Global Cloud Storage Market report 2025 focuses on the major Types and Applications for the key players. The study report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The market research report is a professional and in-depth study on the current state of global industry.
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 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.
Data security is a major threat faced by the cloud storage market. Hackers and malicious attackers have seen a rapid growth and hence service providers need to adapt with the changing technology to augment their data security solutions. Furthermore, bandwidth throttling is another phenomenon restraining the cloud storage industry growth. It intentionally slows down the internet service by service providers, causing network congestion and server clashes. Growing competition in the cloud storage industry also hampers the industry growth.
The cloud storage market is segmented on the basis of solution, services, deployment model and vertical. The deployment model consists of private, public, and hybrid. Private cloud technology is used for personal usage as well as for private companies as it provides higher data security and manages huge amounts of administrative data. Public type allows authorized users to access information through the internet.
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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.