About Cloud Storage Providers
Cloud storage providers are also known as managed service providers (MSP), offer organizations and individuals, the ability to place and retain data in an off-site storage system. It is increasing due to flexibility, scalability, and deployment. Due to COVID-19, the demand for services including consulting, training, support, and maintenance, and implementation is also increasing as more companies are moving their workloads to the cloud owing to its scalability, flexibility, and other functions.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Companies in the market are concentrating on software applications. North America, factors including improved customer support, enhanced business continuity, and replacement of conventional IT infrastructure, rising adoption of e-commerce, electronic signature, cybercrimes, and other digital services are expected for the growth of the cloud storage providers market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cloud Storage Providers market throughout the forecasted period. 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 Corporation (United States), Amazon Web Services (United States), Microsoft Corporation (United States), Dropbox, Inc.(United States), VMware, Inc. (United States), Oracle Corporation (United States), AWS (United States), Huawei (China), Alibaba Cloud (China), Rackspace Technology (United States), Dell Technologies (United States) and Tencent Cloud (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Fujitsu (Japan), Hitachi Vantara (US), DigitalOcean (US) and pCloud (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Cloud Storage Providers market by and Region.
On the basis of geography, the market of Cloud Storage Providers 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 End-Use Industries , the sub-segment i.e. Government Sectors will boost the Cloud Storage Providers 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. Banking will boost the Cloud Storage Providers 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. Cloud-Based will boost the Cloud Storage Providers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organization Size , the sub-segment i.e. Large Enterprises will boost the Cloud Storage Providers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Social media analytics influenced end-users to adopt automated storage services to offer real-time enhanced customer experience and Rising adoption of Artificial Intelligence (AI) and Storage as a Service (STaaS) storage model
Market Growth Drivers:
Growing demand for cost-effective data storage, data protection, storage, and security., Increased use of mobile technologies, Rising demand for data backup and disaster recovery solutions, and rising need for providing the remote workforce and Increasing demand for technological advancement such as remote sensing technologies
Challenges:
Data privacy and security concerns
Restraints:
Rules and laws imposed by the government on using cloud services and other legal obligations
Opportunities:
Hybrid cloud storage is expected to drive the growth of the market during the forecast period
Market Leaders and their expansionary development strategies
In March 2023, Akamai Technologies, Inc, the cloud company that powers and protects life online, today announces that it has entered into a definitive agreement to acquire Ondat, a cloud-based storage technology provider with a Kubernetes-native platform for running stateful applications anywhere at scale. The acquisition of Ondat’s cloud storage technology and its industry-recognized talent is intended to strengthen Akamai’s cloud computing offerings.
9 July 2020: Amazon launched the Amazon Elastic Block Store (EBS) direct Application Programming Interfaces (APIs). This program enables customers to create snapshots of their block storage data. The APIs provide read access to EBS snapshots for enabling snapshot creation.
Key Target Audience
Research & Development, Customers, Educations, End-User Industry and Government & Public Sectors
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.