Cloud Storage Market to Reach USD 297.54 Billion by 2027; Higher Adoption of Machine Learning to Boost Growth, Says Fortune Business Insights™

Key Companies Covered in Cloud Storage Market Research Report Are Amazon Web Services, Inc., Dell Technologies Inc., Dropbox, Fujitsu Ltd, Inc., Google, Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Microsoft Corporation, Oracle, pCloud AG, Rackspace, Inc., VMware, Inc.

PUNE, India, May 18, 2020 /PRNewswire/ -- The global cloud storage market is set to gain traction from the rising adoption of autonomous systems and machine learning. Besides, the introduction to unique video systems, internet of things (IoT), and remote sensing technologies are driving the market growth. This information is provided by Fortune Business Insights™ in a recent study, titled, "Cloud Storage Market Size, Share & Industry Analysis, By Component (Storage Model, and Services), By Deployment (Private, Public, and Hybrid), By Enterprise Size (SMEs, and Large Enterprises), By Vertical (BFSI, IT and Telecommunication, Government and Public Sector, Manufacturing, Healthcare and Life Sciences, Retail and Consumer Goods, Media and Entertainment, and Others), and Regional Forecast, 2020-2027." The study further mentions that the cloud storage market size was USD 49.13 billion in 2019 and is projected to reach USD 297.54 billion by 2027, exhibiting a CAGR of 25.3% during the forecast period.

Highlights of the Report

• Illustration of the potential suppliers and buyers in the market.
• Competitive landscape including collaborations, investments, new product launches, contracts, agreements, mergers & acquisitions, and joint ventures.
• In-depth data about the financial competency of the market.
• Information regarding the significant opportunities, challenges, trends, growth drivers, and barriers.

Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cloud-storage-market-102773

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/cloud-storage-market-102773

Drivers & Restraints-

Covid-19 Pandemic to Boost Growth Backed by Rising Usage of Cloud Storage Solutions

Cloud storage solutions are gaining more popularity at present as workforces are inclining towards a distributed work environment. These solutions aid workforces in collaborating and staying connected. The outbreak of Covid-19 pandemic is enabling several organizations to support remote working, as well as manage the vast amount of data smoothly. Microsoft, for instance, has surged the benefits of Windows and extended Azure cloud credits for non-profit and critical care organizations, such as food & nutrition, public safety, and health support. In addition to that, the utilization of analytics-driven platforms is helping companies in the generating a large amount of data. They are therefore, preferring hybrid cloud storage solutions more than the conventional ones. However, the occurrence of data breaches may hamper the cloud storage market growth in the coming years.

Segment-

BFSI Segment to Grow Steadily Fueled by Need for Improving Consumer Experience

Based on vertical, the banking, financial services and insurance (BFSI) segment generated 22.4% cloud storage market share in 2019. The industry deals with large volumes of customer data on regular bases. It delivers efficient services to the customers. To serve them better, they require cloud storage technology as it poses as a transformative digital solution. This solution provides a high level of scalability, agility, and data security to the industry. Cloud storage systems not only improve consumer experience and revenues, but also enhance the operational efficiency. These factors are set to drive the growth of the BFSI segment in the near future.

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cloud-storage-market-102773

Regional Analysis-

North America to Remain Dominant Owing to Rising Adoption of Various Digital Services

Regionally, the market is divided into Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America. Amongst these, North America procured USD 19.85 billion revenue in 2019 and is set to dominate the market. This growth is attributable to the rising adoption of several digital services, such as electronic signatures and e-commerce in the U.S. Also, the increasing rate of cybercrime would contribute to the growth. However, the outbreak of Covid-19 pandemic is expected to obstruct growth by affecting the technological investments of industry giants. Asia Pacific, on the other hand, is projected to exhibit an astonishing growth during the forecast period backed by the increasing usage of smartphones.

Competitive Landscape-

Key Companies Focus on Expanding Product Offerings to Surge Revenue

Microsoft, IBM, and Amazon are some of the top companies operating in the global market. They are striving to widen their product offerings by keeping up with the latest trends. They will also be able to surge their revenue this way. Below are two of the latest industry developments:

• February 2020: Amazon Web Services, Inc. was chosen by Carrier to be its preferred cloud provider. Carrier will utilize AWS machine learning, analytics, and warehouse services to point out efficiencies in its supply chains and manufacturing processes. It would also use the latter's IoT services to support a new range of networked, intelligent products and services for the refrigerated, workplace, and home logistics chain.
• January 2020: Dell Technologies unveiled various new portfolio advancements, reference architectures, and solutions designed to accelerate and simplify the consumers' AI and high performance computing (HPC) efforts.

Fortune Business Insights™ presents a list of all the companies operating in the global Cloud Storage Market. They are as follows:

• Alibaba Cloud (China)
• Amazon Web Services, Inc. (United States)
• Dell Technologies Inc. (United States)
• Dropbox (United States)
• Fujitsu Ltd, Inc. (Japan)
• Google, Inc. (United States)
• Hewlett Packard Enterprise Development LP (United States)
• IBM Corporation (United States)
• Microsoft Corporation (United States)
• Oracle (United States)
• pCloud AG (Switzerland)
• Rackspace, Inc. (United States)
• VMware, Inc. (United States)

Quick Buy – Cloud Storage Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102773

Detailed Table of Content

• Introduction
• Definition, By Segment
• Research Approach
• Sources
• Executive Summary
• Market Dynamics
• Drivers, Restraints and Opportunities
• Emerging Trends
• Key Insights
• Macro and Micro Economic Indicators
• Consolidated SWOT Analysis of Key Players
• Porter's Five Forces Analysis
• COVID-19 Impact Analysis
• Global Cloud Storage Market Analysis, Insights and Forecast, 2016-2027
• Key Findings / Summary
• Market Size Estimates and Forecasts
• By Component (Value)
• Storage Model
• Object Storage
• File Storage
• Block Storage
• Services
• Professional services
• Managed Services
• By Deployment (Value)
• Public
• Private
• Hybrid
• By Enterprise Size (Value)
• Small and Mid-sized Enterprises (SMEs)
• Large Enterprises
• By Vertical (Value)
• BFSI
• IT and Telecommunication
• Government and Public Sector
• Manufacturing
• Healthcare and Life Science
• Retail and Consumer Goods
• Media and Entertainment
• Others
• By Geography (Value)
• North America
• Europe
• Asia Pacific
• Middle East and Africa

TOC Continued...!!!

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/cloud-storage-market-102773

Have a Look at Related Research Insights:

Cloud Analytics Market Size, Share & Industry Analysis, By Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Size (Small And Medium-Sized Enterprises (SMEs) and Large Enterprises), By End-User (BFSI, IT and Telecommunications, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Education, and Others) and Regional Forecast, 2019-2026

Cloud Computing Market Size, Share & Industry Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others (Energy and Utilities, Education), and Regional Forecast, 2020-2027

Cloud Gaming Market Size, Share & Industry Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer (PC), Smart TV and Consoles), By Streaming Type (File Streaming and Video Streaming), By End-Users (Business to Business (B2B) and Business to Consumers (B2C)), and Regional Forecast, 2020-2027

Cloud security Market Size, Share & Industry Analysis, By Component (Solutions, Services), By Security Type (Application Security, Database Security, Endpoint Security, Network Security, Web and Email Security), By Deployment (Private, Public, Hybrid), By End-User (Large scale enterprise , Small & medium enterprise), By Industry Verticals (Healthcare, BFSI, IT & Telecom, Government Agencies)Others and Regional Forecast, 2019-2026

Retail Cloud Market Size, Share & Industry Analysis, By Model Type (Infrastructure as a Service, Platform as a Service and Software as a Service), By Deployment (Public, Private and Hybrid Cloud), By Solution (Supply Chain Management, Workforce Management, Customer Management, Reporting & Analytics, Data Security, Omni-Channel), By Enterprise Size (Small & Medium and Large Enterprise) and Regional Forecast, 2019-2026

Location Analytics Market Size, Share & Industry Analysis, By Component (Solution, Services), By Location Type (Indoor, Outdoor), By Deployment Type (Cloud, On-Premises), By End-User (Retail, Government, Energy and Utilities, Healthcare, Travel and Transportation, Telecommunications, and Others) and Regional Forecast, 2019-2026

Security Analytics Market Size, Share & Industry Analysis, By Component (Solutions, and Services), By Application (Network Security Analytics, Web Security Analytics, Endpoint Security Analytics, and Application Security Analytics), By Vertical (BFSI, Government and Defense, IT and Telecommunication, Manufacturing, Healthcare, Energy and Utilities, and Others), and Regional Forecast, 2020-2027

Retail Analytics Market Size, Share and Industry Analysis By Type (Software, Services), By Deployment (On-Premises, Cloud), By Organization Size (SMEs, Large Enterprises), By Function (Customer Management, Supply Chain, Merchandising, In-Store Operations, and Strategy & Planning) and Regional Forecast 2019-2026

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs 

Read Press Release: https://www.fortunebusinessinsights.com/press-release/cloud-storage-market-9909

Logo - https://mma.prnewswire.com/media/881202/Fortune_Business_Insights_Logo.jpg  
Photo - https://mma.prnewswire.com/media/1169294/Cloud_Storage_Market.jpg