Cloud Storage Market Report: Trends, Forecast and Competitive Analysis to 2030

Cloud Storage Trends and Forecast

The future of the global cloud storage market looks promising with opportunities in the primary storage, backup and disaster recovery, and archiving markets. The global cloud storage market is expected to reach an estimated $246.7 billion by 2030 with a CAGR of 17.9% from 2024 to 2030. The major drivers for this market are growing demand of AI technology infusion and video analytics, increasing usage of a variety of cutting-edge technology, including enhanced camera systems, remote sensing, and artificial intelligence (AI), and employing analytics-driven platforms is assisting businesses in producing vast amounts of data.

A more than 150-page report is developed to help in your business decisions.

Cloud Storage by Segment

The study includes a forecast for the global cloud storage by component, deployment type, application, end use, and region.

Cloud Storage Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Solutions
• Services

Cloud Storage Market by Deployment Type [Shipment Analysis by Value from 2018 to 2030]:

• Public
• Private Cloud

Cloud Storage Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Primary Storage
• Backup & Disaster Recovery
• Archiving

Cloud Storage Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• BFSI
• IT & ITeS
• Telecommunications
• Healthcare & Life Sciences
• Media & Entertainment
• Consumer Goods & Retail
• Manufacturing
• Government & Public Sector
• Other

Cloud Storage Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Cloud Storage Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cloud storage companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cloud storage companies profiled in this report include-

• AWS
• Google
• Microsoft
• IBM
• Alibaba Cloud
• Oracle
• Rackspace Technology
• HPE
• Dell Technologie
• Dropbox

Cloud Storage Market Insights

Lucintel forecasts that government and public sector will remain the largest segment over the forecast period due to adaption of digital technologies to improve service delivery.

North America will remain the largest region over the forecast period due to increasing adoption of digital business strategies, as well as, growing use of connected gadgets, digital payments, video streaming services, and smart home appliances in this region.

Features of the Global Cloud Storage Market

Market Size Estimates: Cloud storage market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Cloud storage market size by various segments, such as by component, deployment type, application, end use, and region in terms of ($B).

Regional Analysis: Cloud storage market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different component, deployment type, application, end use, and regions for the cloud storage market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the cloud storage market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the cloud storage market size?

Answer: The global cloud storage market is expected to reach an estimated $246.7 billion by 2030.

Q.2 What is the growth forecast for cloud storage market?

Answer: The global cloud storage market is expected to grow with a CAGR of 17.9% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the cloud storage market?

Answer: The major drivers for this market are growing demand of AI technology infusion and video analytics, increasing usage of a variety of cutting-edge technology, including enhanced camera systems, remote sensing, and artificial intelligence (AI), and employing analytics-driven platforms is assisting businesses in producing vast amounts of data.

Q4. What are the major segments for cloud storage market?

Answer: The future of the global cloud storage market looks promising with opportunities in the primary storage, backup and disaster recovery, and archiving markets.

Q5. Who are the key cloud storage market companies?

Answer: Some of the key cloud storage companies are as follows:

• AWS
• Google
• Microsoft
• IBM
• Alibaba Cloud
• Oracle
• Rackspace Technology
• HPE
• Dell Technologie
• Dropbox

Q6. Which cloud storage market segment will be the largest in future?

Answer: Lucintel forecasts that government and public sector will remain the largest segment over the forecast period due to adaption of digital technologies to improve service delivery.

Q7. In cloud storage market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to increasing adoption of digital business strategies, as well as, growing use of connected gadgets, digital payments, video streaming services, and smart home appliances in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the cloud storage market by component (solutions and services), deployment type (public and private cloud), application (primary storage, backup & disaster recovery, and archiving), end use (BFSI, IT & ITeS, telecommunications, healthcare and life sciences, media and entertainment, consumer goods and retail, manufacturing, government and public sector, and other), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?