Industry Background:
The cloud storage technology market is expected to witness high growth in the forecasted year due to the growing need for an advanced storage solution. The cloud storage technology term basically implies the storage of data online in the cloud network. It is a service model in which data is automatically maintained, managed and backed up remotely. 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, which in turn augment the global cloud storage technology market growth.According to AMA, the market for Cloud Storage Technology is expected to register a CAGR of 21.5% during the forecast period to 2026. This growth is primarily driven by The Growing Adoption of Hybrid Cloud and Significant Growth in the IoT.
Globally, a noticeable market trend is evident The Growing Need for Technological Advance Solutions
. The Cloud Computing sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as AWS (United States), IBM (United States), Microsoft (United States), Google (United States), Oracle (United States), HPE (United States), Dell EMC (United States), VMware (United States), Rackspace (United States) and Dropbox (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 23rd August 2019, IBM has announced that it will begin to provide, what the industry would call, quantum-safe cryptography services on the IBM public cloud in 2020 and is now offering a Quantum Risk Assessment from IBM Security to help customers assess their risk in the quantum world. Additionally, IBM cryptographers have prototyped the world's first quantum computing safe enterprise-class tape, an important step before commercialization.
Market Drivers
- The Growing Adoption of Hybrid Cloud
- Significant Growth in the IoT
Market Trend
- The Growing Need for Technological Advance Solutions
- Faster and Easier Deployment Storage Solutions
Restraints
- Growing Concern Related to Lack of Network Bandwidth
Opportunities
High Adoption in the Small and Medium-sized Enterprises (SMEs) and Growing Cloud Adoption Across Several Industry Verticals
Challenges
Stiff Competition among the Players
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cloud Storage Technology Study Sheds Light on
The Cloud Storage Technology Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Cloud Storage Technology industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cloud Storage Technology industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.