Global Cloud Storage Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. A computer data storage technology known as "cloud storage" stores digital data in "logical pools." Cloud storage is controlled and operated by a third-party service provider with one or more servers in one or more locations. This allows companies to use and update the same data from various locations remotely. The increasing data volumes across enterprises, the rising trend of providing a remote workforce with ubiquitous access to data and files, coupled with the growing investment in novel information technology solutions are the key factors driving the market growth around the world. For instance, according to Statista, in 2020, the overall enterprise data volume for cloud repositories was estimated to account for nearly 221 terabytes worldwide and the figure is projected to grow and likely to reach around 498 terabytes by 2022. Thereby, the rising data volume by the enterprises is propelling the demand for cloud storage, which is accelerating the market growth in the impending years. However, rising data privacy and security concerns and latency and network outage issues related to public cloud environments impede the growth of the market over the forecast period of 2022-2028. Also, the increasing integration of AI to achieve data integrity and the rise of containerization is anticipated to act as catalyzing factors for the market demand during the forecast period.

The key regions considered for the global Cloud Storage Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of digital business strategies and rising inclination toward cloud services by enterprises. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing emphasis on providing enhanced customer services, as well as the growing digitalization, would create lucrative growth prospects for the Cloud Storage Market across the Asia-Pacific region.

Major market players included in this report are:

Alibaba Group Holding Limited

Amazon Web Services, Inc.

Dell Emc

Google LLC

Hewlett Packard Enterprise Development LP

International Business Machines Corporation

Microsoft Corporation

Oracle Corporation

Rackspace Hosting, Inc.

VMware, Inc (U.S)

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

Solution

Services

By Deployment Type:

Private

Public

Hybrid

By Industry Vertical:

BFSI

Government & Public Sector

Healthcare

IT & Telecom

Retail

Manufacturing

Media & Entertainment

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Cloud Storage Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors