This report segments the market by Solution (Cloud Storage Gateway, Primary Storage, Backup Storage, Data Archiving), Service (Managed Services, Professional Services), Deployment (Private Cloud, Public Cloud, Hybrid Cloud), End-User, and Geography. The global cloud storage services market size is expected to grow by USD 73.21 billion during 2020-2024, according to Technavio. The global cloud storage market size stood at USD 49.13 billion in 2019 and is projected to reach USD 297.54 billion by 2027, exhibiting a CAGR of 25.3% during the forecast period. GLOBAL CLOUD STORAGE MARKET FORECAST 2019-2027 Cloud Storage Market by Deployment (Public Cloud, Private Cloud) by Organization Size (Large Enterprise, Small Medium Business) by End Users (Banking, Financial Services & Insurance, Telecommunication, Consumer Goods & Retail, Media & Entertainment, Healthcare & Life Sciences, Government & Other End Users) by Solutions ( Primacy Storage… AWS has expanded well beyond cloud compute and storage. One of the highest-growth secular tech trends of the 2020s will be cloud computing. It helps in understanding the major key product segments. Market share held by all product segments. This in itself is indicative of the fact of banking institutions could need solutions like cloud storage to handle such amounts of data. Who are the key vendors in the Global Consumer Cloud Storage Services Market? The cloud data storage services are paid on a per-consumption, and monthly rate. While free platforms like Dropbox and iCloud continue to excel as the most popular free file storage services, Amazon Web Services appear to be the clear winner according to cloud computing stats in 2020 1. Pricing model, sales graph, returns, and market share of the listed companies. Cloud Storage Market Size, Share - Growth, Trends, and Forecast (2020 ... Increasing demand for low-cost data backup, storage, and protection across all enterprises, coupled with the necessity to handle data generated by augmented usage of mobile technologies, favors the rate of adoption of cloud storage. Annual growth rate of each regional market over the estimated timeframe. Click here. Cloud Storage Services Market Report Coverage: Key Growth Factors & Challenges, Segmentation & Regional Outlook, Top Industry Trends & Opportunities, Competition Analysis, COVID-19 Impact Analysis & Projected Recovery, and Market Sizing & Forecast. Examination of the competitive hierarchy based on market concentration ratio of the listed companies. The study provides historical market data with the revenue predictions and forecast from 2020 to 2026. Moreover, cheap and secure storage options result in rapid industrial development. Application spectrum: Adults and Teenagers. To understand geography trends, Download Sample Report. Some of the prominent players in the market through strategic partnerships, mergers & acquisitions, research & developments have been able to further the technology. For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies. What are the trending factors influencing the market shares? We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. Market Study Report, LLC. What will be the market size and growth rate in the forecast year? What are the risks and challenges in front of the market? This report covers COVID-19 impact analysis on Cloud Storage Market As worldwide server revenue reached $24 billion in the second quarter of 2020 amid the COVID-19 pandemic, Hewlett Packard Enterprise and Dell Technologies are neck and neck in market-share … A survey by Cisco reported that 69% of the IT decision makers favor BYOD as an optimistic addition to workplace policy as it saves workers time. According to RightScale 2018 State of the Cloud Survey Report, 81% of enterprises have a multi-cloud strategy and 51% of the enterprises with a hybrid strategy. This report focuses on the global Consumer Cloud Storage Services status, future forecast, growth opportunity, key market and key players. It offers an analysis of changing competitive scenario. The Global Cloud Storage Market is expected to reach USD 170.02 billion by 2025, at a CAGR of 24.74% during the forecast period 2020-2025. This is expected to boost the adoption of cloud storage throughout the forecast period. Cloud storage enables the user to store the data on the Internet through a cloud computing provider that manages and operates data storage as a service. What are the key factors driving the Global Consumer Cloud Storage Services Market? Gartner projects global public cloud revenue will grow 17% in 2020 to $266.4 billion. © 2020 aeresearch.net. This has resulted in a massive surge in the generation of data which is propelling such institutions to have cloud storage in place. 4.2 Introduction to Market Drivers and Restraints, 4.3.1 Increase in Cloud Adoption Across Organizations, 4.3.2 Increase in Demand for Hybrid Cloud, 4.3.3 Growing Demand for Low-cost Storage and Faster Data Accessibility, 4.4.1 Privacy and Security Concerns regarding Cloud Storage, 4.5 Industry Attractiveness - Porter's Five Force Analysis, 4.5.2 Bargaining Power of Buyers/Consumers, 8. In 2018, the global Consumer Cloud Storage Services market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025. The cloud enables the bank to synchronize the enterprise; to break down operational and data silos across risk, finance, regulatory, customer support, amongst others and more importantly, it allows such institutions to combine such massive data sets in one place, and can apply advanced analytics for integrated insights. This is expected to boost the adoption of the cloud storage over the forecast period. Projected growth rate of the industry over the analysis timeline, backed with a comparative study of the historical data and current market scenario is included. In July 2019 - IBM announced major upgrades to its IBM Spectrum Discover unified metadata management, Cloud Object Storage, Spectrum Plus data protection and VersaStack converged infrastructure platform with an eye on the cloud and modern workloads. In the United States IT sector, it was estimated that in the past three years, BYOD adoption witnessed an increase of 44.42%. Also, the increasing initiatives from the government or related regulatory bodies pertaining to the storage of large volumes data are propelling the institutions to opt for cloud storage. The top cloud providers for 2019 have maintained their positions, but the themes, strategies, and approaches to the market are all in flux. Through strategic partnerships, research and developments, and mergers & acquisition these players have been able to gain a greater footprint in the market. Google’s Cloud Platform is estimated by Gartner to command a public cloud market share of 4%, with annual revenues of $1.3 billion and growth of 60% in 2018. All Rights Reserved. Consumer Cloud Storage Services Latest Research Report. The Consumer Cloud Storage Services market, in brief, has been rigorously studied through multiple fragmentations, while keeping track of industry supply chain and sales channel with respect to the raw materials, upstream suppliers, distributors, and downstream buyers. Totals sales and revenue records of each region. Amazon web services has the largest cloud computing market share in at 32%. The Best Cloud Storage and File-Sharing Services for 2020. According to Accenture in 2019, the Digital-only banks operating in the U.K. could amass a total of 35 million customers globally within a period of 12 months. Market share of each application segment, together with their projected growth rate over the evaluation period. Some of the prominent players in the region through research and development have been able to further the technology. Request Sample Copy of this Report @ https://www.aeresearch.net/request-sample/265966. Their ability to continually innovate their offerings has allowed them to gain a competitive advantage over others. This is expected to boost the cloud storage market’s growth over the forecast period. MARKET OPPORTUNITIES AND FUTURE TRENDS. the competitive rivalry in the cloud storage market is high owing to the presence of some major players such as Microsoft, IBM, Oracle, amongst others. Updates on mergers, acquisitions, and expansion plans of leading players. Sep 24, 2020 (The Expresswire) -- "Final Report will add the analysis of the impact of COVID-19 on this industry." Growth rate estimates for all product types over the forecast duration. The market overview, market dynamics, market growth, etc. Key growth drivers and opportunities that are slated to influence to profitability graph of the industry over the assessment period are highlighted in the report. Cloud storage is based on highly virtualized infrastructure and is like broader cloud computing in terms of interfaces, near-instant elasticity and scalability, multi-tenancy, and metered resources. Software as a Service (SaaS) segment dominated the cloud computing market with a share of over 54% in 2019 owing to its flexible costs, easy maintenance, and deployment. The public cloud deployment model held over 50% of the Europe cloud computing market share in 2018 as this deployment model supports resource sharing by multiple enterprises to … This year could see the Google overtake Alibaba, with Google CEO Sundar Pichai reporting cloud service revenues on track for $8 billion. If processors based on Arm become the norm in the data center, the industry can thank the gravitational pull of AWS… AWS has 32% of the market and generated more revenue than the next three largest combined, Azure is at 19% of the market, Google Cloud at 7%, … The research document has been put together in a manner that aids companies in better understanding the prevailing trends and identifying future growth prospects to make well-informed decisions. Global Consumer Cloud Storage Services Market Size, Share, Growth Survey 2020 to 2026 and Industry Analysis Report By Market Study Report Date: 2020-08-06 Product ID: 2831496 In the latest Consumer Cloud Storage Services market report, numerous aspects pivotal to the industry augmentation in the recent past as well as the key global developments are analyzed to help businesses stay ahead … Each application segment, together with their projected growth rate over the forecast.. 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