Kenneth Research, in its repository of market research reports, have recently added a report on Cloud Storage Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Cloud Storage Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cloud Storage Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
The growing online activities such as e-mail, enterprise resource planning, digital images, Salesforce automation, video surveillance and social networking data have led to an increase in unstructured data both large and small businesses. This explosion of big data has emerged as a challenge before business organization. Although organizations are increasing their IT budgets, however, in house management of such large amount of data incurs high cost. Thus, organizations are rapidly moving towards cloud storage services.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The cloud computing storage market is majorly driven by the growing use of social media for business activities and the growing e-commerce activities. Although the security and primary concerns will continue to hamper the market growth, emergence of various cloud security services will create better opportunities for the cloud storage market.
Global cloud storage market is segmented on the basis of storage types, services, deployment model, and industry verticals and region. Cloud storage is being widely used by variety of applications such as BFSI, IT & Telecommunications, Consumer goods and retail, government & defence and so on. The report provides detailed company profiles of key market players and their strategies. They key players discussed in the report include Amazon Web Services, Google Inc., IBM Corporation, Hewlett Packard Company, Microsoft Corporation, AT & T Inc., Rackspace Hosting Inc., VMWare Inc. The country level analysis of each geographical region is the USP of our report.
The analysis of the report is based on various parameters such as Cloud adoption across geographies, Global online data growth, growing big data across industry verticals, Internet penetration across geographies, Data centres in various geographies, IT spending across geography. The data is collected through primary and secondary research. The report discusses detailed profiles of key market players and their strategies.
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Companies Mentioned:
1 Amazon Web Services
2 Google Inc.
3 IBM Corporation
4 Hewlett Packard Company
5 Microsoft Corporation
6 AT & T Inc.
7 Rackspace Hosting Inc.
8 VMWare Inc.
9 Fujitsu Ltd.
10 Box Inc.
11 Salesforce.com
12 Dropbox Inc.
13 Justcloud.com
14 SOS online backup
15 Mozy
16 SugarSync
17 SpiderOak
18 OneDrive
19 Apple Inc.
20 Linedrive
21 Zip Cloud
22 Zoolz
23 Cabonite
24 Backblaze
25 4shared
26 Logmein
27 Joyent
28 Savvis
29 Navisite
30 Citrix systems
This Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR upto 2028
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
6. In-depth profiling of companies
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