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Global Cloud Storage Market: By Component: Solutions, Service; By Deployment Type: Private, Public, Hybrid; By Organisation Size: Large Enterprise, Small and Medium Enterprise; By Industry; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Cloud Storage Market Outlook

The global cloud storage market attained a value of about USD 56 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 21.9% to reach nearly USD 182 billion by 2026.

 

Global Cloud Storage Market

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Increasing Use of Cloud Storage by Various Governments Boosting the Market Growth of Cloud Storage

Government organisations are increasingly using cloud systems owing to their cost-effectiveness to optimise their business models. It is also adopted to increase business flexibility and improve citizen services. Various government organisations are reducing their IT ownership and hardware costs by expanding their footprints through cloud services while minimising energy consumption. The rising demand to improve efficiency in the public sector is also increasing the use of cloud storage, hence augmenting the industry growth. Moreover, various governments are launching and promoting the deployment of cloud storage, which is propelling the market growth. For instance, the Niti Aayog of the Indian government launched the country’s own cloud storage and data management platform, DiGiBOXX, to offer cost-effective cloud storage services as a part of the country’s self-reliance mission in December 2020.

The increasing adoption of cloud storage in the healthcare industry to improve the focus on healthcare services is aiding the market growth. It is used to improve operational flexibility as well as increase mobility for effective healthcare systems. It can aid the fast-paced industry by providing a convenient and cost-effective platform for updating vital information regarding patient care, diagnosis, and treatment. This is expected to increase the use of cloud storage in various hospitals and nursing facilities to propel the industry growth. Moreover, it can prevent medical errors while increasing access to significant data. Hence, the surging use of cloud storage in the healthcare industry is revolutionising the industry by increasing operational efficiency and productivity, which is projected to facilitate the industry growth.

 

Cloud Storage: Market Segmentation

Cloud storage is a model of cloud computing that can store a large amount of data on remote servers which are accessible through the internet or cloud. It aids in managing and storing by backing data efficiently and is increasingly deployed as an alternative to storing data on storage networks and on-premise hard drivers.

 

Global Cloud Storage Market by Segment

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The major components of cloud storage are:

  • Solutions
  • Service

The market can be broadly categorised on the basis of its deployment types into:

  • Private
  • Public
  • Hybrid

Based on organisation size, the market is divided into:

  • Large Enterprise
  • Small and Medium Enterprise

By industry, the market is classified into:

  • BFSI
  • Government and Public Sector
  • Healthcare 
  • IT and Telecom 
  • Retail 
  • Manufacturing 
  • Media and Entertainment 
  • Others

The EMR report looks into the regional markets of cloud storage like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Cloud Storage Market by Region

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Rising Demand for Cloud Storage Owing to the Coronavirus Pandemic to Augment the Cloud Storage Industry

The COVID-19 crisis has accelerated the market growth for cloud storage as it witnessed an exponential surge due to the prevalence of remote working conditions in the private sector. The reliability of cloud storage is increasing its use by various organisations as a significant resource for business conductivity, hence propelling the market growth. As more companies are switching to remote work permanently, the trend is expected to surge. The deployment of cost-effective cloud storage with escalated storage capacity to the presence of various companies in the market is anticipated to fuel the market growth. Moreover, the advent of the 5G technology is increasing the quality of the internet, therefore enabling fast data sharing and transfer, which is projected to surge the use of cloud storage.

The integration of the latest technologies in cloud storage to enhance its quality and offerings is projected to augment the market growth. This is increasing the deployment of artificial intelligence (AI) to offer Graphic Processing Units (GPUs) in various cloud storages to boost performance and provide a cost-effective solution to various enterprises. In addition, they nullify the risk of backup failure and lost files and ensure business conductivity. Artificial intelligence can also aid in streamlining workloads and automating repetitive tasks, hence improving data management to provide real-time information. Therefore, business users are increasingly deploying cloud storage, which is anticipated to bolster the industry growth in the forecast period.

 

Key Industry Players in the Global Cloud Storage Market

The report presents a detailed analysis of the following key players in the global cloud storage market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Alibaba Group Holding Limited
  • Amazon Web Services, Inc.
  • Dell Inc. 
  • Google LLC
  • Hewlett Packard Enterprise Development LP
  • IBM Corporation
  • Microsoft Corporation
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Deployment Type, Organisation Size, Industry, Region
Breakup by Component Solutions, Service
Breakup by Deployment Type Private, Public, Hybrid
Breakup by Organisation Size Large Enterprise, Small and Medium Enterprise
Breakup by Industry BFSI, Government and Public Sector, Healthcare, IT and Telecom, Retail, Manufacturing, Media and Entertainment, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Alibaba Group Holding Limited , Amazon Web Services, Inc., Dell Inc., Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Industry Application
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Cloud Storage Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Cloud Storage Historical Market (2018-2022)
    8.3    Global Cloud Storage Market Forecast (2023-2028)
    8.4    Global Cloud Storage Market by Component
        8.4.1    Solutions
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Service
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Cloud Storage Market by Deployment Type
        8.5.1    Private
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Public
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Hybrid
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Cloud Storage Market by Organisation Size
        8.6.1    Large Enterprise
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Small and Medium Enterprise
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Cloud Storage Market by Industry
        8.7.1    BFSI
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Government and Public Sector 
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Healthcare 
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    IT and Telecom 
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Retail 
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
        8.7.6    Manufacturing 
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2018-2022)
            8.7.6.3    Forecast Trend (2023-2028)
        8.7.7    Media and Entertainment 
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2018-2022)
            8.7.7.3    Forecast Trend (2023-2028)
        8.7.8    Others
    8.8    Global Cloud Storage Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Cloud Storage Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Cloud Storage Market  Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Cloud Storage Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Cloud Storage Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Cloud  Storage Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Alibaba Group Holding Limited 
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Amazon Web Services, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Dell Inc. 
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Google LLC
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Hewlett Packard Enterprise Development LP
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    IBM Corporation
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Microsoft Corporation
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Others
16    Key Trends and Developments in the Market
 

List of Key Figures and Tables

1.    Global Cloud Storage Market: Key Industry Highlights, 2018 and 2028
2.    Global Cloud Storage Historical Market: Breakup by Components (USD Billion), 2018-2022
3.    Global Cloud Storage Market Forecast: Breakup by Components (USD Billion), 2023-2028
4.    Global Cloud Storage Historical Market: Breakup by Deployment Type (USD Billion), 2018-2022
5.    Global Cloud Storage Market Forecast: Breakup by Deployment Type (USD Billion), 2023-2028
6.    Global Cloud Storage Historical Market: Breakup by Organisation Size (USD Billion), 2018-2022
7.    Global Cloud Storage Market Forecast: Breakup by Organisation Size (USD Billion), 2023-2028
8.    Global Cloud Storage Historical Market: Breakup by Industry (USD Billion), 2018-2022
9.    Global Cloud Storage Market Forecast: Breakup by Industry (USD Billion), 2023-2028
10.    Global Cloud Storage Historical Market: Breakup by Region (USD Billion), 2018-2022
11.    Global Cloud Storage Market Forecast: Breakup by Region (USD Billion), 2023-2028
12.    North America Cloud Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
13.    North America Cloud Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
14.    Europe Cloud Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
15.    Europe Cloud Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
16.    Asia Pacific Cloud Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
17.    Asia Pacific Cloud Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
18.    Latin America Cloud Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
19.    Latin America Cloud Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
20.    Middle East and Africa Cloud Storage Historical Market: Breakup by Country (USD Billion), 2018-2022
21.    Middle East and Africa Cloud Storage Market Forecast: Breakup by Country (USD Billion), 2023-2028
22.    Global Cloud Storage Market Structure

Key Questions Answered in the Report

In 2020, the global cloud storage market attained a value of nearly USD 56 billion.

The market is projected to grow at a CAGR of 21.9% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 182 billion by 2026.

The market is being aided by the rising use of cloud storage in government organisations and the healthcare sector.

The industry is expected to be driven by the trend of remote work due to the COVID-19 pandemic, the advent of the 5G technology, and technological advancements.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major components of cloud storage are service and solutions.

The different deployment types of cloud storage in the industry are private, public, and hybrid.

The significant organisation sizes in the market are large enterprises, and small and medium enterprises.

The various industries of cloud storage are BFSI, government and public sector, healthcare, IT and telecom, retail, manufacturing, and media and entertainment, among others.

The major players in the industry 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.

Analyst Review

The global cloud storage market attained a value of about USD 56 billion in 2020, driven by the rising use of cloud storage in the healthcare industry. Aided by the trend of remote work due to the COVID-19 pandemic, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 21.9%. The market is projected to reach nearly USD 182 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By components, the market is categorised into service and solutions. Based on its deployment types, the cloud storage industry can be segmented into private, public, and hybrid. On the basis of organisation sizes, the industry is divided into large enterprises, and medium and small enterprises. By industries, the market is segmented into BFSI, government and public sector, healthcare, IT and telecom, retail, manufacturing, and media and entertainment, among others. The major regional markets for cloud storage are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Alibaba Group Holding Limited, Amazon Web Services, Inc., Dell Inc., Google LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, and Microsoft Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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