
Opportunities:
As more organizations shift to cloud computing, there is a significant opportunity for cloud object storage providers to capture a growing market. Companies are increasingly adopting hybrid and multi-cloud strategies, which create demand for flexible and scalable storage solutions.
Market Leaders and their expansionary development strategies
On July 2024, Quantum finalized the acquisition of ActiveScale, Western Digital's object storage software and erasure coding business. This move strengthens Quantum's position in the digital storage sector, enabling it to offer more comprehensive and scalable storage solutions to its clients
Organizations are increasingly adopting hybrid and multi-cloud strategies to enhance flexibility, reduce dependency on a single provider, and optimize costs. This trend is influencing the design and deployment of cloud object storage solutions.
Many countries have strict data sovereignty laws that require data to be stored within their borders. These regulations affect cloud object storage providers, as they must ensure compliance with local laws regarding where data is stored and processed. Organizations must carefully select cloud providers that offer data storage solutions that comply with regional regulations, which can limit their choice of providers and increase costs
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.