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Cloud Storage Market Growth Will be Boosted by Increasing Demand for Big Data Storage Up to 2024

Author : Ronak Bora | Published Date : 2019-04-03 

Global Market Insights, Inc. presents an extensive report on cloud storage market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.

The increasing demand for big data storage also boosts the cloud storage market growth. Companies need to store huge data and cloud-based services provide a reliable platform for the storage of data. The penetration of mobile and wireless networks further drives the need for enterprise mobility. Employees are adopting flexible work environment by working from home and working while traveling, accelerating the cloud storage market as it connects the out-of-office workers to the enterprise environment.

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Cloud storage market on the basis of industry vertical is segmented into BFSI, consumer goods, retail, healthcare, education, government, manufacturing, telecommunication, and entertainment. Banking institutions are using cloud technology to respond to the changing industry demand, providing faster server development, transparent usage billing method, and on-demand disaster recovery services.

The service segment is segmented on the basis of training and consulting, managed services, cloud integration and migration services, and support and maintenance. Managed services are anticipated to grow rapidly over the forecast time span, allowing organizations to concentrate on their core business and improved end-user experience with high-quality services. Managed service providers offer remote examining of IT infrastructure and reduce operational costs.

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On the basis of solutions, the cloud storage market is segmented into primary storage, disaster recovery and backup storage, cloud storage gateway, and data archiving. Primary cloud solution system provides basic document storage option. It provides backup for the data stored, which is easily available to the authorized people.

North America holds the highest share in the cloud storage market owing to technological investments and huge investments in R&D for cloud-based solutions, early adoption of new technologies, and advanced IT infrastructure. Moreover, cheap and easy storage options result in the rapid industrial development. Asia Pacific is the fastest growing region due to the high adoption rate of hybrid cloud storage, increasing usage of cloud-based application, and increasing need for enterprise storage of data.

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The main players operating in the cloud storage market include Microsoft Corporation, HP Enterprise Company, Amazon Web Services, IBM Corporation, EMC Corporation, Google, Oracle Corporation, Rackspace Hosting, SkyDrive, Dropbox, and AT&T. Key industry players come up with various strategies and are investing heavily in the R&D to improve their performance.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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