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Cloud Storage Market Outlook: What will be the Future Growth Opportunities in Global Industry

Author : Ronak Bora | Published Date : 2019-04-16 

The report presenting a comprehensive exploration of the global Cloud Storage Market encloses the rate of growth of the market over the projected duration. Providing a concise synopsis, the report determines the valuation and size of the industry in the near future. It also includes the major contributing factors to the growth of the global cloud storage market as well as the dominating players in the market coupled with their market share.

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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 industry as it connects the out-of-office workers to the enterprise environment.

The cloud storage market has gained a huge popularity owing to various profits, such as information security, during natural disasters such as floods and earthquakes. They have a sound backup facility, which provides immediate access to a wide range of applications, driving the cloud storage industry.

Due to the growing population, the need for data storage also increases, which in turn requires technologically advanced storage solutions. This is a major opportunity for the cloud storage market. Technological advancements in data transfer and data security offer huge growth opportunities to the cloud storage industry .

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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.

North America holds the highest share in the cloud storage industry 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.

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.

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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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