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Cloud Storage Services Market by End-User and Geography - Forecast and Analysis 2020-2024

  • Published: Nov 2019
  • Pages: 158
  • SKU: IRTNTR40155
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The global cloud storage services market has the potential to grow by USD 73.21 billion during 2020-2024. However, the market’s growth momentum will decelerate during the second half of the forecast period.

This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and end-users (large enterprises and SMEs). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Alibaba Cloud, Amazon Web Services Inc., Dell Technologies Inc., Fujitsu Ltd., Google LLC, Hewlett Packard Enterprise Co., Hitachi Ltd., International Business Machines Corp., Microsoft Corp., and Oracle Corp.

Market Overview

Cloud-Storage-Services-Market-Size

 

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Market Competitive Analysis

The market is fragmented, and the degree of fragmentation will decrease during the forecast period. The players in the market are diversified in terms of their overall offerings. The vendor base is fairly split with various levels of focus on the market within their overall offerings. Established vendors are adopting M&A strategies to expand their market reach. Machines Corp., Microsoft Corp., and Oracle Corp are a few of the major market participants. Although the accelerating growth momentum will offer immense growth opportunities to market players, the stringent government regulations will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this cloud storage services market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this cloud storage services market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading cloud storage services companies, including:

  • Alibaba Cloud
  • Amazon Web Services, Inc.
  • Dell Technologies Inc.
  • Fujitsu Ltd.
  • Google LLC
  • Hewlett Packard Enterprise Co.
  • Hitachi Ltd.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.

Cloud Storage Services Market: Segmentation by Region

Cloud-Storage-Services-Market-Share-by-Geography

 

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North America was the largest market for cloud storage services in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. The increasing adoption of advanced technology, the significant rate of data generated, high investments in data centers, and the presence of many vendors will contribute to the cloud storage services market growth in the region.

Almost 37% of the market’s growth will originate from North America during the forecast period. The presence of an established communication infrastructure, increasing penetration of mobile devices, improved connectivity, and remote working will drive the need for efficient cloud storage services, fueling cloud storage services market growth in the region. The US is one of the critical markets for cloud storage services in North America. The market growth in this region will be faster than the growth of the market in Europe, South America, and MEA.

Cloud Storage Services Market: Segmentation by End-user

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Large enterprises are increasingly adopting advanced technologies such as AI, ML, IoT, big data, and cloud to automate their business operations. The adoption of these technologies accelerates the rate of data generation, creating a need for cloud storage services. Additionally, growing internet traffic is also increasing the demand for storage space and high processing power in large enterprises.

However, market growth by the large enterprises segment will be slower than the growth of the market by the SME segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the cloud storage services market size.

Cloud Storage Services Market: Key Drivers and Trends

The growing digitalization of enterprises is increasing the amount of data generated. The growth of social networking applications has also been increasing the volume, velocity, and variety of the data being generated. Therefore, large- and small-scale businesses are focusing on solutions for data collection, analysis, and storage. Moreover, enterprises are increasingly using advanced technologies such as IoT, artificial intelligence (AI), big data, and machine learning (ML) to analyze and interpret large volumes of data. These factors have created a scope for vendors on enhancing their service capabilities to support big data analytics and IoT. Vendors are also offering high-performance storage and distributed storage options. These factors will significantly fuel cloud services storage market growth over the forecast period.

  • The rising adoption of cloud storage services is one of the critical cloud storage services market trends.
  • SMEs are increasingly adopting cloud solutions as they can avail IT resources such as storage and servers.
  • Cloud storage services help SMEs with cross-platform solutions, along with the option of scaling-up or down.
  • SMEs also prefer cloud storage solutions as they reduce CAPEX, mostly in terms of labor cost and maintenance.
  • Moreover, remote data storage on the cloud increases the efficiency of data backup and sharing files.
  • Thus, the trend is expected to increase sales and fuel market growth over the forecast period.
  • During 2020-2024, the market will grow at a CAGR of over 28%.

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Cloud Storage Services Market: Key Highlights of the Report for the Forecast Period 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will accelerate the cloud storage services market growth during the next five years
  • Precise estimation of the global cloud storage services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cloud storage services industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cloud storage services vendors

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Value chain analysis
  • Market characteristics
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market outlook
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY END-USER

  • Market segmentation by end-user
  • Comparison by end-user
  • Large enterprises - Market size and forecast 2019-2024
  • SMEs - Market size and forecast 2019-2024
  • Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • High adoption of cloud storage services by SMEs
  • Increasing partnerships and collaborations
  • Emergence of advanced storage technologies

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Alibaba Cloud
  • Amazon Web Services, Inc.  
  • Dell Technologies Inc.
  • Fujitsu Ltd. 
  • Google LLC
  • Hewlett Packard Enterprise Co.
  • Hitachi Ltd. 
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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