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Cloud Storage Market Statistics: 2027 The cloud storage market size was valued at $46.12 billion in 2019, and is projected to reach $222.25 billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027. Why waste valuable storage space on your PC or phone when you can store your documents and media in the cloud and share it … For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies. Additionally, the impact of the COVID-19 pandemic at the global and regional level has been outlined in the report. The increasing volume of data being uploaded on the servers of the enterprises has resulted in the need for high-end security, SSL, well-defined sharing, along with cost-effective options within the organization.For instance, on an average of approximately 60 million photos are uploaded daily by Instagram users, globally, and is rapidly increasing, owing to the company’s new policy associated with multiple uploads. 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. Leading companies: Apple, Google, Box, Dropbox, Amazon, Microsoft, Sync, Hubic, Mediafire and Pcloud. This in itself is indicative of the fact that such an increase would require solutions like cloud storage to handle the surge thereby boosting the growth of the cloud storage over the forecast period. 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. 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 … The global cloud storage services market size is expected to grow by USD 73.21 billion during 2020-2024, according to Technavio. Cloud storage is a service model that offers a platform to maintain, manage, and backup data remotely and at the same time, ensure data availability to users over a network (typically the Internet). Cloud Storage Market Size & Growth (2019 - 2024) The cloud storage market is expected to grow from USD 32.72 billion in 2019 to USD 106.71 billion by 2024, with an average annual growth rate (CAGR) of 23.76% over the forecast period. This is expected to fuel the demand for cloud storage over the forecast period. 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. 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. This report focuses on the global Consumer Cloud Storage Services status, future forecast, growth opportunity, key market and key players. This report covers COVID-19 impact analysis on Cloud Storage Market 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. According to a study published by CenturyLink, a telecommunications company, the cloud computing technology is expected to generate revenue of USD 411 billion by 2020, across the world. A recent market research report added to repository of Credible Markets is an in-depth analysis of “Global Cloud Storage Services Market… If processors based on Arm become the norm in the data center, the industry can thank the gravitational pull of AWS… The data which is stored in and is accessible from multiple distributed and connected resources. 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. This also is expected to boost the adoption of the cloud storage over the forecast period. What are the risks and challenges in front of the market? What are the trending factors influencing the market shares? Cloud storage and file-sharing services enable distributed organizations to securely share large files, store them in the cloud, synchronize them across devices, and provide access so clients and colleagues can collaborate without the fear of losing data. The cloud data storage services are paid on a per-consumption, and monthly rate. Their ability to continually innovate their offerings has allowed them to gain a competitive advantage over others. Insights pertaining to manufacturing plants of the manufacturers and their base-of-operations across the various geographies. All Rights Reserved to Mordor Intelligence. Remuneration accrued by each product type. 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. This report is a valuable asset for the existing players, new entrants, and future investors. Updates on mergers, acquisitions, and expansion plans of leading players. 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. As Financial services organizations worldwide in order to store and retain large volumes of communications are under increasing pressure from MiFID II, MAR, Dodd-Frank and FX Code of Conduct as regulations mandate recording of greater numbers of regulated users, asset classes, channels & devices. AWS has expanded well beyond cloud compute and storage. 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. Some of the prominent players in the market through strategic partnerships, mergers & acquisitions, research & developments have been able to further the technology. Complete Market Research, Market Analysis, CAGR, Trends, Major Players, Market Share, Market Size. It offers the regional analysis of Global Consumer Cloud Storage Services Market along with the business profiles of several stakeholders. Report scope can be customized per your requirements. Market share of each application segment, together with their projected growth rate over the evaluation period. The top cloud providers for 2019 have maintained their positions, but the themes, strategies, and approaches to the market are all in flux. In the United States IT sector, it was estimated that in the past three years, BYOD adoption witnessed an increase of 44.42%. What will be the market size and growth rate in the forecast year? For instance, in February 2018, Google opened its first  Google Cloud Platform (GCP) region in Canada, with reduced prices for Google Cloud Storage infrequent access and cold storage classes, as well as its Nearline Storage features, for users in the region. JPMorgan Chase in its 2018 annual report stated that the company had hit average mobile customers mark of 33.3 million, a number that was by 11% with Total active digital customers being 49.3 million. This is expected to boost the cloud storage market’s growth over the forecast period. 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%, … Some of the prominent players in the region through research and development have been able to further the technology. All Rights Reserved. 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. 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. It offers a seven-year assessment of Global Consumer Cloud Storage Services Market. Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities. Also, the hybrid cloud deployment is occupying a continuously increasing share in the cloud market. Banks, in order to improve the revenue generation, increase customer insights, contain costs, deliver market-relevant products quickly and efficiently, and help monetize enterprise data assets, have started digitizing their working by introducing online portals through which a user can directly complete his work without any need for a bank official's intervention. The Best Cloud Storage and File-Sharing Services for 2020. 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. One of the highest-growth secular tech trends of the 2020s will be cloud computing. We streamline the purchase of your market research reports and services through a single integrated platform by bringing all the major publishers and their services at one place. Regional segmentation: North America, Europe, Asia-Pacific, South America, Middle East & Africa, South East Asia. Amazon web services has the largest cloud computing market share in at 32%. Based on the service type, the cloud infrastructure services market is segmented into computing as a service, storage as a service, disaster as a service, networking as a service, desktop as a service and managed hosting. © 2020. It helps in understanding the major key product segments. This year could see the Google overtake Alibaba, with Google CEO Sundar Pichai reporting cloud service revenues on track for $8 billion. For instance, in June 2019, Indian Army announced its plans to expand its cloud computing network for storing and sharing operational and personnel information such as deployments, movement of formations and health and service records. North America is expected to hold a significant share owing to early adoption of new technologies,  huge investments in R&D for the cloud-based solutions, and enhanced IT infrastructure. Sep 24, 2020 (The Expresswire) -- "Final Report will add the analysis of the impact of COVID-19 on this industry." The key questions answered in this report: Significant Point Mentioned in the Research report: Major Points Covered in Table of Contents: Request Customization on This Report @ https://www.aeresearch.net/request-for-customization/265966. [240 Pages Report] The global cloud storage market size is projected to grow from USD 50.1 billion in 2020 to USD 137.3 billion by 2025, at a Compound Annual Growth Rate … Market Study Report, LLC. 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. Basic business information, along with product portfolio comprising detailed specifications and top applications. Gartner projects global public cloud revenue will grow 17% in 2020 to $266.4 billion. Examination of the competitive hierarchy based on market concentration ratio of the listed companies. Market share held by all product segments. Consumer Cloud Storage Services Latest Research Report. This has resulted in a massive surge in the generation of data which is propelling such institutions to have cloud storage in place. 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. 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. Will influence the progress of the listed companies storage market ’ s forces... Per-Consumption, and market share, market share, market Analysis, CAGR,,. 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