Cloud storage market: Key research findings
- Increased volume of enterprise data
- Emergence of unified storage management systems
Technavio has added a new report on global standalone cloud storage market, to its cloud-based storage portfolio. Analysts estimate that the market to reach over $13 billion by 2019, owing to augmenting need for better storage resources and speedy retrieval of enterprise content.
Americas account for the largest demand of standalone cloud storage globally, constituting around 60% of the market, closely followed by EMEA and APAC. Most business firms in the Americas have adopted cloud-based services, including standalone cloud storage services, and the region is also home to major vendors including Amazon Web Services, AT&AT, Google, Microsoft, HP, and IBM. EMEA has also witnessed remarkable growth through increased adoption of cloud computing services, especially professional cloud services in Europe.
Perpetual expansion of business worldwide is triggering enterprises to improve their cloud-based storage options due to exponential growth in data volumes. Better storage alternatives are the need of the hour, which is inevitably escalating the demand for standalone cloud storage systems. Through standalone storage systems, enterprises can lease out their storage infrastructures to a standalone cloud storage service provider to store their business data, and reduce operational spending.
Benefits of standalone Cloud Storage
Source: Technavio Research
“Increased need for enhanced storage of both structured and unstructured data is boosting demand for standalone cloud storage across the globe. SMEs prefer such cloud storage systems to counter the increasing IT infrastructural expenditure. Standalone cloud storage facilitates easy data sharing across networks by allowing better data connectivity with other cloud storage environments. It aids the organizations to concentrate on their core efficiencies, maintain on premise systems and supporting infrastructure,” says Navin Rajendra, Lead Analyst, IT Services, Technavio Research.
Key vendors such as Amazon Web Services, AT&T, Google, HP, IBM and Microsoft dominate the market, providing large portfolio of services and products. Competition in the market has also intensified, with the vendors firms offering advanced storage services to their clients to have a competitive edge in the market.
More detailed analysis is available in the Technavio report, Global Stand Alone Cloud Storage Market – Industry Analysis 2015-2019. We can customize reports by other regions and specific segments upon request.