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North America holds a significant share of the cloud storage industry owing to rapid digitisation. The rapid adoption of the latest technologies in the United States is also driving the market growth. Moreover, the increasing research and development (R&D) activities due to the presence of the leading companies to develop advanced cloud storage systems and solutions are augmenting the industry growth. Various organisations in the United States government are increasingly adopting cloud storages to improve their operational flexibility and enhance their services. This is anticipated to fuel the growth of the cloud storage industry. Apart from this, the Asia Pacific region is witnessing robust growth owing to the rising adoption of technologies in India, China, Japan, and South Korea. The emergence of India as an IT hub is increasing the demand for cloud storage, which is expected to further bolster the growth of the cloud storage industry.
Dell Inc. (NYSE: DELL), along with Google Cloud, launched Dell Technologies Cloud OneFS for Google Cloud to aid organisations in controlling exponential data and application growth while easing the flow of files across their private clouds and Google Cloud in May 2020. The cloud storage delivers a native cloud experience combining the scalability and performance of scale-out-network-attached storage. This would enable companies to move and access high-performance computing during demanding workloads without changing or adjusting their applications. This would also diversify consumers’ choice for consuming cloud infrastructure at approximately half the cost, as well as a smaller footprint. Consumers will be able to move workloads across public and private clouds with greater flexibility to adopt a hybrid cloud approach ideal for their demands. Such innovations are anticipated to fuel the market growth.
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The major players in the global market for cloud storage are Alibaba Group Holding Limited, Amazon Web Services, Inc., Dell Inc., Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, and Microsoft Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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