Cloud Storage Market 2022 Key Players, Segments, Applications, Types, Competitors, Demographics and Forecast to 2030

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The need for fast data access for remote workforce efficiency is a key driver of cloud storage market revenue growth

Cloud Storage Market Size – USD 70.35 Billion in 2021, Market Growth – at a CAGR of 24.3%, Market Trends – Profitable and Reduced Total Cost of Ownership »

— Emerging research

VANCOUER, BC, CANADA, August 30, 2022 /EINPresswire.com/ — The Global cloud storage market The size reached USD 70.35 billion in 2021 and is expected to register a CAGR of 24.3% during the forecast period, according to the latest analysis from Emergen Research. Rising demand for fast data access for remote workforce efficiency and rapid adoption of digitalization are key factors driving the market revenue growth.

Cloud storage effectively outsources enterprise storage needs by reducing expenditure on internal resources, servers and hard drives. Moreover, automatic synchronization and ease of access are other key factors driving the demand for cloud storage solutions. The growing demand for cloud storage solutions is also leading to efficient data and file management, including ease of sharing and collaboration, provision of backups, and the ability to store data for extended durations. Faster construction and flexible deployments besides easy recovery in case of hard drive failure or any malfunction are key factors driving the market revenue growth.

Some of the major players operating in the market are:

Google, Amazon Web Services, Inc., IBM, Dell Inc., Microsoft, Hewlett Packard Enterprise Development LP, Oracle, Alibaba Cloud, Dropbox and Rackspace Technology.

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Sample PDF report Contains the following information:

Cloud Storage Market Overview (Drivers, Restraints, Opportunities and Trends)
PESTLE ANALYSIS, PORTER’s Five Forces Analysis and Opportunity Map Analysis
Insights by region, BPS analysis, marketing strategy, methodology and data source.
Manufacturer analysis and many more…

Scope of Global Cloud Storage Market Report:

The report makes an accurate estimation of the growth prospects of various market segments by studying the current market scenario, past performance, supply and demand ratio, production, consumption, sales, and generation of revenues of major players in the coming years. The market segmentation provides a 360° view of the Cloud Storage market industry, which proves beneficial for the readers interested in this sector.

Access the Full Cloud Storage Market Report Summary @ https://www.emergenresearch.com/industry-report/cloud-storage-market

The report highlights the current impact of COVID-19 on the Cloud Storage market along with the latest economic scenario and changing market dynamics. It analyzes the impact of the pandemic on market growth and compensation. The pandemic has changed the economic scenario of the world and affected several market sectors. The report estimates the Cloud Storage Market based on the impact of COVID-19.

Some key highlights of the report:

The storage segment includes sub-segments such as file storage, object storage, and block storage. The storage segment accounted for a significantly robust revenue share in 2021 due to high demand for reliable storage and easy access, as well as rapidly increasing data volumes across various businesses and industries. Growing demand for cloud storage for improved collaboration and productivity for efficient management, especially after the COVID-19 pandemic, which has resulted in more storage capacity for remote workers.

The public segment accounted for a significantly large revenue share in 2021. Cost-effectiveness, high reliability, no maintenance requirement, and unlimited scalability are some of the key factors driving the revenue growth of this segment. Public clouds are operated by third-party service providers for licensing storage capacity. Public cloud file services provide easy-to-use file data repositories for collaboration, sharing, and archiving. On June 27, 2022, Oracle introduced a lower entry point for the dedicated Oracle Cloud Infrastructure (OCI) region in addition to a preview of Compute [email protected] services. OCI Dedicated Region delivers full public cloud to customer data centers with a new, smaller footprint at a reduced price.

The Banking, Financial Services and Insurance (BFSI) segment accounted for a significantly large revenue share in 2021. Rapid digitization and usage of e-wallet, netbanking and digital payments, among others, are key factors driving are driving segment revenue growth owing to the high requirement for secure storage models. The growing need for financial institutions to make data-driven decisions to gain competitive advantage requires the implementation of smarter, flexible, adaptive and scalable business platforms.

Segments covered in the report:

Emergen Research has segmented the global cloud storage market based on component, deployment type, industry, and region:

Components Outlook (Revenue, USD Billion; 2019-2030)
Storage
File storage
Object storage
Block storage
Services

Deployment Type Outlook (Revenue, USD Billion; 2019-2030)
Hybrid
Private
Audience

Explore the Complete Index of 2022 Cloud Storage Market Research Report

Industry Outlook (Revenue, USD Billion; 2019-2030)
Bank, Financial Services and Insurance (BFSI)
Government
Detail
IT & Telecommunications
Manufacturing
Health care
Others

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Geographic segment covered in the report:

The Cloud Storage market provides information about the market area, which is subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region over the estimated period.

North America (USA and Canada)
Europe (UK, Germany, France and Rest of Europe)
Asia-Pacific (China, Japan, India and the rest of the Asia-Pacific region)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East and Africa (GCC and Rest of Middle East and Africa)

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Answers to key questions in the report:

What is the growth potential of the Cloud Storage market?

Which product category will be the most profitable?

In the years to come, which regional market will become the leader?

Which application segment will continue to grow at a steady pace?

What are the potential growth opportunities in the Cloud Storage market in the coming years?

What are the most significant challenges cloud storage markets may face in the future?

Who are the key companies in the Cloud Storage market?

What are the key trends positively impacting the growth of the Market?

About Us :

Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy.

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Emerging research
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