Industry Background:
The rise in the outbreak of global pandemic COVID 19 is projected to have a positive impact on demand for business cloud services and solutions. Amidst the lockdown imposed by the government to curb the spread of coronavirus infection, businesses encouraging their employees to work from home. The upsurging demand for backup of growing business data set coupled with the need for making this data available to employees working remotely is boosting the demand for cloud storage solutions. North America will maintain the largest share of cloud workloads by 2020.
According to AMA, the market for Business Cloud Storage is expected to register a CAGR of 23.01% during the forecast period to 2026. This growth is primarily driven by Growing data volumes across enterprises and Growing need to provide the remote workforce with ubiquitous access to data and files.
Globally, a noticeable market trend is evident Increasing demand for hybrid cloud solutions and services
. 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 Alibaba Cloud (China), AWS (United States), Box (United States), Citrix (United States), Code 42 Software Inc., Dell Technologies (United States), Dropbox (United States), Fujitsu (Japan), Google (United States), Microsoft (United States), IBM (United States), Huawei (China), Oracle (United States), Rackspace Technology (United States) and HPE (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.
Key Developments in the Market:
On 2nd July, Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group is to launch its third datacentre in Indonesia early next year.
Market Drivers
- Growing data volumes across enterprises
- Growing need to provide the remote workforce with ubiquitous access to data and files
Market Trend
- Increasing demand for hybrid cloud solutions and services
- Rise of containerization
Restraints
- Lifetime storage and egress costs associated with public cloud environments
Opportunities
The emergence of distributed storage arrays and Infusion of AI to achieve data integrity
Challenges
Data privacy and security concerns
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, Business Cloud Storage Study Sheds Light on
The Business Cloud Storage Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Business Cloud Storage industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Business Cloud Storage 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.